Credence MedSystems, Inc.
- Industry
- Medical Devices & Equipment
- Founded Year
- 2013
- Headquarters
- Menlo Park, California, USA
- Employee Count
- 50
Key People
- Jeffrey F. Williams - CEO
- John J. Merhige - Chief Commercial Officer
- Michael Hooven - Chairman
Assessment
- Team
-
Aspect: Multiple successful MedTech entrepreneurs
Summary: The leadership team comprises experienced professionals with successful backgrounds in the MedTech industry.
The presence of multiple successful MedTech entrepreneurs in the leadership team suggests a strong foundation for strategic decision-making and industry navigation.
- Clinical Need
-
Aspect: Very Strong
Summary: The company's products address critical needs in injectable drug delivery, enhancing safety and usability.
By focusing on improving safety and usability in drug delivery, the company meets pressing demands in the healthcare sector, potentially leading to widespread adoption.
- Competition
-
Aspect: Somewhat crowded
Summary: The drug delivery devices market is competitive, with several established players.
While the market is somewhat crowded, the company's innovative solutions may provide a competitive edge if effectively marketed and adopted.
- Technical Challenge
-
Aspect: Moderate
Summary: Developing advanced drug delivery systems involves moderate technical challenges.
The development of innovative drug delivery systems requires addressing technical complexities, but these are manageable with the right expertise and resources.
- Patent
-
Aspect: Strong
Summary: The company holds strong patents protecting its innovative technologies.
Robust patent protection ensures the company's innovations are safeguarded, potentially deterring competitors and securing market position.
- Financing
-
Aspect: Well-funded
Summary: The company has secured significant funding, including investment from Novartis AG.
Substantial financial backing, especially from a major industry player like Novartis, provides the resources necessary for research, development, and commercialization efforts.
- Regulatory
-
Aspect: 510k/PMA
Summary: The company's products are subject to regulatory pathways such as 510(k) and PMA.
Successfully obtaining regulatory approvals like 510(k) or PMA is essential for product commercialization and requires thorough compliance with industry standards.
Opportunity Rollup
- Odds of Success
- 3.4
- Peak Market Share
- 4.3
- Segment CAGR
- 6.3%
- Market Segment
- Drug Delivery Devices
- Market Sub Segment
- Injection Devices
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.22 |
| 2 | 0.64 |
| 3 | 1.50 |
| 4 | 3.01 |
| 5 | 4.30 |
Key Takeaway
Credence MedSystems, Inc. is well-positioned in the growing drug delivery devices market, leveraging strong leadership and innovative products to address critical clinical needs.