3D Printed Medical Devices Market Scope
3D printed medical devices are the equipment used in a wide range of medical applications in hospitals, clinics manufactured using 3D technology. The 3D medical devices consist of human organs and tissue, surgical guides, surgical instruments, prosthetics & orthopedic implants, medical phantoms, and others. This technology process creates a 3D object by building a successive layer of raw material, and every layer is attached to the previous one until the object is complete. Medical devices are produced by digital 3D files like magnetic resonance images (MRI), and computer-aided design (CAD).
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | North America |
Largest Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | 3D Systems (United States), Zortrax (Poland), Stratasys, Ltd. (Israel), Formlabs (United States), ENVISIONTEC US LLC (United States), Materialise NV (Belgiuim), Renishaw plc (United Kingdom), Prodways Group (France) and restor3d (United States) |
CAGR | 15.9% |
3D Printed Medical Devices market companies operating in these industries are focusing more on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focusing on maintaining sustainable development. The market is highly competitive with a few players occupying the major share. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launches, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
3D Systems (United States), Zortrax (Poland), Stratasys, Ltd. (Israel), Formlabs (United States), ENVISIONTEC US LLC (United States), Materialise NV (Belgiuim), Renishaw plc (United Kingdom), Prodways Group (France) and restor3d (United States) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global 3D Printed Medical Devices market by Type , by Application (Hospitals, Clinics and Others) and Region with country level break-up.
On the basis of geography, the market of 3D Printed Medical Devices has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia Pacific region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
On 24th February 2022, 3D Systems Grows Healthcare Portfolio with Kumovis Acquisition. 3D Systems announced that it has entered into an agreement to acquire Kumovis, a healthcare-focused additive manufacturing technology startup based in Munich. With the acquisition, 3D Systems said it will add a unique extrusion technology to its polymer 3D printing portfolio and further expand offerings in the personalized healthcare market., In 2021, EOS has acquired a stake in Graz/Austria-based Metalpine. The goal is to collaborate more closely on the joint development of innovative and sustainable metal powders. and In 2021, 3D Systems Announces Acquisition of Volumetric Biotechnologies.
In 2021, Orbotech will be announcing a Roll-to-Roll manufacturing solution for Flexible Printed Circuits. This initiative will significantly strengthen its dominance in the flexible printed circuit board (PCB) market., On 26th May 2021, restor3d, a leader in patient-specific 3D printed implants, recently announced an exciting merger with Kinos Medical, a leading total ankle replacement company. This merger allows Kinos to expedite our portfolio development while combining restor3d’s advanced technologies. and In 2020, Ireland-based US medical device company Medtronic has acquired Medicrea International for an undisclosed amount. The Medicrea acquisition expands Medtronic's already deep portfolio as the advent of new digital technologies adds to the spine solutions profile as it provides custom spinal implant capabilities. Medicrea International is a spine surgery company with more than 30 FDA-approved spinal implant technologies used in more than 150,000 spine surgeries to date.
"On 13th December 2021, FDA seeks comment on the 3D printing of medical devices at hospitals, doctor's offices. The FDA's Center for Devices and Radiological Health has developed an initial outline of a regulatory approach for medical devices manufactured at the point of care using 3D printing, also called additive manufacturing. The CDRH discussion paper provides three potential scenarios in which 3D printing can be used for point-of-care device manufacturing."
Influencing Trend:
Improvement, Innovations, and Advancement in 3D Printing Process for Medical Equipment Manufacturing
Market Growth Drivers:
Growing 3D Printing Technology in Healthcare for Performing Complex Operation and Training Programmes and Demand for Fulfilling Design Flexibility and Complex Design Structure of Medical Devices for Different Applications
Challenges:
Complex Material Sourcing Affecting 3D Printed Medical Devices
Restraints:
Stringent Regulatory Guidelines & Compliances Imposed on the 3D Printed Medical Devices market
Opportunities:
Increasing Investment of Healthcare Providers and Associations in Advanced Technology such as 3D Printed Organs will Boost the 3D Printed Medical Devices Market
Key Target Audience
3D Printed Medical Devices Manufacturers, 3D Printed Medical Devices International Traders, 3D Printed Medical Devices Distributors and Suppliers, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others