IntuiTap Medical

Industry
Medical Devices
Founded Year
2016
Headquarters
Houston, Texas, United States
Employee Count
10

Key People

Assessment

Team
Aspect: First-time 10+ yrs
Summary: The founding team comprises first-time entrepreneurs with over a decade of experience in the medical field.

The leadership team, including CEO Jessica Traver Ingram and CTO Nicole C. Moskowitz, brings significant medical expertise, enhancing the company's credibility and potential for success.

Clinical Need
Aspect: Very Strong
Summary: The device addresses a critical need for accuracy in spinal puncture procedures.

Spinal punctures are common yet challenging procedures. IntuiTap's device offers real-time imaging to assist physicians, meeting a significant clinical demand.

Competition
Aspect: First mover
Summary: IntuiTap appears to be the first to market with a comprehensive solution for spinal puncture guidance.

The lack of direct competitors in this niche allows IntuiTap to set industry standards and build strong brand recognition.

Technical Challenge
Aspect: Moderate
Summary: Developing a handheld device with real-time imaging capabilities presents moderate technical challenges.

Integrating imaging and needle guidance into a compact, user-friendly device involves overcoming technical hurdles related to hardware design and software integration.

Patent
Aspect: Strong
Summary: IntuiTap holds multiple patents for its technology.

The company's patents cover key aspects of their device, providing protection against potential competitors and adding value to the business.

Financing
Aspect: Medium
Summary: The company has secured moderate funding from grants and investors.

While initial funding supports development, scaling production and marketing efforts will likely necessitate further investment.

Regulatory
Aspect: 510k/PMA
Summary: The device has received FDA clearance.

Achieving regulatory approval is a significant milestone, indicating the device meets safety and efficacy standards required for clinical use.

Opportunity Rollup

Odds of Success
3.95
Peak Market Share
5.45
Segment CAGR
3.4%
Market Segment
Anesthesia and Respiratory Devices
Market Sub Segment
Spinal Puncture Guidance Systems
Year Post Launch Market Penetration (%)
1 0.27
2 0.82
3 1.91
4 3.82
5 5.45

Key Takeaway

IntuiTap Medical's innovative device addresses a significant clinical need with strong market potential, supported by a capable team and solid intellectual property.