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The Market
According to a recent report compiled by the U.S. Department of Commerce, Economics and Statistics Administration and the U.S. CENSUS BUREAU (An Aging World: 2008, June 2009), the report identified nine trends that offer a snapshot of challenges:
The world’s population is aging.
People aged 65 and over will soon outnumber children under age 5 for the first time in history.
Life expectancy is increasing.
Most countries show a steady increase in longevity over time, which raises questions about the potential for the human lifespan.
The number of the oldest old is rising.
The world’s population aged 80 and over is projected to increase 233 percent between 2008 and 2040, compared with 160.
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The market segments are clearly defined and all are subject to a high-growth trend. One market is projected to exceed $160 million in the next three years. That is the physical disability market. Another market addresses a well-defined and unanswered need in orthopedic surgery and subsequent rehabilitation: the limitation of movement and restrictions post surgical procedures. A new and innovative design has been created to answer the needs of surgeons .
This market should begin at $20 million annually but could expand to several hundred million as soon as approvals are obtained for many varied surgical procedures. IDL, Inc. intends to license this technology to a larger company. The company becomes mature in year three. The company is potentially profitable in year one only if a proposed distribution agreement can be closed.
Our market is tremendous and stems from multiple sources including four demographic trends obtained from the US Census Department’s 2005-2007 American Community Survey outlining Disability Characteristics.
- Population with any disability
- Population With a sensory disability
- Definition: The percent of the total population that has sensory disabilities. A sensory disability is blindness, deafness, or a severe vision or hearing impairment.
- Population With a physical disability
- Definition: The percent of total population that has physical disabilities. A physical disability is a condition that substantially limits one or more basic physical activities, such as walking, climbing stairs, reaching, lifting, or carrying.
- Population With a self-care disability
- Definition: The percent of total population that are self-care disabilities. Difficulty dressing, bathing, or getting around inside the home is considered a self-care disability
Note: Management believes that accelerated FDA approval process will be available on all the devices since our devices fall under a listing of medical devices exempt from 510(k) and Good Manufacturing Practices (GMP) compiled from Title 21 Code of Federal Regulations (CFR) and recent federal register.
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