3D Printing Medical Devices Market

Global 3D Printing Medical Devices Market Size (2022 to 2027)

The global 3D printing medical devices market is forecasted to grow to USD 9515 Mn by 2027 from USD 2517 Mn in 2022. This market is expected to progress at a robust CAGR of 30.46% during the forecast period.

A few of the key insights from this report:

• North America accounted for 42.8% of the global market share in 2021.
• The European region is anticipated to be worth USD 1837 million by 2027.
• The Asia-Pacific region is expected to grow at a CAGR of 35% from 2022 to 2027.
• Latin America and MEA are projected to grow at a CAGR of 33.08% and 28.7%, respectively.

3D printing, also known as additive manufacturing, is a layer-by-layer addition approach to turning a three-dimensional computer file into actual customized medical equipment and goods. Using a 3D scanner, digital camera, or 3D modeling software, 3D printing software builds a computer-aided design (CAD) package. Medical device 3D printing is the 3D manufacture of healthcare-related products for treatment and use, especially in healthcare applications. This manufacturing process entails various production processes/techniques, all based on producing a digital file/image of the thing to be created before converting this virtual file into physical items using various ways. Sales of 3D printed medical equipment and related services make up the 3D printed medical devices market.

Impact of COVID-19 on the global 3D printing medical devices market:

The global 3D printing medical devices market has experienced a significant decline in growth due to COVID-19.

COVID-19 has disrupted many lives in unexpected ways. During the lockdown period, many surgeries were either canceled or postponed. Due to this reason, the market's growth rate has seen a sharp decline. In addition, especially in the first half of 2020, there were restrictions in the movement where only emergency cases were treated. However, with the government's unlock guidelines in various countries, the market is picking up, and experts from the industry have predicted that the market will regain its normal position very soon.

Furthermore, coronavirus shows severe illness in people suffering from chronic diseases such as cancer. These patients undergo emergency treatment procedures where 3D printing medical devices play a vital role in increasing the surgery's success rate. These factors are expected to fuel the market's growth rate to recover faster.

MARKET DRIVERS:

Rising usage of 3D printing in the medical devices industry and increasing technological advancements are thriving in the growth of the 3D printing medical devices market.

The adoption of 3D printing has increased in medical device manufacturing due to the fall in the price of 3D models and the availability of a broad range of material options. For Instance, according to the American Society for Aesthetic Plastic Surgery, many women in the U.S. perform breast augmentations, the most common surgical procedure in women. The usage of these 3D implants helps avoid complications and reduces the time taken for the surgery. According to the Organ Procurement and Transplantation Network (OCTN), an increasing number of patients with organ transplantation in the U.S. will continue in the coming years. The U.S. FDA has reviewed over 100 medical devices made using 3D printers under knee replacements and cranial implants categories. In addition, FDA has approved 3D-printed titanium implant devices and 3D systems.

The rising demand for patient-specific orthopedics and maxillofacial surgery products are also major driving factors boosting the medical 3D printing market. Besides, the latest technological advancements, growing awareness about the new developments, diversity of materials that range from polymers to living tissue, supportive policies, and government funding are also helping market growth. 3D printing is a computer-aided design approach for creating three-dimensional medical items. For Instance, orthopedic implants and cranial implants, surgical equipment, dental restorations such as crowns, and external prostheses are 3D-printed medical items. Furthermore, it has various advantages over traditional reconstructive operations, including reducing operating risks during complex operations, infection susceptibility, and aesthetic exposure time. Due to this, patients would be able to heal faster and spend less time in the hospital. Furthermore, 3D printing technology allows surgeons to enhance their results. These factors lead to the growth of the market.

Furthermore, increasing incidences of chronic diseases and a patient's well-being after surgeries are key driving factors for the market to grow. Additionally, the increasing demand for manufacturing high-quality equipment in less time for various medical sector applications fuels the market's growth rate. Furthermore, increasing support from private and public organizations in maintaining advanced equipment, increasing the geriatric population, and the rise in emergency cases with injuries are likely to bolster the growth of the 3d printing medical devices market.

MARKET RESTRAINTS:

The high costs involved with installing and maintaining 3D printing medical devices are a significant impediment to the market's growth. In addition, rapid economic strategies, lack of availability of 3D printed medical devices in emerging countries, lack of refund policies, and limited technical expertise may also negatively impact the development of the 3D printing medical devices market.

REPORT COVERAGE:

This research report on the global 3d printing medical devices market has been segmented & sub-segmented based on the product, material, technology, and Region.

3D Printing Medical Devices Market - By Product:

• Medical Implants
  • Orthopedic Implants
  • Dental Implants
  • Craniomaxillofacial Implants
• Prosthetics
• Tissue Engineering
• Surgical Instruments
• Surgical Guides
• Hearing & Audibility Aid

Based on the product, the segment of 3d printing surgical instruments has been growing tremendously in recent years. As a result, 3D printing has been used in surgery for surgical instruments, for which this Technology has been potentially applied, leading to its profound utility in surgery.

In contrast, the surgical guides segment is estimated to account for a substantial global market share during the forecast period. Increasing demand for minimally invasive surgeries directly boosts the demand for 3D printing medical devices. A 3D-printed medical device from patient-specific DICOM data is called a surgical guide, which not only helps in the precise placement of the implant as in the case of bone structures but also plays an essential role in pre-surgical planning and its simplification.

The tissue engineering segment is also anticipated to account for a substantial share of the market due to its wide application with the combination of elements of medicine and biology, belonging to a group of relatively new fields of human activity. Therefore, tissue-engineered (TE) scaffolds are of enormous importance with the fundamental goal of promoting the development of methods for regenerating damaged complex tissues and organs, especially non-regenerative ones, in a reproducible and precise manner.

3D Printing Medical Devices Market - By Material:

• Plastics
• Biomaterials
• Metal & Metal Alloys
• Ceramics
• Nylon
• Wax

Based on the Material, the plastics segment is estimated to account for most of the global market during the forecast period. Factors such as increasing R&D and enlarging the customer base rise within a short period influence market growth. However, unfavorable government reimbursement policies and printers' high costs may hamper the market growth over the foreseen period. Some commonly used printing filaments are Polycarbonate, PLA, Lactic acid-based polymers, and Polyvinyl Alcohol, which are a biocompatible and biodegradable form of plastics, therefore, widely used in pharmaceutical applications.

The biomaterials segment is foreseen to account for a leading share of the market during the forecast period owing to the high use of Bio inks, loaded with cells and other biological materials, used for 3D printing for the deposition of small cell units, allowing the work to be done with minimal process-induced cell damage and precision.

3D Printing Medical Devices Market - By Technology:

• Laser Beam Melting (LBM)
• Electron Beam Melting (EBM)
• Droplet Deposition               
• Photopolymerization             
• Wax deposition Modelling       
• Bio Printing             

Based on technology, the electron beam melting segment is estimated to register a significant global market share during the forecast period. The rise in dental institutes and the growing demand for dental crowns and bridges are escalating the market's need. The EBM process is particularly suitable for small batch production of complex orthopedic implants through an electron beam, which is several times more potent than a laser, for producing perfectly dense and exact layer-by-layer melting of powder to produce parts, ultimately leading to faster print speeds.

The laser beam melting is anticipated to hold a substantial share of the global market during the forecast period. Laser beam melting is an additive manufacturing process for digitally cutting 3D components into 2D layers. Due to its high-performance laser, it becomes Ideal for producing solid functional parts with complex geometries, exposing surfaces of the 2D layers. Saving printing and post-processing time without the requirement of support is the reason behind its high adoption.

3D Printing Medical Devices Market - By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Geographically, the North American 3d printing medical devices market led the global market in 2021 and is estimated to continue its dominance throughout the forecast period due to the quick adoption of the latest Technology and the launching of various devices in favor of the end-users. For Instance, North America is the leading consumer of 3D printing technology in the healthcare industry and will account for nearly 43% of the total market share in 2021. Furthermore, the most developed nations can grow due to technological advancements and a strong existing installed base of 3D printers in healthcare settings in the coming few years.

The European 3d printing medical devices market was the second primary market for medical 3D printing applications in 2021 and is expected to grow enormously during the forecast period. This is attributed to a stable R&D environment, solid technological advancements, and a high level of innovation.

Simultaneously, the emerging economies of the Asia-Pacific region offer a significant market and are always a target for future growth. As a result, the APAC 3d printing medical devices market is estimated to grow at a significant CAGR of 35% during the forecast period. India, China, and Japan are expected to play a vital role and put the APAC region as one of the dominating regions in the global 3D printed medical devices market. With the growing demand for healthcare services, the establishment of new 3D printing research, training, and academic centers, strong growth in demand for medical devices, and the high efforts of leading major vendors to expand their distribution networks and product portfolio in the Region, the Region, being a prime location for manufacturing and supplying medical companies are the factors driving the growth of the market.

At the same time, the Latin American 3d medical devices market is estimated to be worth 781.85 million USD by the end of 2027. Furthermore, the expansion of operations by several vendors, and implementation of favorable regulations, not only in Latin America but also in the regions of the Middle East and Africa, such as the rule of using 3D printing to operate four-vein brain aneurysm patients successfully, have been made mandatory in the hospitals of Dubai, to determine how to navigate in safely in the blood vessels, is further expected to show lucrative growth of 3D printing medical devices market.

The MEA 3d printing medical devices market is anticipated to grow at a moderate CAGR during the forecast period.

KEY MARKET PLAYERS:

Companies such as 3D Systems Corporation (U.S.), Stratasys Ltd., Renishaw plc (U.K.), EOS GmbH Electro Optical Systems (Germany), EnvisionTEC GmbH (Germany), Materialize NV (Belgium), Arcam AB (Sweden), 3T RPD, Ltd. (U.K.), Prodways (France) and Concept Laser GmbH (Germany) are currently leading the global 3D printing medical devices market.

RECENT HAPPENINGS IN THE MARKET:

• In November 2022, D Systems partnered with We matter to affordably expand 3D Systems' Selective Laser Sintering (SLS) portfolio in Europe, the Middle East, and Africa (EMEA).
• In November 2022, Chromatic 3D Materials announced a new range of 3D printers, RX-Flow, for low-volume industrial production and development work more durably and flexibly.
• In November 2022, Velo3D, Inc. ordered two new Sapphire XC printers to reduce manufacturing cycles and enable faster product development times significantly.
• In October 2022, 3D LifePrints received FDA clearance for the EmbedMed personalized surgery platform, allowing faster and personalized digitization of surgical planning to patient-specific devices.
• In February 2020, Stratasys Ltd announced the J826 3D printer launch. This J826 is designed to develop advanced medical equipment with the exceptional print quality and boost patient care excellence.
• In April 2019, Renishaw integrated with Yorkshire Dental Laboratory to digitize the design and production of removable partial dentures to achieve more quickly and with good quality RPDSs.
• In June 2017, the United States-based leading manufacturer of 3D printing platforms, EnvisionTEC, announced the M-Type disposable material tray for a different range of desktop machines to strengthen their position in the market.