Green Sun Medical
- Industry
- Medical Device
- Founded Year
- 2015
- Headquarters
- 320 East Vine Drive Suite 320, Fort Collins, Colorado, United States
- Employee Count
- 8
Key People
- Jamie Haggard - Co-Founder, Chief Executive Officer & Chairman
- Matthew Thompson - Co-Founder, Chief Technology Officer & Board Member
- Paul M. Thompson - Chief Strategic Officer & Founder
- Kevin Smith - Board Member
- Stephen Deitsch - Board Member
Assessment
- Team
-
Aspect: First-time 10+ yrs
Summary: The leadership team comprises first-time entrepreneurs with over a decade of experience in the medical device industry.
While the leadership team has significant experience in the medical device sector, their lack of previous entrepreneurial success may pose challenges in navigating the complexities of bringing a new product to market.
- Clinical Need
-
Aspect: Very Strong
Summary: There is a significant unmet need for non-surgical treatments for adolescent idiopathic scoliosis.
Adolescent idiopathic scoliosis affects approximately 3% of the U.S. population, with limited non-surgical treatment options. Green Sun Medical's dynamic brace offers a promising alternative to prevent spinal deformity surgery.
- Competition
-
Aspect: Somewhat crowded
Summary: The market has existing players offering traditional bracing solutions.
While the market for scoliosis braces includes established companies, Green Sun Medical's tech-enabled dynamic brace offers unique features that could set it apart, provided effective marketing and clinical validation.
- Technical Challenge
-
Aspect: Moderate
Summary: Developing a dynamic brace with real-time monitoring involves moderate technical complexity.
Integrating sensors and ensuring accurate real-time data transmission in a wearable medical device presents challenges, but with proper expertise and resources, these can be addressed effectively.
- Patent
-
Aspect: Very Strong
Summary: The company holds multiple patents for its bracing technology.
Green Sun Medical's portfolio includes patents such as US-10667940-B2 for 'Orthosis for deformity correction,' providing robust protection against competitors and potential licensing opportunities.
- Financing
-
Aspect: SBIR/SEED
Summary: The company has secured funding through grants and seed investments.
With over $1.7 million in funding from the National Science Foundation and other sources, Green Sun Medical has a solid financial foundation but will likely need additional capital for scaling and commercialization.
- Regulatory
-
Aspect: Pivotal Trial
Summary: The product is undergoing pivotal trials to demonstrate efficacy and safety.
The dynamic brace is currently in pivotal trials, a critical step before seeking FDA approval. The outcome of these trials will significantly impact the product's timeline to market.
Opportunity Rollup
- Odds of Success
- 3.75
- Peak Market Share
- 5.65
- Segment CAGR
- 3.0%
- Market Segment
- Orthopedic Devices
- Market Sub Segment
- Spinal Bracing
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.28 |
| 2 | 0.85 |
| 3 | 1.98 |
| 4 | 3.95 |
| 5 | 5.65 |
Key Takeaway
Green Sun Medical's innovative dynamic brace addresses a significant clinical need with strong IP protection, but faces challenges in market penetration and regulatory approval.