3D Printing Medical Devices Market Assessment, By Offering, By Technology, By Material, By Application, and Forecast, 2023

The rise in demand for customized medical devices and the increase in manufacturing of advanced surgical tools are key factors driving the global 3D printing medical devices market

Wilmington, Delaware, United States, Aug. 29, 2023 (GLOBE NEWSWIRE) -- The global 3D printing medical devices market is projected to flourish at a CAGR of 16.3% from 2023 to 2031. As per the report published by TMR, a valuation of US$ 6.6 billion is anticipated for the market in 2031. As of 2023, the market for 3D printing medical devices is expected to close at US$ 1.9 billion.

3D printing is playing a crucial role in the manufacture of advanced surgical tools, revolutionizing the way these tools are designed, manufactured, and used in medical procedures. 3D printing allows for the production of highly customized and patient-specific medical devices, addressing individual patient needs and anatomical variations.

3D printing allows for rapid prototyping and iterative design processes, reducing the time and cost required to develop new medical devices. This accelerates innovation and allows manufacturers to bring new products to market more quickly.

3D printing allows for the manufacture of lightweight and ergonomic tools that reduce strain on surgeons during long procedures, contributing to surgeon comfort and preventing fatigue. The rise in demand for 3D-printed surgical instruments is anticipated to drive the global market in the near future.

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Market Snapshot:

Report Coverage

Details

Market Revenue

US$ 1.7 Bn

Estimated Value

US$ 6.6 Bn

Growth Rate - CAGR

16.3%

Forecast Period

2023-2031

No. of Pages

168 Pages

Market Segmentation

Offering, Technology, Material, Application

Regions Covered

North America,Latin America,Europe,Asia Pacific,Middle East & Africa

Companies Covered

3D Systems, Inc.,3T Additive Manufacturing Ltd,Carbon, Inc.,Cyfuse Biomedical K.K.,EnvisionTEC,EOS GmbH Electro Optical Systems,FabRx Ltd.,Materialise,Prodways Group,Renishaw plc,Stratasys Ltd.,Other Key Players

Key Takeaways from the Market Study

As of 2022, the 3D printing medical devices market was valued at US$ 1.7 billion.

In terms of technology The fused deposition modeling (FDM) technology segment held a major share, during the forecast period.

Based on application, the wearable medical devices application segment is estimated to lead the global industry in the near future.

Based on end-user, the commercial segment is expected to generate high revenue during the forecast period, due to the increased demand in restaurants, hotels, and coffee shops.

3D Printing Medical Devices Market: Key Trends and Opportunistic Frontiers

The rapid expansion of healthcare facilities in developing countries is creating value-grab 3D printing medical devices market opportunities for industry participants.

Increasing regulatory approvals for 3D-printed medical devices in various regions are boosting the market. Regulatory agencies are recognizing the potential benefits of 3D printing while ensuring safety and efficacy.

Medical device manufacturers are using 3D printing technology to rapidly prototype new device designs. This allows quick iteration and refinement, leading to faster development and better devices.

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3D Printing Medical Devices Market – Regional Analysis

North America is anticipated to hold the largest share of the 3D printing medical devices market share during the forecast period owing to the strong presence of advanced healthcare infrastructure, research institutions, and regulatory approvals.

Asia Pacific is expected to account for a significant market share in the 3D printing medical devices market. Rapidly expanding healthcare infrastructure, increasing healthcare expenditure, and rising awareness of advanced medical technologies contribute to market growth.

Competitive Landscape

The global 3D printing medical devices market is fragmented, with the presence of a small number of leading players. The leading players in the market are investing in new product development, mergers, and acquisitions to gain a competitive edge.

Transparency Market Research has profiled the following players in its global 3D printing medical devices market report:

3D Systems, Inc.

3T Additive Manufacturing Ltd

Carbon, Inc.

Cyfuse Biomedical K.K.

EnvisionTEC

EOS GmbH Electro Optical Systems

FabRx Ltd.

Materialise

Prodways Group

Renishaw plc

Stratasys Ltd.

Other Key Players

Key Developments in the 3D Printing Medical Devices Market

In August 2023 - Materialise, a 3D printing pioneer and leader in personalized medical solutions, accelerates the delivery of patient-specific medical implants to patients in the United States with the opening of a new 3D printing facility. Surgeons increasingly embrace 3D printing solutions as they recognize the added value it brings to personalized patient care, including more predictable and accurate surgical outcomes and time savings during surgery.

3D Systems has been active in the development of patient-specific solutions. The company introduced the Vantage® Ankle PSI, a patient-specific 3D-printed instrument for ankle surgeries. They also expanded their Virtual Surgical Planning (VSP) offerings for personalized orthopedic procedures.

Materialise has focused on regulatory approvals and partnerships. The company received FDA clearance for its Mimics Enlight cardiovascular planning software, allowing clinicians to create 3D-printed models for preoperative planning. Materialise also partnered with RSNA to promote the use of 3D printing in radiology.

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3D Printing Medical Devices Market – Key Segments

Offering

Hardware

Software

Services

Technology

Electron Beam Melting (EBM)

Laser Beam Melting (LBM)

Direct Metal Laser Sintering (DMLS)

Stereolithography (SLA)

Fused Deposition Modeling (FDM)

Selective Laser Melting (SLM)

Selective Laser Sintering (SLS)

Others (Photopolymerization, Digital Light Processing [DLP], etc.)

Material

Plastics

Biomaterial Inks

Metals and Alloys

Application

Surgical Tools and Guides

Prosthetics Implants

Orthopedic Implants

Wearable Medical Devices

Dentistry and Orthodontics

Others (Tissue-engineered Products, Plastic and Reconstructive Surgeries, etc.)

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About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

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