"The main work carried out over the project has been establishing the key markets where the Myosuit can support patients' training.
Over the past 8 months, prior to entering the market as a medical device, we have evaluated several business models with potential customers. In this process we have identified the key shortcomings of comparable technology. Today, robotic technology for movement training is mostly limited to specialized rehabilitation centers with large investment budgets, large spaces where to host the technology, and specialized personnel. These solutions range in price from €80k to €400k. Patients thus have limited access to this technology which can limit their ability to engage in regular physical activity.
One key outcome of the work performed has been the segmentation of our target market into three key segments: inpatient rehabilitation, outpatient rehabilitation, and self-directed rehabilitation. These 3 market segments are characterized by different willingness to invest in technology, different resources available to adapt new technology, and different expectations for the use of innovative technology.
Inpatient rehabilitation centers refer to larger clinics where patients typically spend a few weeks at a time. These larger centers are the best equipped to invest in new technology, integrate it into clinical practice, and are also typically the most up-to-date in the use of new technology. Outpatient centers represent a market size that is around 100 times larger than inpatient centers. However, the investment capability of this market segment is much smaller and they are typically less likely to invest the time and effort needed to integrate new technology into their daily practice. Finally, the self-directed rehabilitation market (e.g. home market) has the lowest willingness to invest and also places very high expectation on the capacity for technology to ""solve"" their problems related to mobility.
Following this segmentation of the market, we have adapted our approach to each market to meet their key needs for movement training. One exciting outcome during this time has been the ability to successfully sign contract with customers in each market segment. This is particularly the case for inpatient and outpatient centers. We are only indirectly addressing the self-directed market as having a version of the technology that can be used in daily life requires a significant investment of resources for development.
An additional development has been on digital products that support training with the Myosuit. The Myosuit is supported by two additional technologies: 1) Myosense–a cloud platform that aggregates and analyzes the movement data tracked while patients train with the Myosuit, and 2) Myotraining—and intelligence engine that designs personalized training plans for patients based on their goals and needs for training. This combination makes up the MyoSwiss platform."
