3D Printing Medical Devices Market Growth and Innovations

Posted in Medical Devices by Adolf on Aug 14,2023 348

Traditional manufacturing techniques often involve multiple manufacturing steps, assembly processes, and the use of various components. In contrast, 3D printing can simplify the manufacturing process by producing complex medical devices as a single, consolidated part. This reduction in complexity can streamline supply chains, reduce production time, and minimize the risk of errors or failures associated with assembly processes. The development of new materials specifically designed for 3D printing has expanded the applications of 3D-printed medical devices.

Furthermore, biocompatible materials with suitable mechanical properties, such as bioresorbable polymers and specialized metal alloys, are now available for use in medical applications. These materials offer enhanced biocompatibility, durability, and integration with the human body, making them suitable for a wide range of medical devices.

The 3D Printing medical devices market is projected to reach US$ 6.9 billion in 2028 from US$ 2.7 billion in 2022 with a CAGR of 17.1% during the forecast period. In 2022, the Services & Software was projected to account for the highest share. This segment includes services such as tooling and parts production, rapid prototyping, software services, contract manufacturing of 3D-printed products, preclinical testing, system maintenance, creation of a 3D digital model using 3D software programs such as CAD or scanning software, and expert services for training programs.

With advancements in printing technology and materials, the 3D printing services sector is gaining significant traction. As 3D printing facilitates the easy manufacturing of products with complex geometries and offers competitive pricing compared to traditional manufacturing methods, pharma-biotech and medical device companies outsource every aspect of the process, from design to production

Based on application, the custom prosthetics and Implants segment reported the highest share among all of the 3D Printing medical devices market in 2022. Custom prosthetics and implants are designed and manufactured based on the individual patient's anatomy. This approach allows for a precise fit and better functionality, leading to improved patient comfort and outcomes. With advancements in 3D scanning and imaging technologies, it has become easier to capture accurate patient data, which can then be used to create personalized prosthetics and implants.

North America reported the largest share of 45.0% of the 3D Printing medical devices market in 2022. This highest share of North America is credited to the increased adoption of using advanced technologies and growing technological developments.

While APAC is expected to witness significant growth in the coming years. The 3D Printing medical devices market in the APAC region is expected to register a CAGR of 18.5% during the forecast period, primarily due to the growing number of hospitals in Asian countries due to modern amenities provided by healthcare and favourable government initiatives.

Regulatory bodies in the Asia Pacific region, such as China's National Medical Products Administration and Japan's Pharmaceuticals and Medical Devices Agency, have been actively working on guidelines and regulations for 3D-printed medical devices. The establishment of clear regulatory pathways ensures the safety and effectiveness of these devices, boosting the confidence of manufacturers, healthcare providers, and patients in adopting 3D printing technology.

The prominent player in 3D Printing medical devices market Stratasys Ltd. (Israel), EnvisionTEC (US), 3D Systems, Inc. (US), EOS (US), Renishaw plc (UK),GE additive(US),Desktop Metal,Inc(US), CELLINK(Sweden), Formalabs(US), , Materialise (Belgium), 3T Additive Manufacturing Ltd. (US), GENERAL ELECTRIC COMPANY (US), Carbon, Inc. (US), Prodways Group (France), SLM Solutions (Germany), Organovo Holdings Inc. (US), FIT AG (Germany), Wacker Chemie AG (Germany), Denstply Sirona(USA) among others.

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