Proof of Market for a novel sensor system with applications in management of neuromotor impairments

Manus Neurodynamica Ltd (Manus) has developed a novel sensor technology from which a number of products with different applications could be developed within the healthcare sector for management of neuromotor impairments, such as Parkinson’s disease (PD) and stroke.
R&D so far has been focussed on technical development and clinical testing. Whilst from a technical perspective the technology appears to function well and is producing promising results, there are barriers to market entry and uncertainties regarding the various markets and business strategies. Preliminary market investigations by Manus clearly show the market potential and many opportunities for growth. However, the principal issue is that it is not clear what changes clinicians would make in patient management with Manus’ technology. Clinical studies that might be designed to prove any hypothetical benefits to early diagnosis, thus resulting in adoption by clinicians, would take years to perform. It can be concluded that a strategy based on marketing the technology immediately upon completion of trials for any application is unlikely to be cost-effective.
Manus needs to evaluate whether there are specific niches in patient management in various clinical settings, where the technology would be seen as beneficial. Resources can then be focused on R&D for the specific niche applications while the case for wider adoption of the technology can be built. In addition, Manus needs to fine tune their marketing pitch for the main applications.
The POM project enables to answer the outstanding questions regarding the marketing strategy. The resulting strategy and product development will come together in the final business plan, which will become the basis for further rounds of funding in 2013 and 2014 that will be used to launch the technology into the marketplace.