3D Printing Medical Devices Market to Surpass $5.08 Billion by 2035 – Hunter Women’s Chronicle

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The medical device market is growing, and with “big 3D printing” at the forefront of all things manufacturing. In the United States, it was predicted that by 2020, 3D printing would reach annual revenues of $8 billion. This article takes a look at what 3D printing will mean specifically for the medical industry, as well as details on how you can use this strategy to your advantage in your future business ventures.

3D printing medical devices market

3D printing has become a major player in the field of medical device technology. It has greatly improved the healthcare industries and also provides many benefits to individuals including faster turnaround times for new products or procedures, lower costs and greater flexibility. All of these advantages will make it difficult for conventional medical device manufacturers to prosper in the long term.

Industry perspective

The 3D printing medical device business is expected to grow at a compound annual rate of 22.7% by 2035. These figures are attributed to intense efforts to curb the outbreak of infectious diseases, reduce the number of surgical wounds and an increasingly aging population. Additionally, the 3D Medical Devices market report predicts that in certain geographies such as Asia-Pacific, North America, Europe, and Rest of the World, the market shares are expected to witness significant growth during the forecast period.

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Global Industry Outlook

3D printing, which is an additive manufacturing process, offers the possibility of manufacturing components with desired designs and specifications. This new process generates great precision in the products using software and digital files generated by computer-aided design. Many key players such as Stratasys and 3Shape are opening international branches to promote the technology, which is expected to grow more than seven times from $2 billion in 2020.

History of 3d printing

3D printing has been around for a while and is widely considered to be the next big thing. Money is poured into 3D printers by all industries to create custom products in a variety of fields like medicine, construction, research, etc. Recently, there has been a shift from consumer printers to human-made markets.

Vertical Health Care Utilization

The healthcare industry holds a prominent position in the 3D printing market and is expected to generate significant revenue by 2035. High profitability created by smart applications is expected to propel sustainable order volume for the growth of the company.

Technical requirements for 3D printing medical devices

3D printing medical devices exceeded $2 billion in 2018 and is expected to reach $4 billion by 2020. The 3D printing market is expanding exponentially and will soon surpass $5 billion by 2020. 2035. There are obstacles in driving the growth of the medical device industry, such as the time-consuming and expensive processes that must be used in the manufacturing process, but many companies have successfully overcome these obstacles. 3D printing offers new levels of customization and value relevant to health diagnostics, devices, pharmaceuticals, medical devices, prosthetics and therapeutics.

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Consumer awareness of 3D printable medical devices (time to reach tipping point

With the rise in awareness of 3D printable medical devices, it wasn’t just one or two that became 3. Over time and as these devices began to be used more and more by hospitals , the price of these printers began to fall. . Just recently, in 2016, the drug delivery system, which was once only accessible with fully automated manufacturing and production line technologies, completely changed its business model with the introduction of a new project parallel.

Conclusion

The 3D printing market is expected to be a key driver for the biomedical device industry thanks to a wide variety of recent developments. While these services may represent a higher initial investment, they can reduce Ramped’s overall expenses and shorten the product cycle with rapid development times, helping companies keep pace with sophisticated healthcare needs. This method has already been used by various medical device companies in the market, which makes this segment of the industry all the more promising.

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