3D printing medical devices offer diverse applications across healthcare. They are utilized in creating personalized implants, prosthetics, surgical instruments, and anatomical models for surgical planning and training. The technology allows for intricate designs, precise customization, and rapid prototyping, enhancing patient outcomes. 3D-printed medical devices are used in orthopaedics, dentistry, cardiology, and more, addressing unique patient needs. With its ability to optimize treatment plans, reduce surgical time, and improve patient care, 3D printing is revolutionizing the medical industry, making it a game-changer in personalized healthcare solutions.
According to Data Bridge Market Research, the Global 3D Printing Medical Devices Market is accounted at USD 2.40 billion n by 2021 and is expected to reach USD 9.47 billion by 2029. The market is expected to grow with a CAGR of 18.72% in the forecast period of 2022 to 2029.
“Increasing prevalence of surgical procedures boosts the market’s growth”
The 3D printing medical devices market experiences significant growth due to the increasing prevalence of surgical procedures. 3D printing enables the production of personalized, patient-specific medical devices, such as implants, prosthetics, and surgical instruments. This technology allows for better patient outcomes, reduced surgical times, and improved treatment efficacy. As the medical industry recognizes the potential of 3D printing to revolutionize healthcare, the demand for 3D printed medical devices rises, driving market growth and propelling advancements in medical technology.
What restraints the growth of the global 3D printing medical devices market?
“High cost associated with research and development (R&D) efforts restraints the market’s growth”
The 3D printing medical devices market's growth is restrained by the high cost associated with research and development (R&D) efforts. Developing and refining 3D printing technologies and medical devices require substantial investment in R&D, specialized equipment, and skilled personnel. These expenses can be a barrier for smaller companies to enter the market. Additionally, stringent regulatory requirements and lengthy approval processes further contribute to the high R&D costs, hindering the overall market expansion and innovation in the 3D printing medical devices sector.
Segmentation: Global 3D Printing Medical Devices Market
The global 3D printing medical devices market is segmented on the basis of product, technology, application, and end user.
- On the basis of product, the 3D printing medical devices market is segmented into equipment, materials, and services, and software.
- On the basis of technology, the 3D printing medical devices market is segmented into laser beam melting, photopolymerization, droplet deposition/extrusion-based technologies, electron beam melting, three-dimensional printing/adhesion bonding/binder jetting, and other technologies.
- On the basis of application, the 3D printing medical devices market is segmented into surgical guides, surgical instruments, standard prosthetics and implants, custom prosthetics and implants, tissue-engineered products, hearing aids, wearable medical devices and other applications.
- On the basis of end user, the 3D printing medical devices market is segmented into hospitals and surgical centers, dental and orthopedic clinics, academic institutions and research laboratories, pharma-biotech and medical device companies, and clinical research organizations.
Regional Insights: North America dominates the Global 3D Printing Medical Devices Market
North America dominates the 3D printing medical devices market due to the region's robust healthcare infrastructure and an increasing number of research activities. Advanced healthcare facilities and ongoing research initiatives foster the adoption of 3D printing technology for medical devices, driving innovation and expanding the market's reach in the region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to government initiatives promoting awareness, a surge in medical tourism, increasing research activities, and access to vast untapped markets. The large population pool and rising demand for quality healthcare further contribute to the market's growth and drive the adoption of 3D printing technology in the medical sector.
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Recent Development
- In September 2020, nTopology (US) has secured USD 40 million in funding to advance the development of its nTop software platform, focused on additive manufacturing processes. This substantial investment is expected to yield profitable returns in the long term, as the nTop software enhances the capabilities and efficiency of additive manufacturing, catering to the growing demand for advanced and innovative solutions in the additive manufacturing industry.
The Prominent Key Players Operating in the Global 3D Printing Medical Devices Market Include:
- Stratasys Ltd. (Israel)
- EnvisionTEC (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- 3D Systems, Inc. (U.S.)
- EOS (U.S.)
- Renishaw plc (U.K.)
- Materialise (Belgium)
- 3T Additive Manufacturing Ltd. (U.S.)
- GENERAL ELECTRIC COMPANY (U.S.)
- Carbon, Inc. (U.S.)
- Prodways Group (France)
- SLM Solutions (Germany)
- Organovo Holdings Inc. (U.S.)
- Anatomics Pty Ltd (Australia)
- Groupe Gorgé (France)
- Cyfuse Biomedical K.K. (Tokyo)
- FIT AG (Germany)
- Wacker Chemie AG (Germany)
Above are the key players covered in the report, to know about more and exhaustive list of global 3D printing medical devices market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global 3D Printing Medical Devices Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
