A report published by Transparency Market Research in 2013, expected a compound yearly growth rate of 15.4 percent between 2013 and 2019. The 3D printing medical application market was valued at $354.5 million in 2012 and was expected to be valued at $965.5 million by 2019.
A new report published in 2018 by ProfShare market Resources estimated the 3D Printing Medical Devices Market to reach $2.77 billion by 2025; growing at a CAGR of 16.8% between 2017 and 2025
The report states: “Increasing demand in the health care industry for various technological developments has bolstered the growth of 3D printing in numerous clinical applications. 3D printing has provided the medical industry with plenty of solutions for large problems. It’s revolutionised the healthcare segment by supplying surgical manuals, medical implants, surgical tools and bioengineered products”
The study revealed that the anticipated expansion in 3D printing clinical programs is credited to an increase in need for affordable and easily-accessible options for medical issues. Furthermore, the market would be given a boost because of the growing research and development funding governments and companies are pumping into the sector to remain competitive.
3D printing is a form of additive manufacturing. In 3D printing process a three-dimensional object is produced by building consecutive deposited layers. Each layer is connected to one another before the object is totally completed. Objects are produced through a digital 3D file, such as a computer-aided design (CAD) drawing or a Magnetic Resonance Image (MRI).
No additional setup of equipment or tools is required as 3D printing permits programmers to make changes readily .The flexibility of 3D printing systems enables manufacturers to make devices paired to your patient’s anatomy (patient-specific apparatus) or even devices with very complex internal structures. These capabilities has generated tremendous interest in 3D printing of healthcare devices and other products, such as food, household items, and automotive components. Scientists are researching how to manufacture living organs such as a liver or heart working with 3D printing.
3D Printing Medical Devices are classified into two types: External Wearable Devices and Clinical Study Devices. Topical Wearable Devices are those 3-D printing apparatus which are ideally customized to match each patient. Within this procedure, 3-D printing is usually accompanied by 3-D scanning aids make the geometry. These devices may be connected to the exterior of a person. These apparatus are larger or thicker than those surgical implants or devices that have to reach into a body. This actually will help to conquer any mechanical power issues with 3-D printing. Clinical Study Devices are created for clinical trials where construct quantities are low and layout changes after evaluation are probably. Clinical Study Devices have multiple plastic components in which 3-D printing provides a cost effective method to make clinically usable components in reduced cost.
The report includes the findings of a poll of health AM3DP professionals to provide a insights into how additive manufacturing in the medical sector has been exploited, which procedures and materials are being used, what difficulties arise, and what is predicted to affect patients following. The development of new materials suitable for medical devices and reduced cost of for example desktop PEEK 3d printers means that 3D printed medical implants are becoming more cost effective to produce in-situ and individually.
The analysis finds 11% of business revenues derive from Medical/dental pieces, i.e. 3D printed implants, medical devices and other elements for health care.
Healthcare is set to expand as a major practical usage of 3D printing using 97% of AM professionals confident of a increase in clinical AM/3DP applications.