The cost of the part has a lot of other factors built in besides raw metal and machining time:
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Carrying cost (bone plates like this are relatively low volume and most hospitals keep at least one set of them on the shelf)
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certifications. (The material has to meet tons of stringent requirements to be implantable grade, fda clearances, ongoing material testing, fatigue testing, etc.)
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preparation ( medical supplies touch a lot of hands and go through a ton of processes before they ever get implanted. Testing, validation, hand assembly, hand inventory, Transport, sterilization, monthly / bi monthly inventory, resterilization, etc)
And lots more stuff, but those are the big 3 off the top of my head right now.
Implantable technologies are most akin to aerospace in engineering, low volume high cost.
Fun engineering thing about your particular plate and screws: when properly placed, those are designed to place the bone around them, especially across the fracture joint, in compression so that the bone resonates at a specific frequency which induces bone growth.