IQ4I Research Published a Report on 3D Printing Medical/Healthcare Global Market- Forecast to 2022

Boston, Massachusetts, March 29, 2016 (Newswire.com) - This report analyzes the 3D printing medical/healthcare global market in terms of market revenue ($ million) for all segments and it enables 3D printing product manufacturers, vendors, raw material supplier, research laboratories and hospitals, 3D printing associations, research associations related to 3D printing technology, various research and consulting firms and other associated stake holders to identify and analyze market expansion opportunities, upcoming technologies, Patent Trends and competition in 3D printing medical/Healthcare global market.

3D printing/additive manufacturing is a technology that fabricates 3D products in layer fashion by adding different type of materials. This technology was introduced in late 1980’s and has made our lives better in numerous ways and is industrially revolutionizing day-by-day by manufacturing prototypes, customized body parts & organs and medical devices etc in healthcare sector. Even though, traditional product manufacturing process is still in the market, the emergence of novel 3D printing technology is rapidly increasing due to high demand for personalized products. It is one of the promising technologies facilitating advancement in utilizing speedy CAD designing process for engineering the product. Earlier, most of the printers were compatible with single material type, but today the trend has changed to multi-material printers, which are chiefly used for prototyping. Currently, 3D printing services in healthcare sector is used mainly for preparation of anatomical models, medical equipments, prosthetic parts and tailor-made sensors etc for hospitals with comprehensive quality.

At present, bioprinting is still in its formative years where demand for tissue engineering and transplanting organs has raised in the market to meet the unmet need. Recently, in March 2016, life of nine-month old baby with congenital heart defect was saved by Chinese doctors by performing open heart surgery utilizing Materialise’s Mimics software to convert MRI scan to 3D printed heart. These kind of advanced technologies has not only shown path for tissue engineering segment but also has taken a great step towards development of regenerative medicine and cell culture where scientists have developed 3D printed embryonic stem cell blocks for tissue regeneration and medical testing purpose which is a breakthrough event in the industry. In February 2016, Cell Applications and Cyfuse Biomedical introduced scaffold-free Kenzan method where array of needles are used for development of manipulatable vascular tissues for heart, liver, skin, pancreas, lung & trachea and cartilage which is setting-up a trend in the industry. As estimated by IQ4I Research, the global 3D printing healthcare market is expected to reach $2,841.2 million by 2022.

Eventually, rise in 3D printing technology has rolled its focus on pharmaceutical industry where personalized medicine with appropriate dosage, size, color and delivery mode is adopted for improved patient-care. For instance, in August 2015 Aprecia pharmaceuticals developed Spritam, an anti-epileptic drug for epileptic seizures. Since, populace are gearing up to adapt novel technologies for betterment of healthy lives, factors such as high demand for customized implants, high investment in R&D and usage of CAD/CAM technology are driving the market, whereas, high cost of printers and limited type of material availability are the factors hindering the market growth. Reimbursement is still a challenge, as the technology is expensive.

Patents are explored for both process and technologies from the year 2011-2016 since, continuous research and innovations are on-going from different companies for advanced product offerings. Filing of patents exhibited significant impact on the growth of company’s product portfolio to maintain dominant position in the industry. Some of the major companies included in 3D printing healthcare market are 3D systems, Arcam AB, EnvisionTEC, EOS, ExOne, Materialise N.V., Optomec, Organovo, Reinshaw, Nano3D biosciences, SLM solutions and Stratasys. At present, extensive choice of viable 3D printers for various industrial applications are available where 3D Systems and Stratasys plays a major role with high market capitalization.