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3D Printed Medical Devices Market Exclusive Trends Analysis with Forecast to 2031
The global 3D Printed Medical Devices market is estimated to reach over USD 11.53 Billion by 2031, exhibiting a CAGR of 19.49% during the forecast period.
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3D printed medical devices refer to healthcare products manufactured using additive manufacturing technology. This process involves creating a digital file or image of the device to be produced, followed by the application of various manufacturing techniques. A key factor driving the growth of this market is the increasing global incidence of surgical procedures due to various factors, such as traffic accidents, kidney stones, and other medical conditions. Furthermore, rising research and development (R&D) expenditures are expected to unlock additional growth opportunities, particularly in both developed and emerging economies.
The ongoing advancements in medical device development, fueled by R&D efforts, are further accelerating market expansion. Additionally, the growing availability of public-private funding for targeted research, increased awareness of the benefits of 3D printing technology, the rising prevalence of orthopedic and dental conditions, the availability of advanced 3D printing materials for medical and dental applications, the aging population, and continuous product innovations due to technological advancements are all contributing to the creation of 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
Market Dynamics:
Drivers-
The growth of the market is largely attributed to the increasing number of public-private partnerships aimed at building healthcare infrastructure, particularly in emerging economies. Furthermore, the market is expanding due to the introduction of innovative technologies for stem cell preservation and storage, facilitated by collaborations between public and private entities. The rising incidence of bone and musculoskeletal injuries, as well as the growing prevalence of cardiovascular and neurological disorders, is expected to drive demand for 3D-printed anatomical components, thus creating significant market opportunities for 3D printing in the medical device sector.
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Challenges:
Despite the market's growth potential, several challenges may hinder its expansion. High research and development costs, inadequate infrastructure, uneven distribution of healthcare services, and a lack of skilled professionals in developing countries are projected to act as obstacles.
Regional Trends:
The North American market for 3D printed medical devices is anticipated to capture a significant share of revenue and is projected to experience rapid growth due to factors such as an aging population, increased prevalence of cardiovascular diseases, and a rise in implant and replacement surgeries. Technological advancements in 3D printing, including custom prosthetics, tissue engineering, and bioprinting, are expected to drive further demand in this region. Additionally, the Asia Pacific market holds a substantial share, driven by government initiatives to raise awareness, the growth of medical tourism, expansion of regional research activities, and the increasing demand for high-quality healthcare.
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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