Advamedica Inc.
- Industry
- Medical Devices
- Founded Year
- 2008
- Headquarters
- Cambridge, MA
- Employee Count
- 145
Key People
- Leo Mavely - Founder and CEO
Assessment
- Team
-
Aspect: 1 successful MedTech entrepreneur
Summary: Led by founder and CEO Leo Mavely, Advamedica benefits from his successful experience in the MedTech industry.
Leo Mavely's leadership and experience in the MedTech sector provide a solid foundation for Advamedica's operations and growth strategies.
- Clinical Need
-
Aspect: Very Strong
Summary: Advamedica's Axiostat addresses critical bleeding control needs in various medical scenarios.
Axiostat's effectiveness in stopping uncontrollable bleeding within minutes meets a significant clinical demand, enhancing patient outcomes in trauma care.
- Competition
-
Aspect: Somewhat crowded
Summary: The hemostatic dressing market includes several established players, presenting moderate competition.
The presence of multiple competitors in the hemostatic dressing segment necessitates continuous innovation and strategic marketing to maintain and grow market share.
- Technical Challenge
-
Aspect: Predictable
Summary: The development of Axiostat involves manageable technical challenges with established solutions.
Utilizing chitosan-based technology, Axiostat's development aligns with existing scientific knowledge, facilitating predictable manufacturing and application processes.
- Patent
-
Aspect: Very Strong
Summary: Axiostat is a patented product, providing robust intellectual property protection.
Holding a patent for Axiostat ensures proprietary rights, preventing direct replication by competitors and supporting sustained market presence.
- Financing
-
Aspect: Well-funded
Summary: Advamedica has secured significant funding from reputable investors.
With investments from entities like Madison India Capital and Omidyar Network, Advamedica is well-positioned financially to advance its initiatives and scale operations.
- Regulatory
-
Aspect: 510k/PMA
Summary: Axiostat has obtained FDA 510(k) clearance, facilitating its U.S. market entry.
Achieving FDA 510(k) clearance allows Axiostat to be marketed in the U.S., expanding its reach and credibility in the medical community.
Opportunity Rollup
- Odds of Success
- 3.6
- Peak Market Share
- 4.75
- Segment CAGR
- 6.3%
- Market Segment
- Wound Care Management
- Market Sub Segment
- Topical Hemostatic Agents
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.24 |
| 2 | 0.71 |
| 3 | 1.66 |
| 4 | 3.32 |
| 5 | 4.75 |
Key Takeaway
Advamedica's Axiostat addresses a critical clinical need with patented technology, supported by strong leadership and substantial funding, positioning it well in the growing wound care market.