3D Printing for Medical Sector Market to Surpass US$ 1.1 Billion by 2024

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).

Market Dynamics

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.

Request Sample Copy Of This Report: https://www.coherentmarketinsights.com/insight/request-sample/80

Market Taxonomy

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.

Key features of the study:

This report provides in-depth analysis of 3D printing in medical sector and provides market size (US$ Million) and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2016 – 2024), considering 2015 as the base year

It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market

This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players

It profiles leading players in the global 3D printing for medical sector market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies and future plans

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.

Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launch, technology up-gradation, market expansion and marketing tactics

The global 3D printing for medical sector market report caters to various stakeholders in this industry including investors, suppliers, 3D printing device manufacturers, distributors, new entrants, and financial analysts

Stakeholders would have ease in decision making through the various strategy matrices used in analyzing the 3D printing for medical sector market

Request For Customization: https://www.coherentmarketinsights.com/insight/request-customization/80

Reasonable price of 3D printed medical products leading to increasing popularity

Regional governments of various countries are focusing on burden of expensive medicines on patients through effective price control measures. However, reducing profit margins negatively impact investments in research and development (R&D) phase. 3D printed medical products can effectively address the concerns of governments and the industry. Spritam (Levetiracetam) from Aprecia Pharmaceuticals, is the first 3D printed tablet that received U.S. FDA approval in March 2016. Low cost of production would in turn reduce cost of product and make it more affordable to patients. Researchers are the University of Toronto, Autodesk Research, and CBM Canada used 3D printing to produce low cost customizable prosthetic sockets for patients especially in low-income countries especially Uganda. This would further boost investment in 3D printing by healthcare providers to reduce product cost and increase profit margins.

Similarly, expensive stents, prosthetics, and implants can be made available at a much cheaper rate with improved therapeutic outcomes in the emerging economies such as India, China, Brazil, South Africa, and Russia, which would increase affordability and accessibility of medical products.

A plethora of medical applications

3D printing technology is primarily used to create artificial skin, kidney, liver, pancreas, pills, and orthopedic and dental implants. The current manufacturing capabilities are not adequate to produce artificial organs with precise shape and size of miniature organ parts. Biological models made from 3D printing technology can help in surgical training, planning, and offering personalized medicines, thus enhancing quality of life of the user. While the use of 3D printing is widely implemented in dental applications, other medical segments such as tissues, prosthetics, medicines and heart valves, medical equipment and synthetic skin are also expected to deploy 3D printing technology to a greater extent in the near future.

Browse Global Strategic Business Report: https://www.coherentmarketinsights.com/market-insight/3d-printing-for-medical-sector-market-80

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:

Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com

This release was published on openPR.