Newtec has created products that address challenges in the cardiovascular market and has designed a suite of unique vascular products, noting complications in all other systems and aiming to eradicate them. The company has also identified further applications for their products with the potential for expanding the product range or out-licensing opportunities.
Within the Cardiovascular device market, Newtec’s product mix is of high commercial interest and has a market value worth billions. Newtec are successfully developing products in a multi-billion-dollar sector which is growing at 8% per year. The growth in this market can primarily be attributed to the rapidly increasing obese population, the high prevalence of cardiovascular diseases across the globe and increase in longevity and ageing population.
The funding secured will be used to launch a new medical product that has been designed by surgeons, for surgeons.
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