Report
Teaser, summary, work performed and final results
Periodic Reporting for period 1 - OP-PLATFORM (Disrupting Orthotics and Prosthetics Market with Open Digital Platform)
Teaser
Custom-made orthotic and prosthetic (O&P) market grows rapidly as the global population ages and suffers from civilisation diseases. In the next 10 years the O&P industry will be disrupted by digital economy (automatisation, 3D printing and 3D scanning). Due to rising costs of...
Summary
Custom-made orthotic and prosthetic (O&P) market grows rapidly as the global population ages and suffers from civilisation diseases. In the next 10 years the O&P industry will be disrupted by digital economy (automatisation, 3D printing and 3D scanning). Due to rising costs of O&P products and patients’ demand for improved comfort, function and aesthetics, every third O&P product will be 3D printed by 2027. However 3DP products need to be custom designed and that is costly, know-how & time demanding. With our proprietary technology and 25 years experience in the O&P market, Invent Medical set to become the Uber in orthotics and seize this market share with the Open Digital Platform by leveraging 3rd parties and automating & democratising the whole process in an ultra scalable and affordable way. We are offering benefits of digitalisation to medical facilities to improve people’s life worldwide as custom-made orthoses and prostheses are the only effective solution in a treatment of difficult injuries, deficiencies and civilisation diseases. The goal of this project is to bring a revolutionary digital platform to market to create access to the most-advanced yet affordable O&P devices for patients globally.
Work performed
In the project, the feasibility of the Open Digital Platform business model was successfully validated with partners and potential customers in EU and USA. A very thorough advanced market analysis was conducted to help the company better understand the market, customers’ needs. According the findings, the business plan was updated as well as sales forecast and go-to-market strategy. IP research on further freedom to operate and patentability was finished. Invent Medical secured licensing of key products. Pilot testing of the platform was conducted on two product lines (8sole and Talee) to verify viability of the platform and cooperation with 3rd parties providing sales & support, manufacturing and computing.
Final results
A revolutionary solution will be brought to market to improve lives of hundreds of thousands people suffering from pain, in-born deformities and diseases. The project will have a significant impact on the European and global market due to global availability of a new generation of 3DP O&P products. Invent Medical strives to become a global leader in the 3D printed custom-made orthotic and prosthetic devices. Our disruptive business model complies with the EU strategy in healthcare to promote good health and healthy ageing by developing innovative solutions.
Website & more info
More info: http://www.inventmedical.com.