3D Printing Medical Devices Market Analysis:
The 3D Printing Medical Devices market is projected to reach USD 5.1 billion by 2026 from USD 2.4 billion in 2021, at a CAGR of 16.3% during the forecast period. according to a new report by MarketsandMarkets™. 3D printing medical devices are becoming increasingly popular in the medical device industry due to their cost-effectiveness, accuracy, and customization. As the market continues to grow, it is likely that 3D printing will become even more widely used in the medical device industry.
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3D printing has become increasingly popular in the medical device industry. 3D printing allows for the rapid production of medical devices with near-perfect precision. This technology can be used to create complex medical devices that are customized to a patient's specific needs. 3D printing also provides a cost-effective solution for producing medical devices, reducing both the cost of production and the time it takes to create a device.
The 3D printing medical device market is expected to experience strong growth in the coming years. This growth is being driven by several factors, including the increasing demand for custom-made medical devices and the cost benefits associated with 3D printing. Additionally, the increased use of 3D printing in the medical device industry has allowed for the fast and efficient production of medical devices.
Market Segmentation:
The MnM report provides an inclusive segmental analysis of the global 3D Printing Medical Devices market based on application and type.
Based on the component, the 3D Printing Medical Devices market is segmented into equipment, materials, and software & services. The equipment segment is further divided into 3D printers and 3D bioprinters. Among the components, the software & services segment held a major share of the market
Based on application, the market has been segmented into surgical guides, surgical instruments, standard prosthetics and implants, custom prosthetics and implants, tissue-engineered products, hearing aids, wearable medical devices/implantable medical devices, and other medical devices. Among these, custom prosthetics and implants sub-segment dominated the market . The major share of the segment is attributed to the growing number of orthopedic and CMF procedures.
Based on technology, the 3D Printing Medical Devices market has been segmented into electron beam melting (EBM), laser beam melting (LBM), photopolymerization, droplet deposition or extrusion-based technologies, three-dimensional printing (3DP) or adhesion bonding, and other technologies. Significant market growth and a large share of laser beam melting (LBM) segment can primarily be attributed to the availability of printer in desktop and production grade configurations to cater to hospitals, medical devices OEMS, and physician clinics
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Regional Analysis:
The 3D printing medical devices market is segmented into five major regions, such as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America held the largest market share due to the presence of prominent players in the region and the increasing demand for 3D printed medical devices. The advancements in 3D printing technology and increasing investments in R&D activities from government and private entities are likely to fuel the market growth in the region.
Europe is expected to hold the second-largest share in the global market due to rising demand for healthcare services and increasing investments in R&D activities.
The Asia Pacific is expected to be the fastest-growing region in the 3D printing medical devices market owing to the presence of a large population base and the increasing demand for medical devices. The increasing healthcare expenditure and the presence of several medical device manufacturers are likely to contribute to the market growth in the region.
Furthermore, the Latin American and Middle Eastern & African regions are expected to witness steady growth in the 3D printing medical devices market due to the presence of a large number of untapped opportunities.
Key Market Players:
Stratasys Ltd. (US & Israel), 3D Systems Corporation (US), GE Additive (US), Materialise NV (Belgium), Renishaw plc (UK), SLM Solutions Group AG (Germany), Desktop Metal, Inc. (US), Prodways Group (France), Carbon, Inc. (US), CELLINK (Sweden), Organovo Holdings, Inc. (US), EOS (Electro Optical Systems) GmbH (Germany), Biomedical Modeling, Inc. (US), Formlabs, Inc. (US), 3T Additive Manufacturing Ltd. (UK), DENTSPLY Sirona, Inc. (US), DWS Systems SRL (Italy), Roland DG (Japan), HP, Inc. (US), and regenHU (Switzerland)
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