3D printers have helped change the manufacturing process by allowing individuals to innovate at home at lower costs and without the need for big factories or hundreds of thousands of dollars. You can make almost anything with a 3D printer as long as you have some sort of software to design the product, some filament, and a 3D printer. There isn’t even that much time needed for a print, with the average lasting less than 24 hrs. You don’t need to have a business to use a 3D printer, you can buy a pretty good one for a couple hundred dollars. You can make a perfect solution to broken handles or missing bike parts at home and even create art pieces. With the ability to make any part with any dimensions or specifics, you don’t need to order it online and wait weeks for it to arrive. Businesses have fewer barriers to entering specific markets, like custom bike pieces, baking materials, etc.… There isn’t the need to set up a big factory with expensive machines and staff, as smaller businesses could rather specialize in a specific area and print their products at home. Due to fewer barriers to entry, there has been a lot more innovation. 3D printing has been used to build and prototype cars, mechanical parts, and within the aviation industry. You can 3D print a house out of concrete or other specific materials, 3D printers don’t just print plastic anymore. The medical and healthcare industry has greatly benefited from 3D printing as they can create specific parts for each individual application, like prosthetics, dental appliances, and medical instruments. Recently, 3D printing has even innovated so far to be able to print issue, cells, and organs. All of this reduces the need for big companies and allows more unique products to be more readily available and affordable for consumers.
Everyday economics from the University of Puget Sound