Thomas Sandgaard on market size
From Zynex Inc. Gains FDA Clearance for New TensWave Device, Expands Pain Management Solutions · · Proactive Investors
“Pain, or treating pain is a thirty billion dollar industry in this country.”
On , Thomas Sandgaard, Founder, President, Chief Executive Officer & Chairman at ZYNEX INC, spoke about market size during Zynex Inc. Gains FDA Clearance for New TensWave Device, Expands Pain Management Solutions on Proactive Investors.
About Thomas Sandgaard
Thomas Sandgaard, founder and CEO of Zynex, has been discussing the company's growth and product development in multiple media appearances. He stated that Zynex expects to reach $200 million in revenue in 2024, up from $13 million in 2016, and projected long-term revenue of $800 million in the pain management division. Sandgaard described the company's flagship NextWave device and noted that the sales force has grown to nearly 500 representatives, with plans to add 300 more. He also announced FDA clearance for a new TensWave device, which he said is intended for patients who cannot use the NextWave or when insurance prefers a TENS device. Sandgaard has also highlighted the company's hospital monitoring division, which he said has four products in development. He described a laser-based pulse oximetry device as a potential "game changer" that could more accurately measure oxygen, carbon monoxide, and methemoglobin levels, and could help detect sepsis. Sandgaard noted that the monitoring division has not yet generated revenue but that one product is nearing FDA submission. He also mentioned that Zynex has helped over one million patients with pain management and emphasized the company's focus on non-addictive alternatives to opioids.