3D Printing Medical Devices Market Overview
The global 3D printing medical devices market is expected to exhibit a robust 18% CAGR over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). The global 3D printing medical devices market is studied in great detail in the report, which includes a thorough analysis of the market’s historical trajectory as well as forecasts for the market’s growth over the forecast period from 2018 to 2023. The leading drivers and restraints affecting the global market are also studied in the report, giving readers a clear and comprehensive picture of the market’s growth prospects over the forecast period.
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3D printing medical devices has become a favored procedure in the healthcare industry due to the various benefits of the 3D printing process. With 3D printing, complicated shapes and parts can be easily produced, with little complication. Advancements in the field of CAD (computer-assisted design) have made 3D printing medical devices easy. This has driven the global 3D printing medical devices market, as widespread use has also led to a reduction in costs, making 3D printed medical devices easier to afford. With 3D printing, the amount of waste is also reduced, as the printing processes are precise and do not allow for the generation of much waste.
The growing number of geriatrics around the world is likely to be a major driver for the global 3D printing medical devices market. Geriatrics require numerous transplants, such as hip replacements and others, increasing the demand for 3D printed medical devices. The growing acceptance of 3D printed medical devices among geriatrics is likely to remain a major driver for the 3D printing medical devices market, as the geriatric demographic is likely to remain the major consumer of 3D printed medical devices. On the other hand, the high prices of 3D printers and unfavorable reimbursement policies are likely to be the major restraints on the global 3D printing medical devices market over the forecast period. The relative novelty of 3D printed medical devices is the key factor behind this phenomenon, and over time, these complications are likely to be smoothed over.
3D Printing Medical Devices Market Competitive Analysis:
Leading players in the global 3D printing medical devices market include 3T RPD Ltd., Prodways Group, Renishaw plc, Laser GmbH, EOS, Cyfuse Biomedical KK, Bio3D Technologies, Materialise NV, Oxford Performance Materials Inc., Organovo Holdings Inc., Arcam AB, EnvisionTEC, SLM Solutions Group AG, Stratasys Ltd., and 3D Systems Corporation.
Major players in the global 3D printing medical devices market are likely to focus on product development and refinement as the major strategy over the forecast period.
3D Printing Medical Devices Market Segmentation:
The global 3D printing medical devices market is segmented on the basis of types, component, technology, application, end use, and region.
By types, the global 3D printing medical devices market is segmented into surgical guides, surgical instruments, prosthetics and implants, and tissue engineering products. The surgical guides segment is likely to hold the largest share in the global 3D printing medical devices market over the forecast period.
By component, the global 3D printing medical devices market is segmented into system, materials software and services, 3D bioprinters, and 3D printers. The software and services segment is likely to dominate the global 3D printing medical devices market over the forecast period due to the imperative need for CAD and other design principles in 3D printing processes.
By technology, the global market is segmented into 3D printing, droplet deposition, photopolymerization, laser beam melting, electron beam melting, laminated object manufacturing, polyjet technology, and others. Photopolymerization is likely to hold the largest share in the global 3D printing medical devices market over the forecast period.
By application, the global 3D printing medical devices market is segmented into external wearable devices, clinical study devices, implants, and tissue engineering. The external wearable devices segment holds the largest share in the market.
By end use, the market is segmented into hospitals, medical and surgical centers, pharma and biotech companies, academic institutions, and contract research organizations.
3D Printing Medical Devices Market Regional Analysis:
The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The 3D Printing Device Market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada. The European 3D printing device market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The 3D printing device market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The biomaterial market in the Middle East & Africa has been segmented into the Middle East and Africa.
The Americas and Europe are likely to hold dominant shares in the global 3D printing medical devices market.
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