Biotechnology is a branch of technology that primarily deals with medicine and biology. Biotech is a part of our everyday lives and has been for the last 6000 years in activities such as preserving food products. According to a report by Transparency Market Research, the worldwide market for biotechnology is predicted to grow at a CAGR of 11.6% all the way to 2017. Also, the biotech industry is poised to reach a value of $414.5 billion by the end of 2017 while it was valued at around $216.5 billion in 2011.
Vycor Medical (OTCQB:VYCO) works to give the medical community new and groundbreaking surgical and therapeutic solutions. The company has a portfolio of FDA-cleared medical solutions that are changing and improving lives every day. The company operates two business units: Vycor Medical and NovaVision, both of which adopt a minimally or non-invasive approach. Vycor Medical's ViewSite™ Surgical Access Systems (VBAS) is a series of clear tube-shaped disposable gadgets that hold the ability for speedier, more secure and more temperate brain surgeries and a faster patient release. NovaVision gives non-intrusive, computer-based restoration focused at a very untended to market of individuals who have lost their sight as an aftereffect of stroke, or mind harm.
In late November, Vycor Medical announced that it would be launching its European internet-delivered therapy suite at the 3rd European Conference of NeuroRehabilitation. NovaVision's therapy suite consists of Vision Restoration Therapy (VRT) and NeuroEyeCoach, which compensates for eye-movement. The therapy suite, which is conveyed to patients' computers using the internet, is intended to give significant advantages to the individuals who suffer from vision disorders because of stroke or other cerebrum damage. NovaVision has unveiled the treatment suite, in both German and English, and is currently in a position to tackle and treat new patients all around the world in those languages from its offices in the United States, Germany and the United Kingdom.
Chairman of Vycor and managing director of NovaVision in Germany, Adrian Liddell, stated: "The launch of our Internet-delivered Therapy Suite in Europe enables us to offer the most comprehensive and affordable therapy solution available today to patients and physicians out of our offices in Magdeburg, Germany and Aberdeen, UK. Our scalable Vision Therapy Suite targets a multi-billion dollar market opportunity in Europe, where it can help the large number people who suffer vision related disorders following a stroke or brain injury. We are delighted to be able to launch the European Therapy Suite at this important congress attended by Professors Zihl and Sahraie, who have been instrumental in its development."
NovaVision's multi-faceted marketing Strategy is designed to drive awareness & adoption into key interest groups. Of the company's inquiries, 47% come through the company's website. Furthermore VYCO's partnership with the American Stroke Association allows the company to take advantage of over 6,000 support groups in the US, identifying those at risk of vision problems associated with having a stroke. This has allowed the company to take advantage of the database and market directly to these potential users.
In addition to this, Vycor Medical has referral programs in place with physicians and other healthcare professionals. Being that VRT is a prescription only therapy, the NovaVision referral program has more than 200 prescribers and penetration in the rehabilitation space specifically with stroke rehab centers and clinics. When it comes to strokes, patients will most likely touch a rehab center or clinic at some point and this gives Vycor maximum exposure to new users at the point of use. This direct approach drives the potential for enhanced exposure to impact the bottom line and for investors, this directly can correlate to an increase in value especially with the early focus on unique biotech stocks in 2016.
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