3D Printing Medical Devices Market Size Worth $6,583.50 million by 2028 to Rise at a Stellar CAGR of 17.5% by 2028, Says The Insight Partners

New York, June 07, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on "3D Printing Medical Devices Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Component (Software and Services, Equipment, and Materials), Technology (Laser Beam Melting, Photopolymerization, Droplet Deposition/Extrusion Based Technologies, and Electron Beam Melting), Application (Custom Prosthetics and Implants, Surgical Guides, Tissue Engineering, Surgical Instruments, Hearing Aids, Wearable Medical Devices, and Standard Prosthetics and Implants), End-User (Hospitals and Surgical Centers, Dental and Orthopedic Centers, Medical Device Companies, Pharmaceutical and Biotechnology Companies, Academic and Research Institutes, and Others), and Geography" the global Factors such as the rising incidence of dental and orthopedic conditions and increasing applications of 3D printing in the healthcare sector drive the market growth.

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3D Printing Medical Devices Market: Competition Landscape and Key Developments

EOS GmbH Electro Optical Systems; Renishaw PLC; Stratasys Ltd.; 3D Systems, Inc.; EnvisionTech, Inc.; Concept Laser Gmbh (General Electric); 3T RPD Ltd.; Proadways Group; SLM Solution Group AG; and Cellink are a few leading companies operating in the 3D printing medical devices market. Several companies are adopting organic strategies, such as product launch and expansion, and inorganic growth strategies, such as partnerships and collaborations. These growth strategies have aided the market players in expanding their business and enhancing their geographic presence. Additionally, acquisitions and partnerships strategies help market players strengthen their customer base and increase the product portfolio.

North America has been affected by the COVID-19 pandemic like other regions. However, the situation varies from one country to another across the continent. The infection curve has been fluctuating and going from bad to worse. The pandemic posed problems for health systems across the US in 2020. The current COVID-19 outbreak has highlighted the importance of 3D printing in addressing key shortages in the medical product supply chain. The 3D-printing industry is currently focused on the US and Western Europe. In March 2020, the medical community in the US faced extraordinary shortages of personal protective equipment (PPE), PPE attachments, and medical instruments needed to treat COVID-19 patients. Manufacturing facility closures due to lockdowns and interrupted supply chains had a minor impact on the geographical growth of the 3D printing medical devices market in 2020. Established vendors like Stratasys Ltd. have backed up the increasing demand and helped to alleviate the crucial shortages of nasopharyngeal swabs and face shields. Field-ready, individually packaged, and sterile 3D-printed nasopharyngeal swabs and face shields were produced by the company.

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3D Printing Medical Devices Market: Segmental Overview

Based on component, the 3D printing medical devices market is segmented into software and services, equipment, and materials. The material segment held the largest share of 49.79% in 2021 and is expected to retain its dominance during the forecast period. Moreover, the software and services segment is estimated to register the highest CAGR of 23.1% during the forecast period. Manufacturers are continually learning about interactions between materials and the 3D printer, biocompatibility, validation processes, and creating standards for raw material suppliers. For records, 3D printing medical devices, particularly surgical instruments/cutting guides, account 2% of the biological materials.  As the3D printing materials are biocompatible, easily printable with tunable degradation rates, and morphologically mimic living tissues as per the NCBI report. The recent advancements in developing novel biodegradable materials have potential applicability in 3D printing in medicine and pharmaceuticals have grown tremendously. The material segment is further segmented into plastics material, metal and metal alloys, bioprinting biomaterials, wax materials, and others that comprises ceramics and paper.

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Increasing Applications of 3D Printing in Healthcare Sector Contributes Significantly to 3D Printing Medical Devices Market Growth

3D printers are used to manufacture a variety of medical devices, including those with complex geometry or features that match a patient’s unique anatomy. A few devices are printed from a standard design, and then multiple identical copies of the same device are made. Other devices, called patient-matched or patient-specific devices, are created from the patient-specific imaging data. The choice of technology used for 3D printing depends on many factors, including the intended use of printed products and the simplicity of the printer, among others. Powder bed fusion is the most common technology used for the 3D printing of medical devices. This technique is compatible with various materials used in medical devices, such as titanium and nylon. With 3D printing, creating patient-specific, tactile reference models from CT and MRI scans is both affordable and simple. These models provide an additional perspective that helps physicians better prepare for surgeries, resulting in drastically reduced time and cost of an actual procedure performed within an operating room. This may benefit patients through greater satisfaction, lowered anxiety, and shortened recovery time. In addition to this, the launch of new biocompatible medical 3D printing materials helps in the development of new surgical tools and techniques with the ultimate goal of improving the clinical experience during surgery. The tools that can be printed using 3D printing techniques include sterilizable fixation trays, contouring templates, and implant sizing models, which can be used to size implants in the operating room before the first cut, allowing surgeons to save time and improve accuracy during complex procedures.

In September 2021, EOS, a leading supplier for responsible manufacturing solutions via industrial 3D printing technology, announced that Ogle Models (a UK-based manufacturer of prototypes, models, and parts) has installed an EOS P 770. EOS P 770 is a laser sintering system for polymer 3D printing, enabling the production of parts of up to one meter in length.

In April 2020, SLM Solutions announced a strategic partnership with Canwell Medical, a leading medical device manufacturer in China. Through the alliance, Canwell Medical will use SLM machines to develop 3D printed surgical implant products. SLM Solutions will provide technical and application assistance, as well as research and development support to further accelerate Canwell Medical’s product certification and serial production.

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Browse Adjoining Reports:

3D Printed Drugs Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Dosage Forms (Tablets, Capsules, Multi Drug Implant, Nanoparticles, Solutions, Others); Technology (Inkjet Printing, Direct Write, Zip Dose, Thermal Inkjet Printing, Fused Deposition Modeling, Powder Bed Printing, Stereolithography (SLA), Semi Solid Extrusion (SSE)), and Geography

3D Printed Oncology Prosthetic Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Material (Polypropylene, Polyurethane, Acrylics, Polyethylene, and Others); End Users (Medical and Surgical Centers, Pharma and Biotech Companies, Academic Institutions, Hospitals, Rehabilitation Centers, and Others), and Geography

3D Printed Surgical Models Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Specialty (Cardiac Surgery, Gastroenterology, Endoscopy of Esophagus, Neurosurgery, Orthopedic Surgery, Reconstructive Surgery, Surgical Oncology, Transplant Surgery); End User (Hospitals, Specialty Clinics, Others) and Geography

3D printed medical implant systems Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Component (Materials, Services, System); Implantation Technology (Laser Beam Melting, Electronic Beam Melting, Droplet Deposition, Others); Application (Dental, Orthopedic, Cranio-Maxillofacial); End-User (Hospitals, Medical Device Companies, Research and Academic Institutes, Others)

3D Printing in Healthcare Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (System and Material); Type (Selective Laser Sintering, Photopolymerization, Thermal Inkjet Printers, Fused Deposition Modeling, Stereo lithography, Electron Beam Melting and Others); and Application (Tissues & Organs, Implants & Prostheses, Orthopedics, Hearing Aids, Drug Delivery Devices and Others), and Geography

Industrial Dental 3D Printer Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type (VAT Photopolymerization, Fused Deposition Modeling, Polyjet Technology, and Others); Application (Implantology, Orthodontics, Prosthodontics, and Others); End Use (Dental Hospitals and Clinics, Dental Research Institutes, Dental Laboratories, and Others), and Geography

Dental 3D Printing Market Forecast to 2028 - Covid-19 Impact and Global Analysis - By Product & Services (Equipment and Services), Technology (VAT Photopolymerisation, Selective Laser Sintering, PolyJet Technology, Fused Deposition Modeling, and Other Technologies), Material (Plastics, Metals and Other Materials), Application (Prosthodontics, Implantology and Endodontics), End User (Dental Hospitals & Clinics, Dental Laboratories and Dental Academic & Research Institutes), and Geography

3D Bio printing Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Type (Organ Transplantation, Tissue Engineering); Technology (Inkjet Based, Laser Based, Extrusion Based, Magnetic); Application (Clinical Application, Research Application)

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