3D Printed Medical Devices Market: North America to Dominate in Terms of Value Through 2027: Global Industry Analysis (2012 - 2016) & Opportunity Assessment (2017 - 2027)
- REP-GB-1501
- 2018-02-27
- 225 Pages
- Format:
- Category: Healthcare, Pharmaceuticals and Medical devices
3D printed medical devices are novel medical devices that involve process of developing three dimensional solid objects from a digital model. Patient specific treatment is the main advantage of 3D printing technology in the healthcare industry. In the healthcare industry, 3D printing technology is used to develop medical devices including dental implants, orthopaedic implants, prosthetics and hearing aids. Furthermore, hospitals and academic institutes use 3D printing technology to develop various models for training purposes.
3D printed medical devices considered in the report include typically the technologies like stereolithography (SLA), selective layer sintering (SLS), digital light processing (DLP), fused deposition modeling (FDM), polyjet / inkjet 3D printing and electronic beam melting (EBM). Normally stereo lithography also called stereo lithography apparatus (SLA) is a type of technology used in additive manufacturing (AM). SLS is one type of additive manufacturing technology in which, primarily, the computer controlled laser traces the cross-section of any object onto small particles of plastic and glass, and then it develops the complete objective.
DLP is a 3D printing process used to print 3D products including medical devices. In this process, once the printer receives the 3D model, the digital light processing projector displays the image of the 3D model onto the liquid polymer material. FDM is a standard technology used in additive manufacturing. There are three steps include slicing, layering process and removing disposable support material in the development of 3D printed products using FDM technology. It builds products by melting plastic through a computer controlled extrusion head. The global 3D printed medical devices market, estimated to be worth nearly US$ 330 Mn by 2017 end, and is expected to register a CAGR of 18.1% over the forecast period of 2017–2027.
Reduction of Lifecycle Costs to Boost the Market of 3D Printed Medical Devices
Implementation of 3D printing for medical device manufacturing as compared to conventional techniques results in less material wastage in the form of process scrap by eliminating the need for expensive tooling and cutting down the number of manufacturing steps, which results in a leaner supply chain. Cost associated with conventional manufacturing includes expenses for CNC programming of machines, creating CAM programs, transit time and costs for multiple operations, labor costs and program management costs for multiple vendors, which can be eliminated by 3D printing.
Reduction of Time to Reach the Market Also a Significant Advantage of 3D Printing of Medical Devices
Currently, with the help of 3D printing, medical device manufacturers are able to create ‘clinical trial ready’ devices directly from the Computer Aided Design (CAD) data. This helps in reducing the overall time a product requires to reach the market and also reduces the money and time invested in production tooling process. Ability of 3D printing to make prototypes without tooling results in less time to promote and reduced risk of product launch as customer preferences are assessed by testing multiple configurations and suitable product is manufactured.
Global 3D Printed Medical Devices Market Analysis and Forecast by Region
On the basis of region, global 3D printed medical devices is segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan and Middle East & Africa. North America is leading the 3D printed medical devices market. North America dominated global 3D printed medical devices due to increasing prevalence of chronic diseases. The Asia Pacific excluding Japan 3D printed medical devices market was estimated to be valued at nearly US$ 40 Mn in the year 2017 and is slated to reach a valuation of nearly US$ 163 Mn in 2027, exhibiting a CAGR of 16.3% during the period of assessment.
This report examines the global 3D printed medical devices market for the period of ten years from 2017 till 2027. The primary objective of the report is to offer updates and information related to market opportunities in the global 3D printing devices market.
Report Description
This report covers the global 3D printing medical devices market performance in terms of revenue contribution from various segments. This section also includes the analysis of key trends, drivers, restraints and opportunities, which are influencing growth of the global 3D printing devices. Impact analysis of key growth drivers and restraints are included in this report to better equip clients with crystal clear decision-making insights.
The 3D printing devices report begins with an overview of the 3D printing devices and its definitions. This section also underlines factors influencing growth of 3D printing devices along with detailing of the key trends, drivers, restraints, and opportunities. Furthermore, FMI provides a competitive landscape to the companies and their strategic developments.
The next section of the report highlights the growth trends of the 3D printing devices market by regions. It provides a market outlook for 2017–2027 and sets the forecast within the context of the 3D printing devices market. The study discusses key regional trends contributing to growth of the 3D printing devices market worldwide, as well as analyses the extent to which drivers are influencing this market in each region. Key regions assessed in this report include North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and Middle East and Africa.
Competitive Landscape
In the final section of the report on 3D printing medical devices, the ‘Competitive Landscape’ is included to provide report audiences with a dashboard view, to access the key differentiators among the competitor firms. Detailed company profiles include company-specific long-term and short-term strategies, key offerings and recent developments in the 3D printing medical devices market.
Research Methodology
To ascertain the 3D printed medical devices market size, we have also taken into account the revenue generated by the various manufacturers. The forecast presented here assesses the total revenue generated by value, across the 3D printed medical devices market. In order to provide an accurate forecast, we initiated by sizing up the current market, which forms the basis on how the 3D printed medical devices market is expected to develop in the future. Given the characteristics of the market, we triangulated the outcome on the basis of three different types of analysis; based on supply side, downstream industry demand and the economic envelope. In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse the market based on key parameters, such as year-on-year (Y-o-Y) growth rates, to understand the predictability of the 3D printed medical devices market and identify the right opportunities across the market.
Another key feature of this report is the analysis of key segments in terms of absolute dollar opportunity. This is overlooked while forecasting the market. However, absolute dollar opportunity is critical for evaluating the scope of opportunity that a provider can look to achieve, as well as to identify potential resources from a delivery perspective of the 3D printed medical devices market. The overall absolute dollar opportunity along with the segmental split is mentioned in the report.
To understand key growth segments in terms of growth and adoption for 3D printed medical devices globally, Future Market Insights has developed the 3D printed medical devices market ‘attractiveness index.’ The resulting index should help providers identify real market opportunities.
Market Taxonomy
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