The global dental implant market is growing rapidly and expects to reach USD 9 billion by 2024. While new technology and innovation drive market growth, dental implant companies are challenged by the significant amount of time, cost, and resources required to bring a new product to the market. In this blog post, I share my insights on how to safely and successfully reduce time to market and avoid costs.
Time frame for bringing a dental product to the market
Bringing a dental product to market is a multifaceted and complicated process. Today’s implants, with their complex geometries, require optimized design for manufacturing, advanced surface treatments, and high cleanliness, as well as validated production processes and advanced verification.
On average, product design and development alone take a couple of years, and additionally at least six months for regulatory approval. However, both the costs and go to market timeframe often surpass the initial goal set by the implant companies.
How to reduce time to market for dental products
There are ways to safely and successfully accelerate your product’s time to market and the associated costs. However, none of them involve taking shortcuts.
Risk management should always be the starting point
A rapid time to market strategy is all about eliminating the roadblocks, setbacks, and mistakes upfront. This is why risk management should always be the starting point of your project. It allows you to proactively understand and manage the risks that can slow down time to market and lead to unforeseen costs. By implementing a strategic plan from the start, you can eliminate a lot of stress and uncertainty from your project.
A strong regulatory and compliance strategy gives you a head start
Developing and manufacturing dental products that impact human health comes with great responsibility and is a highly regulated business. Companies that implement a strong regulatory and compliance strategy early on in the development phase will notice considerable gains once it is time for regulatory approval.
A good regulatory strategy helps you understand what is required of you based on the risk assessment and provide the documentation needed to prove your dental product is safe and efficient. A well-planned and performed validation process ensures your manufacturing process is well controlled and consistently produces conforming products. Ensuring all activities during your development and manufacturing process are carried out in compliance with the regulatory requirements is a crucial step in reducing your time to market.
Knowing when you need help, can make all the difference
Not all dental implant companies have the necessary expertise in-house to navigate all aspects of developing, manufacturing, and bringing a new product to market on time. Even larger companies with extensive resources can sometimes lack specific knowledge in new areas. Knowing when you need help can make all the difference between successfully launching your product to the market or falling behind and letting competitors outmatch you.
Elos Medtech develops and manufactures our own branded dental components in the Elos Accurate® family, so we have the knowledge and experience you need to accelerate your time to market - we walk the talk. This is also part of why some of the largest dental implant companies worldwide choose to outsource design, development, and manufacturing activities to us.
Quality is a top priority
As a trusted development and production partner, we always strive for the highest quality. We do not make shortcuts. Our skilled and experienced professionals ensure compliance with the extensive regulatory requirements that define the operation, measurement, and documentation. By keeping a close dialogue with engineers throughout the project, we ensure the right choice of compliant processes, technologies, and continuous optimization.
Our focus is always on aligning both parties’ expectations regarding deliverables, time, and price. The reward? Quality assurance, cost savings, and on-time delivery.
Would you like to know more about Elos Medtech’s dental offering? Please, contact us.