Optiscan reveals imaging device InSpecta for veterinary market

Optiscan has revealed a novel microscopic imaging device designed specifically for the veterinary medicine market segment.

Optiscan plans to enter the lucrative veterinary market with InSpecta. Pic via Getty Images.

• Optiscan reveals novel microscopic imaging device InSpecta, designed for veterinary medicine

• Device expands Optiscan’s product portfolio and entry into lucrative, high-growth global veterinary market

• Being tested at University of Minnesota College of Veterinary Medicine to support regulatory submissions

 

Special Report: Optiscan has revealed a novel microscopic imaging device designed specifically for the veterinary medicine market segment, delivering on a commitment to gradually expand its product portfolio as part of a broader growth strategy.

Optiscan (ASX:OIL) said the new trademarked device called InSpecta would be showcased at the prestigious American College of Veterinary Internal Medicine (ACVIM) conference in Louisville, Kentucky on June 19-21.

Built on its proprietary imaging technology, InSpecta is underpinned by Optiscan’s ViewnVivo platform, originally developed for life sciences applications.

Optiscan said InSpecta offered real-time, non-invasive imaging for a broad range of animals that was far superior to the way medical conditions were currently diagnosed and treated by veterinary professionals.

The compact, durable and portable device has a small footprint and has been ruggedised allowing use across multiple settings from an in-office environment to fieldwork in rural surroundings.

The company said it would enable rapid insights that enhanced diagnostics and treatment across the full veterinary medicine workflow, delivering faster, more effective care across a wide range of species.

Tapping into lucrative veterinary market

Optiscan said InSpecta provided it with an opportunity to fill an existing crucial gap in the highly lucrative veterinary medicine market and broadened the addressable market for its overall product suite.

The company said the market in the US alone was valued at ~US$11.92 billion in 2022 and projected to grow at a compound annual growth rate (CAGR) of 8.7% through 2030.

Optiscan said with around 76 million dogs and 60 million cats in US households, the demand for veterinary services, especially for treating complex conditions like cancer, was already huge and set to grow further over coming years.

While Optiscan’s initial focus will be demonstrating the ability of the InSpecta device to enhance diagnostics and treatment for companion animals, the company anticipates that the device would also offer immense potential across all categories of veterinary medicine.

The company said the equine veterinary sector, for example, stood to benefit from real-time, non-invasive imaging that improved surgical precision and diagnostic accuracy.

InSpecta will be tested at Optiscan’s veterinary medicine partner institution the University of Minnesota College of Veterinary Medicine.

This test work will allow the company to gather data on clinical use and to support regulatory submissions.

‘Device of choice for microscopic veterinary imaging’

Optiscan CEO and managing director Dr Camile Farah said the company was thrilled to reveal the InSpecta device to both investors and veterinary medicine professionals.

“Our design team should be extremely proud of their efforts to get this market-changing device to the reveal stage,” he said.

He said InSpecta offered veterinarians an easy to use, portable and robust imaging device which was purposefully designed for their needs.

“It can be used for both in vivo and ex vivo applications, broadening the appeal and applicability of the technology to the widest possible audience in veterinary medicine,” he said.

He said the device incorporated feedback from its interactions with veterinary medicine professionals over the course of its design stage.

“These two-way discussions saw us receive overwhelmingly positive responses about our planned introduction of this technology into the veterinary sector,” he said.

Farah said the veterinary device market was regulated in a different manner to the human medical device industry, which opens the way for our InSpecta device to gain earlier market entry into the new lucrative vertical.

Optiscan will refine the regulatory and commercial plans for InSpecta product in the remainder of 2025.

“This work will see our team continue to engage with the veterinary medicine industry exploring market opportunities, collaborations and partnerships that position InSpecta as the device of choice for microscopic veterinary imaging,” Farah said.

This article was developed in collaboration with Optiscan,  a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

Originally published as Optiscan reveals imaging device InSpecta for veterinary market