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Globally, the 3D Printing in Medical Devices Market is expected to expand at a significant CAGR over the next few years due to its growing scope and applications.Key factors such as rising demand for patient-specific products in maxillofacial and orthopedic surgery, growing scope of biomedical applications, and rising investments in the development of advanced 3D medical devices are expected to drive global market revenue growth during the forecast period.
Over years, 3D printing technology has made significant advancements in the healthcare and medical industry, leading to development of various 3D printed devices. 3D printing is rapidly gaining traction across the medical field and has the potential to steadily improve patient outcomes and revolutionize the way medical devices are manufactured and used. The flexibility of 3D printing allows manufacturers and designers to make changes hassle-free without the need for additional equipment and tools. It also allows manufacturers to create patient-specific devices, even with complex internal structures. Some of the common medical devices produced using 3D printing include orthopedic and cranial implants, dental restorations such as crowns, external prosthetics, surgical instruments, and retractors.
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Factors such as presence of large patient pool, increasing number of surgeries, improving healthcare infrastructure, and growing applications of 3D printing in medical devices are expected to surge global market growth between 2023 and 2028. In addition, various leading market players are heavily investing in research and development activities to develop 3D-printed medical devices for academic centers, research institutes, hospitals, and dental clinics.
However, factors such as high initial investments, shortage of skilled labor, inadequate infrastructure, and insufficient funds to deploy advanced technology are expected to hamper overall market growth during the forecast period.
Software and Services Segment To Register Rapid Revenue CAGR:
The software and services segment is expected to register rapid revenue CAGR between 2023 and 2028. This can be attributed to increasing adoption of 3D printing technology for medical devices, frequent need for advanced software and solutions, installation and maintenance services in hospitals, clinics, academic and research institutes, and rising investments in developing software solutions for manufacturing high-quality 3D printers.
Academic and Research Institutes Segment to Account for a Significantly Larger Revenue Share:
The academic and research institutes segment is expected to account for a significantly larger revenue share over the forecast period owing to rapid advancements in 3D printing, rising research on developing medical devices using 3D printing, and increasing public and private funding to expand 3D printing manufacturing capabilities.
North America to Lead In Terms of Revenue Share:
North America is expected to lead in terms of revenue share in the global market during the forecast period owing to factors such as rapid advancements in 3D printing and medical technology, high adoption of 3D printing in medical devices, and rising availability of advanced 3D printers. Moreover, presence of well-developed healthcare infrastructure and facilities, top manufacturers and skilled healthcare professionals, and rising investments in developing advanced 3D printing processing techniques are expected to drive North America market growth during the forecast period.
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3D Printing in Medical Devices Market By Company:
EOS GmbH Electro Optical Systems
Renishaw PLC
Stratasys Ltd.
3D Systems, Inc.
EnvisionTech, Inc.
Concept Laser GmbH (General Electric)
3T RPD Ltd.
Proadways Group
SLM Solution Group AG
CELLINK
Arcam
EOS GmbH
Materialise
3D Printing in Medical Devices Industry Recent Developments:
In July 2020, Nexa3D and Henkel announced the launch of a new medical-grade polymer 3D printing materials for making medical devices.
In June 2021, Stratasys Inc, announced the launch of All-in 1 J5 MediJet Medical 3D printer that can be used for developing highly detailed 3D anatomical models and drilling and cutting guides.
The global 3D printing in medical devices market has been segmented based on type, application, and region:
3D Printing in Medical Devices Market Segment by Type:
Software and Service
Equipment
Material
3D Printing in Medical Devices Market Segment by Application:
Hospitals and Surgical Centers
Dental and Orthopedic Centers
Medical Device Companies
Pharmaceutical and Biotechnology Companies
Academic and Research Institutes
Others
3D Printing in Medical Devices Market Segment by Region:
North America (USA, Canada, Mexico)
Europe (Germany, France, UK, Italy, Russia, Rest of Europe)
Asia Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia Pacific)
South America (Brazil, Argentina, Columbia, Rest of South America)
Middle East & Africa (Saudi Arabia, U.A.E, Egypt, Nigeria, South Africa, Rest of MEA)
Key Reasons to Purchase:
Estimates 2023 to 2028 3D printing in medical devices market current market trends and development trends
Market dynamics along with growth opportunities of the market in the years to come
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the 3D printing in medical devices market
Competitive landscape involving market share of the major players, new strategies and projects adopted by players in the last five years
Comprehensive company profiles covering product offerings, key financial information, SWOT analysis and strategies employed by major market players
Brief about impact of COVID-19 on the global 3D printing in medical devices market
Key Questions Addressed:
Who are the top 10 companies operating in the global 3D printing in medical devices market?
Which regional market is expected to register fastest revenue CAGR over the forecast period?
What are the outcomes of Porter’s Five Force analysis?
Based on application, which segment is expected to account for largest revenue share throughout the forecast period?
What revenue CAGR is the global 3D printing in medical devices market expected to reach between 2023 and 2028?
What are some key opportunities and risks that the vendors in the global market expected to face during the forecast period?
What key factors are expected to drive global market revenue growth during the forecast period?
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