Indian 3D printing platform think3D, a subsidiary of Singapore-based think3D Labs Pte Ltd., has announced it will be establishing a $6 million 3D printing facility in Vizag, Andhra Pradesh, India. The center is being realized in collaboration with the Andhra Pradesh MedTech Zone (AMTZ), a special-purpose entity formed by the Indian government and the Andhra Pradesh provincial government with the goal of advancing medical device manufacturing in the country.
The $6 million facility is expected to enable India's medical device market (worth $5.5 billion and on the rise) to become more independent. Currently, nearly 75% of the market is made up of imported devices, a reality which hinders the country's economy and employment growth.
Part of the effort to increase medical device manufacturing in India is coming from MAKE IN INDIA, a government-led initiative aimed at promoting and expanding Indian design and manufacturing on the whole. Together with the government of Andhra Pradesh, MAKE IN INDIA has launched India's first medical technology manufacturing park and is encouraging local manufacturers to use its facilities with the support of subsidies.
At the park, one facility will be dedicated to 3D printing and 3D design. There, manufacturers in India will be able to benefit from state-of-the-art additive manufacturing equipment on a pay-per-use basis. This method will allow businesses to bypass large investments in equipment and their own manufacturing facilities without having to sacrifice high-end technologies.
"We realized the need to have mega industrial partners in AMTZ," says Dr. Jithendra Sharma, CEO of AMTZ. "They will support manufacturers in producing quality product at an industrial cost-effective scale."
think3D was chosen to help AMTZ set up and manage the 3D Printing & 3D Design facility after submitting a tender. Through the tender agreement, AMTZ will provide think3D with equipment through the facility on lease, while think3D will use its own expenses to manage the facility, offering services to customers at a subsidized rate (or at market rate for non-park customers).
The facility itself will span 20,000 square feet and will feature a number of metal, SLS, SLA, and bio 3D printers, as well as a reverse engineering facility and 3D design tools. "We are very excited to be part of AMTZ facility and contribute to the MAKE IN INDIA initiative," said Raja Sekhar Upputuri, co-founder of think3D. "A state-of-art 3D printing & 3D designing facility helps manufacturers bring innovative products into the market at a much faster pace. We look forward to see some great medical devices coming out of this park in years to come."
"think3D got selected in the tendering process by winning both technical and financial bids," added Nitin Bharadwaj, Vice President of Operations at AMTZ Ltd. "We believe think3D is a perfect partner for us to manage the 3D facility in the park. We were looking for one entity having expertise in 3D design, 3D scanning, and 3D printing fields and think3D fits the bill perfectly. We have seen various case studies they executed and are very excited about the value they bring to the park."
According to market intelligence solutions firm 6Wresearch, India's 3D printing market is expected to reach $62 million by the year 2022.
Media Source: 3ders