The Global 3D Printing Medical Devices Market Report by MRFR extends precise and unmistakable points of interest through the scope of years 2018-2023. The Industry report includes inside and outside investigation and bits of understanding of 3D Printing Medical Devices Market.
3D Printing Medical Devices Market Overview
3D printing is essential for medical device manufacturing and dental device manufacturing. Therefore, the devices that can provide 3D prints always have a strong demand in the medical sector. A new report on the global 3D printing medical devices market, published by Market Research Future (MRFR), reckons that this market could meet growth at 18% CAGR between 2018 and 2023.
The underlining market driver for the global 3D printing medical devices market growth is the capability that makes 3D printing medical devices useful not just for the medical sector but also for other products that include automotive parts, food, and household items. This 3D printing technology is useful for different therapies that include the limb prosthetics creations along with plastic tracheal splints creation and titanium replacements for hips & jaws. Advanced technology and easy use of 3D printing devices help doctors to plan surgery properly. Medical devices that can be developed via 3D printing devices include custom made knee & hip implant, hearing aids, and prostheses.
Other market drivers include growing technological advancement in 3D printing, easy development of medical devices, increasing investment by the government in the healthcare sector, numerous technological innovations in medical sector, increasing scope of biomedical application, surging investment in research & development (R&D), and growing application of 3D printing device in healthcare industry. However, factors that may hinder the market growth include biocompatibility issues of 3D printed medical devices, high cost of printers, limited technical expertise in medical devices, and unfavorable reimbursement policies.
3D Printing Medical Devices Market Segmentation
The global 3D printing medical devices market segmentation encompasses application, component, end-users, technology, and type. MRFR’s take on the market explores various facets of the market in-depth.
The application-based segmentation of this market covers clinical study devices, external wearable devices, implants, and tissue engineering. The external wearable devices segment is expected to hold the largest market share during the forecast period.
Regarding component, the market has been segmented into 3D bioprinter, 3D printer, materials, software & services, and system. During the forecast period, the software & services segment can hold the largest market share due to the increase in advancements in the software solutions that are useful for manufacturing high-quality 3D-printed medical products.
As per end-users, the market has been segmented into academic institutions, contract research organization, hospitals, medical & surgical centers, and pharma & biotech companies. During the forecast period, the medical & surgical centers segment has been expected to hold the largest market share due to the increase in the patient population and a decrease in surgical risks as well as infection risks.
In the context of technology, the market has been segmented into 3D printing, droplet deposition, electron beam melting (EBM), laminated object manufacturing (LOM), laser beam melting, photopolymerization, poly-jet technology, and others. During the forecast period, the photopolymerization segment is expected to hold the largest market share.
By type, the market has been segmented into prosthetics & implants, surgical guides, surgical instruments, and tissue engineering product. During the forecast period, the surgical guide segment is expected to hold the largest market share as 3D printing surgical guide is useful for surgical planning. The demand for the surgical guide is increasing as it provides accurate implant restoration.
3D Printing Medical Devices Market Regional Segmentation
A geographical outlining of the global 3D printing medical devices market covers the Americas (North America & South America), Asia Pacific, Europe, and the Middle East & Africa (MEA).
The Americas segment holds the largest market share in the global market as North America alone holds the potential to become the largest regional market. North American is greater than South American market due to technological advancement and the availability of advanced medical facilities. Other factors responsible for the market growth include increasing demand for organ transplant and increasing investment from the government to develop advances 3D Printing technologies & applications.
Europe is the second-largest regional market due to favorable government investments, changing lifestyles of consumers, the subsequent increase in patient population as well as the number of surgeries, and rise in R&D. Due to reasons that are same as the Americas, Western Europe is expecting better growth than the Eastern Europe.
During the forecast period, the Asia Pacific region can arise as the fastest growing regional market due to the growing prevalence of chronic ailments that include blood pressure disorders, diabetes, and more. Other factors responsible for the market growth include the increase in the geriatric population and increasing investments in the healthcare sector by the government. The crucial country-specific markets in this region are Australia, China, India, Japan, and South Korea.
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3D Printing Medical Devices Market Key Players
Prominent players in the global 3D printing medical devices market include 3D Systems Corporation (USA), 3T RPD Ltd. (UK), Arcam AB (Arcam AB), Bio3D Technologies (Singapore), Cyfuse Biomedical K.K. (Japan), EnvisionTEC (USA), Laser Blechbe- & -verarbeitungs GmbH (Germany), Materialise NV (Belgium), Organovo Holdings Inc. (USA), Oxford Performance Materials Inc. (USA), Prodways Group (France), Renishaw PLC (UK), SLM Solutions Group AG (Germany), and Stratasys Ltd. (USA).
3D Printing Medical Devices Industry News
German medical 3D printing startup Kumovis has released its first 3D printer, the R1 in the market. 8 AUG 2019
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Nov 10 2020: The global Blockchain Technology market size is expected to reach USD 57,641.3 million by 2025, registering a CAGR of 69.4% from 2019 to 2025, according to a new study conducted by Grand View Research, Inc. Blockchain is the underlying technology that originated in the form of a public ledger to keep a track of all cryptocurrency transactions.
This allows various participants that are connected to the network, usually public, to track information through a secure network, thereby eliminating the need for any kind of third-party verification.The market is expected to grow rapidly owing to numerous benefits that it provides, such as eradication of the requirement of a financial institution to validate transactions, reduce duplicative recordkeeping, eliminate reconciliation, minimize error rates, and facilitate faster settlement.
With the use of this technology, the databases could become universal in nature, thereby allowing multiple institutions to use it at the same time to bring various different systems closer together and help increase the efficiency.To Request A Sample Copy Of This Report @: https://www.radiantinsights.com/research/blockchain-technology-market/request-sampleThe global blockchain technology market size is expected to reach USD 57,641.3 million by 2025, registering a CAGR of 69.4% from 2019 to 2025, according to a new study conducted by Grand View Research, Inc. Blockchain is the underlying technology that originated in the form of a public ledger to keep a track of all cryptocurrency transactions.
With the use of this technology, the databases could become universal in nature, thereby allowing multiple institutions to use it at the same time to bring various different systems closer together and help increase the efficiency.The increasing demand for this technology across financial services, consumer or industrial products, technology, media , healthcare, transportation, and public sector is largely responsible for driving the market toward growth.
The major drivers include the growing interest of the BFSI sector and increasing merchants accepting cryptocurrencies among others.
This growth can be attributed to growing tendency of institutions and government to inculcate open and efficient transactions.• The application & solution segment is anticipated to grow at the highest CAGR of 71.2% from 2019 to 2025.
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