Puddle Technology Ltd. is developing a groundbreaking solution to address the issue of pleural effusion using 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.
The Technology
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.
The Puddle device will enable any doctor to detect and drain pleural effusion, fluids around the lungs, or abdominal ascites, fluids in the abdomen, without the need to wait for hours or sometimes days for a radiologist to preform the procedure under ultrasound guidance. The device will do that by calculating the distance between the skin surface and viable organs and will also calculate the amount of fluids and present this information in simple numbers on its screen. The use of this device can be also for monitoring the amount of fluids by healthcare staff at hospitals or hospices and by the patients if they are at home, helping to know when is the best time to go to the hospital and drain the fluids.
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.
Outcomes
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.
