Westford USA, April 13, 2023 (GLOBE NEWSWIRE) -- SkyQuest projects that the Medical 3D Printing market will attain a value of USD 9.34 billion by 2030, with a CAGR of 16.3% over the forecast (2022-2030). The digitization of dental and medical processes has improved dramatically over time with the aim of integrating technology into the clinical workflow. Traditional procedures like surgery and dentistry are being replaced by digital ones. Direct digital manufacturing is the method of producing a physical thing directly from a digital design using computer-controlled procedures. Because of advancements in 3D printing, direct digital manufacturing is starting to replace traditional production methods as technology. It offers a special set of benefits because it removes the need to spend money on tools, reduces the time between design and manufacturing and increases productivity.
According to SkyQuest's, Zoriox Innovation Labs developed a 360-degree solution for facial restoration utilizing 3D printing technology in March 2022. The lab is made up of a group of surgeons, dentists, mechanical engineers, biomedical engineers, software engineers, graphic designers, prosthetists, and anatomists. Another important aspect that is anticipated to propel this market over the forecast period is the widespread use of hearing aids that are 3D printed using modern innovations and technical developments. Moreover, this has been the situation with dental implants. Over the course of the forecast period, these factors are likely to fuel market expansion.
Browse in-depth TOC on "Medical 3D Printing Market"
- Pages - 157
- Tables - 78
- Figures – 75
3D bioprinting machines are used in stem cells or cells grown from tissue samples. A scaffold made of collagen or a binding gel holds these cells in place. The use of bioprinted body parts and organs would enable patients' own tissue to eventually grow over the 3D-printed components and replace the cells with their own. The availability of cutting-edge 3D printing materials for dental and medical applications, the growing demand for 3D-printed products in the cosmetics and pharmaceutical industries, the prevalence of dental and orthopaedic diseases, the ease with which customized medical products can be developed using 3D printing, and the expanding use of 3D printing in the healthcare sector are the main factors driving the market's expansion.
Prominent Players in Medical 3D Printing Market
- Stratasys
- EnvisionTEC
- Koninklijke Philips N.V
- 3D Systems Inc
- EOS
- Renishaw Plc
- Materialize
- 3T Additive Manufacturing Ltd
- General Electric
- Carbon Inc
- Prodways Group
- SLM Solutions
- Organovo Holdings
- Anatomics Pty Ltd
- FIT AG
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Custom Prosthetics and Implants Segment Dominate the Market Due to Accuracy and Speed
Custom Prosthetics and Implants segment will continue to dominate the market. In order to create highly personalized prostheses and implants, 3D printing can be employed with a variety of materials, including plastics, ceramics, metals and biological materials like skin and bones. It is projected that the 3D printing of customized implants, which is luring new investors and medical device companies, will fuel the growth of this market segment.
North America is expected to continue to dominate the market throughout the forecast period due to the three major North American countries that are considered: the United States, Canada, and Mexico. This is because of the numerous partnerships between business and academic institutions in this area as well as the widespread use of 3D printing technology. The growth of 3D printing technology, more financing for its research, and a rise in the region's patient base have all contributed to its supremacy. The increase in product launches, acquisitions, and approvals by major players operating in North America are what are driving the market's expansion.
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Software and Services Segment Dominate the Market Due to Utility and Customization
In 2021, the market for Medical 3D printing was dominated by the software and services segment. The cost-effectiveness, utility, consistency, and precision of 3D printing services for medical devices are expected to drive market growth throughout the forecast period.
Asia Pacific is also anticipated to experience rapid expansion although the healthcare sector in emerging economies is growing. Government organizations are investing in creating healthcare infrastructure to protect against unforeseen pandemics and disease outbreaks.
A comprehensive analysis of the major players in the Medical 3D Printing market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
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Key Developments in Medical 3D Printing Market
- In June 2022, 3D-printed medical device provider BAAT Medical and Belgian contract manufacturer Amnovis partnered to create a novel and quick turnaround technique.
- In February 2022, Impulse AM is a posterior interbody fusion implant made of porous titanium that was 3D-printed by DeGen Medical Inc. The company focuses on augmented reality and patient-specific solutions.
Key Questions Answered in Medical 3D Printing Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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