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The global 3D printing medical devices market size is estimated to grow by USD 3,964.87 million at a CAGR of 18.81% between 2022 and 2027.
There is increasing adoption of 3D printing technology across the hospital sector to build patient-matched (or patient-specific) devices and surgical gear. The main advantage of 3D printing technology is that physicians may create personalized implants with any complicated form or geometric characteristic due to the nature of additive layer manufacturing in this technology. It can also be utilized for the development of designed porosity structures, tortuous internal channels, and internal support structures. Hence, there is an increasing demand for 3D printing technology to generate patient-specific devices for different applications, specifically. in the development of standard and complex customized prosthetic limbs. Hence, such benefits and applications are positively impacting the market growth.
Technavio has segmented the market into Application, End-user, and Geography.
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
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The orthopedic and spinal segment is estimated to witness significant growth during the forecast period. The main application of 3D printing is the fabrication of standard-sized orthopedic implants, patient-matched implants for people who have typical bone and joint anatomy, and custom 3D-printed implants for persons who have a deformity in bones or joints. There is an increasing adoption of 3D printing technology across several sectors such as hospitals and ambulatory surgery centers in order to fabricate orthopedic implants.
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The orthopedic and spinal segment was the largest segment and was valued at USD 608.38 million in 2017. This technology has the capability to manufacture complex structures that cannot be generated using traditional production methods and to create devices that are individually matched to the patient's anatomy. It also enables the manufacturing of lattice structures that significantly enhance the healing process following the implant in the body. The key material which is used for the production of 3D-printed orthopedic implants is titanium. The technology enables better porosity in the implants than that traditional manufacturing techniques. Hence, such benefits and applications are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
One of the main end-users, which are increasingly adopting 3D printing medical devices in hospitals and clinics in order to enhance patient care and outcomes. 3D printing is significantly revolutionizing the hospital industry with the capability to manufacture customized medical devices. One of the main application areas of 3D printing technology in hospitals is in the field of prosthetics. The main advantage of 3D printing is that it enables the creation of prosthetics that are specifically catering to the needs and body proportions of an individual. By leveraging cans and measurements of the patient, hospitals, and clinics are able to design and print prosthetic limbs that fit perfectly and offer better comfort and functionality. Hence, such benefits are expected to drive market growth during the forecast period.
The main purpose of academic institutes is to serve as a hub for research, development, and innovation in the field of healthcare. This segment significantly fuels the growth of 3D printing technology by carrying out studies, designing new devices, and sharing their findings with the healthcare industry. Customized prosthetics using 3D printing technology are a prime example of the contribution of academic institutes. Several researchers across different institutes have been working on generating prosthetic limbs that are designed to the specific needs and preferences of individual patients. Hence, such factors re expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
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North America is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. Some of the key factors which are significantly contributing to the growth of the global 3D printing medical devices market in North America are the better healthcare infrastructure, increased adoption of 3D printing medical devices in healthcare facilities, and the presence of prominent market players in the region.
Additionally, there is an increasing promotion of several professional societies in this region supporting the use of 3D printing technologies for medical applications. For example, the Society for Manufacturing Engineers has a dedicated medical 3D printing workgroup. Furthermore, factors such as the rapidly increasing aging population and the growing need for advanced healthcare services are expected to positively impact the market growth in the region. Hence, such factors are expected to drive the global 3D printing medical devices market in North America during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global 3D printing medical devices market witnessed a significant slowdown due to the disruption in the supply chain network for medical devices and a temporary halt in the production of 3D printing medical devices in North America. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the restoration of operations in manufacturing units, leading to an increase in demand for healthcare devices, including 3D printing medical. Such factors are expected to drive the market during the forecast period.
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
3D Systems Corp: The company offers 3D printing medical devices such as ProJet 360, ProJet 460 Plus, ProJet 5500X, and ProJet 3500 HDMax.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges.
One of the key factors driving the global 3D printing medical devices market growth is the rising cost efficiency and enhanced productivity. Some of the main advantages of 3D printing over traditional manufacturing processes include cost-efficiency, productivity, and capabilities. The main feature of 3D printing is that it includes an additive manufacturing technique in which materials are deposited in layers, which enables it to generate objects with complex freeform geometry and hybrid structures.
Additionally, 3D printing technology offers increased design flexibility and potential improvements in function and is cost-efficient as wastes less raw materials and may minimize processing costs as it avoids waste and extraction costs. By leveraging this technology, it enables the generation of customized implants or prosthetics, such as those which are utilized for spinal, dental, or craniofacial disorders in a cost-effective manner. Hence, such factors are expected to drive market growth during the forecast period.
A key factor shaping the global 3D printing medical devices market growth is the rise in the adoption of computer-aided design/computer-aided manufacturing (CAD/CAM) technology and desktop printers. There is increasing adoption of CAD/CAM technology and desktop printers in the global 3D printing medical devices market. Factors such as advancements in technology, cost-effectiveness, and the ability to produce customized medical devices. have significantly contributed to the rising adoption.
Additionally, the enhanced precision and accuracy of CAD/CAM technology have fuelled its adoption in 3D printing technology. The main advantage of CAD software is that it enables the creation of highly-detailed and complex designs, which can be further optimized for manufacturing using CAM software. Thus such benefits are expected to positively impact the market growth. Hence, such factors are expected to drive the global 3D printing medical devices market growth during the forecast period.
High initial setup costs of 3D printing facilities are one of the key challenges hindering market growth. One of the key factors which are significantly restricting the wide adoption of 3D printing technology across industries is this high initial cost. Factors such as equipment required for 3D printing or outsourced print service contracts and the advanced software used for post-processing are significantly contributing to the high cost.
Additionally, there have to be significant investments from end-users of this technology regarding the training or hiring of skilled personnel to ensure the production of high-quality devices. Also, the time duration required for the manufacture of most 3D printers relies on the number of layers to be printed, which typically ranges from hours to days. Hence, such factors are expected to hinder the global 3D printing medical devices market growth during the forecast period.
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The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global 3D Printing Medical Devices Market Customer Landscape
The 3D printing medical devices market report forecasts market growth by revenue at global, regional & country levels and analyzes the latest trends and growth opportunities from 2017 to 2027.
3D Printing Medical Devices Market Scope |
|
Report Coverage |
Details |
Page number |
177 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 18.81% |
Market growth 2023-2027 |
USD 3,964.87 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
17.58 |
Regional analysis |
North America, Europe, Asia, and the Rest of the World (ROW) |
Performing market contribution |
North America at 39% |
Key countries |
US, Germany, UK, Japan, and China |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
3D Systems Corp., Anatomics Pty Ltd., Autodesk Inc., Biomerics LLC, Boston Scientific Corp., Desktop Metal Inc., EOS GmbH, Formlabs Inc., General Electric Co., Groupe Gorge, INTAMSYS TECHNOLOGY CO. LTD., MATERIALISE NV, Mecuris GmbH, Medtronic Plc, Organovo Holdings Inc., Qualtech Consulting Corp., Renishaw Plc, Schultheiss GmbH, SLM Solutions Group AG, and Stratasys Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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