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OmniActive Health Technologies Award Write Up

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2017 North American Eye Health Ingredient Product Leadership Award

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OmniActive Health Technologies Award Write Up

  1. 1. 2017 North American Eye Health Ingredient Product Leadership Award
  2. 2. BEST PRACTICES RESEARCH © Frost & Sullivan 2017 2 “We Accelerate Growth” Contents Background and Company Performance ........................................................................3 Industry Challenges..............................................................................................3 Product Family Attributes and Business Impact ........................................................3 Conclusion...........................................................................................................6 Understanding Product Leadership................................................................................7 Key Benchmarking Criteria ....................................................................................8 Best Practices Award Analysis for OmniActive Health Technologies ...................................8 Decision Support Scorecard ...................................................................................8 Product Family Attributes ......................................................................................9 Business Impact...................................................................................................9 Decision Support Matrix ......................................................................................10 Best Practices Recognition: 10 Steps to Researching, Identifying, and Recognizing Best Practices .................................................................................................................11 The Intersection between 360-Degree Research and Best Practices Awards.....................12 Research Methodology ........................................................................................12 About Frost & Sullivan ..............................................................................................12
  3. 3. BEST PRACTICES RESEARCH © Frost & Sullivan 2017 3 “We Accelerate Growth” Background and Company Performance Industry Challenges Frost & Sullivan research suggests that the eye health ingredient market will witness increasing growth alongside the gradual increase in awareness among consumers on the health benefits of carotenoids (lutein, RR-zeaxanthin and meso-zeaxanthin). Current use of these ingredients in food supplements and beverages is quite limited and has yet to gain a strong foothold in North America. On a global scale, the United States dominates the eye health supplement market with the maximum number of product launches - followed by Europe and Asia. Although some products with the combination of lutein and zeaxanthin do relate to eye health, the majority are not known to offer superior efficiency and bioavailability. Carotenoids are pigments responsible for yellow and red color in plants. There are more than 600 carotenoids in nature, out of which lutein, zeaxanthin, and meso-zeaxanthin are the only 3 found in the human eye, specifically in the macula that is responsible for high visual acuity and sharpness of vision. Collectively called macular carotenoids, these 3 are potent antioxidants and filters of high-energy blue light and support visual function. Few products in the market offer the combination of these 3 carotenoids in a standardized form that are essential to supporting eye health. And even though they are found primarily in the eye, there are other areas of the body – most notably the skin and brain - that have also been clinically shown to benefit from lutein and zeaxanthin. Participants in the eye health ingredient market report to Frost & Sullivan how they are continuously striving to achieve optimistic results with regards to efficiency and bioavailability and formulation plays a key role in this effort. With increasing awareness and concern among consumers about eye health, Frost & Sullivan believes that companies must further understand rising market demand and speed up research processes to launch newer products that cater to the eye health ingredient market. Demonstrating the short- term and long-term benefits of macular carotenoids across all age groups has been the focus of OmniActive Health Technologies. Through an ambitious plan of vertically integrated manufacturing, clinical research, formula development, consumer education and consumer research through their market insights program, OmniActive’s goal is to broaden the appeal and market opportunities for macular carotenoid supplementation. Product Family Attributes and Business Impact Match to Needs Aging (a growing population worldwide) and changing lifestyles characterized by hectic schedules, prolonged exposure to high-energy blue light from computers/screens, and exposure to toxic materials adversely impact human eyesight. Incidence of cataracts, glaucoma, macular degeneration, and many other eye diseases have become prominent across regions. In response, ophthalmologists have started prescribing eye health supplements as a precautionary measure to maintain eye health. Moreover, consumers have become more self-reliant and aware of the health benefits of eye health supplements, which helps to propel adoption. With rising eye health concerns in the United States over the past few years, OmniActive Health Technologies perfectly timed its market introduction of Lutemax® 2020. This
  4. 4. BEST PRACTICES RESEARCH © Frost & Sullivan 2017 4 “We Accelerate Growth” product contains all 3 macular carotenoids (lutein, RR-zeaxanthin, and RS (meso)- zeaxanthin) at a standardized ratio. The combination of these ingredients is quite essential to support visual function and overall health, and OmniActive has a significant clinical program in place starting with nutrigenomics research, including in vitro and in vivo models, through human clinicals. Five human clinical trials have been completed between 2015-2016 that, when taken together, substantiate OmniActive’s leadership position of supporting consumer and market demand for science-backed ingredients with substantiated claims. OmniActive’s first initiative in human research was to demonstrate bioavailability and increase in macular pigment optical density (MPOD) across multiple dosages in a short time frame. OmniActive partnered with University of Georgia to conduct their clinical trials. The studies (randomized, double-blind, placebo-controlled) focused on testing healthy subjects supplemented with different doses of macular carotenoids found in Lutemax® 2020. All studies showed a statistically significant increase in serum lutein and zeaxanthin in as little as two weeks and proven bioavailability based on AUC. Furthermore, all doses tested showed a sustained and significant increase in the concentration of macular carotenoids in the eye in as little as 8-weeks. Increased deposition of macular carotenoids is measured by its concentration, or thickness, in the eye – a term referred to as macular pigment optical density (MPOD). Subsequent studies conducted by the company have demonstrated that considerable improvement in MPOD is linked with significant improvements in visual function. As an example, OmniActive’s B.L.U.E. study (Blue Light User Exposure) is the first to show a direct link between macular carotenoids and their ability to protect and support visual performance in subjects under prolong exposure to high-energy blue light from digital screens. With digital technology engulfing every aspect of daily life, it is unimaginable to function without electronic devices. Constant use of mobile phones, tablets, and computers can disrupt sleep quality and impact eye health because of high-energy blue light emitted from these devices. OmniActive Health Technologies proactively analyzes these patterns and properly understands customer requirements to deliver a market-leading product that perfectly caters to users’ health needs. Lutemax® 2020 is manufactured under a fully vertically integrated system with its growing and manufacturing spread across several regions to ensure a reliable and traceable supply chain. As there are very few ingredient manufacturers offering this combination of vertical integration, traceability, formula development, market expansion and clinical research in the market, OmniActive Health Technologies holds a distinct position in the eye health market. Reliability and Quality OmniActive Health Technologies’ success is anchored by its strong research and development (R&D), vertically integrated manufacturing model, and quality control systems—cGMP and HACCP system- in all of its FDA CFR110 cGMP audited facilities. The company’s market leadership position hinges on its consistent focus on maintaining high quality products and demonstrating efficacy and safety through extensive clinical trials and by partnering with universities. Development of OmniActive’s PlantActive Verification
  5. 5. BEST PRACTICES RESEARCH © Frost & Sullivan 2017 5 “We Accelerate Growth” program employs DNA barcoding and HPTLC analysis to ensure authenticity and consistency that comply with proposed NDI regulations. Internal quality tests by the company and associated studies in collaboration with the university ensure superior product quality and verify that this is a trustworthy solution for the eye health market. OmniActive Health Technologies proactively analyzes these patterns and properly understands customer requirements to deliver a market-leading product that perfectly caters to users’ health needs. Design To provide eyes with superior nutrient availability, OmniActive Health Technologies’ unique Lutemax® 2020 formulation delivers lutein and higher concentrations of zeaxanthin isomers - all from a single source. Frost & Sullivan points out that this is a key differentiator among other competitors in the market. The product is derived from marigolds and contains lutein, RR-zeaxanthin, and RS (Meso)-zeaxanthin at a standardized ratio. The high bioavailability and efficacy of the product has already been proven through several clinical trials. Providing a clear path to eye health through this unique formulation has been a key distinguishing factor for the company in the industry and also secures OmniActive as a reliable provider of eye health products. OmniActive is also engaged in exploring additional benefits of lutein and zeaxanthin isomers. The Beautiful Skin Forever study demonstrated a unique combination of benefits from Lutemax® 2020 - enhancing skin tonality and skin-lightening effects. Lutemax® 2020 also shows potential as a neuroprotective agent: decreasing levels of cortisol – also known as the stress hormone - by as much as 50% and increasing levels of brain derived neurotropic factor (BDNF). Stress is a biological and psychological response that triggers the release of cortisol. Under long-term stress, cortisol levels can remain elevated and adversely affect health including elevating blood sugar and compromising immunity. Interest in BDNF is growing as it is thought to play a role as a neuroprotective agent and play a role in cognition and learning. Operational Efficiency A vertically integrated manufacturing model and sustainability is at the heart of OmniActive’s operational efficiency. It starts with a close partnership with their farmers across multiple growing regions and continues through the harvesting and manufacturing into finished products. Starting with non-GMO seeds and working with a direct network of over 10,000 marigold farmers, OmniActive provides a high level of transparency and traceability that they claim has added clear value to its customers. Frost & Sullivan expects the dynamic supply chain to drive growth going forward. The company’s dedicated sales teams are strategically spread across regions for customer reach. In addition to the sales teams’ interaction with customers for product feedback, the company also has an internal market research team that not only collaborates with the sales teams for real-time feedback, but also conducts analysis and monitors market dynamics to provide significant insights to support its customers. This proactive approach has enabled the company to satisfy customer needs with existing products and add true value with newer products that provide additional features and better efficacy. Robust sales and market analysis teams have aided the company with strategic decision making that supports its sustained market presence. Overall, Frost & Sullivan observes how an exceptional understanding of the market through continuous analysis and dedicated
  6. 6. BEST PRACTICES RESEARCH © Frost & Sullivan 2017 6 “We Accelerate Growth” service to customers has gained the company major acceptance in the eye health ingredient market. Growth Potential & Customer Acquisition Consistent intake of lutein and zeaxanthin to maintain health over a lifetime is essential. Given that most consumers’ dietary intake of these important carotenoids is inadequate, supplementation is an easy solution to maximize their benefits. OmniActive Health Technologies has taken initiatives to educate consumers about the health benefits of macular carotenoids and how they support healthy vision across all age groups. The company has created consistent, broad visibility through it’s “What’s Your B.L.U.E.?™” (Blue Light User Exposer) and “Lutein For Every Age™” campaigns over the past 4 years. These campaigns have brought awareness of the importance of macular carotenoids for eye, skin and brain health and secured OmniActive Health Technologies’ a strong foothold in the North American market. The company is renowned for its sustainable manufacturing and range of quality ingredients that are both innovative and scientifically validated to address the clear challenges that today’s customers face in the dietary supplements and food/beverage space. Over the years, the company has significantly leveraged its R&D strengths to provide ingredients using cutting-edge technologies and sustainable practices, thereby delivering nutritionally active products. OmniActive Health Technologies, through its stellar manufacturing, sustainable practices and effective campaigning, has evolved as a leader in the eye health ingredient market that is attracting customers looking to develop effective, differentiated formulas. Conclusion Frost & Sullivan analysis concludes that OmniActive Health Technologies’ proprietary product, Lutemax® 2020, addresses industry challenges by offering eye and health (skin and brain) benefits from a single dietary supplement source. In addition, the company has created strong visibility in the market through campaigns depicting the health benefits of macular carotenoids - its product’s key ingredient. Through consistent investments in R&D, this pioneering company broadens its scientific substantiation on eye-health ingredients and focuses on new studies that support bioavailability and visual function, and, more importantly, emphasize the benefits of its supplements against the detrimental effects of staring into digital screens. With its strong overall performance, OmniActive Health Technologies has earned the 2017 Frost & Sullivan Product Leadership Award.
  7. 7. BEST PRACTICES RESEARCH © Frost & Sullivan 2017 7 “We Accelerate Growth” Significance of Product Leadership Ultimately, growth in any organization depends upon customers purchasing from a company and then making the decision to return time and again. A comprehensive product line, filled with high-quality, value-driven options, is the key to building an engaged customer base. To achieve and maintain product excellence, an organization must strive to be best-in-class in three key areas: understanding demand, nurturing the brand, and differentiating from the competition. Understanding Product Leadership Demand forecasting, branding, and differentiating all play a critical role in finding growth opportunities for a superior product line. This three-fold focus, however, must be complemented by an equally rigorous focus on pursuing those opportunities to a best-in- class standard. Customer communications, customer feedback, pricing, and competitor actions must all be managed and monitored for ongoing success. If an organization can successfully parlay product excellence into positive business impact, increased market share will inevitably follow over time.
  8. 8. BEST PRACTICES RESEARCH © Frost & Sullivan 2017 8 “We Accelerate Growth” Key Benchmarking Criteria For the Product Leadership Award, Frost & Sullivan analysts independently evaluated two key factors—Product Family Attributes and Business Impact—according to the criteria identified below. Product Family Attributes Criterion 1: Match to Needs Criterion 2: Reliability and Quality Criterion 3: Product/Service Value Criterion 4: Positioning Criterion 5: Design Business Impact Criterion 1: Financial Performance Criterion 2: Customer Acquisition Criterion 3: Operational Efficiency Criterion 4: Growth Potential Criterion 5: Human Capital Best Practices Award Analysis for OmniActive Health Technologies Decision Support Scorecard To support its evaluation of best practices across multiple business performance categories, Frost & Sullivan employs a customized Decision Support Scorecard. This tool allows our research and consulting teams to objectively analyze performance, according to the key benchmarking criteria listed in the previous section, and to assign ratings on that basis. The tool follows a 10-point scale that allows for nuances in performance evaluation. Ratings guidelines are illustrated below. RATINGS GUIDELINES The Decision Support Scorecard is organized by Product Family Attributes and Business Impact (i.e., These are the overarching categories for all 10 benchmarking criteria; the definitions for each criterion are provided beneath the scorecard.). The research team confirms the veracity of this weighted scorecard through sensitivity analysis, which confirms that small changes to the ratings for a specific criterion do not lead to a significant change in the overall relative rankings of the companies.
  9. 9. BEST PRACTICES RESEARCH © Frost & Sullivan 2017 9 “We Accelerate Growth” The results of this analysis are shown below. To remain unbiased and to protect the interests of all organizations reviewed, we have chosen to refer to the other key participants as Competitor 2 and Competitor 3. Measurement of 1–10 (1 = poor; 10 = excellent) Product Leadership Product Family Attributes Business Impact Average Rating OmniActive Health Technologies 9.3 9.2 9.2 Competitor 2 8.5 8.7 8.6 Competitor 3 8.0 8.2 8.1 Product Family Attributes Criterion 1: Match to Needs Requirement: Customer needs directly influence and inspire the design and positioning of the product family. Criterion 2: Reliability and Quality Requirement: Products consistently meet or exceed customer expectations for performance and length of service. Criterion 3: Product/Service Value Requirement: Products or services offer the best value for the price, compared to similar offerings in the market. Criterion 4: Positioning Requirement: Products or services address unique, unmet need that competitors cannot easily replicate or replace. Criterion 5: Design Requirement: The product features an innovative design, enhancing both visual appeal and ease of use. Business Impact Criterion 1: Financial Performance Requirement: Overall financial performance is strong in terms of revenues, revenue growth, operating margin, and other key financial metrics. Criterion 2: Customer Acquisition Requirement: Product strength enables acquisition of new customers, even as it enhances retention of current customers. Criterion 3: Operational Efficiency Requirement: Staff is able to perform assigned tasks productively, quickly, and to a high quality standard.
  10. 10. BEST PRACTICES RESEARCH © Frost & Sullivan 2017 10 “We Accelerate Growth” Criterion 4: Growth Potential Requirements: Product quality strengthens brand, reinforces customer loyalty, and enhances growth potential. Criterion 5: Human Capital Requirement: Company culture is characterized by a strong commitment to product quality and customer impact, which in turn enhances employee morale and retention. Decision Support Matrix Once all companies have been evaluated according to the Decision Support Scorecard, analysts then position the candidates on the matrix shown below, enabling them to visualize which companies are truly breakthrough and which ones are not yet operating at best-in-class levels. High Low Low High BusinessImpact Product Family Attributes OmniActive Health Technologies Competitor 2 Competitor 3
  11. 11. BEST PRACTICES RESEARCH © Frost & Sullivan 2017 11 “We Accelerate Growth” Best Practices Recognition: 10 Steps to Researching, Identifying, and Recognizing Best Practices Frost & Sullivan analysts follow a 10-step process to evaluate Award candidates and assess their fit with select best practice criteria. The reputation and integrity of the Awards are based on close adherence to this process. STEP OBJECTIVE KEY ACTIVITIES OUTPUT 1 Monitor, target, and screen Identify Award recipient candidates from around the globe • Conduct in-depth industry research • Identify emerging sectors • Scan multiple geographies Pipeline of candidates who potentially meet all best- practice criteria 2 Perform 360-degree research Perform comprehensive, 360-degree research on all candidates in the pipeline • Interview thought leaders and industry practitioners • Assess candidates’ fit with best-practice criteria • Rank all candidates Matrix positioning of all candidates’ performance relative to one another 3 Invite thought leadership in best practices Perform in-depth examination of all candidates • Confirm best-practice criteria • Examine eligibility of all candidates • Identify any information gaps Detailed profiles of all ranked candidates 4 Initiate research director review Conduct an unbiased evaluation of all candidate profiles • Brainstorm ranking options • Invite multiple perspectives on candidates’ performance • Update candidate profiles Final prioritization of all eligible candidates and companion best-practice positioning paper 5 Assemble panel of industry experts Present findings to an expert panel of industry thought leaders • Share findings • Strengthen cases for candidate eligibility • Prioritize candidates Refined list of prioritized Award candidates 6 Conduct global industry review Build consensus on Award candidates’ eligibility • Hold global team meeting to review all candidates • Pressure-test fit with criteria • Confirm inclusion of all eligible candidates Final list of eligible Award candidates, representing success stories worldwide 7 Perform quality check Develop official Award consideration materials • Perform final performance benchmarking activities • Write nominations • Perform quality review High-quality, accurate, and creative presentation of nominees’ successes 8 Reconnect with panel of industry experts Finalize the selection of the best-practice Award recipient • Review analysis with panel • Build consensus • Select recipient Decision on which company performs best against all best-practice criteria 9 Communicate recognition Inform Award recipient of Award recognition • Present Award to the CEO • Inspire the organization for continued success • Celebrate the recipient’s performance Announcement of Award and plan for how recipient can use the Award to enhance the brand 10 Take strategic action Upon licensing, company is able to share Award news with stakeholders and customers • Coordinate media outreach • Design a marketing plan • Assess Award’s role in future strategic planning Widespread awareness of recipient’s Award status among investors, media personnel, and employees
  12. 12. BEST PRACTICES RESEARCH © Frost & Sullivan 2017 12 “We Accelerate Growth” The Intersection between 360-Degree Research and Best Practices Awards Research Methodology Frost & Sullivan’s 360-degree research methodology represents the analytical rigor of our research process. It offers a 360-degree-view of industry challenges, trends, and issues by integrating all 7 of Frost & Sullivan's research methodologies. Too often companies make important growth decisions based on a narrow understanding of their environment, leading to errors of both omission and commission. Successful growth strategies are founded on a thorough understanding of market, technical, economic, financial, customer, best practices, and demographic analyses. The integration of these research disciplines into the 360- degree research methodology provides an evaluation platform for benchmarking industry participants and for identifying those performing at best-in-class levels. About Frost & Sullivan Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages more than 50 years of experience in partnering with Global 1000 companies, emerging businesses, and the investment community from 45 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com. 360-DEGREE RESEARCH: SEEING ORDER IN THE CHAOS

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