Medical 3D printing demand up as population ages

[Photo by MK DB]

As the global population continues to age, the increasing demand for customized medical devices is propelling the medical 3D printing market into the spotlight. This market encompasses a wide range of products created using 3D printing technology, including artificial corneas, blood vessels, spinal implants, and prosthetics.

In South Korea, companies like Plcoskin are making strides in the field. Plcoskin became the first Korean company to receive Grade 4 approval for a 3D printed medical device according to sources on Thursday and highlighted the emergence of technologically advanced small and medium-sized enterprises (SMEs) in the industry.

Plcoskin specializes in developing advanced regenerative medical materials for soft tissue reconstruction. These materials are particularly useful in addressing issues such as skin depression and bone exposure following major surgeries, such as cancer operations. The company’s 3D printed soft tissue materials have already been applied in over 200 human cases and it is preparing to expand into the U.S., European, and Japanese markets.

Another key player, Holosmedic, is set to launch a 3D printed biodegradable scaffold for use in cosmetic surgery later in 2024 and aims to enter the market for bio-based medical devices with this innovative product. Additionally, Medyssey is producing spinal implants using a metal 3D printer, while MEDiFAB, which released a 3D bioprinter in 2023, supplies products to university research labs and medical device companies. MEDiFAB is also marketing 3D printed craniofacial reconstruction implants.

According to industry sources, the 3D printing medical device market is poised for significant growth. Valued at $2.12 billion in 2021, it is expected to grow at an average annual rate of 17.5 percent to $6.58 billion by 2028.