Rethink, Reiterate, Rivis
The team is targeting the Surgical Instruments market with a sub segment of Neurological Surgical Instruments. The market size of Surgical Instrument Market is valued at $10.5 billion and is currently growing at a rate of 7.8% each year. The intended consumers are hospital systems that run neurosurgical programs and research institutes that work on cutting any form of membrane. The pricing of the DURALance and DURAShield combo will be at market value for current dura elevators, averaging around $56 dollars. The pricing structure and the business model involves selling the handle (DURALance) at cost or for free depending on contracting and generating revenue on attachment (DURAShield) sales. This would allow for sustainable revenues on top of the already present benefit of the consumable nature of the DURAShield, including but not limited to user experience and sterility.
The team has already generated several proofs of concepts testing multiple different aspects of the device. This has allowed the team to answer with confidence that this method and intended solution can be deployed. Further, several design for manufacture and assembly considerations have already been made early in the process ensuring that the device is not so sophisticated as to be incapable of bringing to market. Further, the team is backed by industry mentors and the clinical expertise of Barrow Neurological Institute, ensuring that the deployed device is feasible and endorsed from both an engineering and clinical standpoint.
Below are the manufacturing methods that the team is pursuing. Metal Stamping is fast, precise and cost effective. Injection Molds will ensure low cost, high quality and high throughput.