SmarTech Says 3D Printing Technologies to Significantly Disrupt Business Models and Process Chains in Orthotics and Prosthetics Market, Impact 35 Percent of All Medical Devices by 2027
Crozet, Virginia: The latest medical 3D printing industry report from SmarTech Publishing –the leading provider of industry analysis and market research services to the 3D printing/additive manufacturing market –projects a disruptive impact for a number of key 3D printing technologies and applications within the multi-billion dollar orthotics and prosthetics (O&P) market over the coming decade. Early research and applications have demonstrated a unique ability for 3D printing to completely revolutionize business models and access to custom and functional prosthetic and orthotic medical devices. Further adoption of 3DP in O&P markets from today’s early innovators is projected to eventually impact an estimated 35 percent of all devices produced, while generating hundreds of millions of dollars in economic impact and revenue opportunities for 3D printing solutions.
For more details on the report titled, “Opportunities for Additive Manufacturing in Medical Devices – Prosthetics, Orthotics, and Audiology“, go to: https://www.smartechanalysis.com/reports/opportunities-for-additive-manufacturing-in-medical-devices-prosthetics-ort
SmarTech is also cohosting the Additive Manufacturing Strategies Summit (https://additivemanufacturingstrategies.com/) in conjunction with 3D Print.com that will take place in January 2018. At the event SmarTech analysts will present findings from this report as well as other related medial and 3D printing studies.
About the Report:
Early experiments with 3D printing of orthotic and prosthetic devices have proven 3D printing, as a digitally enabled process, can expand access to medical devices through disruptive cost-to-value ratio and flexible on-demand manufacturing.
Scott Dunham, Vice President of Research at SmarTech Publishing and author of Opportunities for Additive Manufacturing in Medical Devices – Prosthetics, Orthotics, and Audiology, stresses the importance in understanding the potential impacts that 3D printing/additive manufacturing will have in the O&P market.
“It’s important for stakeholders in the orthotics and prosthetics business to realize what the far-reaching potential impacts that 3D printing will have in how podiatrists and prosthetists can treat patients, and how consumers will shift their approach to treatment options for amputation and biomechanical dysfunction altogether in the future. When you see compassionate-use groups printing an entire transradial prosthetic hand for children in underserved areas that costs less than $500 and is competitive with a $15,000 traditional device, it’s important to understand how such a use case could be expanded to really disrupt the existing industry structure.”
The report focuses much of its 120 pages of content and market analysis on applications and industry adoption of 3D printing in orthotic and prosthetic devices, including upper and lower extremity prosthetic applications, to the manufacture of orthotic insoles and ankle-foot orthotic style braces. Report features include:
- Ten year revenue opportunity forecasts for sale of printers by technology, print material by form factor and polymer/alloy family, print services by device type, and software by tool functionality
- Penetration and economic impact analysis of adoption of 3D printing in the existing markets for prosthetic and orthotic devices, including total market valuation of printed medical devices or device components where relevant, and the penetration of 3D printing as a production process compared to incumbent methods of manufacturing
- Production volume forecasts for printed prosthetics, orthotics, and related components by device type through 2027, split by print material where relevant
From the Report:
- The manufacture of custom orthotic insoles using polymer powder bed fusion and material extrusion 3D printing technologies are expected to disrupt the business model and care structure for custom orthotics worldwide, and may significantly shift the role of the podiatrist in the dispensing of orthotic insoles in the future. This could spark adoption of low cost printing technologies directly in-office by foot care specialists.
- In prosthetics, 3D printing holds promise as a production process to upend the traditional market where prosthetic devices often cost between $10,000 and $50,000 or more, and only have an expected useful product lifecycle of five years or less. Digital manufacturing allows not only for the potential for the creation of much more accessible devices from a cost perspective, but also for a much more sustainable approach to life-long amputee care through a digitally powered process using scanning and imaging technology.
Source: SmarTech Publishing
About SmarTech Publishing:
Since 2013 SmarTech Publishing has published reports on all the important revenue opportunities in the 3D printing/additive manufacturing sector and is considered the leading industry analyst firm providing coverage of this sector. Our company has a client roster that includes the largest 3D printer firms, materials firms and investors in the 3DP/AM sector.
For more details on our company go to www.smartechpublishing.com
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