Universal Biosensors Targets $1.48B US Water Testing Market with AQUASCOUT Device

Universal Biosensors' Expanding Product Suite

Universal Biosensors (ASX:UBI) continues to solidify its position as a global leader in handheld point-of-use testing technologies. The company’s diverse product range spans human health, veterinary, environmental, and beverage sectors, leveraging its proprietary electrochemical sensing platform. Most notably, Universal Biosensors is preparing to launch AQUASCOUT, a handheld device designed to detect heavy metals in water, addressing a critical need in environmental monitoring.

The AQUASCOUT platform targets a substantial US market estimated at US$1.48 billion annually, driven by regulatory mandates such as the US government's directive to remove all lead service lines by 2033. With over 13 million US homes affected by lead piping, AQUASCOUT offers utilities a rapid, cost-effective, and low-carbon footprint alternative to traditional laboratory testing, which is often slow and expensive. Field trials with US utilities are already underway, signaling strong commercial momentum.

Growth in Established Markets: Xprecia Prime and Sentia

Universal Biosensors’ Xprecia Prime, a handheld blood coagulation monitor for patients on warfarin therapy, received FDA approval in March 2024 and achieved its first US commercial sales in November 2024. The device boasts superior accuracy and usability compared to competitors, including Roche’s CoaguChek, and addresses a global market valued at approximately A$640 million annually. With 5,700+ devices already in use across 37 countries, the company anticipates significant sales growth in 2025.

In the wine industry, the Sentia handheld analyzer continues to gain traction, with Q3 2024 marking the largest quarterly sales by volume and revenue. Sentia enables winemakers to perform rapid, on-site chemical analyses, complementing traditional lab testing and delivering cost savings. Currently installed in over 1,750 wineries across more than 30 countries, Sentia’s total addressable market is estimated at A$610 million annually.

Veterinary and Laboratory Services Complement Core Offerings

Universal Biosensors is also expanding its veterinary testing footprint with Petrackr, a handheld glucose monitor for cats and dogs with diabetes. Launched in 2023, Petrackr is distributed in eight countries and now available direct-to-consumer through major online platforms. The veterinary market opportunity is valued at approximately A$165 million annually.

Supporting its product ecosystem, Universal Biosensors owns the Hemostasis Reference Laboratory (HRL) in Canada, which provides specialized blood coagulation testing and calibration services essential for regulatory compliance and product quality assurance.

Robust Intellectual Property and Manufacturing Capacity

The company’s technology is protected by 42 granted patents across 11 patent families in 21 jurisdictions, including a provisional patent for AQUASCOUT filed in seven major markets. Universal Biosensors operates a state-of-the-art manufacturing facility in Melbourne capable of producing up to 70 million test strips annually, supporting its global distribution and scaling ambitions.

Management, led by Managing Director John Sharman, emphasizes strategic partnerships and market expansion as key drivers for future growth. With a market capitalization of approximately A$24.7 million and cash reserves of A$12.7 million as of September 2024, Universal Biosensors is well-positioned to capitalize on emerging opportunities.