USA: +1 347 690-0211 | UK: +44 2032 894158 | Translate :
[191+ Pages Report] As per the latest research and survey report issued by Facts and Factors, the global 3D printed medical devices market was valued at around USD 1.9 Billion in 2020 and is expected to register revenues worth USD 4 Billion by the end of 2026, growing at an exceptional CAGR of approximately 17% between 2021 and 2026.
3D printed medical devices are devices that mimic the use and application of traditional medical devices built using a 3D printed manufacturing process. 3D printing refers to creating a structure using a digital file using layers of specialized ink. A 3D printer fuses together the final shape and texture of the medical device using data read from the digital file, design, and size. Initially, this technology was limited to building prosthetics and implants in the medical industry, however, with an increase in technological developments human tissue and components can also be recreated with near-perfect functionality.
The recent technological boom in 3D printed medical devices is responsible for the sudden surge in the market. Orthopedic and dental industries have gained the most advantage by custom-built 3D structures which can be used for replacement purposes organically. Additionally, these structures allow for a long-lasting and better fit than traditional ceramic-based implants. With the advent of technological leaps made in 3D printing and material utilization, a variety of implants and devices can be concocted using this technology. The use of computer-aided manufacturing software and an optimal price will further open opportunities for the 3D printed medical device market to grow during the forecast period.
An increase in personalized surgeries for relief and aesthetic purposes will further drive the market value for 3D printed medical device market. Furthermore, the advent of customizable medical products with constant product changes will drive market growth in a positive manner. Additionally, these products possess a far fewer operative risks as compared to traditional counterparts as they reduce risks of infections and decrease the aftereffects of long-term anesthesia. 3D printed medical implants can often be used as a guinea pig for drug trials as an alternative to animal testing. However, the high cost related to these devices and the lack of technical knowledge will hamper the growth of the market to a certain extent.
The global 3D printed medical devices market can be segmented on the basis of component, type, technology, end-user, and regions.
On the basis of components, the 3D printed medical devices market can be divided into software & services, 3D printers & 3D bioprinters, material, and others. The material segment can be further bifurcated into plastics, biomaterials, metals & alloys. The software and services segment accounts for the largest market share in terms of revenue generation owing to an increase of advent in technological advancements for the production of higher quality 3D printed medical devices. On the basis of type, the 3D printed medical devices market can be divided into surgical guides, dental guides, craniomaxillofacial guides, orthopedic guides, surgical instruments, and retractors. Surgical guides are expected to witness the highest market share during the forecast period owing to improved accuracy of 3D printed medical devices over their traditional counterparts and accurate implant restoration abilities. On the basis of technology, the 3D printed medical devices market can be divided into laser beam melting (LBM) technology, electronic beam melting (EMB) technology, selective layer sintering (SLS), photopolymerization, selective laser melting (SLM), fused deposition modeling (FDM) and direct metal laser sintering (DMLS). Photopolymerization is expected to witness the highest market share during the forecast period owing to an exponential growth of technology across the medical sector in terms of processing similar applications. On the basis of end-users, the 3D printed medical devices market can be divided into medical & surgical centers, pharmaceutical and biotechnological companies, and academic institutions.
The region of Asia-Pacific is expected to witness the largest market share during the forecast period. Certain factors owing to a high rise in revenue generation in the 3D printed market, increased workforce of technical and skilled workers in the field, implementation of new 3D printing research centers, and establishment of reliable vendors in the region will further push the growth of the market in the region. An increased need of the application for 3D printed medical parts and implants for the growing population will further open opportunities for the 3D printed medical devices market to flourish. The region of North America is expected to occupy a huge market share on a global scale owing to increased technological advancements and developmental activities in the region.
The major players in the 3D printed medical devices market are Stratasys Ltd., 3D Systems Corporation, Materialise NV, Concept Laser GmbH, Arcam AB, Biomedical Modelling, Inc., Organovo Holdings, Inc., Renishaw Plc, 3T RPD Ltd., Prodways Groups, EOS GmbH Electro Optical Systems, and Envisiontec GmbH, among others.
Copyright © 2022 - 2023, All Rights Reserved, Facts and Factors