3D Printing in Healthcare Market to Reach $1.2B by 2020


Reading time ( words)

According to the report "3D Printing in Healthcare Market - By Material (Donor Cells, Plastics, Metals, Ceramics, Bone Cement); By Application (Implants, Tissue Engineering, Surgical Guides, Hearing Aids, Dental Implants, Medical Components) - Forecast (2015 to 2020)", published by IndustryARC, the 3D Printing in Healthcare Market is estimated to reach $1.2 Billion by 2020 at a high CAGR.

3D printing has begun to flourish in various application areas in healthcare such as dental, medical, implants, drug manufacturing and so on. The materials used for these purposes vary accordingly. While dental implants mostly use metals and ceramics to print dental crowns, the medical industry has its own array of bio-materials. The key driving factor for 3D printing in healthcare is the decrease in prices of printers and also approval of possible subsidies from governments as part of research grants.

The 3D printing materials in healthcare market in 2015 were $308 Million according to research conducted by IndustryARC, and is dominated by Americas with more than 60% market revenue share. The U.S. itself holds around 40% of the entire 3D printing in healthcare market share with existing major players like 3D Systems and Stratasys along with the new entrants and their investments to acquire the growing market. Asia-Pacific's (APAC's) market is relatively small as compared to Americas region; however it is growing at a higher rate compared to Americas. Emerging economies such as China, Japan and India play vital role in the forecast period.

The global 3D printing in healthcare market is estimated to grow at a CAGR of 18.3% to reach $1,210m by 2020.he 3D printing industry has become a mainstream technology rather than a niche technique of prototyping in healthcare in the past few years. The 3D Printing industry has always faced regulatory issues, in the context of healthcare based products. But for the first time, MedShape received the clearance from FDA for its 3D printed bone tether plate which repairs foot deformity. Recently Oxford Performance Materials also got clearance from the Food and Drug Association for its biomaterials being used in complex surgeries.

The clearance from FDA is done through 510(k) process, wherein a manufacturer must show that the printed device is not "considerably similar" to any another device that is legally marketed in the U.S. While there are questions popping up that whether this 510 (K) process is apt for judging the 3D printed devices, on the other hand, FDA is actively seeking support from various researchers and academicians to set new guidelines for judging the devices produced through 3D printing. Recently a public workshop was launched to provide a forum for all those directly related to additive manufacturing, so that they can discuss the technical challenges and solutions for 3D printing.

These upcoming clearances form FDA has boosted the confidence of many manufacturing companies and as a result, the industry today has so many new entrants that are investing in R&D. Major companies are adapting this technology to manufacture advanced devices especially that are automated.

Share

Print


Suggested Items

Today’s MilAero Options, Part 1: 'Pride Goeth Before...'

04/12/2016 | Marc Carter
Historians, with their 20/20 hindsight, often write about the inevitable decline and fall of kingdoms, empires, religions, organizations, governments, and all the other permanent structures we humans build.

Wearable Tech Back to a Healthy Development Pace

02/11/2015 | Reed Exhibitions
Wearable tech was a major sensation in 2014. The wearable tech industry generated extensive interest among media, investors, start-ups, wearable tech enthusiasts, technology leaders and trade fairs. Many events were held around wearable products and industry last year. The trend for early 2015 has seen the industry fall back into a healthy developmental pace. Investors are keen to see a return on their capital injections and former start-ups are now reaching maturity.



Copyright © 2019 I-Connect007. All rights reserved.