2016 European Glaucoma Therapy Technology Innovation Award
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Transcript of 2016 European Glaucoma Therapy Technology Innovation Award
BEST PRACTICES RESEARCH
© Frost & Sullivan 2016 2 “We Accelerate Growth”
Contents
Frost & Sullivan Background and Company Performance ................................................. 3
Industry Challenges .............................................................................................. 3
Technology Attributes and Future Business Value ..................................................... 4
Conclusion........................................................................................................... 6
Significance of Technology Innovation .......................................................................... 7
Understanding Technology Innovation .......................................................................... 7
Key Benchmarking Criteria .................................................................................... 8
Best Practice Award Analysis for Eye Tech Care SA ......................................................... 8
Decision Support Scorecard ................................................................................... 8
Technology Attributes ........................................................................................... 9
Future Business Value ........................................................................................... 9
Decision Support Matrix ...................................................................................... 10
The Intersection between 360-Degree Research and Best Practices Awards ..................... 10
Research Methodology ........................................................................................ 11
Best Practices Recognition: 10 Steps to Researching, Identifying, and Recognizing Best Practices ................................................................................................................. 12
About Frost & Sullivan .............................................................................................. 13
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Frost & Sullivan Background and Company Performance Industry Challenges
Ocular hypertension refers to the condition of chronic elevated pressure in the eyes.
Higher-than-normal intraocular pressure (IOP) is a result of the accumulation of aqueous
humor in the anterior chamber of the eye. The buildup of aqueous humor itself is a result
of the trabecular meshwork not draining the fluid from the eye fast enough. Ocular
hypertension is strongly associated with glaucoma, a family of eye disorders characterized
by the degeneration of the optic nerve. Although ocular hypertension does not always lead
to glaucoma, people with high IOP are considered at risk for glaucoma.
Damage to the optic nerve results in some vision loss, and progressive visual impairment
can result in total vision loss. The International Glaucoma Association (IGA) estimates that
more than 50 to 80 million people are living with glaucoma, of which over 12 million are in
Europe. In China, India, and several other Asian countries, millions of people have been
diagnosed with glaucoma, and millions of others remain undiagnosed. The World Health
Organization (WHO) has listed glaucoma as a priority eye disease, given it is the second
leading cause of blindness worldwide.
The damage to the optic nerve is irreversible, which means glaucoma cannot be
completely cured. However, glaucomatous conditions can be controlled, managed, and
prevented, the key to which is controlling ocular hypertension. Medication in the form of
eye drops is a first-line treatment option and remains the gold standard of care for
glaucoma; however, this line of treatment is riddled with challenges such as the patient’s
noncompliance to medication. Numerous clinical studies have reported that between 20
and 30% of patients were either completely noncompliant or had poor compliance with
prescribed medication. The chief reasons for poor compliance include forgetfulness,
difficulty in self-administering medication, and not following up with the physician to
adjust the dosage as the treatment progresses.
When medication proves ineffective, laser surgery is an option, and if the disease has
progressed to an advanced stage, invasive surgery is the preferred treatment option.
Surgery presents several challenges, despite its high efficacy and having an established
track record of safety. Surgery is expensive, necessitates a week-long recovery period,
and requires the expertise of a skilled surgeon. Given the prevalence of glaucoma,
particularly in developing countries, these requirements may be serious challenges to
adoption.
The urgency of such an option goes beyond immediate market need. As an age-related
disorder, glaucoma is also intricately tied to the ageing population. Thus, glaucoma
therapy needs a noninvasive, patient friendly and effective treatment procedure.
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Technology Attributes and Future Business Value
Industry Impact
Eye Tech Care (Lyon, France) has developed a noninvasive glaucoma therapy using
focused ultrasound technology. High-intensity focused ultrasound (HIFU) is an emerging
medical technology that uses focused ultrasound waves for therapeutic applications. HIFU
has found early adopters in areas such as lithotripsy, tissue ablation to treat prostate and
breast cancers, and the treatment of uterine fibroids. Eye Tech Care’s ultrasound ciliary
plasty (UCP) is currently the only HIFU-based medical procedure approved for the
treatment of glaucoma.
The impact of UCP on the glaucoma therapy industry cannot be missed. The UCP is an
outpatient procedure that is pain free, noninvasive, and nonrecurring, addressing
problems of patient discomfort and compliance simultaneously. By specifically targeting
the ciliary glands, UCP ensures the procedure’s accuracy and reproducibility.
Product Impact
Eye Tech Care has leveraged the HIFU technology in its flagship product, EyeOP1. With
this product, the company has successfully miniaturized the HIFU platform, making the
transducers the smallest and the most compact components used in the medical industry.
The architecture of the EyeOP1 device provides patients and physicians with several
benefits. The device consists of a central computer console that can control the dosage,
time, and other attributes related to the procedure. The ultrasound probe is designed in
the form of an eye piece (available in different sizes) to fit the target organ better. The
probe consists of 6 piezoelectric transducers, arranged in a circular array, that effectively
deliver the dosage to the ciliary gland in less than 3 minutes.
With its product’s elegant design, Eye Tech Care has created an intuitive and operator
friendly instrument. The product has 2 aspects that stand out, and the product’s impact on
glaucoma therapy cannot be overstated. First, the computer console and its central
operation make the EyeOP1 the only computer-assisted glaucoma therapy solution in the
market, minimizing the risk during the procedure. Second, the device makes the therapy
operator skill independent. Unlike surgery, a trained ophthalmologist is sufficient to carry
out the procedure, which will likely have a huge bearing on markets with limited experts in
glaucoma surgery.
Scalability
The UCP procedure leverages high frequency ultrasound to control the IOP, which is
fundamental to managing glaucoma. UCP functions by targeting the ciliary glands to
control the production of aqueous humor and is believed to open up additional drainage
pathways, both of which keep the IOP under control.
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As mentioned earlier, HIFU is an emerging tool in the biomedical industry, particularly the
therapeutics space. Dietrich Wolf, the Chief Executive Officer of Eye Tech Care, believes
the company has only scratched the surface of the HIFU technology and the UCP
procedure. Eye Tech Care is currently working on several projects that use the HIFU
technology in ophthalmology. Gauging the early success of EyeOP1 in glaucoma therapy
and the wide Blue Ocean opportunity, the future lies in the scalability of the technology
platform.
Customer Acquisition
The EyeOP1 device received an initial CE marking in 2010, empowering it to be used on
patients with advanced glaucoma. Based on its successful clinical results and its
established track record of safety and clinical efficacy, EyeOP1 received a CE mark
extension in February 2015. EyeOP1 is now indicated to treat any glaucoma patient,
preferably with an IOP over 21 mmHg, the eligibility being, of course, in the hands of the
physician.
EyeOP1 is evolving from a specialized tool to treat refractory glaucoma (or glaucoma that
remains uncontrolled even after medication and surgery) to a more mainstream treatment
option. Undoubtedly, the numerous patient benefits that EyeOP1 has to offer, such as
noninvasive, pain free, and fast acting, will attract customers.
Financial Performance
Since its CE marking in 2010, EyeOP1 has been used to treat over 3,000 glaucoma
patients in Europe in various stages of progression. Eye Tech Care is focused on
expanding its footprint in Europe, while developing an active marketing plan to enter the
Asian market.
Eye Tech Care’s impressive clinical performance and its understanding of the urgent
market need in Asia have attracted funding from Everpine Capital Ltd, a China-based
investor. Everpine invested €25 million in Eye Tech Care and supports the company’s
international expansion, particularly into China. Eye Tech Care plans to acquire the
regulatory clearance from the China Food and Drug Administration (CFDA) in 2017.
Everpine’s strategic investment will no doubt be a shot in the arm for Eye Tech Care as it
focuses its clinical research program and market entry in regions such as India and the
Middle East.
Visionary Innovation
By virtue of being the only company in the market to offer computer-assisted glaucoma
therapy, Eye Tech Care has already cemented its position as a technology leader. The
HIFU platform is marked by numerous innovative features, which extend into physician
and patient benefits.
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However, Eye Tech Care’s visionary innovation extends beyond the technical. The
healthcare industry has been well known for its focus on the West. The CE mark is often
viewed as a back door entry into the United States, which has strict regulatory
requirements. However, Eye Tech Care’s decision to look to the East is as impressive as it
is unusual. The company has astutely gauged the market potential and the urgent need in
these countries, where because of low awareness and a lack of structured screening
policies, glaucoma remains undetected until it is in its advanced stages. In cases where
medication will most certainly be ineffective and surgery would be expensive, EyeOP1 may
well emerge as a first-line treatment option.
Conclusion With its EyeOP1, Eye Tech Care has developed a novel, intuitive, and patient friendly
device for the treatment of glaucoma.
Eye Tech Care has set itself apart from its competitors in the European glaucoma therapy
market with EyeOP1, the only computer-assisted glaucoma therapy system. EyeOP1 uses
HIFU to control the IOP, which has a high-risk association with glaucoma. The computer-
assistance feature adds to the safety, reliability, and reproducibility of the device, enabling
trained technicians and ophthalmologists to complete a quick, painless, and noninvasive
procedure.
With its strong overall performance, Eye Tech Care has earned Frost & Sullivan’s 2016
Technology Innovation Award.
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Significance of Technology Innovation Ultimately, growth in any organization depends upon finding new ways to excite the
market, and upon maintaining a long-term commitment to innovation. At its core,
technology innovation or any other type of innovation can only be sustained with
leadership in three key areas: understanding demand, nurturing the brand, and
differentiating from the competition.
Understanding Technology Innovation
Technology innovation begins with a spark of creativity that is systematically pursued,
developed, and commercialized. That spark can result from a successful partnership, a
productive in-house innovation group, or the mind of a singular individual. Regardless of
the source, the success of any new technology is ultimately determined by its
innovativeness and its impact on the business as a whole.
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Key Benchmarking Criteria
For the Technology Innovation Award, Frost & Sullivan analysts independently evaluated
two key factors—Technology Attributes and Future Business Value—according to the
criteria identified below.
Technology Attributes
Criterion 1: Industry Impact
Criterion 2: Product Impact
Criterion 3: Scalability
Criterion 4: Visionary Innovation
Criterion 5: Application Diversity
Future Business Value
Criterion 1: Financial Performance
Criterion 2: Customer Acquisition
Criterion 3: Technology Licensing
Criterion 4: Brand Loyalty
Criterion 5: Human Capital
Best Practice Award Analysis for Eye Tech Care SA
Decision Support Scorecard
To support its evaluation of best practices across multiple business performance
categories, Frost & Sullivan employs a customized Decision Support Scorecard. This tool
allows our research and consulting teams to objectively analyze performance, according to
the key benchmarking criteria listed in the previous section, and to assign ratings on that
basis. The tool follows a 10-point scale that allows for nuances in performance evaluation;
ratings guidelines are illustrated below.
RATINGS GUIDELINES
The Decision Support Scorecard is organized by Technology Attributes and Future
Business Value (i.e., the overarching categories for all 10 benchmarking criteria; the
definitions for each criteria are provided beneath the scorecard). The research team
confirms the veracity of this weighted scorecard through sensitivity analysis, which
confirms that small changes to the ratings for a specific criterion do not lead to a
significant change in the overall relative rankings of the companies.
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The results of this analysis are shown below. To remain unbiased and to protect the
interests of all organizations reviewed, we have chosen to refer to the other key players
as Competitor 2 and Competitor 3.
DECISION SUPPORT SCORECARD FOR TECHNOLOGY INNOVATION AWARD
Measurement of 1–10 (1 = poor; 10 = excellent)
Technology Innovation Technology
Attributes
Future
Business Value
Average Rating
Eye Tech Care 9.5 9 9.25
Competitor 2 7.5 8.5 8.00
Competitor 3 7 7 7.00
Technology Attributes
Criterion 1: Industry Impact
Requirement: Technology enables the pursuit of groundbreaking new ideas, contributing
to the betterment of the entire industry
Criterion 2: Product Impact
Requirement: Specific technology helps enhance features and functionality of the entire
product line for the company
Criterion 3: Scalability
Requirement: Technology is scalable, enabling new generations of products over time,
with increasing levels of quality and functionality
Criterion 4: Visionary Innovation
Requirement: Specific new technology represents true innovation based on a deep
understanding of future needs and applications
Criterion 5: Application Diversity
Requirement: New technology serves multiple products, multiple applications, and
multiple user environments
Future Business Value
Criterion 1: Financial Performance
Requirement: High potential for strong financial performance in terms of revenues,
operating margins and other relevant financial metrics
Criterion 2: Customer Acquisition
Requirement: Specific technology enables acquisition of new customers, even as it
enhances value to current customers
Criterion 3: Technology Licensing
Requirement: New technology displays great potential to be licensed across many sectors
and applications, thereby driving incremental revenue streams
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Criterion 4: Brand Loyalty
Requirement: New technology enhances the company’s brand, creating and/or nurturing
brand loyalty
Criterion 5: Human Capital
Requirement: Customer impact is enhanced through the leverage of specific technology,
translating into positive impact on employee morale and retention
Decision Support Matrix
Once all companies have been evaluated according to the Decision Support Scorecard,
analysts can then position the candidates on the matrix shown below, enabling them to
visualize which companies are truly breakthrough and which ones are not yet operating at
best-in-class levels.
DECISION SUPPORT MATRIX FOR TECHNOLOGY INNOVATION AWARD
High
Low
Low High
Fu
ture B
usin
ess V
alu
e
Technology Attributes
Eye Tech Care SA
Competitor 2
Competitor 3
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The Intersection between 360-Degree Research and Best
Practices Awards
Research Methodology
Frost & Sullivan’s 360-degree research
methodology represents the analytical
rigor of our research process. It offers a
360-degree-view of industry challenges,
trends, and issues by integrating all 7 of
Frost & Sullivan's research methodologies.
Too often, companies make important
growth decisions based on a narrow
understanding of their environment,
leading to errors of both omission and
commission. Successful growth strategies
are founded on a thorough understanding
of market, technical, economic, financial,
customer, best practices, and demographic
analyses. The integration of these research
disciplines into the 360-degree research
methodology provides an evaluation
platform for benchmarking industry
players and for identifying those performing at best-in-class levels.
360-DEGREE RESEARCH: SEEING ORDER IN
THE CHAOS
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Best Practices Recognition: 10 Steps to Researching,
Identifying, and Recognizing Best Practices
Frost & Sullivan Awards follow a 10-step process to evaluate award candidates and assess
their fit with select best practice criteria. The reputation and integrity of the Awards are
based on close adherence to this process.
STEP OBJECTIVE KEY ACTIVITIES OUTPUT
1 Monitor, target, and screen
Identify award recipient candidates from around the globe
Conduct in-depth industry research
Identify emerging sectors Scan multiple geographies
Pipeline of candidates who potentially meet all best-practice criteria
2 Perform 360-degree research
Perform comprehensive, 360-degree research on all candidates in the pipeline
Interview thought leaders and industry practitioners
Assess candidates’ fit with best-practice criteria
Rank all candidates
Matrix positioning all candidates’ performance relative to one another
3
Invite thought leadership in best practices
Perform in-depth examination of all candidates
Confirm best-practice criteria Examine eligibility of all
candidates Identify any information gaps
Detailed profiles of all ranked candidates
4
Initiate research director review
Conduct an unbiased evaluation of all candidate profiles
Brainstorm ranking options Invite multiple perspectives
on candidates’ performance Update candidate profiles
Final prioritization of all eligible candidates and companion best-practice positioning paper
5
Assemble panel of industry experts
Present findings to an expert panel of industry thought leaders
Share findings Strengthen cases for
candidate eligibility Prioritize candidates
Refined list of prioritized award candidates
6
Conduct global industry review
Build consensus on award candidates’ eligibility
Hold global team meeting to review all candidates
Pressure-test fit with criteria Confirm inclusion of all
eligible candidates
Final list of eligible award candidates, representing success stories worldwide
7 Perform quality check
Develop official award consideration materials
Perform final performance benchmarking activities
Write nominations Perform quality review
High-quality, accurate, and creative presentation of nominees’ successes
8
Reconnect with panel of industry experts
Finalize the selection of the best-practice award recipient
Review analysis with panel Build consensus Select winner
Decision on which company performs best against all best-practice criteria
9 Communicate recognition
Inform award recipient of award recognition
Present award to the CEO Inspire the organization for
continued success Celebrate the recipient’s
performance
Announcement of award and plan for how recipient can use the award to enhance the brand
10 Take strategic action
Upon licensing, company may share award news with stakeholders and customers
Coordinate media outreach Design a marketing plan Assess award’s role in future
strategic planning
Widespread awareness of recipient’s award status among investors, media personnel, and employees
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About Frost & Sullivan
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