(PharmaNewsWire.Com, December 18, 2017 ) Asia-Pacific Medical Device 3D Printing market is estimated at USD 107.38 million in 2015 and is poised to reach USD 370.69 million by 2020, growing at a CAGR of 28.12%. 3D printing is being considered as the next greatest chapter in the industrial uprising. This technology has the potential to radically transform the way medical devices are used to treat patients. It will impact health care in many ways, including implantable and non-implantable medical devices, along with cost-effective customizable devices.
The major factors driving the growth of 3D printed medical device in Asia-Pacific region are the latest advancements in technologies, growing awareness about the new developments in the medical, diversity of materials that range from polymers to living tissue, supportive policies and funding from government. In addition, the rising demand for patient-specific products in orthopaedics and maxillofacial surgery and the availability of wide range of material options like polymers, nylon etc. and the reduction in prices of 3D models have increased the adoption of 3D printing in various medical fields.
The Asia-Pacific medical device 3D printing market is categorised on the basis of product type into Prosthetics, Medical Implants, Surgical guides, Surgical Instruments and Hearing & Audibility Aid devices. On the basis of Material used for manufacturing the market is segmented under Ceramics, Metal & Metal alloys, Nylon, Plastics, Biomaterials, and Wax. It has been observed that the plastics namely, acrylonitrile butadiene styrene (ABS), and polylactic acid (PLA) along with nylon, have seen an increased usage mainly due to the comfortability and simplicity in application. Further, use of metals with high strength and resistance is expected to have fastest growth in the near future.
In addition, on the basis of technology the market products are segregated under various technologies employed namely, Laser beam melting (LBM), Electron Beam Melting (EBM), Wax deposition Modelling, Droplet Deposition, and Bio Printing.
Further, on the basis of geography the market is segmented and analysed under countries namely, India, China, Japan, Australia and South Korea. Japan being the most technologically advanced nation in this region is predicted to show high potential for growth in the near future. While both India and China present great opportunities and will be the target market for major MNC’s.
Some of the major companies operating in the 3D printing industry with significant presence in medical equipment domain are Stratasys Ltd. 3D Systems Corporation, EnvisionTEC GmbH, Renishaw plc, EOS GmbH Electro Optical Systems, Materialise NV, 3T RPD, Ltd., Concept Laser GmbH, Arcam AB, and Prodways.
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