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Eugene Ramirez | March 2020
The value of 3D printing in Latin America’s healthcare industry is projected to grow. A 2019 report by Ken Research suggests it will reach $1.97B by 2023.
The study attributes this in part to infrastructure development in the region, with key players improving upon the materials and technology used to develop 3D printed medical devices.
The industry has various components. Some focusing on technology (laser beam melting, photopolymerization, etc), others
on materials (plastics, metal, ceramic), and then those manufacturing the different types of 3D printed products. Among them, devices for cardiology, radiology, and orthopedics to name a few.
It’s precisely the broad range of applications of this technology within the medical field that is fueling its growth. A Market Data Forecast report states 3D printing will streamline pre-operative planning and lead to better surgeries and patient outcomes.
However, there are some challenges. The high cost of 3D printers is one of the biggest obstacles, along with reimbursement challenges. Beyond that, regulation and lack of technical skill in some emerging markets places some limits on a worldwide boom. Still, some applications are seeing its large share of 3D printed devices, particularly the external wearable device segment.
Despite growth opportunities in Latin America, North America is projected to hold on to its dominance in the 3D printing field with increase in research and development, and increased partnerships between academic and commercial organizations.