Validating A $7 Million Health Solutions Market Opportunity

image of a woman in hospital room with antimicrobial lights, representing a health solutions opportunity

Share This Post

In her quest for health solutions to solve challenging problems, Colleen Costello founded Vyv (formerly Vital Vio), a manufacturer of “planet-friendly antimicrobial LED lights that combat the growth of bacteria, fungi, yeast, mold, and mildew.” After her grandmother contracted MRSA while hospitalized, Costello decided to find a better way to fight germs.

Vyv’s LED lighting fixtures provide numerous advantages. The lights provide nonstop protection for bacteria-sensitive environments, are safe to use around people, and are clean while lit. When Vyv wanted to know if there were additional markets for its fixtures, we collaborated with the Center for Economic Growth (CEG) to help Costello understand the compound pharmacies’ market opportunity.

Identifying new markets, ensuring growth

We researched the use of LED lighting fixtures in compound pharmacies to help our clients understand

  • whether there was a need for the Vyv fixture
  • purchasing decision criteria and barriers
  • price points.

Through our insights work, we confirmed the compound pharmacy market opportunity. Vyv attributed to this market $30,000 in new sales. The organization also set a $7.5 million revenue goal given estimated growth in this market. We informed our health solutions client of opportunities in markets that were previously unknown. And we connected them with a firm that designs clean rooms for pharmacies within hospitals nationwide.

Today compound pharmacies use Vyv’s lights.  Costello continues to expand her company into new markets, including the residential, emergency vehicle, food, airline, and education industries.

Let’s talk about how we can help your organization uncover growth opportunities.

More To Explore

water beading indicating repellency because of perfluorinated chemicals
Sustainability

Making Products Safer for Humans and the Environment

Are you a global consumer goods company that wants to understand which water and oil repellent coating technologies are safe for people and the environment? In recent work, a client was considering transitioning their products from long-chain to shorter-chain perfluorinated chemicals (PFCs). We provided an independent review of the science. which compelled our client to consider a safer alternative.

Let's get started today!