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Stratasys Unveils Medical 3D Printer, Boosts Market Foothold

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Stratasys Ltd. (SSYS - Free Report) recently launched a 3D printer for the medical industry to enhance surgical preparedness and improve training.

The J750 Digital Anatomy 3D Printer is also expected to help design and create new medical devices faster, and focus on specific pathologies.

Currently, medical practitioners use various models that have limited capabilities. This new 3D printer is aimed at eliminating the need to use cadavers, animal, traditional, or virtual reality models in medical practices. It has already been tested successfully at several organizations.

The product is especially beneficial for medical device companies, which require new ways to drive faster adoption of technologies and procedures. Other areas, including academic medical centers are also expected to drive demand for the new printer.

Additionally, Stratasys introduced three new materials —TissueMatrix, GelMatrix, and BoneMatrix — to create cardiac, vascular, and orthopedic 3D printing applications. Moreover, the company released a Blood Vessel Cleaning Station that removes support material from inside 3D-printed blood vessels.

Bright Prospects of 3D Printing in Medical Space

Stratasys is aiming to bolster its position in the 3D printing market, particularly in the medical industry.

In recent times, 3D anatomical models – tailored to a patient’s specific needs – are gaining prominence as useful tools in practice of precision medicine and personalized treatments.

Anatomic models can be produced using various 3D Systems printing technologies such as ColorJet Printing, MultiJet Printing, Stereolithography and Selective Laser Sintering.  

Per a report by Market Data Forecast, the global 3D printing medical devices market (estimated at $1.48 billion in 2018) is projected to reach $5.59 billion by 2023 at a CAGR of 30.5%.

In November last year, Stratasys’ J750 and J735 3D Printers and the Objet30 Prime 3D Printer were chosen by Materialise for use with Materialise Mimics inPrint software for creating anatomical models used in patient care.

Consistent demand for printers and materials for healthcare customers is fueling growth of this segment.

Prospects Bright Despite Competition

Intensifying competition in the 3D printing space, especially healthcare market from the likes of HP (HPQ - Free Report) and 3D Systems (DDD - Free Report) continues to be an overhang.

Recently, HP expanded its HP Healthcare Edition print portfolio for improved patient safety and clinical efficiency. Moreover, in May this year, HP expanded its collaboration deal with direct-to-consumer orthodontics company, SmileDirectClub, to develop 3D-printed teeth molds.

Reportedly, 3D Systems is currently the only company that integrates its own software into printers to offer a solution for diagnostic purposes in medical specialties, including cardiovascular, craniofacial, gastrointestinal, genitourinary, neurological and musculoskeletal applications. Last month, it received additional clearance from the FDA to commercially use its D2P (DICOM-to-PRINT) software. Clinicians can now generate 3D printed diagnostic patient-specific anatomic models.

Furthermore, Medtronic plc (MDT - Free Report) has been making continued investments in 3D printing technology to stay ahead of the curve. Notably, in 2018, the company launched a titanium 3D printed platform – TiONIC technology – enabling more complex designs and integrated surface technologies for spine surgery implants. Interestingly, Medtronic uses Stratasys’ 3D printing solutions for medical tools, functional prototypes.

Nonetheless, Stratasys’ strong technological expertise and tenure in additive manufacturing will help it benefit immensely from the market’s prospects. Management expects continued demand for high-end PolyJet solutions from the medical industry.

Stratasys currently carries a Zacks Rank of #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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