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Back Plastic News Production facility Medtech in 2014 and beyond

Medtech in 2014 and beyond

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It has been a tumultuous year for the medical technology industry, as it struggles to adapt to a changing business landscape while continuing to advance innovation within strict regulatory guidelines. That dynamic will continue in 2014 and beyond. Here is an admittedly ad hoc selection of areas of interest for the medtech sector. This list is by no means exhaustive or authoritative--feel free to add your comments and perspectives on the year ahead.  
The 3D printing revolution
The pace of change in the medical device industry has been called glacial, so it is somewhat surprising to see how fast 3D printing, also called additive manufacturing, has made its mark. Part of the reason is the sheer immensity of what the technology can accomplish, from printing a functioning ear (watch the video) to fabricating a windpipe (and saving an infant's life in the process), all of which happened in 2013. Its potential is only limited by the regulatory strictures that seek to ensure the safety of devices and, yes, can delay innovation. 
In spite of institutional speed bumps, the global 3D printing market for medical applications is expected to grow at a CAGR of 15.4% from 2013 to 2019, according to a report from Transparency Market Research. By the end of that forecast period, medical-related 3D printing is expected to reach a market value of $965.5 million. 
The primary opportunities for 3D printing are in the orthopedics and dental sectors, where customization coupled with rapid manufacturing represent significant value to the patient. Thanks to government funding and favorable reimbursement rates, among other factors, the growth rate in Europe for medical 3D printing is expected to outpace the United States, according to the market intelligence firm. 

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