J&J exists stent business - Lessons to be learnt

A  very nice article on how J&J missed the first mover advantage in stent business...twice!

http://www.medcitynews.com/2011/06/end-of-jj-stent-business-carries-lessons-for-medical-device-innovators/

Innovation Strategy – Are you ready for all types of innovations?

These are my initial thoughts on the points which should be taken into account when an organization is preparing their innovation strategy. I am sure with your discussions and inputs, these thoughts will get fine tuned over time.

I would like to define or classify different types of innovations as following :

As organizations increase in size, they should prepare themselves for all three types of innovations.  

Internal R&D team can focus on incremental innovations. Innovation managers, with broader outlook and diverse technical skills, should be responsible for breakthrough innovations. The managers should go beyond their technical domain and look for technologies which can be integrated with the existing product line. If we look at Apple products, they brought flash memory created by Toshiba for their iconic iPod. Then they integrated the touch screen technology and lot more. An organization should always try to make their product better and in addition to the internal R&D, they should keep on looking for technologies developed outside. The technologies which are difficult to integrate can be used to get inspiration for the product development by internal R&D team.

The job of innovation manager should also include tracking the alternative solutions that are being developed to cater the same need as of their products. Disruptive Innovations come as a real threat and can take you out of business. They are also generally not tracked much. However, they should be monitored on a frequent basis and their progress should be reported to the Strategy team for decision making. The key to success lies in identifying the successful innovations early and acquiring such companies.

This is just an overview. My next articles will discuss these thoughts in details with case studies. I welcome all the suggestions and inputs. 

Disruptive Innovations in Ostomy Care - Time we look at it?

Ostomy care market is currently estimated at $2 billion with about 1.5 million patients worldwide. Currently, about 90% of the market share is captured by three key players – Coloplast, Convatec and Hollister.

Ostomy care products revolve around ostomy bags/pouches and skin barriers. The products come with the features such as odour control, leakage, bag cleaning, adhesions and many more. This has been working well for the industry for quite some time and I wonder if this is the right time to think about alternative solutions as well.

One such solution has come from an Israel based startup, Stimatix GI. The company has developed a device named Artificial Ostomy Sphincter (AOS-1000™) that provides continence and bowel control to the patient without the need to wear a traditional ostomy pouch. This device is currently under clinical trials and expected to be launched in the market in mid 2012. The company claims to bag 15% of the market share within the first few years of commercialization.

This concept itself is not new. Artificial sphincters have been successfully used for fecal incontinence. However, it was difficult to replicate the same with stoma as there was the risk of ischemia and necrosis of the intestinal wall because of excess pressure. Stimatix’s device solves this problem by controlling the pressure exerted on the intestinal wall using pressure gradients.

Stimatix is not the only one. Another small firm, Zassi Medical (now Leto Medical) has been working on restoring bowel evacuation control by artificial stoma sealing devices. Alternatively, they are also looking at electrical and chemical stimulation of the intestinal musculature for temporary continence.

Interestingly, one of the key players, ConvaTec, also has a product in market which is on similar lines. The product, Vitalla Continence Control device, enables the patients to be continent for around 8 hours. The device uses pressurized chambers to avoid excess pressure on intestinal wall.

These disruptive innovations are knocking on the doors in Ostomy Care domain. It will be interesting to watch this space in next 2-3 years.  Will the big players be interested at this stage or they will be in wait ‘n’ watch mode?