Growth Trajectory Of The 3D Printed Medical Devices Market 2023-2032
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The global 3D printed medical devices market is expected to grow from $2.87 billion in 2022 to $3.57 billion in 2023 at a compound annual growth rate (CAGR) of 24.5%. The 3d printed medical devices market is expected to grow to $9.09 billion in 2027 at a CAGR of 26.3%.
North America held the largest 3D printed medical devices market share.
3D Printed Medical Devices Market Driver
One of the primary factors driving the growth of the 3D printed medical devices market is the increasing frequency of osteoarthritis and other musculoskeletal diseases. Osteoarthritis is a condition that causes pain, stiffness, and loss of joint function by damaging the joint cartilage and surrounding tissues. 3D printing medical devices enable the fabrication of a duplicate of a patient’s joint, which can offer surgeons with critical information that a 2-dimensional scan may not provide. The likelihood of having osteoarthritis rises with age. According to the US National Library of Medicine, by 2040, it is expected that around 78 million (26%) of US adults aged 18 and above will have doctor-diagnosed arthritis. As a result, the usage of 3D printed medical equipment is increasing, favourably boosting market growth.
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Prominent 3D Printed Medical Devices Market Trend
One of the most recent trends in the 3D printing medical devices market is the increased usage of 3D printing technology in the spine sector. The spine industry is embracing 3D printing to create new novel products that can encourage bone ingrowth and better implant fixation to spine bone, lowering the number of manufacturing steps and, in certain circumstances, making the 3D printing process more cost-effective. Medtronic, for example, introduced TiONIC Technology, a titanium 3D printed platform. TiONIC Technology is a 3D printing technique that employs laser technologies to produce implants with improved surface textures. Artic-L is the company’s first implant developed with TiONIC Technology. The titanium implant is intended for use by surgeons during spine surgery. Furthermore, K2M’s Lamellar debuted their 3D Titanium Technology to produce a 3D spinal implant. The titanium 3D printing medical gadget employs an innovative 3D printing approach to construct structures that were previously believed unfeasible with traditional production techniques. The implants are made of titanium powder and are linked to bone development activity.
3D Printed Medical Devices Market Prominent Players
Major players in the 3D printed medical devices market are 3D Systems Corporation, EnvisionTEC, Stratasys Ltd., Arcam AB, Cyfuse Biomedical, Materialise NV, Organovo Holdings, EOS GmbH, FabRx Ltd., and Concept Laser.
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Key 3D Printed Medical Devices Market Segments
The global 3D printed medical devices market is segmented –
1) By Type: Implants, Surgical instruments, Prosthetics, Tissue engineering devices, Other Types
2) By Application: Orthopedic, Spinal, Dental, Hearing Aids, Other Applications
3) By Technology: Fused Deposition Modelling, Digital Light Processing, Stereolithography, Selective Laser melting
4) By Raw Material: Plastics, Biomaterial inks, Metals and Alloys
5) By End User: Hospitals, Diagnostics Centres, Academic Institutions, Other End Users
The 3D Printed Medical Devices Global Market Report 2023 provides a comprehensive overview on the 3D printed medical devices market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the 3D printed medical devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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