HOW THE DEPLOYMENT OF 3D PRINTING IN MEDICINE MARKET WILL REVOLUTIONIZE THE HEALTHCARE SPACE: U.S. TO BE A MAJOR REVENUE POCKET OVER 2017-2024
The last couple of decades have witnessed a heavy proliferation of 3D printing in medicine market, as is rather overt from the fact that technological advancements have made it convenient for 3D printing to contribute substantially toward complex surgeries. Given that this technology increases the success rate of complicated procedures and can also enable preclinical drug testing, the deployment of 3D printing in medicine industry is all set to transform the dynamics of the healthcare sphere. The increasing usage of 3D printing in medicine market is also directly influencing the expansion of the pharmaceutical space, owing to the rising demand for dental and orthopedic products.
The emergence of techniques such as syringe-based 3D printing and magnetic levitation have been primarily responsible for the ascent in 3D printing in medicine market size. Syringe based 3D printers ideally have the ability to work with soft materials and are used to design body parts and organs. These bio printers, based on the extrusion of hydrogels and polymeric substances using syringe-based technology, have extensively contributed toward the increasing 3D printing in medicine industry share. However, the advancement of magnetic levitation has also proved to be highly beneficial for the rising propagation of 3D printing in medicine market. This product has proved to be majorly effective in separating circulating tumor products from unprocessed whole blood, bypassing the use of antibodies that has often caused complications of the own. The process of magnetic levitation has also been used to distinguish cancer products with magnetic blueprint, further stimulating healthcare 3D printing market.
The launch of ink jet printers to print tissues with blood vessels that can easily replace the original can be classified as one of the most transformational incidences demonstrating the significance of 3D printing in medicine market. Inkjet based printers are expected to majorly contribute toward the growth of 3D printing in medicine industry as they are vastly functional in tissue engineering and regenerative medication production. These printers are also highly adaptable, have better accuracy and improved controls – factors that will propel the growth of healthcare 3D printing market in the ensuing years.
Medical research companies have been striving to bring about a change in the technologies deployed for the proliferation of 3D printing in medicine market. Medical experts have been able to replicate body parts like hearts, lungs and liver with 3D printers to help them preplan complicated surgeries. In this regard, stereolithography 3D printing has been adopted to rapidly build prototypes, production parts and master patterns, that are becoming popular with healthcare experts, enabling the growth of 3D printing in medicine market.
The United States captured 90% of the healthcare 3D printing industry share in 2016, chiefly owing to enhanced healthcare infrastructure in relation to medical 3D printing, huge investments in research and development, and increasing patient awareness. Canada has also been making commendable contribution to this industry, deploying the technology to recreate the patient’s joints. Driven by the prevalence of a sophisticated healthcare infrastructure, North America healthcare 3D printing market is likely to gain major proceeds in the years ahead.
Using 3D printers to manufacture body parts is relatively less expensive than manufacturing prosthetics. The technique also makes replicating organs far easier and highly accurate than any other technology. However, these printers are rather expensive, which might prove to be a factor hindering the growth of 3D printing in medicine market over 2017-2024. The absence of a stringent regulatory framework, copyright infringement issues and shortage of technical expertise may also work as restrictive factors for this business space. However, the advantages of 3D printing technology and its medical benefits are likely to win over these factors in the near future, as per expert opinions. With the lowering of medical costs and the advancement of innovative techniques, 3D printing in medicine market outlook is projected to witness a major transformation over 2017-2024.