Welcome to the latest round of Kapstone Medical’s “What You Missed Last Month” in the Medical Device industry. Here’s what you missed in Med Device and 3D Printing industry for the month of March:
A spin on the traditional SLA process, this new 3D printing technology uses UV light to “grow” objects out of liquid, making it a much faster way to print. It is also capable of employing a variety of materials, and generates previously impossible geometries. Traditional 3D Printing methods build objects layer by layer, potentially taking hours to produce one prototype—this new process is said to be 25 to 100 times quicker.
In mid-March, FDA published data on 510(k) clearances for medical devices it approved in February 2015. Over 200 510(k)s were cleared, with 193 summaries and 15 statements.
This inspiring post shared by Kapstone Medical team member Marc von Amsberg shows just how much of an impact 3D printing will have on our lives now and in the future. Albert Manero of the University of Central Florida joins his fellow university students in producing bionic prosthetics for children missing limbs. A prosthetic hand for a child can cost over $40,000. Manero’s bionics cost between $80-$400 to make and are donated at no cost to children all over the world. What’s more, the Iron Man himself helped promote their cause by presenting their creation to a 6-year-old boy.
According to a new report, the global 3D printing market is expected to grow significantly in the next five years. By 2020, the market is expected to reach $938.2 million, with an annual growth rate of 20.3%. There are several major applications that have emerged in healthcare, including many in orthopedics and prosthetics, and a variety of factors are driving the growth.
Israel-based Voyant Health received FDA clearance for its iPad app called “TraumaCad Mobile”, which helps orthopedic surgeons with their pre-operative surgical planning.
Thanks for visiting us for another month of recaps. Interested in learning more about 510(k) submission? Read Kapstone Medical’s blog on questions to ask before submitting a 510(k).