LAB 2 WRITE-UP
Device Image and Description
This device acts similarly to a hand dryer. The frame has two circular holes to place your hands within the hollow box. Your hands are then exposed to the bacteria killing UVC lights which are situated along the insides of the box. The dimensions of the box are 24 inches long, 12 inches high, and 12 inches deep.
Technical and Clinical Feasibility
The technologies required for our device include: a plastic box for the frame, a motion sensor, and UV lamps. There are essentially no challenges to producing this device. Similar technologies have been previously produced to sanitize surfaces. There is an easy and clear path to developing the device.
This device has already been proven to work. UVC light, the shortest wavelength of UV light, has been proven to kill 99.9% of most viruses, airborne bacteria, and mold spores. Devices such as nail salon UV lamps and UV sanitizing wands already exist. It should be fairly easy to receive a clinical trial for our device. There are clinical risks in that prolonged exposure to UV radiation could be potentially harmful to the skin. But again, there already are preexisting devices that use the same types of technology.
Our product creates a cleaner and safer environment for medical practices of any type by using UV radiation to eliminate the presence of bacteria. Using UV radiation will help medical professionals to save not only time by eliminating the need to wash their hands, but it will also help the environment by limiting the use of water.
Our product will cost $100 per unit to manufacture. This extimation has been calculate based off of the price of a 24" x 48" sheet of acrylic sold by Acme Plastics and also the potential pricing of the UVC lights.
The calculated sales price of our product is $400 per unit so that we will be able to make a profit on our design.
The amount of hospitals in the United States is 5,564. The amount of registered dentists in the US is about 186,000; assuming 2 dentists per practice leaves us with 93,000 offices. Adding these two numbers together brings us 98,564 buildings that we would be servicing with our product, we will also try to sell 10 units to each building. This would get us a market size for our product of $394,256,000. This amount of money is our total market size, using 5% as our realistic market we get $19,712,800.
Fast Facts on US Hospitals. American Hospital Association, 2006-2017, http://www.aha.org/research/rc/stat-studies/fast-facts.shtml
Health Care Industry Statistics. Statistic Brain Research Institute, 2017, http://www.statisticbrain.com/health-care-industry-statistics/
1 Customer Validation
2 Market Size
3 IP Position
3 Technical Feasibility
1 Regulatory Pathway
2 Clinical Feasibility
Our device does well in each area of the fundability table. There is a fairly large market size and little competition already existing in this market. No one has tried to bring UV cleansing technology to hospitals. The IP Position of our device is very strong because there are no existing patents on devices too similar to our own. The technical feasibility of this device is also very strong as the technology necessary to create this device is already well understood and in use. The clinical feasibility is likely as devices using similar technologies already exist such as UV cleansing wands and nail salon UV lamps. For these reasons our device shows potential and should be funded.