Posted: 4 May 2023
Universal Biosensors, is delighted to announce it has today launched its PETRACKR blood glucose monitoring product for dogs and cats with diabetes globally.
To coincide with the launch, UBI announces it has signed three distribution partnerships in the United States of America and Canada and received initial purchase orders of circa $280,000. First year sales value from these three deals is expected to exceed $2 million with sales growth expected in the following years.
10,000 PETRACKR analysers and 375,000 diabetes test strips have been delivered or are in transit to UBI warehouses in the USA and Europe. Stock to fill “first orders” for the newly acquired UBI customers in the United States of America and Canada will be delivered during May.
UBI expect to announce first sales to additional distribution partners over the coming 6-8 weeks with multiple deals in the USA, Europe and Asia Pacific in the final stages of negotiation and documentation.
Mr John Sharman, CEO of UBI said; “We are delighted with the launch of our PETRACKR blood glucose monitoring product. Blood glucose monitoring in companion animals (dogs and cats) with diabetes is a growing market and is estimated to be $270 million p.a. Glucose test strip volumes are estimated to be approximately 150 million p.a. and device volumes in the order of 1 million p.a. The market is growing at 12% p.a. largely because of increasing pet adoption and increasing rates of obesity in pets globally”.
Mr Sharman said; “UBI is confident that our PETRACKR product, (which leverages UBI’s human blood glucose monitoring pedigree and technology) will be a better alternative for customers in terms of price, accuracy, latest technology, user App and overall performance compared to the current products available in the market. We expect PETRACKR to win significant market share over time.”
