3D Printing Medical Devices Market is expected to grow at a CAGR of 14.5% by 2032 | Fact.MR Report
According to a recently published Fact.MR report, the global 3D Printing Medical Devices market is projected to grow at a compound annual rate (CAGR) of 14.5% between 2022 and 2032. The market is expected to reach US$ 11.5 Bn by the end of 2032.
The demand for 3D Printing Medical Devices is expected to rise over the forecast period and the market is projected to gain a global market size worth of US$ 2.9 Bn by the end of 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.
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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.
3D Printed Tablets Creating More Avenues for Growth
The introduction of 3D printed tablets has witnessed enhanced application in the pharmaceutical industry, creating further growth and revenue opportunities in the 3D printing medical devices market. Collaborations between leading market players and academic institutions are witnessed worldwide, thereby investing in research and developmental activities, supporting market growth by 1.3X.
However, high pricing of printers, lack of structured regulation, limited technical expertise, unfavorable reimbursement policies, and biocompatibility issues that pertain to 3D printed medical devices are expected to hinder market growth by 0.5X in coming years.
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Key Segments Covered in the 3D Printing Medical Devices Industry Survey
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
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 Solutions partnered 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.
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Key players in the 3D Printing Medical Devices Market
- 3D Systems Corporation
- Biomedical Modeling Inc.
- Carbon, Inc.
- General Electric Company
- Envision TEC GmbH
- Materialise NV
- Organovo Holdings, Inc.
- Groupe Gorge SA
- Renishaw Plc
- SLM Solutions Group AG
Key Takeaways from the Market Study
- 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.
Explore Fact.MR’s Coverage on the Healthcare Domain –
Dental 3D Printing Market: Dental technicians and clinicians are progressively turning receptive to digital dentistry, which is opening lucrative avenues for manufacturers of 3D printers to progress with a customised, rather than standardised approach in the dental 3D printing market. Development of customized dental models such as bridges, crowns, implants, and dentures is offering better patient outcomes, and, in turn, boosting the reliance of dentists on printed prosthetics.
Medical Case Management Service Market: The global medical case management service market. The analysts have predicted the industry to expand at a stagnant CAGR of around 3.2% over the decade. The market valuation, which is expected to be US$ 4 Bn by the end of 2021 and is predicted to rise 1.3X by the end of decade.
Medical Flexible Packaging Market: The global medical flexible packaging market is estimated at USD 25.7 Billion in 2022 and is forecast to surpass USD 40.9 Billion by 2032, growing at a CAGR of 4.7% from 2022 to 2032. The global medical flexible packaging market accounts for ~30% of the global medical packaging market in 2022. The global medical flexible packaging market is estimated to have an absolute $ opportunity of USD 15.2 Billion during the forecast years of 2022-2032.
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