2010 Market Research Project Abstracts
Aiofe Roebuck, Kellogg College
Marketing internship encompassing Vicon’s motion capture product line and the Vicon Revue (device primarily used in memory loss rehabilitation)
Vicon is an Oxford-based company that specializes in motion capture. Their systems are used in three main areas: life sciences, entertainment and engineering.
Vicon had recently released a new product - Vicon Revue. At the time devices had been sold so it was possible to talk to each of these customers to find out what they were using it for, how they were getting on and anything they'd like to see added to the documentation. This information was going to be used by Vicon to find out what markets may be interested in Revue as well as troubleshooting any issues.
This project involved both the marketing and the PR departments with the tasks that they had on hand, including monitoring their YouTube channel, putting together PR coverage reports and updating customer details.
Yee Kai Tee, Wolfson College
Business Study on Cerebral Stents
Cerebral aneurysms affect approximately 43 million people in the world. Asia has the highest prevalence because it accounts for roughly 60% of the world population. Each year, about 200,000 patients with cerebral aneurysms experience a rupture. About half of them who have a ruptured brain aneurysm will die as a result; some recover from the rupture, but suffer from permanent disabilities.
Clipping and coiling are two widely accepted treatments for cerebral aneurysms. Recently, stenting has been shown to have better treatment outcomes than previous methods. The cost of treatment for clipping and coiling varies across different countries because of the different procedures for managing patients before and after a treatment which results in significant differences in hospitalization cost.
The global endovascular cerebral aneurysm repair device market in 2006 is reported to be $590 million. It increased to $660 million in 2007 and is expected to reach $1.1 billion in 2012 and $1.32 billion in 2015. The market for cerebral stents is reported to be $50 million in 2007.
Cerebral stents have been regarded as the main driver to underlie the rapid growth of the cerebral aneurysm repair device market in the future due to its promising potential in revolutionizing the treatment of the disease. There is a bright future and promising financial return for cerebral stents in this fast expanding market.
Alistair Johnson, Wolfson College
The Application of Localised Chemotherapy to the Liver
This document overviews the potential commercial application for isolated hepatic perfusion using a liver perfusion device developed by OrganOx. It first outlines and overviews the various alternative treatments of liver cancer, specifically in regards to either primary site or due to metastatic spread. The proposed treatment method is detailed, with the specific unique aspects of the OrganOx system highlighted. An estimated cost per treatment is proposed and justified, excluding maintenance and operating costs of the specific device. The approval processes required for the major territories corresponding to the primary markets for the proposed treatment are presented. The miscellaneous costs of each specific approval process is provided, though the main cost associated with verification of the device efficacy (as required by the approval processes) is not specified, as estimates of the cost of clinical trials would not be accurate. Following the presentation of the costs is a section outlining the methodology that must be undertaken to acquire approval in each major territory. Additionally, the potential market opportunities for the Isolated Hepatic Perfusion device in the majority of the larger countries of interest are specified. The final section analyzes the leading competitors in the same market and assesses their respective products.
Louis Mayaud, St Hilda’s College
“Intravenous cannulation” is one of the world’s most common medical procedure and consists in inserting a cannula in a patient's vein. Cannulation is not a straightforward procedure and can be really time consuming for staff and painful for patient. Problems occurring during IV-access due to patient specific conditions in addition to middle/long term treatment are major source of treatment delays, therapeutic escalation and infection risk leading to increased healthcare costs.
Novarix Ltd, a medical device start-up based in Oxford, has developed a prototype of a product called the Precise Device that helps staff to find the most appropriate vein to insert the cannula. As part of the first year of the Centre for Doctoral Training in Healthcare Innovation, the market research project was conducted both in France and UK during four weeks. The project involved:
- Gathering data on the market using different sources of information in order to reach a good estimate of the market's size.
- Carrying out a survey across 9 departments within 5 hospitals in UK and France to precise issues arising from cannulation and the potential usefulness and likely need for the Precise Device.
- Completing the competitor analysis in terms of intellectual property and competitive advantages, using an extensive research on patents database.
Henry Luckhoo, Trinity College
Assessing the Potential Market for Viral Vaccines Attenuated using MicroRNAs
MicroRNA attenuated virus vaccines are a novel type of live virus vaccine in which the wild-type virus is modified by including specific microRNA binding sites in the virus’s genetic code. These binding sites will prevent the virus from replicating in tissue where it can cause disease whilst allowing the virus to behave normally in tissue where it is harmless but can still elicit a strong immune response.
To assess the technology’s market potential, a comparison of existing vaccine technologies was carried out in order to establish the unique selling proposition of the invention. MicroRNA attenuated virus vaccines have the potential to be the most immunogenic vaccine technology with significant advantages in process and quality control that are not available to other live vaccines and with potential applicability to viruses that do not have marketable vaccines.
The global vaccine market was assessed. It has an estimated value of $21.3 billion and is forecast to grow by 13% per annum with much of this growth to be found in the developing world, China, India and Brazil. The vaccine market is dominated by 5 companies which make up 90% of the market.
The greatest marketing point for microRNA attenuated virus vaccines is the level of control of the attenuation process that may be afforded. Therapeutic vaccines have been discovered to be a possible alternative market for this technology. The report concludes that there is a potential market for microRNA attenuated virus vaccines but that the technology is only commercially attractive in specific niches.