WELT Corp.
- Industry
- Healthcare Technology
- Founded Year
- 2016
- Headquarters
- 14F, 132 Teheran-ro, Gangnam-gu, Seoul, Republic of Korea
- Employee Count
- 23
Key People
- Sean G. Kang, MD, MPH - Co-Founder & CEO
- Ken Hyekang Roh - Co-Founder & CFO/Engineer
- Yujin Lee, MD, MPH - Chief Medical Officer
- Bok Yoon - Chief Technology Officer
- Danny Kim, PharmD - Chief Business Officer
Assessment
- Team
-
Aspect: Multiple successful MedTech entrepreneurs
Summary: The leadership team comprises experienced professionals with backgrounds in medicine, technology, and business.
The leadership includes individuals with extensive experience in healthcare and technology sectors, enhancing the company's capability to develop and commercialize innovative products.
- Clinical Need
-
Aspect: Very Strong
Summary: WELT addresses significant health issues such as metabolic risks and fall prevention.
By focusing on prevalent health concerns, WELT's products have the potential to make a substantial impact on public health.
- Competition
-
Aspect: Somewhat crowded
Summary: The digital health and wearables market is competitive with several established players.
To stand out, WELT must leverage its unique product offerings and strategic collaborations.
- Technical Challenge
-
Aspect: Moderate
Summary: Developing accurate and user-friendly health monitoring devices presents moderate technical challenges.
Ensuring device accuracy and user engagement requires ongoing research and development efforts.
- Patent
-
Aspect: Strong
Summary: WELT has secured patents for its smart belt technology.
Intellectual property protection enhances the company's position and deters potential competitors.
- Financing
-
Aspect: Well-funded
Summary: WELT has raised significant funding from reputable investors.
Adequate funding enables the company to invest in research, development, and marketing initiatives.
- Regulatory
-
Aspect: 510k/PMA
Summary: WELT is pursuing regulatory approvals for its digital therapeutics.
Compliance with regulatory standards ensures product safety and efficacy, facilitating market acceptance.
Opportunity Rollup
- Odds of Success
- 3.6
- Peak Market Share
- 4.6
- Segment CAGR
- 9.5%
- Market Segment
- Digital Health
- Market Sub Segment
- Wearable Health Devices
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.23 |
| 2 | 0.69 |
| 3 | 1.61 |
| 4 | 3.22 |
| 5 | 4.60 |
Key Takeaway
WELT Corp. is well-positioned in the growing digital health market, leveraging its innovative smart belt technology and strong leadership team to address significant healthcare needs.