In the US, there are 28-30 million people are affected by urinary stone disease. It is estimated that each year more than 800,000 American suffer from renal stone episodes. In 1994, the reported prevalence of stone disease in the US was only 5.2%. The prevalence has increased to 12% in 2012. With the current rate of increase in the kidney stone incidence from 1960 to 2012, we anticipate to the prevalence of kidney stone disease at 20% by the year 2020. Our research team has developed a point of care device that patients could use to monitor risk factors for kidney stone at the convenience of their homes without going to the doctor office. This device will have significant commercial value in the near future. In order to determine its commercial potential, we must perform market analysis of the product. The objectives of this project are to 1) determine the market potential of the device, 2) perform market analysis, 3) design strategy and implementation, and 4) commercialization plan. At the end of the project, the student will learn how to conceptualize a marketable product, perform market analysis, and implement strategies for commercialization.
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