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).
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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.
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. Similarly, the Japanese government supports manufacture and sales of professional-grade printers for 3D printing (also used for medical applications). In June 2013, the Chinese government announced plans to set up ten 3D printing innovation centers across the country. In May 2016, SHINING 3D—a China-based 3D printing company—established its new headquarters in Zhejiang 3D industrial zone.
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.
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This report segments the global 3D printing for medical sector market on the basis of technology, application, and end user. On the basis of technology, the global 3D printing market is classified into electron beam melting, laser beam melting, droplet deposition and photopolymerization. Applications of 3D printing include tissue engineering, surgical implants, healthcare research and development (R&D), and others. 3D Printing technology is used for medical applications across pharmaceuticals and biotech companies, medical devices companies and academic and research institutions.
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