A study by Market Research Future (MRFR) reports that the global 3D
printing medical devices market is likely to witness exponential growth
over the forecast period 2018 to 2023. The market is likely to expand at
an approximate CAGR of 18% over the forecast period.
In dental and medical device manufacturing, 3D printing medical
devices has a critical role to play. Apart from the healthcare industry,
3D printing medical devices find wide application in other sectors as
well that include automotive parts, food, and household items. Several
therapies also make use of the 3D printing technology which includes the
formation of limb prosthetics, plastic tracheal splints, titanium
alternatives for hips & jaws etc. Owing to the simplified usage of
the devices and progressive technology many doctors opt for 3D printing
devices before conducting surgery of any part of the body. 3D printing
medical devices help in eliminating errors in such cases.
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Growth in the worldwide 3d printing medical device companies
is likely to propel at an increasing rate owing to the progressive
technology, surging government spending in healthcare sector, increasing
usage of 3D printing medical devices in the healthcare sector, and the
simplified process of manufacturing the 3D printing medical devices. The
cost effectiveness of the 3D printing medical device makes it popular
amongst major medical device manufacturers. They use it in manufacturing
prostheses, custom made knee, hip implant, and hearing aids. The 3D
printing medical devices market has the potential to grow exponentially
due to the constant technological upgradations taking place in the
industry, fast paced customer base, investment in research and
development, and growing scope for biomedical application options.
However, the high-priced printers, restricted technical skills in
medical devices, biocompatibility concerns related to 3D printed medical
devices, and often unfavorable reimbursement policies are likely to
hinder the market growth substantially.
Segmentation:
MRFR’s take on the Global 3D Printing Medical Devices Market has its
foundation on the segments like component, types, application,
technology, and end-users. These segments have inclusion of various
insights regarding the market that can be explored well for strategies
of the coming years.
By type, the global market for 3D printing medical devices includes
prosthetics & implants, surgical instruments, surgical guides, and
tissue engineering product. The surgical guide segment has better market
coverage.
By component, the global market report for 3D printing medical
devices comprises system, 3D bio printer, materials software &
services, and 3D printer. The software & services segment has better
opportunities to cover the market on a greater way.
By technology, the market report for 3D Printing Medical Devices
forms a foundation by centering around droplet deposition, 3D printing,
laser beam melting, photopolymerization, laminated object manufacturing
(LOM), polyjet technology, electron beam melting (EBM), and others. The
photopolymerization segmentation is deemed to spearhead the global
market.
By application, the same market report covers clinical study devices,
external wearable devices, implants, and tissue engineering.
By end-users, the report on the global market for 3D Printing Medical
Device comprises academic institutions, medical & surgical centers,
pharma & biotech companies, hospitals, and contract research
organization.
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 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.
LIST OF TABLES
Table 1 Global 3D Printing Medical Devices Market Synopsis, 2020-2027
Table 2 Global 3D Printing Medical Devices Market Estimates and Forecast, 2020-2027 (USD Million)
Table 3 Global 3D Printing Medical Devices Market, by Region, 2020-2027 (USD Million)
Table 4 Global 3D Printing Medical Devices Market, by Types, 2020-2027 (USD Million)
Table 5 Global 3D Printing Medical Devices Market, by Components , 2020-2027 (USD Million)
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