FDA Approvals Coupled with Increasing R&D Investments by New Entrants Driving the Global 3D Printing in Healthcare Market to Reach $1.2 Billion by 2020.
“3D Printing in Healthcare Market (2014 - 2020) - 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.
Browse 38 Market Tables, 13 Figures spread through 245 Pages and an in-depth TOC on “
3D Printing in Healthcare Market – Global Forecast to 2020”.
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 3DP materials in healthcare market in 2015 was $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.
FDA Grants To Boost 3D Printing Market in Healthcare
The 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.
The various applications studied in the report include:
- Implants And Prosthetics
- Surgical Guides
- Hearing Aids
- Tissue Engineering
- Dental Implants
- Medical Components
- Drug Screening
The key players in 3D Printing in Healthcare market Include:
- Digilab Inc
- MicroFab Technologies Inc
- nScrypt Inc
- TeVido BioDevices
Companies such as Alphaform AG, Organovo Holdings Inc., Beltone A/S, Stryker Corporation, 3D SYSTEMS, Stratasys Ltd, ARCAM AB, EOS GmbH and Materialise N.V. are also playing a key role in the wider 3D printing market, which includes healthcare segment.
Recently, Organovo purchased 3D bio-printers from Invetech to develop human living tissues and at the same time Rainbow Biosciences signed contracts with n3D Biosciences Inc. to develop and market their BiO Assays. Likewise, there are other companies who are working together to develop new products to bring revolution in the healthcare implants and devices manufacturing industry. With the growing technological advancements and support from government the companies investing huge amounts even though they see loss in their annual turnover, as there is huge scope for this market. The material and printer suppliers are cooperating and joining forces with research scientists and investing high amounts to develop new solutions as there is exponential growth opportunity to gain profits in the coming future. With the growing adaption of 3D printing especially in dental, medical and prosthetics industry, the laboratory scientists are showing much interest in developing tools and solutions to meet the demand.
The overall market is also presented from the perspective of different geographic regions and the key countries. Competitive landscape for each of the product types is highlighted and market players are profiled.
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