Competitor Analysis and Market Strategy
Where we stand in the introducer sheath market
Competitor Analysis
Edwards Lifesciences eSheath
The main contender for expandable sheaths on the market is the Edwards eSheath. Notable features of the eSheath is that it has a folded inner tube within an outer tube that can expand and has localized expansion; however, this sheath is not for general use and is typically only paired with Edwards Lifesciences cardiovascular devices [5].
Boston Scientific iSleeve
Another expandable sheath that was developed by BostonScientific is the iSLEEVE, which is composed of three folds at the end of the catheter. However, the company recalled the sheath and it is no longer on the market [6].
Gore Medical
The Gore Medical DrySeal introducer sheath is the standard introducer sheath most often used; however, it is not expandable [7]. It is also important to note that sometimes, traditional introducer sheaths are not even an option due to severe kinking, severe calcification in the patient, or bleeding and cardiac dissection.
VascXpand vs Competitors
Unique Value Proposition
VascXpand aims to revolutionize the introducer sheath market with its innovative expandable sheath body. Our technology can aid in the development of introducer sheaths that not only compete with existing products but also offers unique advantages. By leveraging advanced expandable femoral artery sheaths, we can design devices that are more efficient, safer, and easier to use.
Product Differentiation
Our sheath has the goal to reduce vascular trauma by being a "universal" expandable sheath compatible across many minimally invasive surgeries. Because our sheath can be inserted and removed at a narrow profile, we aim to reduce vascular trauma for patients, surgery time for physicians, and decrease hospital inventory costs.
Target Market
Our target market are hospital admnistrators who desire lower costs and simpler inventory for introducer sheaths. VascXpand also plans to market our sheath toward surgeons and physicians who want easy to use technologies to prevent vascular trauma and make minimally invasive procedures even safer for patients. The global intravenous access devices market (which includes introducer sheaths among other products) was valued at approximately 34 billion U.S. dollars in 2016. Market volume is expected to grow further, reaching $39.13 billion by 2030 (cardiology devices overall), with a steady project CAGR of 6.17%. 3
Marketing Strategy and Promotion
We will leverage various marketing channels to promote our product. This includes medical conferences, online platforms, and meetings with medtech companies. We will also invest in educating biomedical companies about the benefits of our product to encourage them to recommend it to their customers.
References
[5] Edwards Lifesciences, Patent Application Publication, US 20200353221A1, 2020.https://patentimages.storage.googleapis.com/ef/a2/4a/d08c7756bdbc90/US20200353221A1.pdf.
[6] Boston Scientific, 'Expandable Sheath for introducing an endovascular delivery device into a body', US10548631B2, 2016. https://patents.google.com/patent/US9301841B2/en
[7] Gore Medical. 'Dryseal Flex Introducer Sheath', U.S. Pat. Nos. 9,314,605; 9,561,347; 10,155,104; 10,112,030; 10,744,300; 10,960,198, 2010. https://www.goremedical.com/products/dryseal
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