Global 3D Printed Medical Devices Market is set to experience a significant growth rate of 16.1% CAGR from 2022 to 2028, with an estimated market value of around US$ 752.5 Mn in 2022.
As per Future Market Insights’ projections, plastic materials hold a substantial share of over 69.0% in 2021 within the global market. Currently heading towards a market value of over US$ 440 Mn, the global 3D Printed Medical Devices Market is projected for stupendous growth at 16.1% CAGR during 2022- 2028. North America will remain the leading market, whereas the market attractiveness of Asia Pacific has been rising notably.
The market growth is primarily assisted by advancements in 3D printing technology, surging government spending in healthcare sector, increasing usage of these Additively manufactured printed medical devices for medical procedures, and relative simplification of the manufacturing process of 3D printed medical devices. Introduction of Computer-aided Design (CAD) for 3D printing can create trail ready devices, thereby reducing manufacturing time, time to market as well as operational cost.
Key Takeaways
- Although metals and alloys are most preferably used for medical devices, biomaterial inks are expected to gain traction during the forecast period owing to their highly biocompatible and versatile physical properties.
- PolyJet – InkJet 3D printing technology currently holds maximum share of 3D printed medical devices market. However, consistent development and adoption of innovative technologies may reduce the 3D printed medical devices market share of this technology during the forecast period.
- Use of 3D printing technology in orthopedic implants is shaping the future of medical devices market. It currently accounts for nearly half of the market value.
- The consistently expanding patient pool and growing preference for personalized implants in joint replacement surgeries will remain key boosters to growth of demand in orthopedics.
Until late 2016, the key focus of most leading players in this segment was geographic expansion through acquisition and merger. In May 2016, Johnson & Johnson announced collaboration with a subsidiary of HP Inc. for manufacturing personalized healthcare solutions at reduced costs through 3D printing techniques. J&J collaborated with Organovo to carry out feasibility study on bio printed human tissue for testing new medications to work with Carbon 3D, famous for ultra-fast Continuous Liquid Interface Production (CLIP) technology for production of custom surgical devices.
The focuses is now gradually shifting towards expansion through strategic partnerships to improve their distribution network. For instance, in 2017, Envision partnered with ScanSource, Inc. to deliver 3D printing solutions to resellers in the Americas. Similarly, in 2018, 3D Systems and Stryker announced distribution partnership for VSP (Virtual Surgical Planning) and anatomical models for carniomaxillofacial specialty.
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