Shared component:
For our project on the treatment of autism spectrum disorders, we calculated the market size as: TAM: $27.3 billion, SAM: $2 billion, and SOM: $200 million. According to the Allied Market Research Reports, the global autism spectrum disorders market was valued at $27.3 billion (2021). With the addressable market growing with a compound annual rate of 4.6%, the market is predicted to be valued at $43.2 billion. Since healthcare is one of the most regulated sectors, we have to be strategic about our SAM. After much deliberation, our group chose the US as our SAM for two major reasons. First, the USA’s per capita healthcare spending is the highest among the OECD nations. The US autism treatment market is valued at $2 billion. Secondly, although the US healthcare sector is highly regulated by governmental bodies such as the FDA, the process for approval of new treatments in the US is much more systematic compared to the rest of the world. We then arrived at a reasonable estimate that our product would be able to capture around one-tenth of the SAM, making our SOM to be approximately $1.7 billion for the first phase of our offering, i.e. limited to the US due to regulatory reasons such as government approvals and health insurance.
Individual Component:
I did 2 interviews and some quotes stood out the most to me. One was related to someone who has a family member with autism, and the other person with a person who is experiencing autism but cares about their health.
Qoutes:
“I want to care about his health, and I have a container for what pills he should take, but I sometimes get too busy and I forget to give it on-time.”
“I take my Whoop everywhere, even to shower to always keep track of my health and my mental status. Then I use my Garmin on the other wrist to cross-reference the data. Sometimes I feel like I’m over doing it tho because I don’t know what metrics are the most important”
