(MENAFN- PR Newswire)
" Explore the transformative impact of 3D printing on the medical device industry globally. This report delves into market trends, cutting-edge innovations, and the growing demand for customized medical solutions. Understand how this technology is set to revolutionize healthcare by improving patient outcomes, reducing costs, and enhancing the accessibility of advanced medical treatments worldwide ."
BOSTON, Aug. 6, 2024 /PRNewswire/ -- "According to the latest
BCC research study, the demand for 3D Printing Medical Devices: Global Markets
is expected to increase from $2.1 billion in 2023 and the market is estimated to grow from $2.2 billion in 2024 to $4.5 billion by the end of 2029, at a compound annual growth rate (CAGR) of 14.7% from 2024 to 2029.
This report offers a comprehensive overview of the global 3D printing medical devices market, analyzing trends and providing updated insights. It breaks down the market by product segments, technology, sales channels, and applications, using 2023 as the base year and forecasting through 2029. The report covers key geographical regions, including North America, Europe, Asia-Pacific, and the Rest of the World, highlighting emerging technologies and the vendor landscape. It concludes with profiles of major market players, excluding dental implants from the implants and prosthetics segment, as they fall under the dental category.
Some Interesting Facts about 3D Printing Medical Devices: Global Markets
The global market for 3D printed medical devices is set to grow significantly, with the prosthetics and orthotics segment expected to increase by 20.8% from 2024 to 2029. This growth is driven by the high demand for prosthetics worldwide, as highlighted by the WHO, which states that only 1 in 10 people in need currently have access to assistive products like prostheses. Technological advancements in 3D printing enable the creation of customized and intricate designs, improving patient comfort and quality of life.
Additionally, the versatility and reusability of materials used in 3D printing are fueling market growth. Leading companies are making significant strides in developing materials that enhance the efficiency and capabilities of medical devices. For instance, in 2023, Stratasys introduced four new P3 materials and announced advancements in their Kimya PC-FR and FDM HIPS materials for FDM 3D printers, attracting more healthcare providers and increasing the adoption of 3D printed medical devices.
to discover more insights and information about 3D Printing Medical Devices: Global Markets, click here for further exploration.
Factors contributing to this growth include:
1.
Increasing use of 3D printing across the healthcare sector: The use of 3D printing is growing rapidly in healthcare, enabling the creation of custom medical devices, implants, and prosthetics tailored to individual patients. This technology improves treatment outcomes and enhances patient care.
2.
Rising government support for additive manufacturing: Governments are increasingly backing 3D printing, known as additive manufacturing, through funding, incentives, and policy support. This boosts innovation and growth in the industry.
3.
Increasing demand for patient-specific customization: There is a growing demand for medical treatments and devices that are tailored specifically to individual patients, improving their effectiveness and comfort.
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3D Printing Medical Devices: Global Markets
Report Synopsis
| Report Metrics |
Details |
| Base year considered |
2023 |
| Forecast Period considered |
2024-2029 |
| Base year market size |
$2.1 Billion |
| Market Size Forecast |
$4.5 Billion |
| Growth Rate |
CAGR of 14.7% from 2024 to 2029 |
| Segment Covered |
By Product Segment, Technology, Application, Sales Channel, and Region |
| Regions covered |
North America, Europe, Asia-Pacific, and the Rest of the World (South America, Middle East, Africa) |
| Countries covered |
U.S., Canada, Mexico, Germany, France, U.K., Australia, China, Japan and South Korea |
| Key Market Drivers |
.
Increasing use of 3D printing across the healthcare sector .
Rising government support for additive manufacturing .
Increasing demand for patient-specific customization |
Market Segmentation
The Global Market for 3D Printing Medical Devices: Global Markets can be categorized into various segments:
1.
Market Segments by Components
Software and Services
Hardware
The materials used in 3D printing medical devices include metals, polymers, ceramics, and other specialized substances, each offering unique properties that enhance the performance and customization of medical solutions.
2.
By Technology
The technology used in 3D printing medical devices includes various methods such as material extrusion, powder bed fusion, vat polymerization, material jetting, binder jetting, and directed energy deposition. Each technique has its own advantages for creating detailed and customized medical parts.
3.
By Application
3D printing is used in various medical applications, including creating prosthetics and orthotics, surgical instruments and guides, anatomical models, dental devices, and medical implants, among others. Each application benefits from the technology's ability to provide customized, precise, and effective solutions.
4.
By Sales Channel Segment
3D printed medical devices are sold through different channels, including direct sales to hospitals, universities, and other institutions, as well as through original equipment manufacturers (OEMs) and medical device manufacturers . Each channel plays a role in distributing these advanced medical solutions.
5.
By Region
The global market for 3D printed medical devices is segmented by region, including North America (U.S., Canada, Mexico), Europe (U.K., France, Germany, and other European countries), Asia-Pacific (China, Japan, Australia, South Korea, and other Asia-Pacific nations), and the Rest of the World (South America, the Middle East, and Africa). Each region has its own market dynamics and growth potential.
this report on 3d printing medical devices: global markets provide comprehensive insights and analysis, addressing the following key questions:
1.
What is the projected market size and growth rate of the global 3D printing medical devices market?
The global market for 3D printing medical devices was valued at $2.1 billion in 2023 and will reach $4.5 billion by 2029, growing at a CAGR of 14.7% from 2024 to 2029.
2.
What are the key factors driving the growth of the global 3D printing medical devices market?
The key factors driving the growth of global semiconductor machinery manufacturing include growing research & development expenditure from key players and rising government support for additive manufacturing.
3.
By application, which segment will dominate the market by the end of 2029?
By the end of 2029, the dental segment will continue to dominate the global 3D printing medical devices owing to the increased adoption of 3D printing technology across various dental applications. Also, the higher market share is owing to the early adoption of 3D printing technology by dental for producing various dental parts such as clear aligners.
4.
Which region has the highest market share in the global 3D printing medical devices market?
North America holds the highest market share in the global 3D printing medical devices market. The prominent market share is due to the presence of leading global companies in the 3D printing medical devices domain, a growing 3D printing industry, increasing technological advancements pertaining to the 3D printing medical devices domain, and early adoption of 3D printing technology. The U.S. is the significant market and driving the higher market share across the North American region.
5.
Who are the key companies/players in the global 3D printing medical devices market?
The key companies/players in the market include HP Inc., 3D Systems Corporation, EOS GmbH, Stratasys Ltd., and Materialise NV among others.
Some of the Key Market Players Are:
3D SYSTEMS INC.
CARBON INC.
CELLINK
EOS GMBH
FABRX LTD.
FORMLABS
GE AEROSPACE (GENERAL ELECTRIC CO.)
HP DEVELOPMENT CO. L.P.
MATERIALISE
NIKON SLM SOLUTIONS AG
PRODWAYS GROUP
PROTO LABS INC.
REGENHU
RENISHAW PLC.
STRATASYS LTD.
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Biodegradable Polymers: Global Markets and Technologies : The global market for biodegradable polymers covers materials that can naturally break down and reduce environmental impact. This market includes various technologies for producing eco-friendly plastics used in packaging, agriculture, medical devices, and more, emphasizing sustainability and reducing pollution.
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