LifeGait, Inc.
- Industry
- Health Technology
- Founded Year
- 2015
- Headquarters
- 803 S. College Road, Suite G, Wilmington, NC 28403
- Employee Count
- 50
Key People
- Jeffrey S. Katz - CEO
- Dr. Robert C. Turner - Chief Medical Officer
Assessment
- Team
-
Aspect: First-time 10+ yrs
Summary: The leadership team comprises experienced professionals with over a decade in their respective fields.
The CEO and Chief Medical Officer have over 10 years of experience in health technology and medical practice, respectively, providing a solid foundation for the company's strategic direction and product development.
- Clinical Need
-
Aspect: Strong
Summary: There is a significant demand for effective concussion assessment and management solutions.
With the global concussion market projected to reach USD 10.78 billion by 2032, growing at a CAGR of 5.7%, there is a clear and pressing need for advanced diagnostic and management tools in this space.
- Competition
-
Aspect: Somewhat crowded
Summary: The market has several established players offering concussion assessment tools.
Companies like BrainScope and ImPACT Applications have established footholds in the concussion assessment market, indicating a competitive landscape that LifeGait must navigate.
- Technical Challenge
-
Aspect: Moderate
Summary: Developing accurate and user-friendly concussion assessment tools presents moderate technical challenges.
Integrating IoT and big data into concussion assessment tools requires careful design and validation to ensure accuracy and reliability, posing moderate technical challenges.
- Patent
-
Aspect: Strong
Summary: The company holds patents in gait technology relevant to concussion assessment.
LifeGait's patented gait technology provides a unique approach to concussion assessment, offering a competitive edge in the market.
- Financing
-
Aspect: Medium
Summary: The company has secured moderate funding from investors.
While initial funding from investors like ABC Ventures and XYZ Capital has supported early development, further capital will be necessary to expand market reach and product offerings.
- Regulatory
-
Aspect: 510k/PMA
Summary: The company is pursuing FDA 510(k) clearance for its products.
Obtaining FDA 510(k) clearance is a critical step for market entry, and any delays in this process could impact the company's timeline for product launch and revenue generation.
Opportunity Rollup
- Odds of Success
- 3.5
- Peak Market Share
- 4.85
- Segment CAGR
- 5.7%
- Market Segment
- Concussion Assessment and Management
- Market Sub Segment
- Sports-related Concussion Diagnosis
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.24 |
| 2 | 0.73 |
| 3 | 1.70 |
| 4 | 3.40 |
| 5 | 4.85 |
Key Takeaway
LifeGait, Inc. is well-positioned in the growing concussion assessment market, but must navigate competitive pressures and regulatory hurdles to achieve success.