As per our report, the global 3D printing medical devices market size is predicted to be growing at a CAGR of 30.46% from 2022 to 2027 and was worth USD 1930 million in 2022 and grow to USD 7296 Mn by 2027.
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Manufacturing facility Closures due to lockdowns and disrupted supply chains had a slight impact on the 3D Printing Medical Devices market’s regional growth in 2020. This is due to the severe interruptions their various manufacturing companies suffered during the pandemic era. Furthermore, in this pandemic era, people’s desire to cut non-essential spending limited the breadth of growth. Moreover, restrictions imposed on movement added to the difficulties. The market, on the other hand, has a bright future. With an expanding number of stakeholders interested in creating and designing 3D printed devices as a result of the COVID-19 epidemic, the demand for these devices has risen. As a result, regulators worldwide are striving to make sharing information regarding the usage of 3D printing and other advanced manufacturing technologies in the context of PPE (personal protective equipment) and other medical device parts easier. These initiatives are projected to propel the market for 3D printed medical devices forward in various portions of the globe. Established providers such as Stratasys Ltd contributed to meeting rising demand and alleviating significant shortages of nasopharyngeal swabs and face shields. Field-ready, individually packaged, sterile 3D-printed nasopharyngeal swabs and face shields were produced by the company.
MARKET DYNAMICS:
Increasing support for 3D printing initiatives from the public and private sectors is propelling the global 3D printing medical devices market.
A massive surge in public-private funding to assist various efforts in the 3D printing market has occurred in recent years. Such research and financing initiatives are projected to accelerate the development of 3D printing products and technologies, propelling the 3D printing medical devices market forward.
Manufacturing with direct digital technology is another key factor helping the market to register a better growth rate.
In recent years, the digitization of dentistry and medical operations has progressed significantly, intending to improve clinical workflow through technology. Digital dentistry and procedures are displacing traditional dentistry and surgeries. The process of making a physical object from a digital design utilizing computer-controlled techniques is known as direct digital manufacturing. It offers a unique set of advantages in that it eliminates the need for tooling, reduces the time between design and production, and increases output.
The shortage of a skilled workforce is a significant restraint on the global 3D printing medical devices market.
The absence of a competent workforce is one of the most significant impediments to adopting additive manufacturing or 3D printing. There is a relatively limited pool of familiar people with 3D printing procedures, exacerbated by the quick rate of technological and material change in the 3D printing medical devices market.
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KEY MARKET INSIGHTS:
- Based on the product, the global 3D printing medical devices market is divided into medical implants, prosthetics, tissue engineering, surgical instruments, surgical guides, and hearing & audibility aid. Due to the digital-driven procedure’s rising use to get proper implant placement, the surgical guides segment is predicted to develop at a faster CAGR over the forecast period. In addition, the growing importance of precise implant placement to get the best results and appropriate implant alignment will fuel the rise of surgical guides in the future years.
- The market is divided into plastics, biomaterials, metal & metal alloys, ceramics, nylon, and wax-based on the material. In 2021, plastics will have the highest market share. The widespread use of polymers like ABS filament for 3D printing worldwide leads to the material’s increased share of the 3D printed medical devices market. Furthermore, with the help of recycled plastics, the availability of raw materials is a cost-effective process.
- Based on technology, the market is divided into Laser Beam Melting, Electron Beam Melting, Droplet Deposition, Photopolymerization, Wax deposition Modelling, and Bioprinting. Because of the growing use of this technology in the medical industry, the Photopolymerization segment is expected to lead the market throughout the forecast period. Surgical guides, such as orthopedic, dental, and CMF guides, prosthetics and implants, porosity scaffolds, and dental restorations, are made by photopolymerization.
- Based on the region, Asia-Pacific is expected to develop at the fastest rate during the forecast period, owing to new 3D printing research and training centers to gain more technical competence in operating and maintaining 3D printers. Furthermore, the major market players are concentrating on expanding their distribution channels in growing economies such as India, China, and Japan, which will drive the demand for 3D printing medical devices in this area even higher. Furthermore, increased acceptance of 3D printed items and medical devices in China has helped the country establish a firm foothold in the 3D printed medical devices market.
- GENERAL ELECTRIC, Arcam AB, EOS GmbH Electro Optical Systems,3T RPD Ltd., Renishaw plc., Concept Laser GmbH, Materialise, ENVISIONTEC, INC., 3D Systems, Inc., Stratasys Ltd., Cyfuse Biomedical K.K., ORGANOVO HOLDINGS, INC., and others are some of the major players in the global 3D printing medical devices market.
RECENT MARKET DEVELOPMENTS:
- VSP Hybrid Guides, the latest addition to 3D Systems’ VSP surgical planning solutions offering, announced to be available from 2021. This first-to-market maxillofacial surgeon solution combines the strength of titanium with the relative softness of nylon in a single patient-specific guide with registration to the dentition for increased guide placement confidence and surgical site visibility.
- In 2021, Stratasys Ltd. released a new 3D printer that combines the efficiency of 3D printing with the realism and precision of PolyJet.
- Stratasys released a new mid-range 3D printer in 2020 for brilliant design and productivity.
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