L&T Tech Services (LTTS) provides solutions across segments, such as biologics, dental, prosthetics, neurology, trauma, among others. Our services include new product development backed by geo-localization support and digital product lifecycle management (PLM) services.
STATE OF THE MARKET
The world implants market is projected to reach $116 billion by 2022.1 The key drivers underpinning this growth are the rising incidence of chronic diseases, technological advancements, and an increasing geriatric population across the world. In tandem, medical practices are also shifting away from doctor-centric to patient-centric care. Medical practitioners are exploring new-age technologies which can enable them to accurately diagnose diseases, reduce patient recovery time, and diminish readmission rates. As a result, medical manufacturers are shifting gears towards streamlining their product development process and integrating technologies such as robotics, image guidance, Internet of Things (IoT) in the mix. However, increasingly stringent regulations and compliance standards are impeding time-to-market, especially in emerging economies. In addition, reducing costs and customizing products in line with geo-specific requirements, further complicating the testing and validation process.
L&T Tech Services (LTTS) provides solutions across segments, such as biologics, dental, prosthetics, neurology, trauma, among others. Our services include new product development backed by geo-localization support and digital product lifecycle management (PLM) services. With our value engineering services, clients can explore and identify cost opportunities in emerging markets, and ensure their products are compliant to varying regulatory standards. Focused on patient-data security, our services assure seamless IoT integration and device connectivity, engineering analytics, and Mobility and Augmented Reality Services (MARS) for developing and implementing a comprehensive connected care framework. In addition, we deliver computer-aided engineering (CAE) services through computer-aided design (CAD), finite element analysis (FEA), and thermal technologies for implant and instrument customization. We also provide unique device identification (UDI) implementation support, post market surveillance, and complaint management services for enhancing product sustainability.
KEY SEGMENTS & SERVICE OFFERINGS
- Boost patient-specific data management by using medical IoT devices with robust security measures and cross-device connectivity
- Ensure excellence in usability by leveraging product intelligence through CAD-based manufacturing services
- Effectively identify product cost optimization opportunities for emerging markets with our VA/VE services
- Developed an automated blood cell counter that requires 2% less blood than standard market products. Provided a highly scalable and modular design to address varying lab requirements. Ensured 99% precision when conducting tests. Reduced overall costs by 25%
- Provided documentation support for designing patient specific knee implants. Automated the image-to-implant process using proprietary algorithm software. Ensured service processes are aligned to changing market conditions
- Supported new product development (NPD) team with quality engineering expertise. Created, updated and reviewed DHF documents. Initiated an offshore support model leading to approximately 25% cost saving per engineer