No matter how you slice it, the spike in industry-wide 3D printing revenues over the past 5 years has been impressive. A close look at that growth, however, reveals something interesting: it’s been disproportionately driven a small handful of vertical markets. Of these select markets, none has been as influential as MedTech. Metal-based additive manufacturing (AM), in particular, has proven to be perfectly suited to meet a number of needs in medical and dental device production.
Metal 3D printing continues to play a key role in driving innovation within the MedTech industry. The process has three primary advantages over traditional manufacturing techniques:
As technology improves and processes are refined, metal 3D printing has grown increasingly popular and accessible. But even as price points for 3D printers come down and new applications for additive manufacturing are discovered, challenges remain that prevent many companies from utilizing this innovative technology to its full potential.
3D printing is being utilized in a variety of industries due to its high-quality customization capabilities and on-demand manufacturing, among other key benefits. Out in front among the sectors taking full advantage of additive manufacturing technology is the healthcare industry.
The U.S. medical device industry is considered by many to be one of the country’s most innovative business sectors. Not surprisingly, due to the nature of medical devices and the critical issues they address, it is also one of the most highly regulated.
Additive manufacturing (aka 3D printing) has a singular, strategic advantage in the medical device market: personalization.
The medical device market is booming and is expected to reach a value of $543.9 billion by 2020, and an increasing number of those devices are the result of 3D printing.
3D printing’s big advantage is its ability to produce implantable medical devices customized specifically for a patient – more quickly and cost-effectively than in traditional manufacturing methods.