The presence of a seamless industry for medical diagnostic and treatment has created fresh opportunities within the global 3D printing medical devices market.
The presence of a seamless industry for medical diagnostic and treatment has created fresh opportunities within the global 3D printing medical devices market. Use of 3D printing within medicine has followed a progressive route, and several medical practitioners have endorsed this technology with palpable dexterity. The applications of ED printing within medicine span into areas of research, testing, modelling, and anatomy. The medical industry has reduced the cost of procuring new archetypes, devices, or testing modules by using 3D printing medical devices in labs and research centers. Henceforth, the total volume of revenues within the global 3D printing medical devices market is set to grow at a dramatic pace.
Transparency Market Research (TMR) finds that the global 3D printing medical devices market would grow at a sound CAGR of 17.7% over the period between 2017 and 2025. The total volume of revenues within the global 3D printing medical devices market was estimated at US$823.0 mn in 2016. Use of 3D printing in orthopaedics, dentistry, and anatomy has been at the helm of growth within the market. Furthermore, rising incidence of cranial disorders has also created increased demand within this market. Some of the key areas of application for 3D printing in medicine are tissue fabrication, external prosthesis, and dental restoration.
Need for Improved Anatomical Studies
Anatomical studies involve the use of models and customized archetypes to get a closer view of the human and animal body. Scientists and researchers prefer to use models that are cast out of 3D printing technologies and devices. This factor, coupled with the precision offered by 3D printing technology, has given a thrust to market growth. There is a growing inclination of the medical fraternity towards detailed research, testing, and analysis. As microscopic detailing becomes a key component of medical research, use of 3D printing medical devices shall increase.
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Optimizing Cost of Medical Research and Testing
Development of inhouse 3D printing technologies helps in optimizing costs within the medical industry. Medical researchers can use 3D printed plastic parts of equipment rather than ordering new devices. New devices take time to reach the end-users which often adds to the discrepancy that arises from equipment failure. Furthermore, the unprecedented need for improved testing and analysis necessitates the presence of 3D technologies that can be used to address unmet research needs. The overall cost of using inhouse 3D printing technologies is lower than the total cost of buying individual equipment parts. Henceforth, the maturity graph of the global 3D printing medical devices market is at an important juncture.
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The prominent vendors operating in the global ED printing medical devices market are 3D Systems Inc., SLM Solutions Group AG, Organovo Holdings, Cyfuse Biomedical K.K., and EOS GmbH Electro Optical Systems.
This review is based on TMR’s report titled, “3D Printing Medical Devices Market (Component - Printers, Materials, and Software and Services; Technology - Electron Beam Melting, Selective Laser Melting, Selective Laser Sintering, Photopolymerization, and Direct Metal Laser Sintering; Application - Orthopedic and Cranial Implant, Dental Restorations, Surgical Instruments, Tissue Fabrication, and External Prosthesis) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 – 2025”.
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