RE: knife edge1 Apr 2023 12:50
The Company estimates that the total addressable UK market is up to £8.5 million per annum which is based on approximately 100,000 NICU admissions per annum and an estimated customer price per test of more than £80. The EU market is potentially another c. £46.8 million per annum, the U.S. market is c. £34 million and Rest of World markets around £13.8 million. Market estimates are based on end user pricing. The Directors believe that the UK and Europe presents an attractive market opportunity for the Company to target. The Company expects to pursue a distributor model alongside some investment in its own business development activities including an expanded commercial sales and marketing team to help drive initial adoption. A geographic expansion process is underway with targeted launch (outside the UK) expected in Spain, Saudi Arabia, Austria, France and Greece in H1 2023 with other countries to follow. Distributors have already been appointed in 8 countries. The Company is developing materials and undergoing activities to educate the market and drive product awareness.
The Company estimates that the total addressable UK market is up to £8.5 million per annum which is based on approximately 85,000 ischaemic strokes per annum. The EU market is potentially another c. £93.5 million per annum (c. 800,000 strokes per annum), the U.S. market is c. £67.6 million per annum (c. 700,000 strokes per annum) and rest of world markets c. £51.0 million per annum. The Company anticipates the customer price to be approximately £100 per test. The U.S. market has established reimbursement under Medicare (c. US$291). Market estimates are based on estimated end user pricing. NICE has included Genedrive's ® CYP2C19-ID Kit in a new Diagnostics Assessment Programme reviewing general applicability of CYP2C19 testing by any technique. The Company anticipates it could recommend genotyping is appropriate and cost effective.
The markets that the Company is targeting are significant relative to its size. The Company estimates the Total Available Market opportunity of its assays is over £300 million based on end user pricing, and believes that there are currently no other MT-RNR1 products that can deliver time critical results in under 1 hour. The Genedrive® CYP2C19 assay has limited competition (which currently has a more limited genetic analysis and usability compared to genedrive's proposed solution).
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Yeah covid hype based on nothing in the end isn't as valuable as hype on the company expecting huge sales per year.
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