Since its introduction, 3D printing has been used in various areas in the medical field, for example building anatomical models, personalising medical devices and implants, aiding in precision medical interventions and the latest development, 3D bioprinting. The technology is expected to be worth no less than $3 billion by 2021 and looks set to disrupt the cost implications of several medical procedures.
"The growth of 3D printing in the healthcare and medical industry is accelerating. According to a report from market research firm International Data Corporation (IDC) released in 2019, healthcare providers are set to be the second largest industry that will spend on 3D printing this year, with a spending total of nearly $1.8 billion", mentions Rob Mesaros, Vice President of 3D Printing & Digital Manufacturing for Asia Pacific & Japan, HP Inc.
Rising demand for implants customizations during surgical procedures coupled with growing R&D investments is driving the healthcare 3D printing market growth. Currently, North America is the leading contributor to the global healthcare 3D printing market. The North American healthcare 3D printing market is projected to expand at a CAGR of 22.7 per cent during 2019-2024, leading to a global revenue of $901.2 million by 2024. However, the Asia-Pacific (APAC) region is anticipated to expand at the highest CAGR of 25.9 per cent between 2019 and 2024.
"As we are gearing towards industry 4.0 era, 3D printing is poised to transform the manufacturing process and how things are made. The advent of 3D printing opens up endless possibilities and unleashing a disruptive power in the global supply chain. For the Asia-Pacific region, China is the main driving force. The Chinese government is in support of the industry and multiple 3D printing action plans and fiscal support are in place. As a result, the use and spending of 3D printing have received a boost in the country with continuous interest and rising maturity," points out Mun Chun Lim, market analyst for IDC Asia-Pacific’s imaging, printing and document solutions research.
The Ministry of Industry and Information Technology in China released a plan to develop China's 3D printing industry in 2015 and 2016. That mission, the National 3D Printing Industry Development Promotion Plan (2015-2016), establishes goals for innovation and commercialization of 3D printing. In 2017, institutions in China spent $1.1 billion on 3D printing thus paving the way for customized implants that can reduce both use of materials and the likelihood of body rejection. Last year, China opened its first 3D bioprinting centre at Zhongshan People’s Hospital which will be used to study fields such as regenerative medicine and human tissue engineering.
On the other hand, Singapore invested $30 million to open one of the largest 3D printing centre at the Nanyang Technological University back in 2016. A year later, the Singapore Economic Development Board invested $18 million in partnership with the National University of Singapore and NAMIC (the National Additive Manufacturing Innovation Cluster) to open another centre for additive manufacturing to apply 3D-printing technology in the biomedical and healthcare fields. As a result, more and more world-leading companies are being attracted to Singapore by the exciting work being done in this field. In 2018, German chemical company Evonik announced that its interest in the potential biomedicine applications of additive manufacturing had convinced it to develop a high impact research and development hub in Singapore.
Singapore’s National Additive Manufacturing Innovation Cluster has also spread its roots in another Asian tech powerhouse, Taiwan, China. In 2018, NAMIC joined hands with Taiwan, China’s China Medical University Hospital (CMUH) and National Applied Research Laboratories to create Asia’s first medical 3D printing industry team. The 3D Printing Medical Research Centre (3D MRC) at CMUH is the world's first institute to hold the entire chain from the development of fundamental research to clinical applications. The operating model of the 3D MRC is unique when compared to similar entities in Asian, European, and American countries.
Dr Yi-Wen Chen, Deputy Director of 3D MRC shares, "Singapore's National Additive Manufacturing...
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