About BIEL GLASSES
The name of the company comes from Biel, the son of two of the founders, who was born with Low Vision (LV). LV is a visual impairment 7x more common than blindness, that prevents carrying out daily tasks. Its most disabling effect is mobility issues due to risk of falls, collisions, and disorientation, causing dependence and social isolation. According to existing studies (Lafuma et al.), the economic impact of this dependency is more than €15,000/person/year, totaling more than €100,000 million/year in Europe. At Biel Glasses, we have created BIEL SMARTGAZE, a medical device consisting in smart glasses that use AI and robotics to detect obstacles, changes in the ground, etc., and then mixed reality (MR) to adapt this information to users sight so they can perceive them. It includes other useful functions such as zoom and image enhancement, adapting to the needs of each patient and providing a complete solution for people with LV. Soon, audible indications for people with total blindness will be added. Moreover, we are already working on the next version that will also provide a revolutionary safe and accessible navigation capability.
Our product is designed for people with BV who suffer from mobility problems. This occurs when there is loss of peripheral vision, as in diseases such as Glaucoma or Retinitis Pigmentosa. In Europe, there are around 7 million people with LV and mobility needs. According to our surveys, 57% of them are willing to pay up to 5.000€ for our solution, implying TAM of 9B€ in Europe. Our initial launch will be in Spain and Denmark, which represents about 98.000 patients within our TAM. As per our expansion plans, we aim to distribute our product in European countries covering 80% of the population by 2025
Our glasses have already been licensed (CE Mark) as a Class 1 medical device, allowing reimbursement of their cost in most European countries. We have carried out detailed market and market access studies in Spain, Denmark, the Netherlands and Germany, which have confirmed the reimbursement of products of the same category by social services, public health systems and insurance companies.
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