(PharmaNewsWire.Com, April 03, 2020 ) According to latest research report “3D Printing Medical Devices Market by Technology (3DP, EBM, LBM, Photopolymerization and DD), Component (3D Printers, 3D Bioprinters, Material (Plastic, Metal, Ceramic), Software & Services), Product Type (Prosthetics, Implant) — Global Forecast to 2022”, published by MarketsandMarkets™.
Market growth is largely driven by factors such as technological advancements, increasing public-private funding for 3D printing activities, easy development of customized medical products, and growing applications in the healthcare industry.
3D printed equipment segment is expected to grow at the highest rate during the forecast period.
On the basis of components, the 3D printing medical devices market is segmented into software & services, equipment (3D printers and 3D bioprinters), and materials (plastics, metal & metal alloys powder, bioprinting biomaterials, and others). In 2017, the software & services segment accounted for the largest share of the 3D printing medical devices market. Whereas, the 3D printing equipment segment is poised to witness the highest growth rate during the forecast period.
Photopolymerization segment was the largest contributor to the 3D printing medical devices market in 2017.
Based on technology, the global 3D printing medical devices market is segmented into five broad categories, namely, electron beam melting, laser beam melting, photopolymerization, droplet deposition (DD) or extrusion-based technologies, and three-dimensional printing (3DP) or adhesion bonding or binder jetting. The photopolymerization technology segment commanded the largest share of the global 3D printing medical devices market in 2017. This is attributed to the widespread application of this technology across the medical industry, for manufacturing surgical guides (orthopedic, dental, and CMF guides), prosthetics and implants, porous scaffolds, and dental restorations.
The surgical guides segment was the largest contributor to the 3D-printed medical products market in 2017.
By type, the 3D-printed medical products market is further segmented into four major categories, namely, surgical guides, surgical instruments, prosthetics & implants, and tissue engineering products. The surgical guides segment accounted for the largest share of the 3D printing medical devices market in 2017. The increasing use of the digitally driven process for accurate surgical planning is the key factor contributing to its market growth.
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The 3D printing medical devices market is primarily driven by factors such as technological advancements, increasing public-private funding, easy development of customized medical products, and growing applications in the healthcare industry. On the other hand, factors such as the stringent regulatory process and the dearth of trained professionals are expected to limit market growth to a certain extent.
However, direct digital manufacturing, the reconfiguration of supply chain models of medical device manufacturers, the expiry of key patents in the coming years, and the growing demand for organ transplant are expected to provide growth opportunities for players in the market.
Driver:Technological advancements in 3D printing
Various companies are increasingly focusing on developing new 3D-printed products and technologies to cater to the growing demand for 3D printing in the healthcare industry. As traditional manufacturing processes are time-consuming and expensive, major companies are engaged in the development of novel products and technologies, which are affordable and less time-consuming.
Restraint : Stringent regulatory process for the approval of 3D-printed medical devices
Stringent regulatory guidelines (especially in the US) are a major factor restraining the growth of the 3D printing medical devices market. Simple 3D-printed devices receive FDA approval, but complex devices that need to comply with a large number of FDA requirements are a hurdle for the availability of 3D-printed products on a large scale. Moreover, state legal requirements and manufacturing regulations become an obstacle for dispensing 3D-printed medicines.
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Geographically, the 3D printing medical devices market is segmented into four major regions, namely, North America, Europe, the Asia Pacific, and the Rest of the World (RoW). The Asia Pacific is one of the major high growth revenue-generating regions in the 3D printing medical devices market. The establishment of new 3D printing research, training, and education centers, and rising efforts by leading market players for expanding their distribution networks in emerging Asian countries are factors propelling the growth of the 3D printing medical devices market in Asia-Pacific.
Leading Companies
Stratasys Ltd. (Israel and US), 3D Systems Corporation (US), Materialise NV (Belgium), EnvisionTEC GmbH (Germany), EOS GmbH Electro Optical Systems (Germany), Renishaw plc (U.K.), Concept Laser GmbH (Germany), 3T RDP, Ltd. (UK), Prodways (France), Arcam AB (Sweden), Anatomics Pty Ltd (Australia), Biomedical Modeling Inc. (US), Carbon, Inc. (US), SLM Solutions Group AG (Germany), Organovo Holdings, Inc. (US) .
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