3D Printing Medical Devices Market to Grow at CAGR of 18%| Top Performing Key Players 3D Systems Corporations, Stratasys Ltd., SLM Solutions Group AG, EnvisionTEC, Arcam AB, Organovo Holdings, Inc. and many others upto 2023

Market Scenario

The Global 3D Printing Medical Devices Market is expected to grow during the forecast period (2018–2023) at a CAGR approximately 18%.

3D printing plays a very crucial role when it comes to medical and dental device manufacturing. 3D printings are most widely used medical devices and can also be used for other products, including food, household items, and automotive parts due to its capabilities. This 3D printing technology is used to treat different types of therapies such as titanium replacements for hips & jaws, the creation of limb prosthetics and plastic tracheal splints, etc. Due to the advanced technology and easy use of devices many doctors prefer 3D printing devices before surgeries of any organ part which can reduce error. 3D objects formed from a digital 3D image is a computer-aided design drawing or a magnetic resonance image. 3D object is created by constructing consecutive layers of material in which each layer is attached to the previous layer until the object is complete. For creating an 3D image different types of materials are used.

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Global 3D printing medical devices market is expected to grow due to increasing investment by the government in healthcare sector, growing technological advancement in 3D printing, easy development of medical devices and growing application of 3D printing device in healthcare industry. 3D printing plays a vital role in medical and dental manufacturing industry. It is very cost effective and preferred option by medical device manufacturers including all types of medical devices such as hearing aids, prostheses, custom made knee and hip implant. 3D printing medical device is expected to show significant growth during the forecast period due to numerous technological innovations in this sector. In addition, some other factors such as R&D investment, rapidly expanding customer base, increasing scope of biomedical application has fueled the market growth.

However, some factors that may hamper the growth of market in future are unfavorable reimbursement policies, high cost of printers, biocompatibility issues of 3D printed medical devices and limited technical expertise in medical devices.

Segmentation

The Global 3D Printing Medical Devices Market has been segmented into types, component, technology, application and end-users.

On basis of types, the global 3D printing medical device market is segment into surgical guides, surgical instruments, prosthetics & implants and tissue engineering product. Surgical guide is expected to hold the largest share of 3D printing medical device market in forecast period. 3D printing surgical guide is a part of surgical planning and it provides accurate implant restoration. Hence the demand for surgical guide is increasing and this is key factor driving the growth of this market segment.

Based on component, the global 3D printing medical device market is segment into system, materials software & services, 3D bio printer and 3D printer. Software & services is expected to account for the largest share of 3D printing medical device market in forecast period. Increasing development in software solutions to manufacture high-quality 3D-printed medical products is the key factor driving the growth of the services and software segment.

On basis of technology, the Global 3D Printing Medical Device Market is segmented into 3D printing, droplet deposition, photopolymerization, laser beam melting, electron beam melting (EBM), laminated object manufacturing (LOM), polyjet technology and others. Photopolymerization is expected to hold the largest share of 3D printing medical device market.

Based on application, the Global 3D Printing Medical Device Market is segmented into external wearable devices, clinical study devices, implants and tissue engineering. The external wearable devices segment holds the largest share of 3D Printing Medical Device Market in forecast period.

Based on end-users, the Global 3D Printing Medical Device Market is segmented into hospitals, medical and surgical centers, pharma and biotech companies, academic institutions and contract research organization. The medical and surgical centers segment account for the largest share of 3D printing medical device market due to rapidly increasing patient population and reduction in operative and infection risks.

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