10.02.13
The three-dimensional printing market for medical technology is set to grow significantly within the next 10 years. According to a new research report from Albany, N.Y.-based Transparency Market Research, the global market for 3-D printing in medical application was valued $354.5 million in 2012 and is expected to grow at a compound annual growth rate (CAGR) of 15.4 percent from 2013 to 2019 to reach $965.5 million by 2019.
Traditional manufacturing techniques are based on the subtractive method where the required product is created by cutting or drilling of the base material. In 3D- printing, the desired products are created layer-by-layer through addition of materials. Hence, this process is also called as additive manufacturing. Although, 3-D printing is actually a subset of additive manufacturing, it often is used synonymously with additive manufacturing in the industry. Devices created by 3-D printing are created from raw materials such as metal, polymer, ceramic and biological cells. These raw materials are used with 3-D technologies such as laser beam melting, electron beam melting, droplet deposition manufacturing and photopolymerization.
Three-dimensional printing has the potential to revolutionize the healthcare segment by providing surgical guides, medical implants, surgical instruments and bioengineered products—in areas such as dental, orthopedic and craniomaxillofacial. This market’s growth, according to the report’s authors, is attributed to an increase in demand of quick and cheap solutions for medical problems. In addition, the market also will see expansion due to an increase in investment in R&D for 3-D printing technology. The report added, however, that growth could be slowed due to lack of trained professionals and raw materials.
Geographically, although the North American region constituted the largest market for 3-D printing in medical applications in 2012, Europe is expected to witness the highest growth rate of more than 15 percent from 2013 to 2019. This growth mainly is due to the increase in government funding in this market along with various small and big mergers and acquisitions of companies for technological advancement coupled with enhancement in application areas, according to the report. Favorable reimbursement policies in the region also give growth in Europe an edge.
The 3-D printing in medical applications market is predominantly an oligopolistic one, report authors noted, and is ruled by technology providers such as EnvisionTEC GmbH, 3D System, Stratasys Inc., and Materialise NV.
Since its introduction over a decade ago, 3-D printing has revolutionized manufacturing as a process. Ever increasing cost pressures on medical device manufacturers and their intense need to introduce innovative products has forced them to adopt 3-D printing as a means to reduce the manufacturing life cycle and almost completely eliminate the traditional prototyping process.
For more information, visit www.transparencymarketresearch.com/3d-Printing-medical-applications.html
Traditional manufacturing techniques are based on the subtractive method where the required product is created by cutting or drilling of the base material. In 3D- printing, the desired products are created layer-by-layer through addition of materials. Hence, this process is also called as additive manufacturing. Although, 3-D printing is actually a subset of additive manufacturing, it often is used synonymously with additive manufacturing in the industry. Devices created by 3-D printing are created from raw materials such as metal, polymer, ceramic and biological cells. These raw materials are used with 3-D technologies such as laser beam melting, electron beam melting, droplet deposition manufacturing and photopolymerization.
Three-dimensional printing has the potential to revolutionize the healthcare segment by providing surgical guides, medical implants, surgical instruments and bioengineered products—in areas such as dental, orthopedic and craniomaxillofacial. This market’s growth, according to the report’s authors, is attributed to an increase in demand of quick and cheap solutions for medical problems. In addition, the market also will see expansion due to an increase in investment in R&D for 3-D printing technology. The report added, however, that growth could be slowed due to lack of trained professionals and raw materials.
Geographically, although the North American region constituted the largest market for 3-D printing in medical applications in 2012, Europe is expected to witness the highest growth rate of more than 15 percent from 2013 to 2019. This growth mainly is due to the increase in government funding in this market along with various small and big mergers and acquisitions of companies for technological advancement coupled with enhancement in application areas, according to the report. Favorable reimbursement policies in the region also give growth in Europe an edge.
The 3-D printing in medical applications market is predominantly an oligopolistic one, report authors noted, and is ruled by technology providers such as EnvisionTEC GmbH, 3D System, Stratasys Inc., and Materialise NV.
Since its introduction over a decade ago, 3-D printing has revolutionized manufacturing as a process. Ever increasing cost pressures on medical device manufacturers and their intense need to introduce innovative products has forced them to adopt 3-D printing as a means to reduce the manufacturing life cycle and almost completely eliminate the traditional prototyping process.
For more information, visit www.transparencymarketresearch.com/3d-Printing-medical-applications.html