(PharmaNewsWire.Com, March 08, 2018 ) Global 3D printing medical devices Market estimated to be valued US$ XX Mn in 2017 and poised to grow at CAGR of XX% over 2017-2023. Market for 3D printing medical devices is projected to reach US$ XX Mn by 2023.
3D printing is otherwise called as additive manufacturing that utilises layer-by-layer addition technique for producing the physical objects from 3D digital file. 3D printing technology is rising due to the increase in demands of the personalised medical care by providing customised medical devices based on the needs of the individuals. 3D printing technology is flourishing in many application areas in healthcare like medical, implants, drug manufacturing dental and others. Materials used for this process will vary according to the need. For instance, metals and ceramics are mostly used in dental implants to print dental crowns, own array of bio-materials are used by the medical industry. 3D printing is used to make 3D printed models of organs plan and practice of complex surgeries
A number of factors such as continuous technological advancements in 3D printing, increase in public and private investments to develop new 3D printing technologies, rise in acceptance of 3D-printed implants and organs are propelling the demand of 3D printing medical devices market. In addition, growing demand of organ transplantation, consolidation of industry by mergers and acquisitions to enhance market share in the global 3D printing medical devices market. However, high cost associated with advanced 3D printers, lack of both structured regulatory frameworks and reimbursement policies, copyright and patent issues associated with the 3D printing of patented products is expected to hamper the market growth.
Global 3D printing devices are segmented based on raw materials, technology, application, end-user, and geography
On the basis of application, 3D printing medical devices market is segmented as:
3D printing technology revolutionized manufacturing process around industry perpendicularly. In medical field 3D printing has led to development of innovative and efficient products. Ever increase in cost pressures on medical device manufacturers and their intense need to introduce innovative products has forced them to adopt 3D printing to reduce the manufacturing life cycle and to eliminate the traditional prototyping process. Increasing medical & pharma business, mainly because of increase in awareness regarding consumer health along with the increase in health issues are boosting the 3D printing equipment market.
On the basis of geographical regions 3D printing medical devices market is segmented as Latin America, Europe, North America, Asia-Pacific, The Middle East and Africa. North America is the leading consumer of 3D printing in the healthcare industry, followed by Europe. The 3D printing systems market would expect to exhibit significant growth in the Asia-Pacific and LAMEA regions, owing to the increase in number of start-up companies and its rising awareness. Factors such as increased government funding to enhance 3D printing applications in the healthcare industry, establishment of research and training centers, and raising awareness of 3D printing through conferences and events are propelling the growth of the 3D printing medical devices market in the Asia-Pacific region. However, the dearth of skilled professionals and the high cost of 3D printing systems restricts its demand in the developing Asian countries. For instance, in April 2014, the Japanese government donated $36.5 million for Japanese companies for the development of next gen 3D printers for the healthcare and the aerospace applications.
Some of the players in the global 3D printing medical devices market are FabRx Ltd. (UK), Organovo Holdings (U.S.), EOS GmbH Electro Optical Systems (Germany), EnvisionTEC, 3D Systems Inc. (Germany),, Cyfuse Biomedical K.K. (Japan), Bio3D Technologies (Singapore), Arcam AB (Sweden), and Stratasys Ltd. (U.S.)
In March 2017, 3D systems launched a next-generation dental manufacturing platform based on their Figure 4 technology
In February 2015, 3D Systems Corporation has launched an all-in-one medical 3D printer, ProJet 3510 DPPro
In September 2015, Stratasys, Ltd. launched Objet30 Dental Prime, which is a low-cost, high-quality 3D printer
Report Outline:
The report provides granular level information about the market size, regional market share and forecast from 2017-2023 The report covers in-detail insights about the competitor's overview, key findings and their key strategies The report outlines drivers, restraints, challenges, and trends that are currently faced by the industry The report tracks recent innovations, key developments and startup's details that are working in the industry The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
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