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3D Printing for Medical Sector Market Expansion to be Persistent During 2018 – 2026

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3D printing is a rapidly emerging cost-effective technology with significant potential to transform healthcare delivery and clinical activities. This technology can be used in a range of devices such as prostheses, hearing aids, custom-made knee and
3D Printing for Medical Sector Market Expansion to
be Persistent During 2018 – 2026
Global 3D Printing for Medical Sector Market, By Technology (Electron Beam
Melting, Laser Beam Melting, Droplet Deposition, and Photopolymerization), By
Application (Tissue Engineering, Surgical Implants, Healthcare Wearable
Devices), By End User (Pharmaceutical and Biotechnology Companies, Medical
Devices Companies, Academic and Research Institutions), and By Geography Trends and Forecast till 2024
3D printing is a rapidly emerging cost-effective technology with significant potential to transform
healthcare delivery and clinical activities. This technology can be used in a range of devices such as
prostheses, hearing aids, custom-made knee and hip implants, dental implants, and surgical
instruments. The Global 3D Printing for Medical Sector Market was valued at US$ 412.2 million in
2015 and is expected to expand at a CAGR of 11.7% during the forecast period (2016 – 2024).
3D printing is revolutionizing the healthcare industry by providing improved therapy outcomes and
affordable medical devices. This technology is enabling manufacturers to produce small and delicate
parts of an organ or medical device with a high accuracy, which is a very cumbersome task using
current manufacturing capabilities. Companies such as EnvisionTEC, Inc., 3D Systems, Inc., Stratasys
Inc., Materialise NV, and Organovo Holdings, Inc. are collaborating with each other or independent
research organizations and institutes to speed-up the research activities in order to decrease the time to
market (TTM).
Market Dynamics
3D printing offers various benefits such as pre-operative planning of medical procedures based on the
3D model, creating anatomical models for training, creating medical products at lower costs, and
possibility of manufacturing medical devices of smaller form factors with higher precision. Increasing
awareness about cost benefits offered by this technology has increased its usage in hospitals, dentists,
pharmaceutical companies, academic institutions, and medical clinics is propelling the market growth
for 3D printing. Furthermore, growing demand for organ transplantation and funding from government
and private Institution are analyzed be the major factors propelling growth of 3D printing application in
the medical sector.
Reasonable price of 3D printed medical products leading to increasing popularity
Regional governments of various countries are focusing on burden of expensive medicines on patients
through effective price control measures. However, reducing profit margins negatively impact
investments in research and development (R&D) phase. 3D printed medical products can effectively
address the concerns of governments and the industry. Spritam (Levetiracetam) from Aprecia
Pharmaceuticals, is the first 3D printed tablet that received U.S. FDA approval in March 2016. Low
cost of production would in turn reduce cost of product and make it more affordable to patients.
Researchers are the University of Toronto, Autodesk Research, and CBM Canada used 3D printing to
produce low cost customizable prosthetic sockets for patients especially in low-income countries
especially Uganda. This would further boost investment in 3D printing by healthcare providers to
reduce product cost and increase profit margins.
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Competitive Analysis
Key companies covered as a part of this study include 3T RPD, Ltd., EnvisionTEC, Inc., Arcam AB,
3D Systems, Inc., Eos GmbH Electro Optical Systems, Renishaw plc, Stratasys Inc., Materialise NV,
and Organovo Holdings, Inc.
Favorable government policies and government funding to boost the 3D printing market for
medical applications
The U.S. government is encouraging innovation in healthcare through funding and establishing
manufacturing hubs. For instance, in 2014, the National Institutes of Health established a 3D Print
Exchange organization to promote open-source sharing of biomedical 3D print files and tutorials.
While the U.S. FDA currently approves only dental, orthopedics, cranio-maxillary and tissue
engineering for 3D printing, clearance of the 3D printing in other segments would boost the 3D
printing market growth significantly.
Detailed Segmentation:
•Global 3D Printing for Medical Sector Market, By Technology:
•Electron Beam Melting
•Laser Beam Melting
•Droplet Deposition
•Photopolymerization
•Global 3D Printing for Medical Sector Market, By Application:
•Tissue Engineering
•Surgical Implants
•Healthcare Wearable Devices
•Others (Drug testing, Anatomical models)
•Global 3D Printing for Medical Sector Market, By End User:
•Pharmaceutical and Biotechnology Companies
•Medical Devices Companies
•Academic and Research Institutions
A plethora of medical applications
3D printing technology is primarily used to create artificial skin, kidney, liver, pancreas, pills, and
orthopedic and dental implants. The current manufacturing capabilities are not adequate to produce
artificial organs with precise shape and size of miniature organ parts. Biological models made from 3D
printing technology can help in surgical training, planning, and offering personalized medicines, thus
enhancing quality of life of the user. While the use of 3D printing is widely implemented in dental
applications, other medical segments such as tissues, prosthetics, medicines and heart valves, medical
equipment and synthetic skin are also expected to deploy 3D printing technology to a greater extent in
the near future.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready
syndicated research reports, custom market analysis, consulting services, and competitive analysis
through various recommendations related to emerging market trends, technologies, and potential
absolute dollar opportunity.
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Coherent Market Insights
1001 4th Ave, #3200
Seattle, WA 98154
Tel: +1–206–701–6702
Email: [email protected]
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