introducing the Nora+
certainty when you need it most
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infertility in aus.
Infertility affects over 2 in 10 women in Australia (Hailes, 2019). With infertility rates doubling over the last 50 years, IVF technologies have been vital in providing couples a chance to grow their own families, in recent years. IVF clinics across Australia account for almost 7% of births made possible in our country, each year (Willis, 2019). Nado Fertility was established to help these numbers grow.
Fertility Rate vs Number of Births in Australia (ABS, various years).
In 2019 more than 61 000 births were recorded in Australia through the help of IVF practices. Demographic research by the Australian Bureau of Statistics were able to total 113 000 IVF cycles over 2017 - stated to be the highest recorded in the past decade (ABS, 2019).
“A lot of individuals - specifically women - are also choosing to develop their careers, and they’re having great opportunities!” Says Charles Coddington, an OB-GYN at Melbourne IVF, in Richmond (Doucleff, 2015).
Through this shift in demographics and the ongoing need to address infertility, the IVF sector is growing more than ever. As seen in the graph below, trends show that the birth rate through IVF is a consistent upward trend. With more patients requiring these services, comes the need to assist and address the emotional connotations many patients suffer. A healthy IVF experience relies solely on the relationship between the patient and their practitioner.
“So now, a lot of women are getting older before they can have children… we are needing more IVF services”.
Birth rate through IVF in Australia (aifs, 2019).
our mission
Our mission here at Nado Fertility is to provide our patients with as much clarity and reassurance during one of the most uncertain times one can face. By fostering healthier relationships and communication between practitioners and patients, Nado looks to create solutions which bring an additional level of comfort to families throughout their IVF journeys.
The average IVF process takes 4-7 weeks, with patients reporting a minimum of 2 clinical visits per week for tests and check-ups. With recent events in regards to limited access to IVF clinics and meeting with practitioners, Nado Fertility has developed the first at-home hormone tracking device for IVF patients. The Nora+ is a blood testing device which makes tracking more accessible and provides patients with real-time results - the difference between a successful or unsuccessful pregnancy.
N A D O F E R T I L I T Y .
Nora
+
[2] Nora+ Pen Device
disposable blood testing canisters, containing ten
blood testing strips within, to minimise refilling after
every use - directly samples 0.8mL of blood required
to provide hormonal readings. Blood is directly drawn through a prick mechanism initiated once the button is released. Canister must be replaced and disposed of, after 10 uses.
electronic component of the device with analysis technology built in. A screen display will allow ease of use and feedback to the user when blood has been sampled and general upkeep of the device - such as canister level, battery etc.
[1] Removable Testing Canisters
[3] Base & Charging Dock
at-home blood testing pen for IVF indicative hormones.
pen base required to charge and store the pen when not in use. Main source of power will be plugged into this component of the device.
our solution
The Nora+ is the first of its kind in the IVF realm. Through research and first hand mapping of practitioner and patient journeys, a key gap in the market surrounds communication tools between the two stakeholders. The Nora+ provide IVF patients with the opportunity to track 6 key hormones crucial to IVF success rates, from the comfort of their own homes. This eliminates the need for patients to visit clinics every 3-4 days during the initial weeks of their IVF journey.
Current tools for IVF patients do not allow for the immediate feedback. Traditional methods of testing require long wait times between clinical visits, which may be detrimental in identifying any complications and threats to an IVF cycle. The ability to test outside a clinical environment, providing the same feedback to the practitioner in real-time, is never before seen in fertility tools.
Expected Tracking
Nora+ application
patients can find a more detailed analysis of when hormone readings were out of range, with access to day-to-day readings of each hormone level. IVF nurses also receive this information, to keep the doctor informed in between clinical visits.
hormones which do not read within the excepted results, will notify the patient and practitioner + a full analysis of specific levels.
market.
IVF occupies approximately 28.4% of the total fertility market [Graph 1] (Richardson, 2020). Our industry partner, Virtus Health accounts for approximately 38.7% of the total market [Graph 2] (Richardson, 2020). However, within the IVF specific field Virtus Health accounts for 40% of the NSW, QLD, VIC and the ACT market (Virtus Health, 2020).
Our target market looks at women between the ages of 30-45. This user group will make up majority of the demographic using the Nora+ and application, with our secondary user group being health professionals and practitioners in the IVF field. Patients who conceive via IVF make up between 1%-2% of this age demographic.
graph 1
graph 2
sales projections
With over 36 clinics across Australia, it expected our partnership with Virtus Health will play an integral role in ensuring our sales projections are achieved. Utilisation across 40% of clinics (over 12/36 clinics) across Australia by the end of Q4 is expected. Business success will be determined by the incorporation of the Nora+ for patient use, through a minimum 12 clinics by the end of Q4 for 2021. Full incorporation of the Nora+, in each clinic will mean 90%+ of IVF patients and practitioners are using the device and application to track hormonal changes throughout their cycles by the end of the five year proposition.
Growth per year, means a minimum 10% increase in patients between Q1-Q4 of each financial year or the cumulative increase of 15% per annum. A breakdown of success over the first five years of implementation can be seen below. Expected projections can be broken down in the graphics below.
path to market
Partnering with Virtus Health gives Nado Fertility a direct and constant stream of consumers. With over 36 clinics across Australia and occupying over 35% of the largest stakeholder in market shares, distribution of the Nora+ is a simple Route to Market plan. It is planned to launch the Nora+ as part of updated IVF treatment within these clinics. Patients must consent to using such equipment in their home and the sharing of data (to their practitioner) via the application. Nora+ devices will initially be offered to all patients who are undergoing IVF treatments in a clinic partnered with Virtus Health + associated partners.
project timeline 2020-2022
use of funding.
the initial sum of $70 000 is required to start the initial path to market. Funding gained will be used for the startup costs associated in manufacturing and the first run of Nora+ devices. The remaining sum will be distributed into investment for the app development and other administrative costs - such as office spaces and marketing.
