Hello and thanks for your question. It is helpful to consider whether the product you are looking to develop is patentable right from the word go before you spend too much time and money on the new product. Patent protection is a long lasting and strong intellectual property right once you have it in place. The existing patent owner here seems to have a very broad set of claims some of which may or may not be defensible.
We would recommend seeking professional advice from a patent attorney specialising in the relevant industry for your product. e.g. technology, engineering, chemistry etc or contacting an intellectual property lawyer. Both will be able to assist you to determine whether the scope of the existing patent has been drawn too broadly and is subject to attack. It will also be helpful to confirm that the product you are seeking to develop does not infringe on the existing or other patent owner's rights (ie conducting a freedom to operate search). Depending on the situation you may be able to negotiate an appropriate licence with the patent owner, develop a product outside the claims and seek your own protection or challenge their patent in some way. Good luck with next steps.