3D Printed Medical Devices market Top Companies Study- Prodways Group, Stratasys Ltd., 3D Systems Inc., Materialise NV and Renishaw plc.

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 global 3D Printed Medical Devices market is estimated to reach over 11.53 Billion by the year 2031, exhibiting a CAGR of 17.62% during the forecast period.

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3D printed medical devices are healthcare products manufactured using 3D printing technologies. This process involves creating a digital model or image of the item to be produced, followed by utilizing various techniques for fabrication. One of the key drivers of market growth is the rising global incidence of surgical procedures, including those resulting from traffic accidents, kidney stones, and other medical conditions. The increasing frequency of these health issues directly contributes to the expansion of the market. Moreover, heightened research and development (R&D) investments, particularly in both developed and emerging economies, are expected to further fuel market growth. The continuous advancement of medical devices through R&D efforts is accelerating market demand. Additionally, growing public-private funding for targeted research, increased awareness of the benefits of 3D printing technology, the rising prevalence of orthopedic and dental diseases, the availability of advanced 3D printing materials for medical and dental applications, a growing elderly population, and ongoing product innovations driven by global technological advancements are all expected to open up additional profitable opportunities in the market.

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

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Market Dynamics:
Drivers:
The growth of the 3D printed medical devices market is primarily driven by an increasing number of public-private partnerships aimed at enhancing healthcare infrastructure, especially in developing countries. These collaborations are also fostering the advancement of innovative technologies for stem cell preservation and storage. Furthermore, the rising prevalence of bone and musculoskeletal injuries, as well as the increasing incidence of cardiovascular and neurological disorders, are expected to significantly boost the demand for 3D anatomical components, creating substantial market opportunities for 3D printing medical devices.

Challenges:
Key challenges facing the market include the high costs associated with research and development (R&D), inadequate infrastructure, uneven distribution of healthcare services, and a shortage of specialized expertise in developing nations. In addition, the market is expected to encounter obstacles such as limited infrastructure, unfavorable reimbursement structures, low technology penetration, substantial capital and operational costs, stringent regulatory requirements, insufficient insurance coverage, and non-compliance with regulations in low- and middle-income countries.

Regional Trends:
The North American 3D printed medical devices market is anticipated to hold a significant revenue share and is expected to experience high growth in the near future, driven by an aging population, an increase in cardiovascular diseases, and a rise in replacement and implant surgeries. Technological advancements in 3D printing, including customized prosthetics, tissue engineering, and bioprinting, are expected to further propel market growth in the region. In addition, the Asia Pacific region holds a considerable share of the 3D printed medical devices market, owing to government initiatives to raise awareness, the growth of medical tourism, increased regional research activities, a large untapped market, and the rising demand for high-quality healthcare. The region's expanding adoption of automation and robotic assistance devices, particularly in East Asia, with China at the forefront of integrated technology development, is contributing to the growth of the 3D printed medical device market. China's growing market for 3D printed medical devices is fueled by the country's increased adoption of 3D printed products 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.