Uscom VENTITEST Global Release
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Uscom notified the market of the global release of the Uscom SpiroSonic VENTITEST ventilator test device. The device IP is globally protected by Patent Cooperation Treaty (PCT) for eighteen months and can then transition to patent applications for discrete jurisdictions.
The VENTITEST device was developed from Uscom’s digital ultrasonic spirometry technology in Uscom’s R&D centre in Budapest to meet the rapidly increasing demand for accurate ventilator calibration. Ventilator sales have dramatically increased for installation in critical care units worldwide to assist management of severe cases of COVID-19 and other infectious diseases. The release of the VENTITEST further diversifies Uscom’s product portfolio and revenue stream in a time of global uncertainty.
The VENTITEST provides high fidelity, simple and precise measurement of the flow, pressure and volume outputs of respiratory assist devices such as ventilators, anaesthesia devices, and home ventilations systems such as CPAP, and respiratory drug administration systems. These devices simply pump a prescribed flow of air, gas and medications into the lungs when natural breathing is impaired or needs support. With use the devices “slip” and require daily, weekly, monthly or annual calibration depending on the technology and the accuracy required of the device.
Uscom’s VENTITEST-S software that accompanies the device provides archiving, display, and analysis of flow, pressure, and volume waveforms with extended calculations, data logging and test report generation and printing.
Current test devices predominantly use differential pressure, turbine or thermopile technology but the VENTITEST is the first digital ultrasonic calibration device. Digital multi-path ultrasound has a resolution in the order of 2.5% for flow measurement, and combined with multiple piezoresistive monolithic silicon pressure sensors and on-board ambient pressure, temperature and humidity sensors provide the optimal and most stable flow, pressure measurement and calibration technology.
The initial VENTITEST business model is based on capital sales, however it is ideally suited for a “calibration as a service model” ensuring a continuous revenue stream from hospitals manufacturers, and home care respiratory support systems such as CPAP machines.
The global ventilator market was predicted, before COVID-19, to reach ~$2.8B (USD) in 2020 and further reach $27B by 2027, a ~10-fold increase. It’s estimated the US alone requires an additional 880,000 ventilators to deal with the current COVID-19 pandemic. Assuming clinical departments require 1 VENTITEST per 10 ventilators, and with a 10% market penetration the gross revenue is approximately $25M AUD.
The VENTITEST is expected to receive regulatory approval for sale into China, SE Asia, Europe and the US within three months following an accelerated non-medical device pathway, with device testing already complete.
Executive Chairman of Uscom, Professor Rob Phillips said “Uscom devices are developed to set new standards of accuracy and cost-effectiveness, and the VENTITEST is another of our premium products. The VENTITEST will be sold into hospitals, respiratory device manufacturers and home consumers across the world, all of which depend on accurate calibration of their respiratory devices for effective operation and optimal clinical outcomes. The global medical ventilators market is one of the fastest-growing segments in medical devices, and while it’s not difficult to manufacture ventilators, ventilator calibration requires technology with high levels of precision, and our ultrasonic sensors have been in development and clinical use for over 15 years. For Uscom this is a rational business expansion; specialising our own patented protected technologies into new products for a rapidly expanding market and unprecedented global needs. We are very proud of the VENTITEST and the accompanying VENTITEST-S, and look forward to marketing the device into our major markets of China, SEAsia, Europe, and the US. The response so far from dealers and distributors has been enthusiastic.”
Uscom manufactures and markets the USCOM 1A, the Uscom BP+, and the Uscom SpiroSonic digital ultrasonic spirometry technologies and the VENTITEST and VENTITEST-S ultrasonic ventilator calibration devices for optimising respiratory device performance.
References:
https://www.nsmedicaldevices.com/analysis/coronavirus-ventilators-global-demand/