Tangible Impact
The insights generated through Health Tech Enterprise’s research and stakeholder interviews provided Puddle Technology with independent validation of the sizeable market opportunity for their device. The resulting report:
- Confirmed Market Potential: Delivered clear insight into market growth and opportunities for an alternative visualization tool for thoracentesis.
- Prioritized Market Focus: Helped Puddle Technology refine their market strategy and target key markets.
- Identified New Applications: Uncovered additional care pathways where the device could deliver significant clinical and patient benefits, expanding its potential impact.
“Working with HTE has been really helpful to better understand and define the market opportunity for the Puddle device. Their thorough report into the market size and the clinician interviews they have conducted helped us shape our way forward, as well as identify new potential markets. Their insights will also be very valuable for securing future funding for Puddle Technology.” — Suliman Boulos, Founder of Puddle Technology
Assessing the Challenge
Pleural effusion, the buildup of fluid around the lungs, often requires a thoracentesis procedure. Currently, this procedure relies on ultrasound guidance, which can create bottlenecks in care pathways, lengthen patient wait times, and tie up valuable ultrasound resources.
Puddle Technology Ltd. is developing a groundbreaking solution to address these issues: a medical device that enables clinicians to perform thoracentesis without ultrasound. Operated similarly to an ultrasound probe, the device features an integrated color screen and haptic feedback, allowing clinicians to pinpoint the safest and most effective location for needle insertion by detecting the location of pleural fluids.
To solidify their market position and support fundraising efforts, Puddle Technology required a deeper understanding of the US and UK pleural effusion market, including incidence, prevalence, treatment trends, and clinical validation of their device’s potential impact.
Tailored Approach
Puddle Technology, supported with funding from UK EDGE Business Growth, partnered with Health Tech Enterprise (HTE) to conduct comprehensive market research and gather critical stakeholder insights. Our tailored approach included:
- In-depth Market Analysis: A detailed review of pleural effusion diagnoses and thoracentesis procedures in the UK and US. This involved evaluating market size, trends, Medicare reimbursement rates, healthcare provider fees for ultrasound-guided and non-ultrasound-guided procedures, and NHS tariffs for thoracentesis procedures.
- Direct Clinical Feedback: A series of semi-structured interviews with NHS healthcare professionals was conducted to assess the clinical utility of Puddle Technology’s device. These interviews provided invaluable feedback on the device’s potential benefits for both clinicians and patients, while also identifying further opportunities for its application.
