3D Printing Medical Devices Market 2018: by Size, Latest Innovations, Challenges, Industry Growth Rate and Assessment - 2023
SDMR employs a three way data triangulation approach to arrive at market estimates. We use primary research, secondary research and data triangulation by top down and bottom up approach
Medical equipment is expensive and result in an increased healthcare spending. According to the Advanced Medical Technology Association, in 2013, the estimated total spending on medical devices and in-vitro diagnostics in US was $ 171.8 billion i.e. 5.9% of the of total national health expenditures. This is one of the major drivers for the 3D printing devices market as, 3D printing splints, medical models used before surgeries or other necessary items of care help in cutting healthcare cost to a great extent. Considering this, the medical device industry is rapidly adopting 3D printing technology to introduce novel products that are revolutionizing medical device design and manufacturing.
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3D printing in medical field has resulted in both clinical and innovative advancements. Additive manufacturing technologies have been applied to medical equipment, prosthetics, dental products, bio printing, and pharmaceuticals. However, in order to be able to be used for clinical applications, these technological advancements require a FDA approval. However, recently the FDA issued guidelines speed up the approval process for companies engaged in the development of these technologies. Additionally, these companies are also likely to be entitled to research and development tax credits to balance the cost associated with testing, process improvement, and production. These are some of the important factors responsible for driving the growth of this market.
However, some of the factors like socio-ethical concerns related to the use of 3D-Printed Products and the complex process involved in this are likely to restraint the growth of this market. Irrespective of these restraints the market is likely to grow to reach nearly 1.9 billion by 2023.
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The market for 3D printing medical devices is segmented on the basis of components (software and services), equipment (3D printers and 3D bioprinters), materials (plastics, metal & metal alloys powder, bioprinting biomaterials, and others), by technology (electron beam melting, laser beam melting, photopolymerization, droplet deposition (DD) or extrusion-based technologies, and three-dimensional printing (3DP) or adhesion bonding or binder jetting). The 3D-printed medical products market is further segmented based on type (surgical guides, surgical instruments, prosthetics & implants, and tissue engineering products).
Some of the major players dominating the market are Stratasys Ltd., Envisiontec GmbH, 3D Systems Corporation, EOS GmbH Electro Optical Systems, Renishaw plc, Materialise NV, Arcam AB, 3T RPD Ltd.
Concept Laser GmbH, Prodways Group, Carbon, Inc., SLM Solutions Group AG, Organovo Holdings, Inc.
Biomedical Modeling Inc. and Anatomics Pty Ltd.
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Table of Contents
3D Printing Medical Devicess, By Type
Factors influencing the demand of 3D Printing Medical Devicess
North America market analysis
Western Europe market analysis
Asia Pacific market analysis and more………
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