3D Printing Medical Devices Market forecast to grow at 20% CAGR from 2017 to 2024: Global Market Insights Inc. The 3D printing technology has been touted by industry gurus as one of the most revolutionary ones in the last few years, given its extensive proliferation in the manufacturing, automotive, construction, chemicals, food & beverage, and medical sectors. Once thought of as a sci-fi notion, 3d printing has now penetrated myriad sectors, Healthcare 3D Printing Market bearing no exception. Speculated as one of the most disruptive technologies of recent times, 3D printing, with its highly advanced technology, involves the build-up of solid 3D objects from a digital prototype, assembling consecutive material layers on top of one another, that eventually gives rise to the completed object. 3D printing first came to the fore in 1986, known by the name of ‘stereolithography’. The technology had not garnered popularity back then, however, it has become prevalent since the onset of the 21st century, marking the genesis of healthcare 3D printing medical devices industry commercialization. Today, 3D printers are being deployed heavily across the medical space, to create medical device prototypes, dental applications, medicine models, surgical prototypes, and more, thereby creating lucrative growth avenues for healthcare 3D printing market investors. The medical fraternity, in particular, has been the recipient of numerous innovations in 3D printing, subject to the widespread advantages that the technology offers.
For instance, a 3D-printed prototype can be specifically customized and used by surgeons to try out a specific procedure on patients, in a risk-free environment, it helps reduce surgery cost, enables medical simulation, helps determine the best tools for surgery, and to identify possible complications. The medical space, already reeling under immense pressure with regards to optimal performance and reduced costs, will stand to gain unprecedented benefits from this good-as-gold technology, as per experts. In the event that it witnesses the predicted propulsion, 3D printing medical devices market will observe a meteoric rise over the coming seven years. As per estimates, healthcare 3D printing industry has been projected to cross a valuation of USD 2 billion by 2024. This is indeed an appreciable growth prediction, considering that the market was valued at USD 450 million in 2016. The application of 3D printing in healthcare industry is thus, certain to depict an upward growth trend, as is evident from the robust 3D printing innovations being conducted across the medical and pharma sectors, such as 3D-printed skin for burns, 3D splints for babies, and 3D dental implants. It comes as no surprise therefore, that 3D printing medical devices market may record a CAGR of 20% over 2017-2024. 1|Page
U.S. Healthcare 3D Printing Market Share, By Technology 20132024 (USD Million)
Browse key industry insights spread across 150 pages with 94 market data tables & 15 figures & charts from this 2017 report Healthcare 3D Printing Market in detail along with the table of contents at: https://www.gminsights.com/industry-analysis/healthcare-3D-printing-market A comprehensive detailing of the ground-breaking innovations and organizational efforts that may revolutionize healthcare 3D printing industry: The application of 3D printing in healthcare market heavily leans toward prosthetics, customized implants, & bioprinting. In 2015, a team of doctors at the Bengalurubased Sakra World Hospital performed India’s supposedly first endoscopic surgery on a 5-month old girl with fused skull bones, with a 3D-printed helmet that exerts pressure on the required parts of the skull. The party behind this marvel had been Osteo3D, a phenomenal upstart in healthcare 3D printing industry, that had designed a personalized helmet for the surgery. Today, this tenderfoot in healthcare 3D printing market designs 3D-printed prototypes for surgeries, dental implants, maxillofacial surgeries, and neurosurgeries, and has contributed its models for more than 350 surgeries so far. Recognizing the need for high-grade 3D printing in healthcare industry, the National University of Singapore Centre for Additive Manufacturing plans to develop, enhance, and deploy 3D printing technology in the medical sector, with reference to which the institute has launched a new knowledge center worth USD 18 million. The highlighting factor in this agreement is that four major conglomerates – Osteopore International, Creatz3D, Forefront Additive Manufacturing, and Dou Yee Enterprises
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have signed MoUs with the center. This is indicative of the robust penetration of 3D printing in healthcare market across various geographies. Shrewdly leveraging on the profitability quotient of 3D printing in healthcare industry, Italy-based OXYDO has collaborated with Materialise NV and the Safilo Group to manufacture 3D printed eclectic eyewear brands. Marking the preface of a revolutionary trend in both, healthcare 3D printing industry and eyewear market, OXYDO proudly showcased its eyewear collection recently, depicting frames using less material. OXYDO’s eyewear range combines the classic frame styles with modern silhouettes by means of 3D printing, setting a precedent for other healthcare 3D printing market giants to follow. How the future looks like for healthcare 3D printing industry: Numerous other innovations prevalent across healthcare 3D orienting market include the creation of 3D-printed skin, 3D-printed ears, as recently developed in Scotland for Microtia-affected kids, and even 3D-printed hearts, liver, and other vital organs. While the scenario looks very promising, it does have its share of flaws, given that every patient has a distinguished genetic system. Several questions regarding the credibility and conformity of this technique have been raised by consumers and experts alike. The deployment of 3D printing in healthcare market, for most parts, is still in the experimental stages, while for many other sub-verticals, the technology has already been implemented, and has met with transcendent success. Some of the essential factors that may have a profound consequence on healthcare 3D printing market are the type of materials used for 3D printing, the cost of printers, and the convenience factor of the methodology used for implementing the software. Despite having depicted a commendable success rate in many vital application arenas, healthcare 3D printing market has not yet gone mainstream. However, analysts have forecast global 3D expenditure to surpass USD 28 billion by 2020, a major chunk of which will be procured by the medical sector. All in all, the potential for 3D printing continues to remain colossal, and expert consensus specifically gestures toward the notion that healthcare 3D printing market will bring about conspicuous revolution across the medical fraternity in the many years to come.
Table of Contents of 3D Printing for Healthcare Market: Chapter 1. Methodology 1.1. Methodology 1.1.1. Initial data exploration 1.1.2. Statistical modeling and forecast 3|Page
1.1.3. Industry insights and validation 1.1.4. Market definition and forecast parameters 1.2. Data Sources 1.2.1. Primary 1.2.2. Secondary Chapter 2. Executive Summary 2.1. Healthcare 3D printing industry 3600 synopsis, 2013 - 2024 2.1.1. Business trends 2.1.2. Product trends 2.1.3. Technology trends 2.1.4. Application trends 2.1.5. Regional trends Chapter 3. Healthcare 3D Printing Industry Insights 3.1. Industry segmentation 3.2. Industry landscape, 2013 – 2024 3.3. Industry impact forces 3.3.1. Growth drivers 3.3.1.1.
Technological advancement
3.3.1.2.
Increasing medical applications
3.3.1.3.
Increasing trend for customized implants
3.3.1.4.
Growing investment in research and development
3.3.2. Industry pitfalls & challenges
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3.3.2.1.
Lack of skilled professional
3.3.2.2.
High price associated with 3D printing software
3.4. Growth potential analysis 3.4.1. By Product 3.4.2. By Technology 3.4.3. By Application 3.5. Regulatory landscape 3.5.1. U.S. 3.5.2. EU 3.6. Technology landscape 3.6.1. U.S. 3.6.2. EU 3.7. Porter’s analysis 3.8. Competitive landscape, 2016 3.8.1. Company share analysis 3.8.2. Business overview 3.8.3. Product landscape 3.8.4. Strategy dashboard 3.9. PESTEL analysis About Global Market Insights: Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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