Top 10 European device manufacturer was contemplating a major investment in digital pathology and wanted to understand the potential market. Furthermore, they wanted us to market test their current product to make a go/no go decision on moving the program forward.
Given the lack of FDA approval, US reimbursement and the comfort that pathologists had with the microscope, was the market large enough for such a major investment? What were the features that would make using digital pathology better than using a traditional microscope?
Approximately 50 primary interviews worldwide. Creation of a bottoms up financial market model with sensitivity analysis capability. Educating the executive team on the importance of digital pathology and creating a 5-year product roadmap to captivate their imagination and explain the long-term value of today’s platform.
Found that there was a new market forming for telepathology, in which China and the Gulf countries were interested in having US clinicians diagnose pathology electronically. Created financial forecast that incorporated that market and the opportunities ex-US, which met the company's hurdle rate. Obtained management buy-in on the creation of a software-as-a-service model. Today, Company is the leader in digital pathology and received the first FDA-approval in 2017 for their product in the United States.