Report

Global 3D Printing Medical Devices Market Size study, by Product by Technology by Application and Regional Forecasts 2022-2032

  • Publish Date: Sep,2024
  • Report ID: 3-3-1792
  • Page : 200
  • Report Type : PDF (Email)
The global 3D printing medical devices market was valued at approximately USD 3.76 billion in 2023 and is projected to grow at a robust CAGR of 13.9% over the forecast period 2024-2032. This market encompasses the production of medical tools and implants using additive manufacturing techniques, enabling the creation of patient-specific devices, including prosthetics, implants, and surgical instruments. The versatility of 3D printing technology extends to the production of biocompatible implants for orthopedics and dental applications, as well as the creation of anatomical models for surgical planning and education. Moreover, the technology facilitates rapid prototyping, accelerating innovation and development in the medical field, enhancing precision, reducing costs, and improving patient outcomes.

The rising prevalence of surgical procedures globally is a significant driver for market growth. Increased incidents of road accidents, kidney stones, and other health issues necessitate surgical interventions, thereby driving demand for 3D printed medical devices. Additionally, growing investments in research and development, particularly in developed and developing economies, are fostering market expansion. Public-private partnerships for healthcare infrastructure development, especially in emerging economies, are further bolstering market growth. The introduction of novel technologies for stem cell preservation and storage, driven by collaborative efforts from public and private entities, also supports market advancement.

The market is poised to benefit from numerous opportunities, including increased public-private funding for target research activities, heightened awareness of 3D printing benefits, and a rise in orthopedic and dental disease prevalence. Advanced 3D printing materials for medical applications, an expanding geriatric population, and continuous product innovations driven by technological advancements are expected to create lucrative opportunities. Additionally, the rise of direct digital manufacturing and increasing healthcare applications of 3D printing, coupled with growing per capita healthcare expenditure, are anticipated to further fuel market growth. However, several challenges may impede market growth. High costs associated with research and development, limited infrastructural facilities, and uneven distribution of medical services in underdeveloped economies are significant barriers. Moreover, unfavorable reimbursement scenarios, high capital investments, stringent regulatory frameworks, limited insurance coverage, and inadequate infrastructure in low- and middle-income countries pose further challenges.

North America dominated the market in 2023, accounting for 53% of the global revenue, driven by favourable government recommendations, substantial R&D investments, and a well-developed healthcare infrastructure. Increased awareness campaigns in the region also contribute to market growth. The Asia Pacific region is expected to experience significant growth during the forecast period, driven by a rising paediatric population, government initiatives to combat disease prevalence, and efforts from non-profit organizations to raise awareness and promote vaccination adoption.

Major market players included in this report are:
Stratasys Ltd. (Israel)
EnvisionTEC (US)
3D Systems, Inc. (US)
EOS (US)
Renishaw plc (UK)
GE Additive (US)
Desktop Metal, Inc. (US)
CELLINK (Sweden)
Formlabs (US)
Materialise (Belgium)
3T Additive Manufacturing Ltd. (US)
GENERAL ELECTRIC COMPANY (US)
Carbon, Inc. (US)
Prodways Group (France)
SLM Solutions (Germany)
The detailed segments and sub-segment of the market are explained below:
By Product:
3D Printers
3D Bio-printers
Material
Software & Services
By Technology:
Laser Beam Melting
Photo Polymerization
Three-dimensional Printing
Electron Beam Melting
Droplet Deposition
By Application:
Surgical Guides
Surgical Instruments
Standard Prosthetics & Implants
Tissue-engineered Products
Hearing Aids
External Wearable Devices
By End User:
Hospitals
Academic Institutes
Contract Research Organizations
Pharma & Biotech Companies
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Middle East & Africa
Saudi Arabia
South Africa
RoMEA
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.