Sales of 3D Printed Medical Devices to Quadruple Through 2029
The global landscape of 3D printing or additive manufacturing will soon represent a multi-billion-dollar industry. Its application in the medical devices sector has been creating a lucrative opportunity for manufacturers. In 2019, 3D printed medical device sales would account for revenues of over US$ 400 Mn, which will experience fourfold growth towards the end of forecast period (2019 - 2029). As 3D printing technology helps medical device manufacturers to achieve high complexity, high sterilization, and digital monitoring, all at reduced overall costs, the investments in 3D printed medical devices will continue to gather traction.
Key Factors Shaping 3D Printed Medical Devices Market
3D Printed Medical Devices Revolutionizing Surgical Practice
Medical uses of 3D printing technology are revolutionizing healthcare industry by providing benefits such as customizations, personalization of medical products, and increased productivity. Some studies suggest that custom surgical guides and medical models with 3D-printing technology will become standards for diverse surgical procedures such as joint replacement, cranial implants, spinal surgeries, and cardiac surgeries in next few decades.
As of now, application of 3D-printing in operating room is restricted to only few procedures, but surgeons can plan their procedure in advance resulting in minimal manual error and faster completion of surgery. Surgeons, prior to a complex surgery, study CT scan data of a patient’s blood vessels, bone or other organs by converting it to a digital file with the help of 3D-printing, which can be studied and manipulated. Through printed custom tools and guides, 3D Printed Medical Devices are the perfect fit for surgeries involving cutting and drilling such as joint replacement surgeries.
Favorable Government Initiatives
In order to accelerate innovation in 3D printing technology, government and non-profit organizations are collaborating resources and developing new standards. For instance, in March 2016, the National Additive Manufacturing Innovation Institute and ANSI (American National Standard Institute) launched AMSC (Additive Manufacturing Standardization Collaborative) a cross-sector coordinating body whose aim is to cater to consistent stakeholders’ demand and facilitate growth.
Similarly, in China, government is providing funding for establishment of manufacturing facility for production of biomaterials and study of 3D printed organs and tissues. In 2013, the Ministry of Science and Technology of China announced investment of US$ 6.5 million in 3D printing research and development. Such initiatives are expected to enhance existing standards and identify gaps in the industry, which in turn is expected to boost the coordinated growth of stakeholders in the 3D printed medical devices market.
Launch of Innovative 3D Printers
Several 3D printed medical devices companies are now focusing to launch innovative high speed 3D printers. In last few years, 3D printing technology has been extensively preferred by doctors and patients to accurately plan and perform reconstructive surgery. Therefore, manufacturers of 3D printed medical devices are now increasing their reliance to launch 3D printers and devices as part of their broader manufacturing strategy.
For instance, in February 2018, 3D Systems Inc. launched a next-generation 3D printer called Next Dent 5100, powered by Figure 4 technology specifically designed for dental labs. This revolutionary device offers best in class performance and speed at an affordable price point.
3D Printed Medical Devices Market Structure Analysis
- Key players are focusing on strengthening their position by establishing new facilities in North America. In order to increase their revenue share, major players in North America are entering into agreements with hospitals and academic institutes.
- Various manufacturers are targeting Asia and Europe through distribution agreements with local players.
- Some of the key players in the 3D printed medical devices market include 3D Systems, Inc., EnvisionTEC, and EOS GmbH Electro Optical Systems among others.
- Large medical device manufacturers are increasingly gaining interest in 3D technology for manufacturing. These medical device companies are thus investing in 3D technology through acquisitions. For an instance, GE Healthcare acquired 95% of share of Arcam AB in December 2017.
Visibly Rising Inclination Towards Biomaterial Inks
Increasing adoption rate of 3D printed medical devices in various medical applications such as 3D printed orthopedic devices asl well 3D printed dental devices has been triggering innovations in the same, particularly in biomaterials that are used in their manufacturing. Offering superior efficiency, metals and alloys accounted for over 65% revenue share in market. Manufacturers’ preference for biocompatible metals and alloys is primarily attributed to the fact than metal enables immediate mobilization of patients with ultimate support and prevents complications. Bioprinting is emerging as a popular technique of manufacturing 3D printed medical devices, which is pushing preference for biomaterial inks among manufacturers.
North America Remains Goldmine of Opportunities
The growth of healthcare industry has been exploding in developed regions that are adopting a value-based business model. Of late, healthcare organizations have been undertaking a research-based approach towards improving their surgical outcomes. This is triggering the adoption of 3D printed medical devices among end users in developed regions such as North America and Europe. In 2018, both these regions accounted for over 3/4th revenue share in global market and the trend will continue through 2029.
In Sync with Personalized Medication Trend
While manufacturers are introducing improved designs of 3D printed medical devices, they now intent to sync with the latest industry trend, i.e. personalization. Customized or patient-specific 3D printed implants have been here for a while and they continue to allow the 3D printed medical devices manufacturers to boost surgical outcome. Leading market players are intensifying their focus on devices catering to patient-specific requirements in a particular application. This would help them ride the coattails of trends in the personalized medicine landscape.
Metals and alloys widely used
Adoption of biomaterial inks to surge
Orthopedic implants prominent application area
Cranio-maxillofacial implants gaining significant demand
Adoption of digital light processing maximum
Stereolithography to witness significant adoption
How Growth will Unfold
Increasing adoption of 3D printing technology in various surgical implants is expanding the scope for innovation. Heavy investments in orthopedic implants will continue to account for more than 60% of market revenues during the forecast period. Leading market players are increasing the use of novel additive manufacturing technique for introducing 3D printing based patient-specific orthopedic implants to leverage this trend, over the course of following years.
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
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3D Printed Medical Devices Market: Global Industry Analysis 2014-2018 & Opportunity Assessment 2019-2029
A recent market study published by Future Market Insights (FMI) on the 3D printed medical devices market offers global industry analysis for 2014-2018 & opportunity assessment for 2019-2029. The report consists of a comprehensive assessment of the most important market dynamics. On conducting thorough research on the historical as well as current growth parameters of the 3D printed medical devices market, growth prospects of the market are obtained with maximum precision. The report features unique and salient factors that may make a huge impact on the development of the 3D printed medical devices market during the forecast period. It can help market players modify their manufacturing and marketing strategies to envisage maximum growth in the 3D printed medical devices market in the coming years. The report provides detailed information about the current and future growth prospects of the 3D printed medical devices market in the most comprehensive way for better understanding of readers.
3D Printed Medical Devices Market Taxonomy
FMI’s study on the 3D printed medical devices market offers information divided into five important segments - application, material type, technology, end user, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.
- Orthopedic Implants
- Dental Implants
- Carnio-Maxillofacial Implant
- Metals and Alloys
- Biomaterial Inks
- Stereolithography (SLA) – Liquid-based 3D Printing
- Selective Layer Sintering (SLS) – Powder-based 3D Printing
- Digital Light Processing(DLP)
- Fused Deposition Modelling (FDM)-Plastic Filament Extrusion-based
- PolyJet - InkJet 3D Printing
- Electronic Beam Melting (EBM)
- Ambulatory Surgical Centers
- Diagnostic Centers
- North America
- Latin America
- Western Europe
- Eastern Europe
- Middle East and Africa
The report commences with the executive summary of the 3D printed medical devices market report, which includes the summary of key findings and key statistics of the market. It also includes the market value (US$ million) estimates of the leading segments of the 3D Printed medical devices market.
Readers can find detailed taxonomy and the definition of the 3D printed medical devices market in this chapter, which helps readers understand the basic information about the 3D printed medical devices.
This chapter explains the key macroeconomic factor influencing the growth of 3D printed medical devices market over the forecast period. Along with this section highlights drivers, restraints, and opportunity analysis for 3D printed medical devices.
This section explains the global market value analysis and forecast for the 3D printed medical devices market during the forecast periods of 2019-2029. Along with the historical market and opportunity analysis of the future. Readers can also find the absolute $ opportunity for the current year (2019), and an incremental $ opportunity for the forecast period (2019–2029).
This chapter explains how the 3D printed medical devices market will grow across various geographic regions such as North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, and the Middle East & Africa (MEA).
Based on application, the 3D printed medical devices market is segmented into orthopedic implants, dental implants, and carnio-maxillofacial implant. In this chapter, readers can find information about a detailed analysis of the market by different application of 3D printed medical devices and their growth over the forecast period.
Based on material type, the 3D printed medical devices market is segmented as metals and alloys, biomaterial Inks, and plastics. This section helps the reader to the penetration of different materials for 3D printed medical devices in the market over the forecast period.
Based on technology, the 3D printed medical devices market is segmented as stereolithography (SLA) – liquid-based 3d printing, selective layer sintering (SLS) – powder-based 3d printing, digital light processing(DLP), fused deposition modelling (FDM)-plastic filament extrusion based, polyjet - inkjet 3D printing, and electronic beam melting (EBM).This section helps the reader to gain knowledge about the market penetration of different technology for 3D printed medical devices over the forecast period.
Based on end user, the 3D printed medical devices market is segmented into hospitals, ambulatory surgical centers, and diagnostic centers. In this chapter, readers can find information on market attractive analysis based on end user.
This chapter includes a detailed analysis of the growth of the North America 3D printed medical devices market along with the country-wise assessment including the U.S. and Canada. Readers can also find key takeaways of this region, and market growth based on application, materials used, different technology used, end user and country of 3D printed medical devices in the North American region.
This chapter includes the growth prospects of the 3D printed medical devices market in leading countries such as Brazil, Mexico, and the rest of Latin America. Readers can find thorough information about the growth parameters of the Latin America 3D printed medical devices market during the period 2019-2029.
Important growth prospects of the 3D printed medical devices market based on its application, materials used, different technology used, end user and country in several Western European countries such as the U.K., Germany, France, Italy, Spain, Russia, Nordic, BENELUX and Rest of Western Europe are included in this chapter.
This chapter highlights the market growth of 3D printed medical devices market in Eastern Europe by focusing on Russia, Poland and Rest of Eastern Europe. This section also helps the reader understand key factors responsible for growth of the 3D printed medical devices market in Eastern Europe.
China, India, ASEAN, Rest of APEJ are the leading countries in the APEJ region that are the prime subject of assessment to obtain growth prospects of the APEJ 3D printed medical devices market in this chapter. Readers can find thorough information about the growth parameters of the APEJ 3D printed medical devices market during the period 2019-2029.
Readers can find important factors that can make a huge impact on growth of the 3D printed medical devices market in Japan based on the market segmentation, during the forecast period. This chapter provides the highlights of the key factor impacting the growth of Japan 3D printed medical devices market over.
This chapter provides information on how the 3D printed medical devices market will grow in the major countries in MEA region, such as GCC Countries, South Africa, Northern Africa, and Rest of MEA during the period 2019-2029.
In this chapter, readers can find a comprehensive list of all the leading manufacturer in the 3D printed medical devices market along with detailed information about each company, including company overview, revenue shares, strategic overview, and recent company developments and SWOT analysis. Market players featured in the report include Stratasys Ltd., Arcam AB (General Electric Co (GE Healthcare)), EOS GmbH Electro Optical Systems, 3D Systems, Inc. EnvisionTEC, Cyfuse Biomedical K.K, Formlabs, Inc., and FabRx Ltd.
This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the report.
This chapter helps readers understand the research methodology followed to obtain various conclusions, important qualitative information, and quantitative information about the 3D printed medical devices market.
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