What are the benefits provided by the Global Healthcare 3D Printing Market?

Posted by Andrew Thomas on April 3rd, 2019

3D printing is used in almost every industry, but its application in the medical and healthcare industry has provided a bevy of advantages in the diagnosis and treatment of disease. Constantly improving and advancing itself, 3D printers can create physical objects from a digital design. There are several 3d printing technologies, however, they all are all based on the same principle. They use lesser material to produce complex shapes in comparison to traditional manufacturing methods. Its various applications include architectural scale modeling, prototyping, and prosthetics.

 According to research carried out by a leading market research company, the global healthcare 3D printing market is anticipated to expand at a CAGR of 23.1% and generate a revenue of approximately USD 2.48 billion by 2024. The new technologies and innovations in the medical industry impact the health care processes and operations and this leads to saving more lives. 3D printing in healthcare enables doctors to work efficiently and speedily, reduce patient theatre time and improve treatment results. Specialists are utilizing this technology in advanced ways and patients are experiencing a better quality of care through 3D printed prosthetics and implants.

 Advantages of global healthcare 3D printing market:

1.      Cost efficiency: Practical benefits are not all that 3D printing has to offer. 3D printing disrupts the costs incurred in several medical procedures. An average kidney transplant can cost USD 330,000, while the conventional 3D bioprinter costs just USD 10,000.  The price of several medical procedures may reduce drastically in the future if the competition with 3D printers get any stiffer. Not only do 3D printers reduce treatment costs, but also simplifies the treatment process.

2.      Production of smarter drugs: with the help of 3D printing, pharmacologists can design drugs which can be a potential solution to a range of ailments. This will help patients who need to take a large number of pills. One such drug produced with the help of 3D printing is available for patients who suffer from diabetes and hypertension. These drugs are designed in such a way that allows them to release different compounds at specified times, which is quite a feat.

3.      Practice for professionals: Some medical procedures are complicated and risky and can be tricky for even the most experienced surgeons. By providing a replica of body parts and internal organs, doctors get an insight which is not possible through any other form of medical diagnostics. 3D printers have recreated complex body parts like blood vessels, and many organoids or mini organs are being created by medical specialists.

 3D printing has ushered in a new era in medical history and is known for its efficiency, cost effectiveness, and convenience. Experts are of the opinion that in the near future, 3D printers will be able to facilitate better patient prognosis and cheaper organ transplant. They will be able to provide a cost-effective and sustainable framework to tackle poorly functioning organs. Modular 3D printed prosthetics offer the same functionality as conventional models but are cheaper. Drug manufacturing, organ transplantation and other fields of medicine will evolve with the advancement of the global healthcare 3D printing market.

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