Technical Feasibility
For this device we will need to be able to monitor heart rate, temperature, oxygen levels, and blood sugar levels in order to effectively determine the health of the infants. The challenges with this is that babies will not treat a pacifier well and it will need to be durable enough to not break or hurt the child in any way regardless of how poorly the pacifier is treated. The electrical components will also need to be kept safe without risk of separating from the pacifier because the infant could choke on it. If the pacifier were to be damaged or broken by the infant this could cause harm to them, not to mention making the purpose of this pacifier useless. Clinical Feasibility
This device will work in the clinic due to the fact that it is relatively simple to design in order to be safe for the user, and the different things it is measuring are relatively simple to determine with our current technology. The risks would be if the pacifier damaged the user in any way, however if the electrical components are firmly stored inside the pacifier then there should be no risk at all. Other products in this field got through all clinical trials very quickly and without any problems with their design. Our design incorporates more medical measurements and will therefore be more of a risk but no clinical issues are predicted to arise from this product.
Market Analysis
Value Creation
To be able to identify symptoms of possible diseases or viruses quickly in order to use preventative measures or timely responses to help keep infants who can't communicate how they are feeling. It will also provide the relief to parents knowing the health of their child at all times, instead of wondering if they actually have an illness. Manufacturing Cost
It will cost approximately 100 dollars to create each pacifier due to the electrical components which will be used inside this pacifier. The materials used to build this pacifier will not be expensive or difficult to obtain, the main issue is creating the electronic interior to monitor the various areas we are requiring of it. Sales Price
We will sell this product for approximately 175 dollars, however they will have warranties in order to encourage people to buy them because they will last more then just a month or two. The typical ASP will be 175 dollars because then the companies creating and selling this product will gain a profit. It is also not to much of an amount for consumers because of the guaranteed security it offers to the health of their children. Market Size
Millions of infants across the nation who's parents will want them to be safe and will purchase our product to help monitor the health of their children. We are expecting to sell approximately two million units a year, which would make our market size 350 million dollars per year.
Fundability Discussion
Technical Feasibility: 3
We gave ourselves a 3 on technical feasibility because the methods we are using have already been proven and implemented in a variety of medical practices. Our competitors also have similar products that we are improving upon with other known technology. Our product also has a very simple design which will be easy to manufacture.
Clinical Feasibility: 3
We gave ourselves a 3 on clinical feasibility because it will not be difficult to get through clinical trials quickly and without issues due to the low risk associated with our product. Other competitors also moved through clinical trials very quickly.
Market Size Feasibility: 2
Our market size is approximately 350 millions dollars per year which would put us in the 2 range for market size feasibility. This project would be funded because it will create a large profit with a constant demand with about 4 million babies being born each year in just the United States.
BME 100 Fall 2016
