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| 3-D printed injection molds--Courtesy of Stratasys |
Making medical device prototypes using 3-D injection molding, rather than traditional aluminum molds, could reduce the costs and time associated with the product creation and iteration process. That's what major 3-D printer Stratasys is betting on with its new partnership with Worrell.
Creating a new medical device via traditional tooling requires making a mold that has to be created again as it is refined prior to manufacturing. To reduce these costs, Worrell uses Stratasys' PolyJet-based 3D printers to create injection molds. These are adapted and injected with the same materials used in a finished medical device.
This process innovation creates faster, cheaper medical device prototypes that more easily accommodate the iterative process. This process produces injection-molded prototypes using production-quality materials in 95% less time and at 70% less cost than traditional aluminum molds, the partners said.
"We have recognized a significant underutilization of the 3-D printed injection molding process in medical device development and we're working with Worrell to help fill this gap," Nadav Sella, senior manager of manufacturing tools at Stratasys, said in a statement. "We want to use this collaboration to demonstrate how medical device manufacturers can bring their products to market significantly faster than ever before."
For example, Worrell recently designed and engineered a needleless blood collection system to reduce the need for multiple injections for startup MedTG.
"Using 3-D printed injection molds, we are able to create a prototype for a fraction of the cost and in a matter of days compared to the eight-week lead time associated with traditional tooling processes," Worrell CEO Kai Worrell said in a statement.
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| Stratasys' Objet500 Connex 3D Printer--Courtesy of Stratasys |
The 3-D printing business is growing fast and the providers are a volatile bunch for now. During the second quarter, Stratasys reported $178.5 million in revenue. That's an increase of 67% over the same period a year ago. It recently raised its organic revenue growth forecast for 2014 to 30% from 25%.
Medical devices, followed by aerospace, are the largest segments in its Solid Concepts business with 23% and 19%, respectively, of the $65 million in 2013 revenue. Stratasys acquired Solid Concepts in April for an undisclosed amount.
Stratasys has a market cap of almost $6 billion. But after a strong 2013 showing, its share price has shed about 12% so far in 2014. Investors aren't quite sure who will take the lead in this fast-moving field. Earlier this week, computer hardware giant Hewlett-Packard staked its claim in the 3-D printing market, with its first commercial 3-D printers anticipated in 2016.
- here is the release
- and coverage from Reuters and Barron's on what HP's 3-D printing entry means to Stratasys
Special Report: 3-D printing grows to scale within industry