Global 3D printing medical devices market to register a staggering CAGR of 14.4% expansion throughout the forecast period 2017 to 2022. Sales of 3D printing medical devices are poised to account for revenues over US$ 1,700 Mn by 2022-end.
3D-printing is a form of additive manufacturing. Medical devices built by utilising 3d-printing technology enable perfect match to patients’ anatomy. 3D printing medical devices have extremely complex internal structures.
Flexibility of 3D printing enable medical device designers in easily making changes, eliminating the requirement of tools, or, setting up additional equipment. Some examples of 3D printing medical devices are cranial and orthopedic implants, dental restorations, external prosthetics, and surgical instruments.
3D printing has the potential to make transformations in utilization of medical devices for treatment of patients. 3D printing technology is impacting the healthcare sector by helping in building non-implantable as well as implantable medical devices, coupled with cost-effective customizable devices. The medical 3D printing industry is being highly influenced by surging demand for patient-specific devices in maxillofacial surgery and orthopedics.
3D printing medical devices are enabling surgeons in planning surgeries, which in turn lower the operative risks faced during complex procedures, decrease duration of anesthesia exposure, and risk of infection. This further enables patients in recovering faster, and reducing the duration of hospital stay.
These factors might impact growth of the global 3D printing medical devices market. 3D printing technology is facilitating surgeons in improving the rate of success in complicated procedures. In addition, this technology is revolutionizing preclinical drug testing by making testing convenient on 3D-printed organs, an alternative to testing of animals.
The advent of 3D-printed tablets has created new avenues for 3D printing technology, enhancing its application in the pharmaceutical industry. A number of collaborations are being witnessed between leading market players and academic institutions across the globe, investing extensively in research and development activities, which in turn is further influencing the market growth.
However, factors such as lack of structured regulatory framework, high prices of printers, unfavorable reimbursement policies, limited technical expertise, biocompatibility issues pertaining to 3D-printed medical devices, and concerns related to copyright and patent infringement are expected to hinder the market growth in the near future.
A new report by Fact.MR projects the
Software & Services to be Sought-After among Products
Software & services are expected to be sought-after among products in the market, accounting for over one-third revenue share of the market during 2017 to 2022. However, sales of 3D printing materials will register the fastest expansion through 2022. Hospitals are expected to be the most attractive end-users of 3D printing medical devices, with sales expected to surpass US$ 1,000 Mn in revenues by 2022-end. Revenues from sales of 3D printing medical devices in hospitals will account for more than half share of the market during the forecast period.
In terms of revenues, implants are anticipated to remain the largest application of 3D printing medical devices, followed by tissue engineering. 3D printing medical devices sales for application in external wearable devices will exhibit a relatively lower CAGR through 2022. Photo polymerization will remain the most lucrative technology for 3D printing medical devices, followed by laser beam melting. In addition, three-dimensional printing technology, and electron beam melting technology are expected to register a parallel expansion through 2022.
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Key market players profiled in the report include
- Biomedical Modeling Inc.
- Carbon Inc.
- General Electric Company
- EnvisionTEC GmbH
- Materialise NV
- Organovo Holdings Inc.
- Groupe Gorgé SA
- Renishaw plc
- SLM Solutions Group AG
- Stratasys Ltd.
- Cyfuse Biomedical K.K.
(Additional information, including cross-sectional data and country-wise analysis & forecast is available in the report)
Although North America is expected to dominate the global 3D printing medical devices market, sales of these devices in Asia-Pacific excluding Japan (APEJ) will exhibit the highest CAGR through 2022. Europe will continue to be the second largest market for 3D printing medical devices, in terms of revenues.
Factors such as soaring demand for patient-specific medical devices in maxillofacial surgery and orthopedics, advancements in 3D-printing technology, and government funding are expected to influence growth of the global 3D printing medical devices market. This Fact.MR report analyzes the expansion of global 3D printing medical devices market till date, and provides key insights on the growth of the market during the forecast period, 2017-2022.
The scope of Fact.MR’s report is to analyze the global 3D printing medical devices market for the forecast period 2017-2022 and provide readers an unbiased and accurate analysis. Medical device manufacturers, research institutes, and raw material suppliers in the global 3D printing medical devices market can benefit from the analysis offered in this report. This report offers a comprehensive analysis, which can be of interest to leading trade magazines and medical journals pertaining to 3D-printing medical devices.
The report commences with a brief information of the global 3D printing medical devices market. This executive summary sets the tone for the rest of the report, providing users the scope of the report. The executive summary includes important facts and statistics on the global 3D printing medical devices market.
The next section offers an overview of the global 3D printing medical devices market. This comprises an introduction to the market, along with a standard definition of the product – 3D printing medical devices. In this section, market value and year-over-year growth is offered to the readers. Year-over-year growth provides readers with a broader view of growth patterns over the forecast period.
The report’s succeeding section focuses on drivers, restraints and key trends from macroeconomic, demand, and supply perspectives. Impact analysis of weighted average model-based growth drivers is contained in the report for better provision of decision-making insights to clients.
In order to offer readers with up-to-date information about the latest advancements in the global 3D printing medical devices market, the report provides updates about market opportunities, which can benefit leading manufacturers of 3D printing medical devices. With continuous evolution of the healthcare sector, keeping a record of latest developments and trends is fundamental for 3D printing medical devices manufacturers to formulate key business strategies. Detailed insights about raw material sourcing, supply chain, regulatory approvals, pricing analysis, list of distributors, and cost structure are provided in this section.
The Fact.MR’s report offers segment-wise forecast and analysis for covering the broad scope of global 3D printing medical devices market. The market has been segmented on the basis of product type, application, technology, end-user, and region. In this segmentation analysis, a detailed country-wise forecast has been provided across all key market parameters.
The report’s last section comprises of the global 3D printing medical devices market competitive landscape, to provide readers with the dashboard view of company analysis and market players. This competitive intelligence is based on the providers’ categories across value chain, and their presence in the global 3D-printing medical devices market.
Fact.MR is committed to offer unbiased and independent market research solutions to its clients. Each market report of Fact.MR is compiled after months of exhaustive research. We bank on a mix of tried-and-tested and innovative research methodologies to offer the most comprehensive and accurate information. Our main sources of research include,
- Primary research
- Secondary research
- Trade research
- Focused interviews
- Social media analysis
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