What is Flow Cytometry? Flow Cytometry uic April 05, 2013 Cell Sorting Flow Cytometry Workshop IGC.
Flow Cytometry Market Opportunities
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Transcript of Flow Cytometry Market Opportunities
SummaryThe SearchLite completed a Market Discovery Challenge for University of Michigan Pediatric Device Consortium (MPED) to assess the market potential for a novel flow cytometry device.
During the Market Discovery Challenge, The SearchLite clarified and validated the value proposition of the novel flow cytometry device, identified potential applications for the technology and performed an in-depth analysis of the market dynamics that would impact the adoption of the technology.
Based on the current state of the art assessment, identified merits, industry trends and the market size, The SearchLite was able to provide the client team with suggestions for markets with great potential for early revenue generation while they focus on research and development for clinical applications.
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Key Questions
● Is there a potential for applying a novel flow cytometry method in the detection of infectious diseases?
●Can this technology be employed for detection of cancer?
●What is the target market for this technology?
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Value Proposition
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Products & Services
• Identify and clarify the unique features of the technology that will facilitate its adoption
Pain Relievers
• What are the pain points that the customers have currently that this technology can help relieve?
Gain Creators
• What are the gains that this technology can create for a customer?
Industry Ecosystem
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Consultants
Device Makers
Research Laboratories
(Academic Core Labs, Clinical
Labs)
Clinicians, Physicians
Competitors
It was critical to get a 360° view and talk to industry experts and key opinion leaders with diverse experience and perspectives.
Market Segmentation
Third
Dimension
Second
Dimension
Application Settings Clinical
Option 1 Option 2
Option 3
IndustrialResearch
Option 3
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It was important to identify how the market was segmented based on the different dimensions that this industry had.
Option 2Option 1
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Product-Market Fit - Landscape
Each type of application was assessed on the basis of its Importance to the end user (Y-Axis),Product Market Fit (X-Axis) and the Market Size (Z-Axis).
0 2 4 6 8 100
2
4
6
8
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Product-Market Fit
Imp
ort
an
ce
Market Applica-tion 1
Market Ap-plication 3
Market Ap-plication 2
Market Ap-plication 4
Target Market Application
Third Dimension
Second Dimension
Application Setting
Research Lab
Option 2
Option 1
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Based on the Product Market Fit Evaluation, The SearchLite suggested The Target Market Application.
Target Market
Total Available Market $$$
Servable Available Market
$$
Target Market $
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The Actual Target Market was identified for the selected Market Application.
Technology Adoption Dynamics - Assessment
Job to be Done UsefulnessEase of
Use
Sensitivity and Specificity More Useful Easier
Sample Processing TimeParity Parity
Cost of Labor Less Useful Less Easy
Current State of Art – Value Proposition Comparison
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The Usefulness and Ease of Use of the Value Proposition was compared to the Current State of the Art against the Jobs to be Done from the end user’s perspective.
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Technology Adoption Dynamics - Assessment
Industry Trends Importance SWOT
High Sensitivity and Specificity Moderate Strength
Low Sample Processing TimeHigh Opportunity
Low Cost of Labor Low Weakness
Industry Trends – SWOT Assessment
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The Industry Trends and their importance to the end user were identified. The performance of the Value Proposition was assessed with respect to the identified trends.
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Market Adoption Forecast
PESSIMISTIC SCENARIO - Market Share / Revenue x% $
MODERATE SCENARIO - Market Share / Revenue 2x% $$
OPTIMISTIC SCENARIO - Market Share / Revenue 3x% $$$
The Technology Adoption Dynamics Assessment was used to quantify and estimate the potential market share and revenue for various scenarios.
OptimisticModeratePessimistic
Years
An
na
ul
Re
ve
nu
e
Recommendations
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●Based on the value proposition of the technology, the current state of the art and current state of the industry analysis, The SearchLite had several recommendations on the best market opportunities for the flow cytometry technology. The SearchLite was able to advise the client on aspects critical for quick adoption of the technology.
● The SearchLite also had recommendations for market opportunities that had potential for early adoption and would generate early revenue for the client.
The SearchLite is a Customer Discovery and Market Validation Platform for Early-stage Technologies & Startups
We mitigate market risk by understanding “Who cares and why”
Forecast early market share penetration and revenue :1. Clarify the target market / size2. Assess solutions & industry trends3. Forecast market share / revenue
Market Application Landscape
Technology Adoption Dynamics
Identify the most attractive commercial opportunities:1. Clarify the value proposition2. Understand who cares and why3. Assess alternative opportunities
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