Specialty labs are great at investing new science to find new diagnostic tests that have clinical applications.
Where many such labs struggle is bringing new tests to market. Often this is done the traditional way, with an almost exclusive focus on the “supply side” of the market – physicians. In traditional go-to-market executions, specialty labs would employ expensive field sales force to call on and educate physicians one at a time. At the same time, similarly expensive key influencer campaigns would seek to gain traction with high profile physicians in an attempt to influence their colleagues clinical awareness and practice patterns. Then, after sufficient supply side awareness is built, many of these labs then license their technologies to the major labs, relying on them to further generate market awareness.