Atomo expects their pregnancy test to become their company's main product.
👉 Background: Atomo Diagnostics is an ASX-listed medical diagnostics company. They initially made headlines with their HIV rapid self-test, but then pivoted to COVID RAT tests during the pandemic... where they made bank!
👉 What happened: Now, RAT tests have seen their demand drop faster than a New Year's resolution. So, Atomo's looking at a new market: they're working on a unique blood-based rapid pregnancy test that's apparently going to be more accurate than the current over-the-counter options.
👉 What else: After the big pivot, Atomo expects their pregnancy test to become their company's main product. And the global addressable market is worth $2 billion...and growing.
💡Total Addressable Market or TAM is used to reference the total revenue opportunity available for a product or service. It's a fancy way of saying "If every star in the universe aligned perfectly, this is how much money we could make."
💡Shifting a company's focus to a new product is a risky move, so you want to be sure it'll be worth your while. That's why understanding the market potential is hugely important.
💡So while TAM can give a nice, rosy picture of potential, it's also important to ground it with realistic growth targets over time.
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