3D printing has appeared as a promising technology for the medical field. Demand for 3D printing medical devices is growing with constant innovations and advancements of technologies, increasing funding for R&D, high incidence of orthopaedic and dental diseases, increasing demand for surgical instruments and medical equipment, and superior features over the traditional process. Continuous advances in 3D printing are gaining attention in the healthcare field due to their potential to improve treatment for specific medical conditions. 3D printing allows designers to customize easily without the need to set up auxiliary equipment or tools. It also allows manufacturers to design devices matched to a patient’s anatomy with very complicated internal structures. These capabilities have caused tremendous interest in the 3D printing of medical devices. Currently, medical devices produced by 3D printing involve orthopedic and cranial implants, surgical instruments, dental restorations such as crowns, and external prosthetics. Companies are constantly working to improve the 3D printing process with new technology and material, increasing the chances of being used more widely to manufacture medical devices. During the COVID-19 outbreak, 3D printing has been called upon to ease shortages of vital medical equipment such as personal protective equipment and ventilators, boosting market further.
According to Value Market Research, the global 3D printing medical devices market size was valued at about USD 3.7 billion in 2022 and is estimated to grow at a CAGR of around 14 % during the forecast period 2023 to 2030.
Analysis, By Component
By component, the market is segmented into equipment, materials, and services & software. The equipment segment is a majority stakeholder. Donor shortages for organ transplantations, growing risks with traditional methods and the potential of 3d printer to solve these limitations drives the equipment segment growth. Materials and services & software segments are also performing well in the market. New device launches and robust research on material science fuel the segment growth.
Analysis, By Application
By application, the market is divided into surgical guides, surgical instruments, standard prosthetics & implants, custom prosthetics & implants, tissue-engineered products, hearing aids, wearable medical devices, and others. Custom prosthetics and the implant is the most lucrative segments in the global market. 3D printing is the most suitable for customized medical device printing. With 3D printing, custom prosthetics and implants can be manufactured cheaply, faster and enable personalized care.
Analysis, By Technology
Based on technology, the market is divided into laser beam melting, photopolymerization, droplet deposition/extrusion-based technologies, electron beam melting, three-dimensional printing/adhesion bonding/binder jetting, and others. Laser beam melting is the leading global 3D printing medical devices market by technology. The laser beam melting technique uses a high-powered laser to melt each layer of the powdered material successively until the final structure is built. It is well suited for medical device manufacturing because of the following capabilities: design freedom, cost savings, allows manufacturing of prototype device components, enables low-volume production components, and can design complex parts.
Analysis, By Region
Based on region, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America dominated the market in 2020 and will continue to by the end of the forecast. The significant presence of providers and end-users, early adoption of new technologies, an initiative by companies to manufacture devices by 3D printing technology, and growing outsourcing for curbing production expenses are responsible for the region's healthy growth.
Major players of the market
Few players dominate the global 3D printing medical devices market. New players are entering the market to expand their product offerings and stay foremost with the technology embracement. 3T RPD Ltd, Renishaw plc., Concept Laser GmbH, General Electric, Arcam AB, Materialise, 3D Systems Corporation, Stratasys Ltd. are vital companies operating the Global 3D printing medical devices market.
Global 3D Printing Medical Devices Market Overview
3D printing is creating an immense opportunity for the medical devices industry. The technology offers interesting new ways to provide personalized care, design better-performing medical devices, make dental products more inexpensive and faster, and enable personalized care through custom-produced instruments and implants. Leading hospitals and labs are adopting 3D printing as part of their medical practices and research efforts.
The global 3D printing medical devices market faces significant obstruction due to the high costs, lack of reimbursement, stringent regulations, and lack of expertise. High costs concerned with the manufacturing and maintaining these devices and the strict regulatory compliances present from the authorities on the commercialization of 3D printed medical devices act as the restrictive factors for the 3D printing medical devices market. In addition, the shortage of trained professionals and expertise and lack of understanding and knowledge about process control are other factors likely to hamper the market growth.
In this research report, the 3D printing medical devices market is segmented by component, application, technology, and region.
Market Segmentation Covered in the Report:
By Component
- 3D Bio-printer
- 3D Printer
- Software
By Application
- Prosthetics
- Implants
- Surgical Guides
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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