• We have carried out a comprehensive market analysis focusing on Europe as our market entry region and concluded that around € 80 billion is spent on dental treatment in the European Union. Given that there are 512.7 million EU citizens (as of 2018), this is equivalent to about € 156 per capita, and this figure continues to rise.
• We have identified the following trends that will establish the perfect timing and environment for our development:
o The growing proportion of older people and increasing awareness of oral health are contributing to the growth of the dental equipment market.
o Osteoporosis is a disease of bone, which is common in middle-aged post-menopausal women. Bone weakness and loss (especially in jaw bone) makes implantation difficult or impossible.
o Modern digital technologies make it possible to impress and convince patients of the positive end result of a prosthetic restoration as early as the planning phase.
o Prices of 3D printers are falling, and they are now even affordable for small labs.
o The trend towards consolidation of the dental market is evident throughout Europe, both in the area of dental care and among manufacturers, laboratories and retailers.
o The additive manufacturing technologies (especially the 3D tools for complex and multi-step workflow like indepenDent) give a good opportunity for the European players to reduce their international exposure and realise further savings e.g. on logistics.
• We have reviewed and analysed the regulations related to the commercialisation of indepenDent and have identified the necessary steps required for piloting and market entry.
• We have finalised our product specification and determined the corresponding pricing strategy. This information was used to update our revenue projection and financial calculations.
• We have carried out a detailed technology watch focusing on dental materials and have identified our main competitors.
• We have validated our business model through discussions with existing and potential customers and stakeholders.
• We have determined our market entry strategy and identified our piloting partners that are needed for the performance validation.
• We have determined a scalable value chain model that we will use to support our global expansion.
• We have identified the most critical risks of the development project implementation and derived corresponding mitigation and corrective actions.
• We have reviewed and updated our IPR strategy.
• Based on the analysis we have concluded the following:
o Our market entry products will be the integrated multi-head 3D denture printer (CAPEX) + Material (OPEX).
o Our short term (1-4 years after market entry) targeted territory will be Europe.
o Our market entry and short-term costumer segments will be dental clinics and health centres, large dental practices and chains, and dental laboratories.
o Our market entry user characteristics is older (60+), partially or complete edentulism (tooth loss) with osteoporosis symptoms, higher health awareness, higher liquidity, and higher aesthetic demand.
