3D printing will be a $32bn industry by 2025, rising to over $60bn by 2030, according to estimates from analytics firm GlobalData. The CAGR between 2018 and 2025 will be 16%, with software growing slightly faster than hardware, materials and services.
How much healthcare will contribute to this growth remains to be seen. In 2018, healthcare represented only 10% of online printing demand. In contrast, the industrial and electrical sectors represented approximately 50%.
But changing trends may see a necessity for more 3D printing in hospitals and places of care. As a new GlobalData report on 3D printing in healthcare states, the growing old-age population has driven the demand for donor organs, while regenerative medicine using bioprinted, patient-derived stem cells allows for personalised treatment of certain diseases.
Use of bioprinted human tissue in drug discovery allows for quicker and more efficient processes, with better outcomes compared to using animal tissue, say the researchers. It also removes the need for animal testing, both in drug and cosmetic development.
3D printing may also revolutionise Big Pharma, with drugs being printed and adapted to specific patient requirements such as age and weight. This could equally save the pharmaceutical industry millions in costs, resources and waste.
It shouldnt be a surprise to know that the pandemic has played its part in galvanising the technologys use. The 3D printing community, from major manufacturers to start-ups and individuals, has responded to the Covid crisis by pledging to support the production of vital medical equipment such as ventilators and personal protective equipment (PPE) for hospitals tackling the pandemic.
A recent study into the costs versus benefits of introducing 3D printing technology into hospitals has shown that the tech can aid complicated surgeries.
The June study, undertaken by Dr Atanu Chaudhuri, Associate Professor in Technology and Operations Management at Durham University Business School, alongside colleagues at ORT Braude College of Engineering in Israel and the University of Southern Denmark, assessed the effectiveness of 3D printing technologies used in hospitals.
Results show 3D printing to be a key tool in easing both time and financial pressures for hospitals.
Surgeries with durations of 4-8 hours can be shortened by 1.5-2.5 hours if patient specific instruments are used and 25-30 minutes shorter if only an anatomical model is used to plan the surgery, Dr Chaudhuri tells Verdict.
Patient recovery times are also shorter (e.g. a patient is able to walk 1-2 days after surgery compared to 3-4 days before). Moreover, the patient will avoid any post-surgical complications and hence will not need to visit hospital or undergo other kinds of treatment.
Chaudhuri doesnt specifically compare success rates, noting that even earlier surgeries had been successful but could have led to post-surgical complications and longer recover time.
But, there are certain surgeries which were not attempted before, especially for smaller children, which could now be conducted with much more confidence, he reveals.
Whilst the benefits are clear and compelling, Chaudhuri and his fellow researchers advise caution. They acknowledge that 3D printing is a significant financial investment for hospitals to make, particularly those run by the British NHS already operating under heavy financial pressures, especially in pandemic times.
Benefits can far outweigh costs both for hospitals as well as for patients, says Chaudhuri. But, we must know where to apply it and how to quantify the benefits.
He also believes 3D printing should be a collaboration between surgeons and engineers, with no one party having an advantage over another through clinical or technical knowledge.
(One) myth is that Surgeons should not be involved in design or 3D printing. But surgeons who are learning how to do segmentation, how to design a surgical guide, will be ahead of others. Eventually many surgeons will like to learn about 3D printing and it will get integrated with the medical curriculum.
The other myth is Engineers from service providers do not understand clinical requirements well.
This may be initially true but many service providers have learnt the clinical aspects by working with many surgeons and hence when they talk to a hospital, which has not applied the technology before, they will already provide valuable experience and guidance, particularly on what is possible and what is not.
Clinical and operational outcomes of using 3D printing in surgeries have been demonstrated. But Chaudhuri sees a need for systematic studies for which type of surgeries and for which patient characteristics, are the impacts highest?
For public health systems, such cost-benefits analysis is critical, he tells Verdict. For private healthcare, there should be value-for-money for patients.
Chaudhuri says use of anatomical models will become standard for surgeries. 3D printed surgical guides and implants meanwhile will be used where the benefits are highest followed by advanced 3D printed models for surgical simulations for more complex surgeries.
3D bio printing i.e. printing of organs is further out in the horizon, but development is happening at a rapid pace.
Use of virtual and augmented reality in combination with 3D printing has high potential for complex surgeries, which deal with challenges of high visual-spatial complexity and extensive anatomic variation.
The physician also predicts a strong demand for tailor-made medical implants and surgical instruments to individual patients.
One of the leading applications of 3D printing in surgeries are in orthopaedics and orthopaedic oncology, especially in complex restructuring operations, followed by cranio-maxillofacial, neurosurgeries and cardiology.
(But) as I said before, more studies are needed across specialties and for different types of patients.
The future of 3D printing in healthcare will rely on executives as much as acceptance from medical experts. According to the data, it looks as though management is taking note.
In GlobalDatas Emerging Technology Trends Survey 2019 report, 146 medical executives were surveyed across 23 countries. All respondents confirmed some level of engagement with new and emerging technologies.
According to respondents, three-quarters of medical device companies expected 3D printing to disrupt the sector. When asked when they think 3D printing will start having a disruptive influence on the sector, 62% of industry leaders believed the disruption would occur within the next two to three years.
A total of 67% of respondents indicated that their business was ready for the impact 3D printing may bring, while approximately one-third indicated their business is not. Most medical device companies are currently using 3D printing, with only 15% of respondents stating that they were not at all likely to use it within the next three years.
When asked about spending on 3D printing, most medical device companies expect to increase budgetary allocation to the technology over the next five years compared to current spending. This means that although some companies may harbour doubts over the nature of the disruption to come, they are still planning to increase investments into the trend.
Two-fifths of companies surveyed see issues with the visibility of return on investment (ROI) as one of the barriers to adopting 3D printing. Concerns for CapEx budget constraints, technology integration challenges, and lack of skills were also highlighted as barriers.
As ROI and lack of in-house skills are cause for concern for respondents, the majority of companies (67%) were foregoing developing in-house acumen for partnerships with established 3D printing technology providers.
When asked what business objectives these companies are seeking to accomplish from investments in 3D printing technology, most respondents expect to be rewarded by efficiency (53%) and innovation gains (49%).Related Report Download the full report from GlobalData's Report StoreGet the Report
Latest report from Visit GlobalData Store
Go here to read the rest:
3D printing: Healthcare insiders' view on the tech - Verdict
- Signal of Benefit for Stem Cell Therapy in Progressive MS - Medscape - March 7th, 2024
- The Controversies Surrounding Stem Cell Therapy for Autism - The Portugal News - February 24th, 2024
- Benefits of Stem Cell Therapy - News Channel 5 Nashville - February 7th, 2024
- What is Stem Cell Therapy & How It Helps Others - Publicist Paper - January 31st, 2024
- A guide to stem cell therapy in Thailand - Thaiger - January 4th, 2024
- Half of pediatric patients with aHUS benefit from Soliris after... - AHUS News - December 21st, 2023
- Real world analysis on the determinants of survival in primary ... - Nature.com - December 5th, 2023
- The Best Beauty Gifts According To People Who Really Know Skin Care - HuffPost - December 5th, 2023
- The Eyepopping Factory Construction Boom in the US - WOLF STREET - December 3rd, 2023
- Benefit of Neoadjuvant Therapy Illustrated During ESMO Congress ... - Targeted Oncology - December 1st, 2023
- Benefits Outweigh Risks as FDA Inspects CAR-T Cell Therapy ... - Curetoday.com - December 1st, 2023
- Review What Real Cavityn Customers Say About Benefits and Side ... - Seattle Weekly - December 1st, 2023
- 'There is a Scientific Fraud Epidemic' - Slashdot - Slashdot - December 1st, 2023
- 15 Best Hydrating Serums to Soothe Any Skin Type 2023 - Town & Country - December 1st, 2023
- Innovations in Cosmetic Dermatology: A Glimpse into the Future - APN News - December 1st, 2023
- FDA Probes New Cases of Cancer That May Stem From Cancer Cell ... - MedCity News - November 29th, 2023
- Use of plant stem cells in topical formulations on the rise - CosmeticsDesign.com USA - November 29th, 2023
- Stem cell-based treatment controls blood sugar in people with Type ... - EurekAlert - November 29th, 2023
- Biologics Market is projected to grow at a CAGR of 8.5% by 2034: Visiongain - Yahoo Finance - November 29th, 2023
- Scientists devise new technique that can pinpoint the causes and ... - EurekAlert - November 29th, 2023
- Global Advanced Therapy Medicinal Products Market is on the brink ... - PharmiWeb.com - November 29th, 2023
- Introducing Orgavalue - The 2023 EIT InnoStars Awards winner - EU-Startups - November 29th, 2023
- Episode 160: Euan Ashley discusses precision medicine and the ... - IHMC - November 29th, 2023
- Is Phenq Right For You? Review The Facts Before Making a ... - Vashon-Maury Island Beachcomber - November 27th, 2023
- Cavityn Reviews - Does It Work? Cheap Scam or Effective ... - The Daily World - November 25th, 2023
- Trend Hunting With Beautystreams At Cosmoprof Asia 2023 - BeautyMatter - November 25th, 2023
- FDA Considers First CRISPR Gene Editing Treatment That May ... - Slashdot - November 25th, 2023
- How Do Plants Determine Where the Light Is Coming From? - Lab Manager Magazine - November 25th, 2023
- Deaths From Coal Pollution Have Dropped, But Emissions May be ... - Slashdot - November 25th, 2023
- Stem cell-based therapies for stroke in newborns - Cochrane - November 23rd, 2023
- Dr Leslie on Outpatient CAR T-Cell Therapy Programs for ... - OncLive - November 23rd, 2023
- Human Milk-Based Therapy May Be Beneficial in Blood Cancers - Curetoday.com - November 23rd, 2023
- Oncological Horizons: The Synergy of Medical and Surgical ... - Cureus - November 23rd, 2023
- Human and environmental safety of carbon nanotubes across their ... - Nature.com - November 23rd, 2023
- Immix Biopharma to Host KOL Event to Discuss its BCMA-Targeted ... - BioSpace - November 23rd, 2023
- #HearTheMarsdenKids call on NHS London to reconsider cancer ... - Metro.co.uk - November 23rd, 2023
- Diagnosis and Management of Cardiovascular Risk in Patients with ... - Dove Medical Press - November 23rd, 2023
- BioLineRx Reports Third Quarter 2023 Financial Results and ... - PR Newswire - November 21st, 2023
- Why our Award Winners Beauty Box is the ultimate beauty gift (for ... - Yahoo Singapore News - November 21st, 2023
- SightCare Reviews - Is Official Website for Sight Care Legit to Try or ... - Vashon-Maury Island Beachcomber - November 21st, 2023
- Legend Biotech Reports Third Quarter 2023 Results and Recent ... - StreetInsider.com - November 21st, 2023
- Lorenzo's Oil: Can It Really Treat ALD? - Verywell Health - November 19th, 2023
- Doctor Says Living To 120 By End Of Decade Is Possible What's the Secret? - Benzinga - November 19th, 2023
- The week in pharma: action, reaction and insight week to ... - The Pharma Letter - November 19th, 2023
- Race Cannot Be Used To Predict Heart Disease, Scientists Say ... - Slashdot - November 19th, 2023
- SpaceX's Starship Reaches Outer Space Before Intentional ... - Slashdot - November 19th, 2023
- Mesenchymal Stem Cells Market is projected to reach USD 3,319 million by 2030 according to a new research r... - WhaTech Technology and Markets News - November 17th, 2023
- LMRUK: Protecting the next generation through cord blood - Charity Today News - November 17th, 2023
- Anti-aging molecule discovered that extends lifespan - Earth.com - November 17th, 2023
- Montana State researcher envisions living building materials that ... - Montana State University - November 17th, 2023
- OxyHelp Explores the Benefits of Hyperbaric Oxygen Therapy for ... - StreetInsider.com - November 15th, 2023
- Health benefits of bone marrow - Pakistan Observer - November 15th, 2023
- Evolving the standard of care: What is next for functional ... - NeuroNews International - November 15th, 2023
- Affimed Reports Third Quarter 2023 Financial Results and ... - BioSpace - November 15th, 2023
- Meet the World's First Whole-Eye Transplant Recipient - TIME - November 15th, 2023
- Calidi Biotherapeutics Reports Third Quarter 2023 Operating and ... - Business Wire - November 15th, 2023
- 10 Asia-Pacific biotech companies leading innovation in the region - Labiotech.eu - November 15th, 2023
- Fitspresso Reviews (November Update) Natural Ingredients That ... - Bainbridge Island Review - November 15th, 2023
- 2seventy bio Reports Third Quarter Financial Results and Recent ... - Business Wire - November 15th, 2023
- Japan To Create $6.6 Billion Fund To Develop Outer Space Industry ... - Slashdot - November 15th, 2023
- Be The Match, Healthcare Marketing Impact Awards 2023 - Ad Age - November 13th, 2023
- Medicare coverage saves lives. Enrolling shouldn't be this ... - Kevin MD - November 13th, 2023
- Future Ocean Foods: 36 Global Alt-Seafood Startups Form Association To Tackle Overfishing, Microplastics & More - Green Queen Media - November 13th, 2023
- Orchard Therapeutics Reports Third Quarter 2023 Financial Results ... - StreetInsider.com - November 13th, 2023
- Celebrity doctor reveals Hollywoods hidden trend of stem cell antiaging therapies - Longevity.Technology - November 11th, 2023
- Amazon Expands Healthcare Push With One Medical Benefits For ... - Slashdot - November 11th, 2023
- Bene Meat Technologies becomes the first to receive EU approval ... - Pet Food Processing - November 11th, 2023
- FDA Grants Orphan Drug Designation to MAIA Biotechnology for THIO as a Treatment for Glioblastoma - Yahoo Finance - November 11th, 2023
- MaaT Pharma Provides Third Quarter 2023 Business Update and ... - Business Wire - November 11th, 2023
- IN8bio Reports Third Quarter 2023 Financial Results and Provides ... - GlobeNewswire - November 11th, 2023
- Fast Lean Pro Reviews - Overpriced or Optimal Ingredients That ... - Journal of the San Juan Islands - November 11th, 2023
- Fate Therapeutics Reports Third Quarter 2023 Financial Results and ... - GlobeNewswire - November 11th, 2023
- Worlds first whole-eye and partial face transplant gives Arkansas man new hope - CNN - November 9th, 2023
- Glowing Fingertips And Green Eyes: First-of-Its-Kind Monkey ... - ScienceAlert - November 9th, 2023
- 10 Natural Body Scrubs That Exfoliate And Invigorate My Skin - PINKVILLA - November 9th, 2023
- CRISPR Therapeutics Provides Business Update and Reports Third ... - StreetInsider.com - November 9th, 2023
- Fate Therapeutics Reports Third Quarter 2023 Financial Results and ... - StreetInsider.com - November 9th, 2023
- Sight Care Reviews - Overpriced or Worth the Hype? SightCare Pills ... - Journal of the San Juan Islands - November 9th, 2023
- 6 Amazing Health Benefits Of Giloy (Tinospora cordifolia) - WION - November 9th, 2023
- The Global Market for Bispecific Antibody Therapeutics Contract Manufacturing 2023-2030: Driven by Demand for Innovative Therapies and Promising... - November 7th, 2023
Recent Comments