Global 3D Printing Medical Devices Market size is estimated at USD 1480.72 Million in 2018 and is poised to reach USD 5595.77 million by 2023, growing at a CAGR of 30.46%. 3D printing is quite possibly the next greatest chapter in the industrial uprising, and the technology is moving rapidly. 3D printing technology has the potential to radically transform the way medical devices are used to treat patients. It will impact health care in many ways, including implantable and non-implantable medical devices, along with cost-effective customizable devices.
One of the major driving forces for growth in the medical 3D printing industry is the rising demand for patient-specific products in orthopaedics and maxillofacial surgery. In addition, the latest advancements in technologies, growing awareness about the new developments, diversity of materials that range from polymers to living tissue, supportive policies and funding from the government are also helping in market growth. Now, with the prices of 3D models coming down and also the availability of a broad range of material options have increased the adaptability of 3D printing in the healthcare sector.
3D Printing Medical Devices Market - Drivers, Challenges and Opportunities
Increasing incidences of chronic diseases and the need for patient’s wellbeing after surgeries are key driving factors for the market to grow. In addition, growing demand to manufacture high-quality equipment in less time for various applications in the medical sector is fueling the demand of the market.
However, the cost for installation and maintenance of the devices is a bit expensive and this is declining the demand of the market. Rapid changes in the economic strategies may also impact negatively on the growth of this 3D printing medical devices market.
Growing support from the private and public organizations in maintaining advanced equipment is anticipated to provide growth opportunities for the market. Increasing geriatric population and rise in the number of emergency cases with injuries are likely to bolster the growth of the market.
The 3D printing market for healthcare applications is segmented on the basis of product type into Medical Implants, Prosthetics, Tissue Engineering, Surgical Guides, Surgical Instruments and Hearing & Audibility Aid devices. On the basis of Material used for manufacturing the market is segmented under Plastics, Biomaterials, and Metal & Metal alloys, Ceramics, Nylon and Wax. Plastics like acrylonitrile butadiene styrene (ABS), and polylactic acid (PLA) are found to be in increased use along with nylon, which is considered as simplest to work with. There is a faster growth expected in the use of metals which has greater strength and resistance for 3D printing
In addition, on the basis of technology the market is segregated under various technologies employed namely, Laser beam melting (LBM), Electron Beam Melting (EBM), Droplet Deposition, Wax deposition Modelling and Bio Printing.
On the basis of technology, Electron beam melting technology is leading with the highest shares of the market
By technology, the market is divided into electron beam melting technology, laser beam melting technology, photo-polymerization, droplet deposition and binder jetting. Electron beam melting technology is holding dominant shares of the market. The rise in the number of dental institutes and growing demand for the production of dental crowns and bridges are escalating the demand of the market.
On the basis of type, surgical instruments type is growing at a faster rate from the past few years
By type, the market categories are surgical guides, surgical instruments, prosthesis and implants and tissue engineering products. Surgical instruments are growing tremendously from recent years, whereas surgical guide type is ruling with prominent shares of the market. Increasing demand for minimally invasive surgeries is straight boosting up the demand of the 3D printing medical devices market.
North America is gaining attention over shares of the market
Further, on the basis of geography, the market is segmented and analysed under regions namely, North America, Europe, Asia-Pacific, Latin America & Middle-East and Africa.
Regionally, North America is accounted in holding the highest shares in the global market owing to the quick adoption of the latest technology and also launching various devices in favour of the end-users. Currently, North America is the leading consumer of 3D printing technology in the healthcare industry and accounts for nearly 40% of the entire market share in 2015. Europe is the second major market for medical 3D printing applications while the emerging economies of the Asia-Pacific region offer significant market and are always a target for future growth.
Leading companies operating in the Global 3D Printing Medical Devices Market
The most developed nations have the potential for growth in the coming few years due to their technological advancements. Some of the major companies operating in the 3D printing industry with significant presence in medical equipment domain are 3D Systems Corporation (U.S.), Stratasys Ltd., Renishaw plc (U.K.), EOS GmbH Electro Optical Systems (Germany), EnvisionTEC GmbH (Germany), Materialise NV (Belgium), Arcam AB (Sweden), 3T RPD, Ltd. (U.K.), Prodways(France) and Concept Laser GmbH (Germany)
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5.1 By Product Type
5.1.1 Medical Implants
5.1.1.1 Orthopedic Implants
5.1.1.2 Dental Implants
5.1.1.3 Craniomaxillofacial Implants
5.1.2 Prosthetics
5.1.3 Tissue Engineering
5.1.5 Surgical Instruments
5.1.6 Surgical Guides
5.1.7 Hearing & Audibility Aid
5.2 By Material
5.2.1 Plastics
5.2.2 Biomaterials
5.2.3 Metal & Metal Alloys
5.2.4 Ceramics
5.2.5 Nylon
5.2.6 Wax
5.3 By Technology
5.3.1 Laser Beam Melting (LBM)
5.3.2 Electron Beam Melting (EBM)
5.3.3 Droplet Deposition
5.3.4 Photopolymerization
5.3.5 Wax deposition Modelling
5.3.6 Bio Printing
6.1 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.2 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.3 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 South Korea
6.3.6 Australia
6.4 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Mexico
6.4.4 Argentina
6.5 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.1 Stratasys Ltd.
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.2 3D Systems Corporation
8.3 Materialise NV
8.4 Envisiontec GmbH
8.5 Eos GmbH Electro Optical Systems
8.6 3T RPD, Ltd.
8.7 Arcam AB
8.8 Renishaw PLC.
8.9 Concept Laser GmbH
8.10 Prodways
8.11 Renishaw PLC.
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.1 Market Outlook
10.2 Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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