As per Market Research Future (MRFR) analysis, the global 3D printing medical devices market is projected to grow at a CAGR of 18% from 2018 to 2023 (forecast period).
3D printing plays a vital role in the development of medical and dental devices. 3D printing is the most commonly used medical device and, due to its versatility, can also be used for other items, including food, household items, and automotive parts. The 3D printing technology is used to treat various types of therapies, such as hip and jaw titanium replacements, limb prosthetics and plastic tracheal splints, etc. Due to advanced technology and easy use of devices, many doctors prefer 3D printing devices before surgeries of any organ part that may minimize error. A computer-aided design drawing or a magnetic resonance image is a 3D object created from a digital 3D image. The 3D object is formed by creating successive layers of material in which each layer is connected to the previous layer until the object is complete. Various types of materials are used to create a 3D image.
Market Overview
3D printing functions an essential part of the medical and dental manufacturing sector and is the preferred choice of medical device manufacturers, for its cost-effective production of all types of medical devices such as the custom-made knee, hearing aids, hip implants, and prostheses.
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Global 3D printing medical devices market is anticipated to grow due to influential factors such as the increase in investment by the growing use of 3D printing device in the healthcare industry the governments towards the healthcare sector, rising technological advancements in 3D printing, and easy production of medical devices.
According to a report issued by Market Research Future (MRFR), the global 3D printing medical devices market has been assessed to grow at a CAGR of 18% during the forecast period from 2018 to 2023.
Segmental Analysis
The global market for 3D printing medical devices has been segmented into types, component, technology, application, end-users, and regions.
Based on types, the global 3D printing medical device market has been segmented into prosthetics & implants, surgical guides, surgical instruments, and tissue engineering product. The surgical guide segment has been assessed to account for the largest market share in the type segment over the forecast period, due to its advantage of providing accurate implant restoration, resulting in a rise in the demand for the surgical guide has been increasing, and this is a crucial factor driving the growth of this market segment.
Based on the component, the market for 3D printing medical devices has been segmented into the 3D bioprinter, 3D printer, materials, software & services, and system. Software & services segment is projected to account for the largest market share in the component segment over the forecast period, due to the increase in advancements in the software solutions for manufacturing high-quality 3D-printed medical products.
On the basis of technology, the 3D printing medical device market has been segmented into 3D printing, droplet deposition, electron beam melting (EBM), laminated object manufacturing (LOM), laser beam melting, photopolymerization, poly-jet technology, and others. Photopolymerization segment has been assessed to account for the largest market share in the technology segment over the forecast period.
Based on application, the global market for 3d printing medical device has been segmented into clinical study devices, external wearable devices, implants, and tissue engineering. The external wearable devices segment assessed to account for the largest market share in the application segment over the forecast period.
By end-users, the market has been segmented into academic institutions, contract research organization, hospitals, medical and surgical centers, and pharma and biotech companies. The medical and surgical centers segment has been assessed to account for the largest market share in the end-user segment over the forecast period, due to the increase in the patient population and decrease in surgical and infection risks.
Based on the region, the market has been segmented into the Americas, Europe, Asia Pacific, and the Middle East and Africa.
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Key Players
The key players identified in the global 3D printing medical devices market are 3D Systems Corporations, 3T RPD Ltd., Arcam AB, Bio3D Technologies, EnvisionTEC, Cyfuse Medical K.K.EOS GmbHConcept, Laser GmbH, Materialise NV, Organovo Holdings, Inc., Oxford Performance Materials, Inc., Renishaw plc, Prodways Group, Stratasys Ltd., and SLM Solutions Group AG.
Regional Analysis
North America has been expected to dominate the global 3D printing medical device market over the forecast period, due to the growth in the demand for organ transplant surgeries in the region, and the increase in investments made by the government towards the research and development of advanced 3D printing technologies.
Europe is the second-largest regional market for 3D printing medical devices, owing to favorable government investments, rise in research and development. Additionally, the changing lifestyles of consumers have led to an increase in patient population and number of surgeries, consequently contributing to the growth of the 3D printing medical device market in the region.
Asia-Pacific has been assessed to grow as the fastest-growing region in the 3D printing in healthcare industry through the forecast period, due to the growing prevalence of chronic diseases such as diabetes, blood pressure disorders among others, the increasing investments in the healthcare sector by the government, and increase in the geriatric population.
The Middle East & Africa region has been accounted for the comparatively smallest market share in the global 3D printing medical devices market owing to a healthcare sector that needs improvement, lack of medical knowledge, and inadequate medical facilities.
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