In this note, we delve into the scaling and commercialization of technologies for the Future of Blood Testing. At the outset several critical aspects need consideration:
1) The problem you are addressing – this note adopts a commercialization perspective, acknowledging that not all solutions to problems are economically viable.
2) Sustainability – for any MedTech idea to be sustainable, it must ultimately generate revenue to support stakeholders, including covering the salaries of those involved in providing and maintaining the technology.
3) Health economics – this informs whether your solution has an overall positive impact on stakeholders within the health system. While it serves as a macro-economic tool influencing policy, it may not drive immediate sales. Health economics is evidence for marketing your solution, raising investment, and supporting sales, but it should not be confused with a business plan, which outlines your sales and marketing strategy.
4) Business plan/business hypothesis document – This document defines the problem, your solution, the amount of money you aim to raise, and how you plan to repay the investment and generate profits.
In the points above, we haven’t mentioned the technology because the problem, your solution, and its short or medium-term profitability must be considered before delving into the specifics of technological solutions for Future Blood Testing.
The term “Future of Blood Testing” implies finger prick/fingerstick blood spot tests. The products that best exemplify this principle are the glucose strip tests used by diabetics, predominantly based on electrochemical sensors.
The diabetic glucose strip technology showcases essential technology requirements:
1) Manufacturability of sensors – Glucose strips, often made through screen printing, demonstrate a low-cost manufacturing technique when scaled up.
2) Manufacturability of hardware – The electronics required for electrochemical glucose assays can be produced at low cost in high volumes. The cost of hardware and electronics in these glucose meters reflects the underlying science of electrochemistry. Electrochemistry offers a direct connection between molecules in the blood and the electronics in the meter.
3) Minimum sample preparation – Any device intended for use outside centralized clinical laboratories must be user-friendly, requiring minimal manual handling. The glucose strip is an example where a drop of blood is placed on the sensing zone, and reagents are added, and blood is filtered through passive processes without user involvement.
When contemplating the commercialization of Future Blood Testing technologies, adopting a Lean Start-up mentality is advisable. This approach involves identifying key partners and suppliers. ZP provides a technology stack, manufacturing, and drop-shipping services, enabling businesses to take a flexible approach to MedTech development, including embracing the minimally viable product philosophy (MVP).
ZP offers technology and business services focused on the commercialization of blood testing technologies.
