LexaGene’s pathogen detection instrument aims to offer rapid and sensitive testing to multi-billion dollar markets in need of better vigilance against pathogens that could endanger health and harm business. LexeGene’s disruptive technology is on-demand and offers results in about an hour, unlike anything that’s been developed to date.
Veterinary Diagnostics
$4.2 Billion USD Market
- Market expected to grow at 8.6% per year
- Large animal and pet diagnostics
- Infectious diseases such as Kennel Cough can be quickly detected to prevent transmission
- Reference laboratory accounts for largest market share of the veterinary diagnostics market
- North America accounts for largest segment due to well-established animal healthcare market
Food Safety
$24.6 Billion USD market by 2023
- 6 B tests needed per year
- Mandatory food testing now required
- Prevents costly recalls, brand damage like Chipotle’s (resulting in a $6B devaluation)
- Fresher, safer product to customer (eliminates 2-day hold on food)
- 703 food recalls in the US last year
- Major disease causing pathogen: Salmonella/E. coli
Water Quality Testing
$3.5 Billion USD Market
- Municipal water testing (drinking water)
- Waste water treatment plants (verify cleanliness before releasing water into the surrounding ecosystem)
- Test for sewage overflow during rainstorms
- Test beaches for swim safety
Aquaculture Pathogen Testing
$3 Billion USD Market
- >$1B/year in losses possible from shrimp and salmon diseases
- The US aquaculture industry consists of approximately 3093 aquaculture farms
- Need for regular on-sight surveillance
- Risk of crop loss due to disease is much higher than in land-based farming
Pandemic Prevention
Worldwide pandemic threat to global safety
- Possibility of pandemic catastrophe is real
- LexaGene technology ideally suited to prevent pandemic spread
- Need rapid time to results for quarantine decisions
- Test at point-of-care required (hospitals, clinics, institutions)
- Need tests that can be easily deployed
- Require reagents that are easy to manufacture for worldwide coverage
- Current testing methods don’t meet the needs
Other Markets
LexaGene’s technology has a wide range of applications across other markets:
- Inspecting imports
- Pharmaceutical industry
- Research to identify the causative pathogen in biological samples
- Military bases and aircraft carriers
- Cruise ships