The global 3D printing medical devices market is expected to exceed US$ 1,700 Mn in revenues by 2022-end, according to a recent research by Fact.MR. The global 3D printing medical devices market is poised to exhibit a high double-digit CAGR during 2017 to 2022. Introduction of 3D-printed tablets has paved new opportunities for 3D-printing technology, increasing its application across the pharmaceutical industry. Numerous collaborations have been witnessed worldwide, between academic institutions and major players in the market, who are investing heavily in R&D activities. 3D-printing technology has been revolutionizing the preclinical drug testing, making the testing on 3D-printed organs convenient, thereby resulting into the provision of a substitute for animal testing. This technology is also making it easy for surgeons to improve the complicated procedures’ success rate. The aforementioned factors are expected to augment demand for 3D printing medical devices in the years to come.
Potential of 3D-printing in transforming medical devices’ use to treat various diseases is impacting the healthcare sector, enabling construction of non-implantable and implantable medical devices, and cost-effective customizable medical devices. Rise in demand for medical devices that match a patient’s anatomy in orthopedic, and maxillofacial surgery is favoring expansion of medical 3D-printing industry. Facilitating surgeons in planning surgeries, 3D printing medical devices help in lowering operative risks encountered during complex procedures, reduce duration of anesthesia exposure, decrease risk of infection, enable patients in recovering faster, and dramatically reduce time of hospital stay. These factors might further impact the market growth over the forecast period.
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6 Key Estimations for Future of 3D printing medical devices market
- Followed by tissue engineering, implants will continue to be the most lucrative application of the 3D-printing medical devices, in terms of revenues. Sale of 3D-printing medical devices for application in building external wearable devices is estimated to exhibit a comparatively lower CAGR through 2022.
- Software & services are anticipated to remain preferred among products in the global market. Revenues from software & services are expected to account for more than one-third share of the market throughout the forecast period. In addition, sales of 3D-printing materials will exhibit the highest CAGR through 2022.
- Photo polymerization is projected to remain the largest adopted technology in the global market for 3D-printing medical devices, followed by the laser beam melting technology. In addition, sales of electron beam melting technology, and three-dimensional printing technology are expected to exhibit a similar CAGR through 2022.
- On the basis of end-users, hospitals will remain dominant in the market, with sales poised to exceed revenues worth US$ 1,000 Mn by 2022-end.
- Asia-Pacific excluding Japan (APEJ) will emerge as the fastest expanding market for 3D-printing medical devices during the forecast period. In terms of revenues, North America is expected to be the most lucrative region for growth of the market.
- The report profiles key players operating in the market, which include Cyfuse Biomedical K.K., Stratasys Ltd., SLM Solutions Group AG, Renishaw plc, Groupe Gorgé SA, Organovo Holdings, Inc., Materialise NV, EnvisionTEC GmbH, General Electric Company, Carbon, Inc., Biomedical Modeling Inc., and 3D Systems Corporation.
Which product type dominates the 3D Printing Medical Devices Market during the assessment period of 2022-2032?
The software & services segment under product type holds nearly 1/3rd i.e. ~34.8% market share. Owing to the utility, cost-effectiveness, accuracy and uniformity offered by the software & services in medical devices, this segment is estimated to register a CAGR of 15.4% during the forecast years.
Which technology segment is estimated to account for largest market share in 3D Printing Medical Devices Market?
Based on technology, laser beam melting holds the largest market share of 27.8% and is projected to grow at a CAGR of 14.9% during the forecast years of 2022-2032. This is attributed to the augmented application of 3D printing in dental industry and for the manufacturing of implants for minimally invasive surgery.
Which application segment is expected to be the largest contributor in market share during the forecast period in 3D Printing Medical Devices Market?
The implants and tissue engineering segment under the application segment holds the largest 3D printing medical devices market share of 41.2% and 35.3% respectively. This is attributed to its large scale usage in the manufacturing of custom implants and prosthetics. They are made out of a range of materials such as ceramics, plastics, metals, biological materials etc.
The 3D printing customizable implants are attracting many medical devices companies making them purchase 3D printers, which is estimated to provide a gain of 430 BPS to the market in coming years. However, the external wearable devices are estimated to register a higher CAGR of 15.6% during the forecast years, as a rising trend towards health consciousness and using smart wearables to monitor daily activity.
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Competitive Landscape: Top Companies in 3D Printing Medical Devices Market
The global 3D printing medical devices market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.
Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the incorporation of advanced 3D printing medical devices.
Fact.MR has provided detailed information about price points of top manufacturers of 3D printing medical devices market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.
- Stratasys Ltd.in March 2021, introduced a J5 DentaJet 3D Poly Jet printer to be used by dental laboratories
- SLM Solutionspartnered with Canwell Medical in the year 2020. This partnership will allow Canwell Medical to use SLM machines to make 3D printed surgical implant products. Application and technical assistance along with research and developmental support will be provided to Canwell Medical taking a step towards serial production and product certification.
Global 3D Printing Medical Devices Market by Category
By Product Type, Global 3D Printing Medical Devices Market is segmented as:
- 3D Printers
- 3D Bio-Printers
- Software & Services
By Technology, Global 3D Printing Medical Devices Market is segmented as:
- Laser Beam Melting
- Photo Polymerization
- Three-Dimensional Printing
- Electron Beam Melting
- Droplet Deposition
By Application, Global 3D Printing Medical Devices Market is segmented as:
- Tissue Engineering
- External Wearable Devices
By End-User, Global 3D Printing Medical Devices Market is segmented as:
- Academic Institutes
- Contract Research Organizations
- Pharma and Biotech Companies
By Region, Global 3D Printing Medical Devices Market is segmented as:
- North America
- Latin America
- East Asia
- South Asia & Oceania
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