New York, Jan. 24, 2022 (GLOBE NEWSWIRE) -- According to our new research study on “3D Printing Medical Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component [Software and Services, Equipment (3D Printers and 3D Bioprinters), and Materials (Plastics Material, Metal and Metal Alloys, Bioprinting Biomaterial, Wax Material, and Others)], Technology [Laser Beam Melting (Direct Metal Laser Sintering, Selective Laser Sintering, Selective Laser Melting, and LaserCusing), Photopolymerization (Stereolithography and Others), Droplet Deposition/Extrusion Based Technologies (Fused Deposition Modelling, Multiphase Solidification, and Low Temperature Deposition Manufacturing), and Electron Beam Melting], Application [Custom Prosthetics and Implants (Craniomaxillofacial Implants, Custom Dental Prosthetics and Implants, and Custom Orthopedic Implants), Surgical Guides (Dental Orthopedic, Craniomaxillofacial, and Spinal Guides), Tissue Engineering Products (Bone and Cartilage Scaffolds, and Ligament and Tendons Scaffolds), Surgical Instruments (Surgical Fasteners, Scalpels, and Retractors), Hearing Aids, Wearable Medical Devices, and Standard Prosthetics and Implants], and End-User (Hospitals and Surgical Centers, Dental and Orthopedic Centers, Medical Device Companies, Pharmaceutical and Biotechnology Companies, Academic and Research Institutes, and Others)”, published by The Insight Partners.
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| Report Coverage | Details |
| Market Size Value in | US$ 2,123.11 Million in 2021 |
| Market Size Value by | US$ 6,583.50 Million by 2028 |
| Growth rate | CAGR of 17.5% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| No. of Pages | 172 |
| No. Tables | 3 |
| No. of Charts & Figures | 112 |
| Historical data available | Yes |
| Segments covered | Component, Technology, Application, and End-User |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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3D Printing Medical Devices Market: Competition Landscape and Key Developments
EOS Gmbh and SLM Solutions implemented various inorganic developments, which have bought dynamic improvements 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.
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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The 3D printing medical devices market growth is driven by the rising incidence of dental and orthopedic conditions and increasing applications of 3D printing in the healthcare sector.
3D Printing Medical Devices Market: Key Insights – Impact of COVID-19 Pandemic
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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