Evonik capitalizes in Chinese 3D-printing start-up manufacturing medicinal implants
Published Date | 2019 September 9
Meditool’s 3D-printed neuro and spine surgery implants help in faster patient recovery and less surgical risk which will impel the global medical imaging systems market
Global: Evonik Venture Capital has invested in a 3D-printing start-up in China which makes implants for spine and neuro surgery. The technology is enabling fewer post-operation checks and faster recovery of patients and less surgical risk for doctors. Evonik is lead investor in a high single-digit million-euro round of fundraising for Shanghai-based Meditool. Evonik’s investment strengthens the smart materials growth engine with the innovative application for high-performance polymers. Meditool has developed software and hardware systems. The software read and process images directly from commonly used magnetic resonance imaging (MRI) or computed tomography scan (CT) devices. The implants are 3D printed with a high-performance polymer supplied by Evonik called Polyetheretherketone (PEEK).
According to BlueWeave Consulting, global medical imaging systems market is anticipated to witness the momentous growth rate in the coming years. Technological improvement, hospitals moving towards automation, digitization of radiology patient workflow, and increasing acceptance of alternative imaging modalities improving workflow efficiency across hospitals are driving the market. Chronic diseases such as cancer, cardiovascular (heart) disease, arthritis, asthma depression, and diabetes are rising across the globe at a higher rate. Diagnostic imaging systems help to identify such conditions at earlier stages. The high cost of diagnostic medical systems due to technological innovations that adds additional costs are expected to hinder the market growth of the diagnostic imaging systems market.
According to BlueWeave Consulting report titled “Global Diagnostic Medical Imaging Market, By Product Type (Computed Tomography (CT) Scanners, X-ray Imaging Systems, MRI Systems, Ultrasound Imaging Systems, Nuclear Imaging Systems and Mammography Systems), By Application (Neuronal Spine, Orthopedics and Musculoskeletal, Cardiovascular and Thoracic and General Imaging), By End-user (Hospitals and Imaging Centers); By Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America); Trend Analysis, Competitive Market Share & Forecast, 2015-2025”
Global Diagnostic Medical Imaging Market is significantly growing in recent years with a CAGR of 4.95%, in value terms, over the forecast period 2019 2025, and expected to reach USD 40653.32 Million by 2025. Rising incidence of chronic illnesses, such as cancer and cardiovascular events, escalation in the geriatric population, and improvements in technologies, are significant factors boosting the market over the forecast period.