3D Printing Medical Devices Market Size to Expand At 16.8% CAGR Through by 2031

Global 3D Printing in Medical Devices Market is expected to reach $7.2bn by 2031 growing at a CAGR of 16.8% between 2021-2031.

Market Overview

3D printing is a type of additive manufacturing. There are various types of additive manufacturing, but the terms 3D printing and additive manufacturing are often used mutually. 3D printing is a process that generates a three-dimensional object by constructing successive layers of raw material. Every new layer is attached to the previous one until the entity is complete. Objects are generated from a digital 3D file, such as a computer-aided design (CAD) drawing or a Magnetic Resonance Image (MRI).

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The flexibility of 3D printing allows creators to make changes simply without the need to set up additional equipment or tools. It also allows manufacturers to generate devices matched to a patient's anatomy (patient-specific devices) or devices with very complex internal structures. These capabilities have surged huge interest in the 3D printing of medical devices and other products, comprising food, household items, and automotive parts.

Market Drivers

Rising public-private funding for 3D printing activities

In recent times, there has been a significant rise in public-private funding to support various initiatives in the 3D printing industry such as research and funding activities that are likely to boost the development of 3D printing products and technologies, thereby fuelling the growth of the 3D printing medical devices market. For instance, in September 2020, nTopolgy raised $40M to drive the future of engineering.

Rising public-private funding for 3D printing activities

In recent times, there has been a significant rise in public-private funding to support various initiatives in the 3D printing industry such as research and funding activities that are likely to boost the development of 3D printing products and technologies, thereby fuelling the growth of the 3D printing medical devices market. For instance, in September 2020, nTopolgy raised $40M to drive the future of engineering.

Impact of COVID-19 on 3D Printing Medical Devices Market

Owing to the pandemic, during March 2020 and throughout the second quarter of 2020, access to customers to sell and implement the 3D printing medical devices reduced as hospitals became primarily focused on the COVID-19 pandemic. The pandemic has led to a significant increase in the demand for ventilators. The closure of manufacturing facilities owing to shutdowns and disrupted supply chains slightly impacted the growth of the 3D printing medical devices market during the COVID pandemic.

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Market Segments

By Component

3D Printing Equipment
Materials
Plastics
Metal and Metal Alloy Powders
Biomaterials
Other
Services and Software

By Technology

Photopolymerization
Digital Light Processing
Stereolithography
Two-Photon Polymerization (2PP)
Droplet Deposition (DD) Or Extrusion-Based Technologies
Fused Deposition Modeling (FDM)
Multiphase Jet Solidification (MJS)

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Low-Temperature Deposition Manufacturing (LDM)
Laser Beam Melting (KBM)
Selective Laser Melting (SLM)
Direct Metal Laser Sintering (DMLS)
Selective Laser Sintering (SLS)
Lasercusing
Electron Beam Melting (EBM)
Three Dimensional Printing (3DP) Or Adhesion Bonding

By Medical Product

Surgical Guides
Dental Guides
Craniomaxillofacial (CMF) Guides
Orthopedic Guides
Surgical Instruments
Surgical Fasteners
Scalpels
Retractors
Prosthetics and Implants
Standard Implants
Custom Implants
Tissue Engineering Products
Bone and Cartilage Scaffolds
Ligament and Tendon Scaffolds

By End User

Hospitals & Surgical Centers
Dental & Orthopedic Clinics
Academic Institutions & Research Laboratories
Pharma-Biotech & Medical Device Companies
Clinical Research Organizations

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This release was published on openPR.