- Sigma
Labs provides critical in-process monitoring technology to unlock
scalability needed to meet parts demand
- 3D
printed medical devices of all source materials market forecast to reach
$26 billion over two years
- As
industry reacts to current crisis, demand for 3D metal printed parts
expected to increase
From specialized surgical tools designed to meet a surgeon’s
unique needs to customized cutting guides for knee replacements, the healthcare
industry is poised to be transformed by additive manufacturing (AM), also known
as 3D printing (http://ibn.fm/q3ROJ).
However, scalability has been limited by the technology’s lack of in-process
quality control monitoring. Sigma Labs Inc. (NASDAQ: SGLB), a company specializing in
real-time quality assurance of 3D metal printing, presents a solution to
alleviate the onerous burden of quality assurance in mass production – at a
time when the 3D printed medical devices market is expected to reach $26
billion over the next two years.
While 3D printing technology (also known as additive
manufacturing) has long been used to create product prototypes, the lack of
product uniformity and onerous quality assurance costs had made engaging in
mass production a pipe dream. Sigma Labs, one of the leading providers of third
party in-process quality assurance software to the commercial 3D metal printing
industry, has allowed companies to monitor the quality of each product part in
the production process, layer by layer and in real time – leading to a dramatic
decrease in error rates and higher manufacturing yields.
According to industry think-tank SME, the 3D printed medical
devices sector – which already accounts for 17 percent of the total additive
manufacturing (AM) market – will grow to roughly $26 billion over the next 24
months. A key segment spearheading growth in the sector has been the design and
fabrication of replacement joints and artificial limbs. Over 30 million people
worldwide are in need of artificial limbs and mobility devices, yet less than
20 percent have access to them, largely due to the extremely time-consuming and
expensive process of producing customized prosthetics. 3D printing has sought
to address this issue by enabling an ever-increasing number of patients,
particularly from developing nations, to gain access to bespoke prosthetic
limbs. Healthcare NGO e-NABLE has been one of the pioneers in the field,
publishing free designs for prosthetic hands, which are available for anyone to
print and can cost as little as $35 (http://ibn.fm/YddEE).
However, the industry’s prodigious growth rate has not been
limited to well-documented manufacturing breakthroughs such as the design of
hearing aids, dental implants and prostheses. In northern Italy’s Lombardy
region, a shortage of ventilators in the midst of the viral outbreak was
compounded by a lack of replacement valves for faulty machines. With medical
suppliers unable to provide spare parts at short notice, 3D printing experts
and local business owners were able to collaborate and come to the rescue by
rapidly fabricating the replacement parts within a matter of hours (http://ibn.fm/E8xDs). Similarly,
in the United States, Massachusetts-based Formlabs, a manufacturer of 3D
printers, was able to swiftly reformat over 250 of their printers to produce
100 thousand nasal swabs for COVID-19 testing a day (http://ibn.fm/67WPy). With the
scope of 3D printed medical devices widening on a daily basis, product safety
has increasingly become a factor alongside other variables such as production
cost, product longevity and functionality. As such, the need for a robust,
efficient and easily implementable quality assurance process has become
paramount.
To meet this requirement, Sigma Labs PrintRite3D(R) caters
to the highly technical and precise nature of the Additive Manufacturing 3D
metal branded equipment being created. In early April, the company launched the
newest iteration of its revolutionary PrintRite3D(R) software, providing
manufacturers with the ability to remotely monitor their 3D printing process in
real-time while offering actionable information and AI-driven metrics on a
production management user-interface platform. Moreover, Sigma’s technology can
be used on 3D printers from multiple manufacturers to provide a consistent
standard of quality assurance, thereby allowing for the technology to be
deployed throughout a manufacturer’s supply chain (http://ibn.fm/ejfV5).
Following the launch and during a recent interview with
Proactive Investors, Sigma Labs Chairman Mark Ruport went on to reaffirm that
the company was now eyeing a “tremendous opportunity” to become the de facto
standard for third party in-process quality assurance of metal parts
production (http://ibn.fm/XnYS3).
The application of 3D printing within medical hardware and
healthcare has allowed the industry to access critical components as and when
they are needed – all at reduced cost, time, and wastage relative to
traditional manufacturing methods. However, 3D printing will only truly surpass
traditional techniques when the additive manufacturing industry moves from
‘post-process’ quality control to ‘in-process’ quality assurance. As one of the
leaders in its field, Sigma Labs and its technological solutions are well
positioned to capitalize on the industry’s explosive growth going forward.
For more information about Sigma Labs, please visit www.SigmaLabsInc.com
NOTE TO INVESTORS: The latest news and updates
relating to SGLB are available in the company’s newsroom at http://ibn.fm/SGLB
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