The current device is used about 1.5 billion times annually, at a retail cost of about $1.3B. The replacement does not cost any more to manufacture or distribute.
To determine the price and market share for the improved replacement for the disposable medical device, you could start by conducting market research to understand the demand for such a product and the willingness of customers to pay for it. Additionally, analyzing the competitive landscape and potential barriers to entry can provide valuable insights.
Considering the current device's usage frequency and retail cost, the potential savings with the improved replacement could be substantial. However, it's crucial to carefully consider pricing strategies to maximize profitability while remaining competitive in the market.
As you navigate this process, you might find this article on medical device integration insightful: https://www.cleveroad.com/blog/medical-device-integration/]. It offers valuable perspectives on leveraging technology to enhance healthcare delivery, which could be relevant to your research.
