PUBLISHER: The Business Research Company | PRODUCT CODE: 1435254
PUBLISHER: The Business Research Company | PRODUCT CODE: 1435254
3D printed medical devices are artificial constructs designed to replace missing body parts or biological structures, crafted by layering successive materials based on a digital 3D model.
The primary categories of 3D printed medical devices include implants, surgical instruments, prosthetics, tissue engineering devices, and various others. 3D-printed implants, specifically, are medical implants produced using 3D printing technology, allowing for the creation of intricate geometries. These implants utilize raw materials such as plastics, biomaterial inks, metals, and alloys. The technologies employed in 3D printed medical devices encompass fused deposition modeling, digital light processing, stereolithography, and selective laser melting. These technologies find applications in orthopedic, spinal, dental, hearing aids, and other medical fields, catering to end-users such as hospitals, diagnostics centers, academic institutions, and others.
The 3D printed medical devices market research report is one of a series of new reports from The Business Research Company that provides 3D printed medical devices market statistics, including 3D printed medical devices industry global market size, regional shares, competitors with a 3D printed medical devices market share, detailed 3D printed medical devices market segments, market trends and opportunities, and any further data you may need to thrive in the 3D printed medical devices industry. This 3D printed medical devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The 3d printed medical devices market size has grown exponentially in recent years. It will grow from $3.57 billion in 2023 to $4.44 billion in 2024 at a compound annual growth rate (CAGR) of 24.5%. The historical period's growth can be ascribed to factors such as customization and personalization, regulatory approvals and standards, an increase in demand for patient-specific solutions, collaborations and partnerships, as well as cost-efficiency and time savings.
The 3d printed medical devices market size is expected to see exponential growth in the next few years. It will grow to $12.01 billion in 2028 at a compound annual growth rate (CAGR) of 28.2%. The anticipated growth in the forecast period can be linked to factors such as increased accessibility and affordability, the widespread adoption of 3D printing in healthcare, integration of remote healthcare and telemedicine, a focus on sustainable and eco-friendly practices, and innovations in biocompatible materials. Key trends expected in the forecast period encompass regulatory adaptation to technological advances, the integration of artificial intelligence, advancements in 3D printing technology, point-of-care printing, as well as the incorporation of remote printing and telemedicine.
The growth of the 3D printed medical devices market is significantly driven by the increasing prevalence of osteoarthritis and similar musculoskeletal conditions. Osteoarthritis, a condition that damages joint cartilage and surrounding tissues, resulting in pain, stiffness, and loss of joint function, is a major contributor. 3D printing medical devices play a crucial role by allowing the creation of a replica of a patient's joint, providing surgeons with vital information not visible on 2-dimensional scans. As age increases, the likelihood of developing osteoarthritis rises, with an estimated 78 million (26%) US adults aged 18 and above projected to have doctor-diagnosed arthritis by 2040, according to the US National Library of Medicine. This projection is anticipated to drive the adoption of 3D printed medical devices, positively influencing market growth.
The anticipated growth of the 3D printed medical device market is also attributed to the rising prevalence of cardiovascular diseases. Cardiovascular diseases encompass a range of conditions affecting the heart and blood vessels. 3D printed medical devices are utilized in cardiovascular diseases for creating patient-specific cardiac models based on medical imaging data. The National Library of Medicine reports that by 2035, 45.1% of the US population is projected to have some form of cardiovascular disease, with total costs expected to reach $1.1 trillion in 2035. Additionally, the World Heart Federation notes that deaths from cardiovascular diseases were 20.5 million in 2021. The increasing prevalence of cardiovascular diseases is thus a driving force behind the growth of the 3D printed medical device market.
The market faces restrictions due to biocompatibility issues associated with 3D printed medical devices. Biocompatibility is essential for ensuring that materials or devices used are compatible with the human body. Incompatibility may lead to side effects such as abnormal bone growth and bleeding. While titanium is a commonly used metal in manufacturing 3D printed medical devices due to its reliability, accuracy, and medical-grade properties, some individuals may experience rejection due to its chemical composition inhibiting interaction with bone and tissue. Furthermore, the failure of metallic implants can be attributed to factors such as the material properties of the metal, such as high stiffness, corrosion rate, and toxicity, or exposure of the bone to infected metal implants.
The latest trend in the 3D printing medical devices market is the increasing use of 3D printing technology in the spine industry. The adoption of 3D printing in the spine industry aims to produce innovative products promoting bone ingrowth and improving implant fixation to spine bone. Medtronic's TiONIC Technology and K2M's Lamellar are examples of such advancements. These technologies use 3D printing methods to create implants with enhanced surface textures, fostering bone growth activity. The adoption of 3D printing in the spine industry streamlines the manufacturing process, making it more cost-effective.
Major companies in the 3D printed medical devices market are actively innovating new products to enhance customer services. TrueDent, a multi-color 3D printed medical device designed for denture solutions, is one such innovation launched by Stratasys Ltd. in February 2022. This FDA-approved device simplifies the 3D printing process for permanent dentures and temporary crowns and bridges, reducing costs and allowing for faster production.
In February 2021, Desktop Metal Inc. acquired EnvisionTEC, a move aimed at expanding distribution networks and increasing geographic sales capabilities in the medical, dental, and jewelry industries. EnvisionTEC specializes in high-quality 3D printed medical devices and solutions.
Major companies operating in the 3d printed medical devices market report are Siemens AG, General Electric Company, Arcam AB, Hewlett Packard Development Company LP, Adobe Inc., Dassault Systemes SE, Phidias Technologies, Ansys Inc., Bio3D Technologies Pte Ltd., Renishaw PLC, Stratasys Ltd., Concept Laser GmbH, 3D Systems Corporation, Protolabs Inc., Materialise NV, Groupe Gorge SA, SLM Solutions Group AG, Carbon Inc., Formlabs Inc., ExOne Company, Envision TEC Inc., Nano Dimension Ltd., Cyfuse Biomedical K.K., EOS GmbH Electro Optical Systems, Oxford Performance Materials Inc., FabRx Ltd., Organovo Holdings Inc., Laser GmbH, 3T RPD Ltd.
North America was the largest region in the 3D printed medical devices market in 2023. Western Europe was the second largest region in the global 3D printed medical devices market report. The regions covered in the 3d printed medical devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the 3d printed medical devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The 3D printed medical devices market consists of sales of 3D printed prosthetics and implants. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
3D Printed Medical Devices Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on 3d printed medical devices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for 3d printed medical devices ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The 3d printed medical devices market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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