Synaptive Medical
- Industry
- Medical Device and Technology
- Founded Year
- 2012
- Headquarters
- 555 Richmond Street West, Suite 800, Toronto, Ontario, M5V 3B1, Canada
- Employee Count
- 293
Key People
- Cameron Piron - President
- Magnus Momsen - Chief Financial Officer
- Dylan White - Chief Legal Officer
- Shawn Campbell - Senior Vice President, Operations
- Michael McDonald - Vice President, Quality and Regulatory Affairs
- Alex Panther - VP, R&D, MRI
- Kyle DArcey - Senior Director, Product Management
Assessment
- Team
-
Aspect: Multiple successful MedTech entrepreneurs
Summary: The leadership team comprises experienced professionals with backgrounds in medical technology and business operations.
The leadership team's collective experience in MedTech and business operations provides a strong foundation for strategic decision-making and innovation.
- Clinical Need
-
Aspect: Very Strong
Summary: Synaptive Medical addresses critical needs in neurosurgery and related fields with integrated solutions.
By offering integrated solutions that enhance surgical imaging and data management, Synaptive Medical meets essential clinical requirements in neurosurgery, spine, ENT, and plastic/reconstructive surgeries.
- Competition
-
Aspect: Somewhat crowded
Summary: The medical device market is competitive, with several established players.
While Synaptive Medical offers innovative solutions, it operates in a market with numerous competitors, which could impact its ability to capture market share.
- Technical Challenge
-
Aspect: Complex
Summary: Developing integrated medical devices involves significant technical complexities.
The integration of MRI, surgical planning, navigation, and robotic automation requires advanced engineering and may encounter technical hurdles during development.
- Patent
-
Aspect: Strong
Summary: The company has a robust patent portfolio protecting its technologies.
Holding multiple patents safeguards Synaptive Medical's innovations, potentially deterring competitors and supporting market exclusivity.
- Financing
-
Aspect: Well-funded
Summary: Synaptive Medical has secured substantial funding from reputable investors.
With investments from firms like General Atlantic and Sensegain Group, Synaptive Medical is well-positioned to fund its research, development, and market expansion efforts.
- Regulatory
-
Aspect: 510k/PMA
Summary: The company's products require regulatory approvals such as 510(k) or PMA.
Obtaining necessary regulatory approvals is a critical step for Synaptive Medical to commercialize its products, which may involve time-consuming processes.
Opportunity Rollup
- Odds of Success
- 3.5
- Peak Market Share
- 4.5
- Segment CAGR
- 4.9%
- Market Segment
- Neurology Devices
- Market Sub Segment
- Surgical Navigation Systems
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.23 |
| 2 | 0.68 |
| 3 | 1.58 |
| 4 | 3.15 |
| 5 | 4.50 |
Key Takeaway
Synaptive Medical, with its innovative integrated solutions and strong leadership, is well-positioned to address critical needs in neurosurgery, though it faces challenges in a competitive and regulated market.