UCREST EXPANDS INTO AI DRIVEN 3D PRINTING IN HEALTHCARE
UCrest announced today that it has signed a collaborative agreement with Hangsukeji in China to jointly develop the Artificial Intelligence (AI) 3D printing business for the healthcare market in addition to the manufacturing industry. In this Agreement, the AI 3D printing products will carry the UCrest brand, Hangsu will be marketing the products, materials, and services in China while UCrest will be developing the market outside China.
The 3D printing market size globally was USD18.33 billion in 2022 and projected to be USD24.40 billion in 2023 to USD105.99 by 2030, expected to grow at CAGR of 24.9% during this period. The 3D printing in healthcare globally recorded USD2.6 billion in 2022 and projected to achieve USD6.5 billion in 2028, expected to grow at CAGR of 15.1% for the period of 2023 – 2028.
Hangsu (www.hangsukeji.com) is the leading 3D printing company in China that is capable of printing plastic, metallic, sandy, and biomaterials into various products. 3D printing technology is widely adopted in large manufacturers for quick turnaround of prototypes, highly customized and small volume production. The 3D printing products range from souvenirs, household products, automotive parts, medical devices, to the printing of modules of a house.
The use of 3D printing technology has been growing rapidly in the healthcare industry over the years where personalization and customization are required for each patient. It is common that dental clinics are equipped with 3D printer to print dental products, orthopaedics to print different kinds of bones and casting, and podiatric to print padding for the shoes or the entire pair of shoes. Research has been very active in bioprinting of human organs such as bladder, liver, heart, or kidney with biomaterials.
“As we continue to build the ecosystem of digital health, we have expanded into 3D printing of healthcare products with our Artificial Intelligence technology. Healthcare products such as medical devices, teeth, skin tissues, aesthetics, bones, and organs require very high precision manufacturing and customization, hence, 3D printing technology is ideal for such products,” said Eg Kah Yee, Chairman and CEO of UCrest Technology. “The AI 3D printing technology is going to be used for all other manufacturing products as well,” he added.
UCrest Berhad (Stock Code: 0005) is public listed on ACE Market of Bursa Malaysia, a leading developer of leading-edge digital health technology and provider of online healthcare service platform. iMedic, the digital health platform is powered by the integrated technologies of Artificial Intelligence, Internet of Medical Things (IOMT), Big Data and Blockchain. Headquartered in Malaysia, the Company has offices in China, India, Singapore and Taiwan.