HOUSTON--(BUSINESS WIRE)--3D printing is quickly becoming a vital component in the healthcare and medical fields, a trend that has caught the eye of Changing Technologies, Inc. (OTCBB:CHGT) as it seeks to expand into new markets and open additional revenue streams.
Forecasts show 3D printing for medical applications will enjoy an impressive 15.4 percent compound annual growth rate (CAGR) over the rest of this decade. The market will increase to $965 million by 2019, up from $354 million in 2012.
“Healthcare and medical are areas that show tremendous future growth possibilities,” said CHGT CEO Marco Valenzuela. “We’ll continue to pursue all opportunities there as they offer solid revenue potential and a means to build shareholder value.”
Medical researchers have made great advances in using 3D printing technology. A company in the U.K. recently perfected a process to dramatically cut the cost of prosthetics, manufacturing a set of bionic hands for amputees using 3D printing.
Hospital-made prosthetics can cost $100,000. 3D printing can make prosthetic hands that are also lighter and more comfortable for the wearer for a fraction of that price. Currently, two million people in the U.S. are living without a limb and could benefit from a 3D-printed prosthetic. There are an additional 185,000 amputations in the U.S. each year.
For more information on CHGT, please visit www.changingtechno.com.
For more information on 6th Dimension Technologies, please visit http://www.6d3d.com.
About Changing Technologies, Inc.
Changing Technologies, Inc. (CHGT) is an emerging technology company focused on developing innovative concepts to bring to consumers. It recently created a new subsidiary — 6th Dimension Technologies — to pursue additional growth areas and market needs in the booming 3D printing sector. A forward-thinking company working to be at the forefront of the next generation of consumer-based technology, CHGT is positioning itself to leverage global demand for the latest technological advances and services the company offers. Changing Technologies, Inc. is in the cutting-edge technology sphere alongside companies like Voxelijet AG (VJET), Arcam AB (AMAVF), and ExOne Co. (XONE).
Notice Regarding Forward-Looking Statements
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