3D Printing Medical Devices Market - Global Industry Analysis

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3D printing has rapidly increased popularity over the past decade and has unlocked the abilities for customization in a variety of applications used in the medical field. With the use of bio-compatible and drug-contact materials, medical devices can be made that are perfectly suited for a particular individual. 3D printing technologies is a type of additive manufacturing and it can be changed interchangeably. In 3D printing technology, a three-dimensional object is created by constructing successive layers of raw material. In this technology, each previous layer is being attached with a new layer till the object is complete. Due to its flexibility, 3D printing allows making changes easily without the need to set up additional tools or equipment. 3D printing technology also permits manufacturers to create devices matched to a patient’s anatomy or devices with very complex internal structures. 3D printings have huge potential in medical devices and other products, including food, household items, and automotive parts due to its capabilities.

The 3D printing medical devices market is majorly driven by technological advancements in this field with growing funding for 3D printing medical devices market. Additionally, customized medical products are easy for development with the help of 3D printing. Growing applications of 3D printing in the healthcare industry are resulting in increased demand for the 3D printing medical devices market. Furthermore, 3D printing medical devices account for significant cost savings which contribute to the growth of the market. However, from last decade, the demand for organ transplant has grown along with reconfiguration of supply chain models of medical device manufacturers by population thus driving the growth of the market. On the other hand, the rigid regulatory approval process for 3D-printed medical devices may limit the market. In addition to the rigid regulatory approval process, high costs related with printers, biocompatibility problems associated with the 3D printed medical devices, copyright & patent infringement concerns, and less technical expertise are restraining the growth of the market. Direct digital manufacturing and expiry of key patents in the 3D printing industry are expected to present rewarding opportunities in the market in near future.

The 3D printing medical devices market is segmented on the basis of technology, application, component, end user, and region. On the basis of the component, the market is divided into systems, materials, and software and services. System segment is expected to witness the highest growth over the forecast period, owing to its increasing adoption rate and technological advancements in the system segment. On the basis of technology, the market is segmented into 3D printing, droplet deposition, laser beam melting, photopolymerization, laminated object manufacturing (LOM), electron beam melting (EBM), and others (ColorJet printing, MultiJet printing). From past decade, the droplet deposition is a trending technology in the market due to its miscellaneous healthcare applications, like increasing biomedical applications, high heat, and chemical endurance. On the basis of application, the market is segmented into clinical study devices, external wearable devices, implants, tissue engineering. On the basis of end-user, the market is segmented into medical and surgical centers, pharma and biotech companies, and academic institutions.

Globally, the demand for 3D printing medical devices is rising, with North America and Europe leading the way. North America dominates the 3D printing medical devices market owing to investments done to develop advanced 3D printing technologies & applications as well as increasing demand for organ transplants in this region and the developed healthcare infrastructure.

The Asia Pacific was the fastest growing market. New 3D printing research, training, education centers, and rising efforts by top market players are major factors contributing to the growth of the market in this region. Latin America is another key regional market and is expected to witness moderate growth in the coming years owing to rising healthcare infrastructure and raising awareness among the people. The Middle East and Africa region are anticipated to witness significant growth within the forecast period.

Some of the key players in 3D printing medical devices market include 3D Systems Corporation, EnvisionTec, Stratasys Ltd., Arcam AB, Organovo Holdings, Inc., Bio3D Technologies, Oxford Performance Materials Inc., Materialise NV, Cyfuse Biomedical K.K., SLM Solutions Group AG, among others.