3D Printing Medical Devices Market-Overview
The approval has risen incrementally due to the convenience and adaptability feature it offers, thus bolstering the global stake of 3D printing medical devices. Reports created by MRFR detail the developments in the industry that can be expected in the market through the forecast period.
The Global 3D Printing Medical Devices Market is expected to grow during the forecast period 2020–2027 at a CAGR approximately 29.9%.
The rise in hip and joint replacement surgeries requires implants that are a perfect fit, and this need is estimated to increase the 3D Printing Medical Devices Market in the near future. Moreover, the improved access to funding and cutting-edge technology of the devices is estimated to further promote the 3D printing medical devices market.
Segmental Analysis
The segmental assessment of the 3D printing medical devices market has been conducted based on components, technology, application, types, region, and end-users. The end-users, the 3D printing medical device market is segmented into academic institutions, medical and surgical centers, hospitals, pharma companies, biotech companies, and contract research organization. The regions included in the 3D printing medical devices market are North America, Europe, Asia Pacific, Africa, and the Middle East. The technology segment of the 3D printing medical device market consists of 3D printing, droplet deposition, laminated object manufacturing (LOM), laser beam melting, electron beam melting (EBM), photopolymerization, polyjet technology, and others. The application segment of the 3D printing medical device market is segmented into clinical study devices, implants, external wearable devices, and tissue engineering. The types segment of the 3D printing medical device market consists of surgical guides, prosthetics implants, surgical instruments, and tissue engineering products. The component segment of the 3D printing medical device market is segmented into materials software services, system, 3D printer, and 3D bioprinter.
Detailed Regional Analysis
The regional review of the 3D printing medical device market includes regions such as North America, Europe, Asia Pacific, Africa, and the Middle East. The North American 3D printing medical device market controls the international market throughout the forecast period. The development of the North American regions is spurred by increasing demand for organ transplants across the region and the growing investing by the government towards developing advanced 3D printing technologies is a notable factor responsible for the augmentation of the market in this region. The European for 3D printing medical device market is powered by the government endowment and sponsorship of the healthcare sector combined with growing research and expansion. The Asia Pacific 3D printing medical device market is anticipated to be the fastest mounting 3D printing device market in the forecast period due to the intensifying investments in healthcare, growing occurrence of constant diseases, collective elderly inhabitants, and expansions by market companies in the region. The 3D printing medical device market in the Middle Eastern African regions is appraised to gain traction with improved implementation of technology in the region.
Competitive Analysis
The advancement of the market is spurred by the initiatives of the leaders in the global market, who are dedicating resources to the development of the overall market. The scale of innovation being observed in the market is another reason that is adding to the advancement of the global market in the future. The detrimental impact on the environment by the business practices is estimated to be a key component in the future growth strategies of the market. The funding scenario in the market is estimated to be optimistic and conducive to the development of the stakeholders in the market. The government policies in several regions are very conducive to the development of the market in the upcoming period. The advancement of production technology and processes is estimated to augment the global market. The establishment of clear long-term objectives by market titans is estimated to set the tone for the continuing expansion of the market. The identification of areas for sustainable enhancement in the supply chain is estimated to further fortify the market.
The prominent contenders in the 3D Printing Medical Device Market Companies are Stratasys Ltd., Bio3D Technologies, EnvisionTEC, Organovo Holdings, Inc., 3D Systems Corporations, Oxford Performance Materials, Inc., Materialise NV, Arcam AB, Cyfuse Medical K.K.EOS GmbH Concept, SLM Solutions Group AG, Laser GmbH, Renishaw plc, Prodways Group, 3T RPD Ltd.
Industry Updates:
Mar 2021 Heraeus Amloy, a metallurgy professional, is partnering with the University of Graz to 3D produce novel medical devices made of amorphous metals. The collaboration conducted as part of the Clinical Additive Manufacturing for Medical Applications (CAMed) project, the study will see the partners progressing and testing new alloy powders for end-use inserts and prostheses. The new 3D printed devices are likely to bring significant performance developments over prevailing ones made of steel or titanium.
Feb 2021 Apollo Hospitals Group and Anatomiz3D Medtech are working together to create Hospital 3D-printing labs in the Indian market, for 3D printed implants, that would allow doctors to visualize and print implants for complex cases. The laboratories will offer medical 3D printing services for improved healthcare, through the formation of anatomical models for patient-specific cutting and drilling directors, pre-surgical planning and training, and customized implants and implant molds.
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