By Erica Kramer, Ph.D., Nerac Analyst,
Originally Published: January 19, 2017
The global 3D printing healthcare market is projected to grow to $2.3B by 2020, with medical and surgical centers expected to be the dominant end user segment. External wearable devices are expected to account for the largest market segment as a result of an aging population with increasing rates of osteoporosis, amputations, hearing loss, and dental problems.
Despite the exciting scientific advances and promising market outlook there are a number of factors which may impede market growth, including the high cost of advanced 3D printers, copyright and patent issues, biocompatibility concerns, limited technical expertise, and significant regulatory and reimbursement challenges. As with any medical device, it is critical that regulatory strategy is carefully considered early in the product development lifecycle.
Related Posts
- 61By Ron Sills M.S., Nerac Analyst, Originally Published: July 6th, 2015 The medical devices market was estimated at $361 billion in revenues in 2014. Various sources project a 3 – 4% annual growth rate going forward, driven by an aging population in developed nations, as well as increased spending in emerging regions. This forecast indicates…
- 56By Donna Mitchell-Magaldi, Nerac Analyst Originally Published: February 10, 2015 It is no surprise to anyone in the medical device industry that the European Commission is working on a new regulatory framework that will in essence take the three existing directives: Directive 90/385/EEC regarding active implantable medical devices, Directive 93/42/42 regarding medical devices, and Directive…
- 55By Ron Sills, Nerac Analyst Originally Published: September 29th, 2014 The European Union’s Council Directive 93/42/EEC concerning medical devices contains the essential requirements to be met by medical device manufacturers in order to market their products in the 28 member countries. A technical file for Class IIa and IIb devices, or a design dossier for…