3D Printed Medical Devices Market size in 2019 is estimated to be $ 340 million, growing at a CAGR of 10% during the forecast period 2020-2025. 3D printing is a process to create three-dimensional medical devices with the help of computer-aided design. 3D printing plays a very crucial role when it comes to medical and dental device manufacturing. 3D printings are most widely used Medical devices and can also be used for other products, including food, household items, and automotive parts owing to its capabilities. Rising prevalence of osteoarthritis and technological advancement are the major factors driving the growth of the market. Moreover, rising disposable income and advancement of R&D activities further enhance the overall market demand for 3D printing medical devices during the forecast period 2020-2025.
3D Printing Medical Devices Market Segment Analysis – Technology
Based on the Technology, 3D Printed Medical Devices Market is segmented into Electron Beam Melting, Laser Beam Melting, Photopolymerization, Droplet Deposition, 3D Printing, Others. The Photopolymerization segment is forecast to be the fastest-growing segment and is projected to grow at a CAGR of 9.3% during the forecast period 2020-2025. Photopolymerization is a special form of free-radical polymerization where light is used to initiate polymerization. Moreover, it provides high resolution and allows printing the most complex with various physical properties are contributing to the growth of this segment.
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3D Printing Medical Devices Market Segment Analysis – By Product
Based on the Product, 3D Printed Medical Devices Market is segmented into Surgical Guides, Implants, Equipment, Others. In 2019, surgical guides held the largest share in the 3D Printed Medical Devices Market. This is mainly owing to shorter treatment times, less invasive, Less post-operative strain which are contributing to the growth of this segment.
3D Printing Medical Devices Market Segment Analysis – Geography
North America dominated the Market share accounting for 40% of the market in 2019. This is mainly owing to rising technological advancement and rapidly expanding customer base. Moreover, increasing investment made by the government to develop advances 3D Printing technologies and applications are some factors driving the growth of this region.
However, the Asia Pacific region is projected to be the fastest-growing during the forecast period 2020-2025. This is owing to increasing disposable income and increasing healthcare expenditure.
3D Printed Medical Devices Market Drivers
Rising Prevalence of Osteoarthritis
High prevalence of periodontitis, diabetes-related gangrene, osteoarthritis, bone-dental diseases, and peripheral vascular disease and increasing number of accidents are some factors driving the market growth of this segment. According to National Highway Traffic Safety Administration, about 10,511 deaths were registered in the U.S. in 2018 which are increasing the market growth of 3D printed medical devices.
Technological advancement helps to focus on developing new 3D-printed products which increases the demand for 3D printing in the healthcare industry some factor driving the growth of the market. Moreover, increasing research and development activities helps to develop new treatments for multiple diseases are contributing to the growth of 3D Printed Medical Devices Market.
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3D Printed Medical Devices Market Challenges
Lack of skilled professional and stringent government regulations are challenging the growth of the market. Moreover, increasing Biocompatibility issues related to 3D printed medical devices are further restraining its market growth during the forecast period 2020-2025.
3D Printed Medical Devices Industry Outlook
Product launches, Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players in the 3D Printed Medical Devices Market. 3D Printed Medical Devices top 10 companies are 3D Systems Corporation, EnvisionTEC, Stratasys Ltd., Arcam AB, Cyfuse Biomedical, Materialise NV, Stratasys Ltd., EOS GmbH, FabRx Ltd., Concept Laser, SLM Solutions, and Oxford Performance Materials, Inc.
On February 202020, Stratasys Ltd. launches J826 3D printer which is designed to develop advance medical equipment with exceptional print quality.
On April 2019, Renishaw has collaboration with Yorkshire Dental Laboratory to digitize the designing and production of removable partial dentures which is used to achieve more quickly.
In 2019, North America dominates the 3D Printed Medical Devices Market owing to rising technological advancement and rapidly expanding customer base.
Rising prevalence of osteoarthritis and technological advancement is driving the market growth of 3D printed medical devices.
Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the 3D Printed Medical Devices Market report.
Lack of skilled professional and stringent government regulations are challenging the growth of the market.
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