3D printing, also known as additive manufacturing, is regarded as the next industrial revolution in manufacturing, with high potential to provide cost-effective methods to achieve complex and customized medical parts and components, such as tissues, organs, orthopedic and cranial implants, dental prosthetics, and others. The demand for customized additive manufacturing is high as customized structures as more comfortable for patients.
- Moreover, patent expiration will lead to the end of monopolistic control of some companies over the market, making additive manufacturing products more competitive in the market, which will improve the quality of the product. These factors have helped the market grow in the North American region.
- However, the cost of additive manufacturing is still high which leads to affordability issues, especially in developing and underdeveloped countries. Also, there is a lack of skilled professionals to operate these machines. These factors have impeded market growth.
Key Market Trends
Polymers are Expected to Register a High Growth
- Polymers and their composites are one of the most widely used additive manufacturing materials due to the vast potential for various applications in healthcare. Polymer-based additive manufacturing has been used for decades in creating prosthetic limb parts as well as medical instruments. These polymers are also used to make plasters specifically for each patient that not only hold the structure to ensure healing but are also comfortable as they can be customized for each patient. This is done through the use of a machine that combines additive manufacturing with 3D scanning procedures capable of scanning a patient's limb and printing custom plasters in an incredibly short time.
- Moreover, the polymers are also used in crafting hearing aids, preparing models that can aid in diagnosis and preoperative planning, and preparing models of organs or specific body parts that can be developed for practice purposes to demonstrate various sensitive surgical procedures, such as osteotomies.
- According to the WHO 2019 report on "Deafness and Hearing Loss", the number of an absolute number of people with hearing loss has been steadily increasing during the last decade in even more developed parts of the region like the United States. This has helped in the growth of the market.
The United States and Canada have developed and well-structured healthcare systems. These systems also encourage research and development. These policies encourage global players to enter the United States and Canada. As a result, these countries enjoy the presence of many global market players. As high and increasing demand is met by the presence of global players in the region, the market is further expected to increase.
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