Assignment | COVID-19 ANTIGEN TEST Marketing Plan Australia.
28 Pages7899 Words13 Views
Added on 2022-06-01
Assignment | COVID-19 ANTIGEN TEST Marketing Plan Australia.
Added on 2022-06-01
ShareRelated Documents
COVID-19
ANTIGEN TEST
Marketing Plan
Australia
Natalia Grasso
Anthony Moore
24734 Marketing Management May Pol-Intr
UTS Business School | Spring 2021 Lucas Wyte
ANTIGEN TEST
Marketing Plan
Australia
Natalia Grasso
Anthony Moore
24734 Marketing Management May Pol-Intr
UTS Business School | Spring 2021 Lucas Wyte
1
Table of Contents
Executive Summary 2
Situation Analysis 3
Market Summary 3
Market Needs 4
Market Growth 4
Market Trends 5
Competition 6
SWOT Analysis 8
Company Strategy 11
Vision 11
Mission Statement 11
Values 11
Business Units 12
Commercial Partnerships 13
Product Range 14
Product Pricing 16
Marketing Plan 17
Financial Projections 19
Implementation Controls 20
Appendix 22
References 25
Table of Contents
Executive Summary 2
Situation Analysis 3
Market Summary 3
Market Needs 4
Market Growth 4
Market Trends 5
Competition 6
SWOT Analysis 8
Company Strategy 11
Vision 11
Mission Statement 11
Values 11
Business Units 12
Commercial Partnerships 13
Product Range 14
Product Pricing 16
Marketing Plan 17
Financial Projections 19
Implementation Controls 20
Appendix 22
References 25
2
Executive Summary
Atomo Diagnostics Limited is a medical device company supplying unique, integrated rapid diagnostic
test devices to the global diagnostic market. Headquartered in Australia with global operations,
Atomo develops, manufactures and sells innovative patented devices that simplify rapid testing.1
Atomo Diagnostics is transforming rapid diagnostic testing with innovative, user-centred devices that
offer excellent performance and unmatched usability. As well as designing and developing unique
solutions for healthcare and diagnostics partners worldwide, Atomo also commercialises best-in-
class tests under its own brand.2
The COVID-19 pandemic has fundamentally changed how healthcare is being delivered and has
materially changed the diagnostics landscape and increased the size of the diagnostics market.
Historically, rapid testing techniques were best suited to laboratory environments and fell short of
what was required in the real world. The complex chemical analysis needed to collect and interpret
results was poorly understood and prone to misdiagnosis. Atomo Diagnostics leaned into this
challenge and developed a novel and easy to use device that has a multitude of potential applications.
It’s safer, more reliable and most importantly, allows people to quickly and easily test themselves.
Atomo’s focus is to grow through innovation and creativity, bringing best-in-class rapid testing
technology to those who need it most. By putting the user first, Atomo has reimagined blood-based
diagnostics to deliver simple, effective and accurate diagnostic devices. Atomo is leveraging that
same thinking beyond blood, by turning to innovate in the fields of saliva and swab sampling.3
Atomo’s strategic partnership with US firm Access Bio to distribute in Australia COVID-19 Rapid
Antigen Diagnostic Test Kits using nasopharyngeal swabs adds a new standalone product to the
company’s existing range of blood-based diagnostic devices and provides Atomo with an opportunity
to generate brand awareness and capture new sales opportunities within an emerging Australian
market.
1 J Kelly, FY20 Results Presentation, Atomo Diagnostics, 2020, p. 3.
2 J Kelly, Simply Better Diagnostics [corporate brochure], Atomo Diagnostics, 2016.
3 J Kelly, Atomo Annual Report 2021, Atomo Diagnostics, pp.5, 8.
Executive Summary
Atomo Diagnostics Limited is a medical device company supplying unique, integrated rapid diagnostic
test devices to the global diagnostic market. Headquartered in Australia with global operations,
Atomo develops, manufactures and sells innovative patented devices that simplify rapid testing.1
Atomo Diagnostics is transforming rapid diagnostic testing with innovative, user-centred devices that
offer excellent performance and unmatched usability. As well as designing and developing unique
solutions for healthcare and diagnostics partners worldwide, Atomo also commercialises best-in-
class tests under its own brand.2
The COVID-19 pandemic has fundamentally changed how healthcare is being delivered and has
materially changed the diagnostics landscape and increased the size of the diagnostics market.
Historically, rapid testing techniques were best suited to laboratory environments and fell short of
what was required in the real world. The complex chemical analysis needed to collect and interpret
results was poorly understood and prone to misdiagnosis. Atomo Diagnostics leaned into this
challenge and developed a novel and easy to use device that has a multitude of potential applications.
It’s safer, more reliable and most importantly, allows people to quickly and easily test themselves.
Atomo’s focus is to grow through innovation and creativity, bringing best-in-class rapid testing
technology to those who need it most. By putting the user first, Atomo has reimagined blood-based
diagnostics to deliver simple, effective and accurate diagnostic devices. Atomo is leveraging that
same thinking beyond blood, by turning to innovate in the fields of saliva and swab sampling.3
Atomo’s strategic partnership with US firm Access Bio to distribute in Australia COVID-19 Rapid
Antigen Diagnostic Test Kits using nasopharyngeal swabs adds a new standalone product to the
company’s existing range of blood-based diagnostic devices and provides Atomo with an opportunity
to generate brand awareness and capture new sales opportunities within an emerging Australian
market.
1 J Kelly, FY20 Results Presentation, Atomo Diagnostics, 2020, p. 3.
2 J Kelly, Simply Better Diagnostics [corporate brochure], Atomo Diagnostics, 2016.
3 J Kelly, Atomo Annual Report 2021, Atomo Diagnostics, pp.5, 8.
3
Situation Analysis
Market Summary
The global COVID-19 antigen test market size was valued at AUD 7 billion in 2020 and is expected to
expand at a compound annual growth rate of 6.7% from 2021 to 2027.
The COVID-19 antigen tests are gaining traction in the current scenario, as it is easy to use, patient-
friendly and has a shorter test-to result timeline. Timeline and scalability challenges pertaining to
SARS-CoV-2 PCR testing are the primary factors that are increasing the uptake of antigen-based test
approaches in turn driving the growth of the market.
The emergence of COVID-19 variants in the UK, South Africa and Brazil, which are found to be more
transmissible than the original strain, intensified the need for rapid tests. Rising concern over the
spread and frequency of these variants is expected to fuel the demand for widespread testing.
Owing to this, the market for COVID-19 antigen tests is expected to witness lucrative growth in the
near future.4
Figure 1 Global COVID-19 antigen tests market share by end use 2020 %
Note: Clinics & Hospitals 49.3%, Diagnostic Labs 27.4%, Home Care 15.2%, Others 8.1%.
From COVID-19 Antigen Test Market Size, Share & Trends Analysis Report By Product & Service (Reagents & Kits,
Platforms), By End Use (Clinics & Hospitals, Home Care), By Region, And Segment Forecasts, 2021 – 2027 by Grand View
Research. https://www.grandviewresearch.com/industry-analysis/covid-19-antigen-tests-market
4 COVID-19 Antigen Test Market Size, Share & Trends Analysis Report By Product & Service (Reagents & Kits, Platforms),
By End Use (Clinics & Hospitals, Home Care), By Region, And Segment Forecasts, 2021 – 2027, Grand View Research,
2021, GVR-4-68039-389-7.
Situation Analysis
Market Summary
The global COVID-19 antigen test market size was valued at AUD 7 billion in 2020 and is expected to
expand at a compound annual growth rate of 6.7% from 2021 to 2027.
The COVID-19 antigen tests are gaining traction in the current scenario, as it is easy to use, patient-
friendly and has a shorter test-to result timeline. Timeline and scalability challenges pertaining to
SARS-CoV-2 PCR testing are the primary factors that are increasing the uptake of antigen-based test
approaches in turn driving the growth of the market.
The emergence of COVID-19 variants in the UK, South Africa and Brazil, which are found to be more
transmissible than the original strain, intensified the need for rapid tests. Rising concern over the
spread and frequency of these variants is expected to fuel the demand for widespread testing.
Owing to this, the market for COVID-19 antigen tests is expected to witness lucrative growth in the
near future.4
Figure 1 Global COVID-19 antigen tests market share by end use 2020 %
Note: Clinics & Hospitals 49.3%, Diagnostic Labs 27.4%, Home Care 15.2%, Others 8.1%.
From COVID-19 Antigen Test Market Size, Share & Trends Analysis Report By Product & Service (Reagents & Kits,
Platforms), By End Use (Clinics & Hospitals, Home Care), By Region, And Segment Forecasts, 2021 – 2027 by Grand View
Research. https://www.grandviewresearch.com/industry-analysis/covid-19-antigen-tests-market
4 COVID-19 Antigen Test Market Size, Share & Trends Analysis Report By Product & Service (Reagents & Kits, Platforms),
By End Use (Clinics & Hospitals, Home Care), By Region, And Segment Forecasts, 2021 – 2027, Grand View Research,
2021, GVR-4-68039-389-7.
4
Market Needs
The rapid tests are regarded as particularly useful in identifying asymptomatic cases which are
expected to grow as Australia’s vaccination rate hits 80 per cent and symptoms are masked.
Vaccinated Australians are far less likely to be infected with COVID but breakthrough cases can occur
and the vaccinated can in some cases transmit the virus.
As Australia moves to the next phase of managing COVID-19, these tests will become more
commonplace as rapid antigen tests may be useful in diagnosing infections in people who have no
symptoms.
Test to protect
testing of people in vulnerable settings such as aged care facilities
Test to release
frequent testing of those who have been exposed to COVID to allow them to be released from
quarantine earlier
Test to enable
antigen testing to allow safer return to normal activities such as visiting aged care homes or
attending large sporting events5
Market Growth
Drivers of growth in the COVID-19 business:
• A large and growing market forecast for COVID-19 antibody testing
• Essential services, corporates and institutions seeking to safely manage ongoing return to
work programs
• Roll out of large-scale antibody testing in the vaccine deployment phase of the pandemic
• The need to deploy self-testing if high volume community-based testing is to be achieved
• Surge in demand in Australia for antigen tests since July sell substantially more tests in two
months than all of the previous year
• More than 50 corporate clients in Australia now using Atomo rapid antigen tests across a
broad range of private and public sectors6
5 S Maiden, Rapid antigen test kits available to Australians from November 1, news.com.au, 2021.
6 J Kelly, FY21 Results Presentation, Atomo Diagnostics, 2021, p. 6.
Market Needs
The rapid tests are regarded as particularly useful in identifying asymptomatic cases which are
expected to grow as Australia’s vaccination rate hits 80 per cent and symptoms are masked.
Vaccinated Australians are far less likely to be infected with COVID but breakthrough cases can occur
and the vaccinated can in some cases transmit the virus.
As Australia moves to the next phase of managing COVID-19, these tests will become more
commonplace as rapid antigen tests may be useful in diagnosing infections in people who have no
symptoms.
Test to protect
testing of people in vulnerable settings such as aged care facilities
Test to release
frequent testing of those who have been exposed to COVID to allow them to be released from
quarantine earlier
Test to enable
antigen testing to allow safer return to normal activities such as visiting aged care homes or
attending large sporting events5
Market Growth
Drivers of growth in the COVID-19 business:
• A large and growing market forecast for COVID-19 antibody testing
• Essential services, corporates and institutions seeking to safely manage ongoing return to
work programs
• Roll out of large-scale antibody testing in the vaccine deployment phase of the pandemic
• The need to deploy self-testing if high volume community-based testing is to be achieved
• Surge in demand in Australia for antigen tests since July sell substantially more tests in two
months than all of the previous year
• More than 50 corporate clients in Australia now using Atomo rapid antigen tests across a
broad range of private and public sectors6
5 S Maiden, Rapid antigen test kits available to Australians from November 1, news.com.au, 2021.
6 J Kelly, FY21 Results Presentation, Atomo Diagnostics, 2021, p. 6.
5
Atomo is progressing negotiations with potential applications in several areas:
• Public health authorities – increased testing (including self-testing) of populations to
understand exposure and transmission and advise public health policy
• Military and institutional public health channels
• Essential services
• People coming out of quarantine to ensure that they are safe to re-enter the community
• Assessing fly-in, fly-out workers at mining sites and other institutional settings as well as
remote healthcare deployment
• Corporate wellness and safe work programs
• Aged care and nursing facilities screening
• Future travel, tourism and vaccine delivery segments7
Market Trends
Singapore has recently distributed home testing kits to all households nationally, free of charge. It’s
hoped people will use these tests if they have been in contact with a known case, or if they have
symptoms of COVID.
Rapid antigen tests have also been used in schoolchildren in the United Kingdom. Daily testing of
children exposed to COVID in school was shown to be an acceptable alternative to self-isolation to
prevent transmission, while allowing children to remain in class.8
Three million tests have been processed during this outbreak. That’s an incredible number that shows
Victorians are getting tested at the first sign of symptoms and protecting each other. As we move
towards a different way of managing this virus as a vaccinated population – and with TGA approval –
we can now broaden our range of innovative testing measures and implement rapid testing
technology to support standard PCR testing.9
7 J Kelly, FY20 Results Presentation, Atomo Diagnostics, 2020, pp. 9-10.
8 P Kinsella & D Williamson, Rapid antigen tests have long been used overseas to detect COVID. Here’s what Australia
can learn, The Conversation, 2021.
9 M Foley, More Than Two Million Rapid Antigen Tests On The Way, Premier of Victoria, 2021.
Atomo is progressing negotiations with potential applications in several areas:
• Public health authorities – increased testing (including self-testing) of populations to
understand exposure and transmission and advise public health policy
• Military and institutional public health channels
• Essential services
• People coming out of quarantine to ensure that they are safe to re-enter the community
• Assessing fly-in, fly-out workers at mining sites and other institutional settings as well as
remote healthcare deployment
• Corporate wellness and safe work programs
• Aged care and nursing facilities screening
• Future travel, tourism and vaccine delivery segments7
Market Trends
Singapore has recently distributed home testing kits to all households nationally, free of charge. It’s
hoped people will use these tests if they have been in contact with a known case, or if they have
symptoms of COVID.
Rapid antigen tests have also been used in schoolchildren in the United Kingdom. Daily testing of
children exposed to COVID in school was shown to be an acceptable alternative to self-isolation to
prevent transmission, while allowing children to remain in class.8
Three million tests have been processed during this outbreak. That’s an incredible number that shows
Victorians are getting tested at the first sign of symptoms and protecting each other. As we move
towards a different way of managing this virus as a vaccinated population – and with TGA approval –
we can now broaden our range of innovative testing measures and implement rapid testing
technology to support standard PCR testing.9
7 J Kelly, FY20 Results Presentation, Atomo Diagnostics, 2020, pp. 9-10.
8 P Kinsella & D Williamson, Rapid antigen tests have long been used overseas to detect COVID. Here’s what Australia
can learn, The Conversation, 2021.
9 M Foley, More Than Two Million Rapid Antigen Tests On The Way, Premier of Victoria, 2021.
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Contemporary Developments in Business and Managementlg...
|21
|4557
|431