AppliedVR
- Industry
- Health Care
- Founded Year
- 2015
- Headquarters
- Van Nuys, California, USA
- Employee Count
- 0
Key People
- Matthew Stoudt - Co-founder and CEO
- Josh Sackman - Co-founder and President
Assessment
- Team
-
Aspect: First-time 10+ yrs
Summary: The leadership team comprises first-time entrepreneurs with over a decade of experience.
While the founders bring substantial experience, their lack of previous success in MedTech ventures may pose challenges in navigating the complex healthcare landscape.
- Clinical Need
-
Aspect: Very Strong
Summary: There is a significant unmet need for non-pharmacological chronic pain management solutions.
With the opioid crisis and limited effective non-drug therapies, AppliedVR's VR-based solution offers a promising alternative for chronic pain sufferers.
- Competition
-
Aspect: Somewhat crowded
Summary: The market has several players offering VR-based therapeutic solutions.
Companies like XRHealth, MindMaze, and Karuna Labs also provide VR therapies, indicating a competitive landscape that could challenge AppliedVR's market penetration.
- Technical Challenge
-
Aspect: Predictable
Summary: The technology is mature with predictable development pathways.
VR technology has advanced significantly, reducing technical uncertainties in product development and deployment.
- Patent
-
Aspect: Strong
Summary: The company holds strong patents protecting its VR therapy solutions.
AppliedVR's patents safeguard its innovations, providing a barrier to entry for competitors and supporting long-term market positioning.
- Financing
-
Aspect: Well-funded
Summary: The company has secured substantial funding from reputable investors.
Investments from firms like F-Prime Capital and JAZZ Venture Partners provide the necessary capital for scaling operations and advancing product offerings.
- Regulatory
-
Aspect: 510k/PMA
Summary: The product has obtained FDA clearance for chronic pain management.
FDA clearance validates the product's safety and efficacy, enabling AppliedVR to market its solution to healthcare providers and patients.
Opportunity Rollup
- Odds of Success
- 2.9
- Peak Market Share
- 4.1
- Segment CAGR
- 15.71%
- Market Segment
- Virtual Reality Therapy
- Market Sub Segment
- Pain Management
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.20 |
| 2 | 0.61 |
| 3 | 1.43 |
| 4 | 2.87 |
| 5 | 4.10 |
Key Takeaway
AppliedVR's innovative VR-based chronic pain management solution addresses a significant clinical need, supported by strong financial backing and regulatory approval, positioning it well in a growing market despite competitive challenges.