Increasing innovative applications and rising awareness are expected to drive the growth of 3D printing market in Healthcare Industry
3D printing in healthcare industry is likely to witness immense growth opportunities in the next few years, according to Verify Markets analysis. Technological advancements in 3D printing technology have revolutionized various manufacturing processes and industries across the world. 3D printing has offered a viable solution for researchers and product designers to design and develop new products at a significantly lower cost and time. Moreover, 3D printing also has considerably reduced the time and materials wasted, which occurs during the prototyping and testing phase. Due to these advantages, 3D printing technology has been widely adopted across various verticals, globally.
One of the key industries to leverage the benefits of 3D printing recently has been the healthcare industry. Rising costs of medial surgeries and growing demand for highly efficient and accurate surgical tools have led to the increasing adoption of 3D printing technology in this sector. 3D printing has found numerous applications in the healthcare industry, including manufacturing surgical guides, implants, medical instruments, bioprinting, and drug printing. 3D printing has enabled healthcare professionals to achieve a higher level of precision and efficiency in those applications. For instance, pharmaceutical researchers are able to design and develop customized drugs for individual patients by minutely adjusting the proportion of each component in the drug. The use of 3D printing has enabled end-users to achieve enhanced level of granularity and accuracy without the additional costs. Manufacturing of prosthetic limbs and aides has been another key area of application found by 3D printing. Physicians are able to design and print an appropriately shaped limbs to perfectly fit and function on the patient’s body. 3D printing has opened new avenues in the healthcare industry, in terms of innovation and new product development.
According to the analyst’s coverage at Verify Markets, increasing applications of 3D printing technology coupled with its rising awareness have led to the growing popularity of this market. Companies involved in this market are aiming towards offering comprehensive solutions comprised of 3D scanning, computer-aided design (CAD), and 3D printing capabilities. Some of the market participants including 3D Systems, Inc., Eos GmbH Electro Optical Systems GmbH, and EnvisionTEC GmbH have been rigorously engaged in research and development activities over the years. Moreover, entry of Hewlett-Packard Development Company, L.P. in this space is further expected drive the growth of this market across the world.
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Photo: William Root