3D printing technology has come up as a blessing for the health care sectors! By demonstrating promising potential for the future of medicine in the past years, and its evolution is unstoppable. Just look at the impressive list of 3D printed healthcare materials and medical equipments below.
3D printed hearing aid, dental implants, titanium spinal implants; the technology is also being used to customize orthopedic implants and accessories, prosthetics and wearables. In the future, doctors may be able to bioprint skin cells to help heal burn wounds and also print out replaceable organs models, tumor models, finger splints, blood vessels, bones, heart valve, replicating human ears, drugs etc.
The application of 3D printing in medicine can provide many benefits, including: the customization and personalization of medical products, drugs, and equipment; cost-effectiveness; increased productivity; the democratization of design and manufacturing; and enhanced collaboration. As a result the global market in additive manufacturing has reached $7.3 billion in 2017, growing at a compound annual growth rate of 21%. Of that, 11% was in medical and dental technologies. Industry expects the vastly emerging 3D printed medical device market to reach $1.88 billion by 2022.
3D printing Industry forecasts that the global healthcare market is expected to garner at a CAGR of 26.2% during the period 2015 – 2020. External wearable devices application is set to boost the 3D printing healthcare market to $2.3 billion by 2020. In addition, medical and surgical centers are the major end users of the 3D printing technology by constituting around three-fourths share of the total 3D printing healthcare market. Other factors, such as technological advancements leading to the enhanced application and increasing scope of bioengineering products are driving the growth of the healthcare 3D printing market.
Currently North America is the leading consumer of 3D printing technology in the Healthcare and Pharmaceutical industry and accounts for 39.7% of the entire market followed by Europe. Middle East as compared with other 3D printing market segments is growing at a faster rate that in comparison with the other regions. Particularly in countries like Saudi Arabia where the economy is on surge, with some active investment focused on growing R&D will further enhance the 3D printed devices to accelerate healthcare 3D printing industry growth. Moreover, rising trend for personalized implants and surging healthcare expenditure will further boost market growth in emerging nations like Saudi Arabia.
Owing to rising adoption of advanced healthcare 3D printed devices and launch of innovative technologies, prominent players are focusing on inorganic and organic growth strategies to upsurge their revenue. Sighting the advantages and opportunities, Explore Exhibitions and Conferences organizes the first ever 3D printing conference in Saudi Arabia, which is scheduled on 7-8 Oct 2019, Riyadh. Early adopters from various industries like Healthcare, Pharmaceutical, agriculture, aerospace & defense, manufacturing, education, oil & gas and automotive shall be debating & presenting the best used cases in the world. Along with them the event will also feature leading solution providers of AM technology showcasing the world’s leading innovations and its significant benefits, whilst identifying distributors who can carry their brand to corners of Middle East.