3D Printed Medical Devices Market Survey Detailed Analysis and Forecast 2024-2031

InsightAce Analytic Pvt. Ltd. announces the release of market assessment report on "Global 3D Printed Medical Devices Market By Product (3D Printers, 3D Bio-Printers, Materials and Software & Services), Application (Implants, Tissue Engineering and External Wearable Device), Technology (Laser Beam Melting, Photopolymerization, 3D Printing, Electron Beam Melting and Droplet Deposition), End-User (Hospitals, Academic Institutes, Cros and Pharma & Biotech Companies)- Technology Trends, Industry Competition Analysis, Revenue and Forecast Till 2031".

The 3D Printed Medical Devices Market Size is valued at 1.80 Billion in 2022 and is predicted to reach 10.34 Billion by the year 2031 at a 21.73 % CAGR during the forecast period for 2023-2031.

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3D printing medical devices are medical goods produced utilizing 3D technology. This entails using various manufacturing procedures/techniques, all of which are based on creating a digital file/image of the thing to be completed before employing a variety of different ways. One of the primary factors driving market expansion is the increasing incidence of surgical treatments for a variety of reasons all over the world. In other words, increased rates of traffic accidents, kidney stones, and other conditions are directly driving market expansion. Rising R&D expenditures will create even more profitable market growth potential, particularly in developed and developing nations.

The development of medical devices is being supported by research and development capabilities, which are accelerating market growth. Additionally, an increase in public-private funding for targeted research initiatives, growing public awareness of the advantages of 3D printing technology, an increase in the prevalence of orthopedic and dental diseases among the population, the availability of advanced 3D printing materials for dental and medical applications, an increase in the geriatric population base, and rising product innovations and development as a result of technological advancements worldwide will broaden profitable opportunities.

List of Prominent Players in the 3D Printed Medical Devices Market:
Prodways Group
Stratasys Ltd.
3D Systems Inc.
Materialize NV
Renishaw plc

Market Dynamics:
Drivers-
The market is expanding due to the rising number of public-private partnerships for the construction of healthcare infrastructure, particularly in developing nations. The market is also growing due to the increasing introduction of novel technologies for preserving stem cells and their storage due to a partnership between public and private companies. Additionally, the rise in bone and musculoskeletal injuries and the incidence of cardiovascular and neurological illnesses are predicted to increase demand for 3D anatomical components, creating a significant market opportunity for 3D printing medical devices.

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Challenges:
High expenses connected with R&D capabilities, a deficient infrastructure, an unequal distribution of healthcare services, and a lack of expertise in developing countries are all projected to act as hurdles to market expansion. Additionally, the market is expected to face challenges from low and middle-income countries' inadequate infrastructure, lack of favourable reimbursement scenarios and technology penetration, high capital investment and operating costs, strict regulatory framework, limited insurance coverage, and noncompliance with regulations.

Regional Trends:
The North America 3D Printed Medical Devices market is expected to register a significant market share in revenue and is projected to grow at a high CAGR shortly due to an ageing population, an increase in cardiovascular disease prevalence, and an increase in replacement and implant surgeries. The demand for the global 3D printing medical devices market is expected to increase throughout the forecast period due to technological developments in 3D printing, such as customized prostheses, tissue engineering, and bio-printing. Besides, Asia Pacific had a substantial share in the 3D Printed Medical Devices market due to the rise in government programs to spread awareness, the development of medical tourism, the expansion of regional research activities, the presence of sizable unexplored markets, the size of the population pool, and the region's expanding need for high-quality healthcare. The rising trend of automation and robotic assistance devices in East Asia, with China as a leading developer in integrated technologies, is responsible for the country's expanding market for 3D-printed medical devices. A solid Chinese market has emerged in the 3D printed medical devices market due to the nation's increased adoption of 3D printed goods and medical equipment.

Recent Developments:
• In October 2021, Stratasys, a prominent 3D printing medical equipment company, reached an arrangement with Bone 3D, a French medtech firm. This collaboration will immediately place Stratasys 3D printing technology in the hands of France's front-line medical experts.
• In March 2019, UNYQ introduced the UNYQ Socket, a 3D-printed prosthetic leg socket. It is lightweight and has a sensor that records the user's fitness and exercise.

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Segmentation of 3D Printed Medical Devices Market-
By Product-
• 3D printers
• 3D bio-printers
• Materials
• Software & Services
By Application-
• Implants
• Tissue Engineering
• External Wearable Device
By Technology-
• Laser beam melting
• Photo polymerization
• 3D printing
• Electron beam melting
• Droplet deposition
By End-User-
• Hospitals
• Academic institutes
• CRO's
• Pharma & biotech companies
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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This release was published on openPR.