DUBLIN–(BUSINESS WIRE)–The “Global 3D Printing Medical Devices Market by Component (3D Printer, 3D Bioprinter, Material, Software, Service), Technology (EBM, DMLS, SLS, SLA, DLP, Polyjet), Application (Surgical Guides, Prosthetics, Implants), User (Hospital, ASCs) – Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.
The 3D Printing Medical Devices market is projected to reach USD 5.1 billion by 2026 from USD 2.4 billion in 2021, at a CAGR of 16.3% during the forecast period.
Growth of the market is mainly attributed to technological advancements; growing public and private investments and funding are driving the global 3D Printing Medical Devices market. However, complex regulatory frameworks that delay the approval of new 3D Printing Medical Devices is expected to challenge market growth to a certain extent.
In terms of component, software & services segment to register significant growth during the forecast period
Based on the component, the 3D printing medical devices market is segmented equipment, materials, and software & services. Materials include plastics and biocompatible resins, polymers, metals and metal alloys, ceramics, wax, and other biomaterials.
3D printing medical device vendors are gaining significant profits from services when compared to the sales of printers and materials. In order to sustain in this highly competitive market, several vendors offer pay-as-you-go subscription services. Thus rising number of 3D printing service provider have led to the growth of Software and services segment.
In terms application, customizable prosthetics and implants segment to register significant growth during the forecast period
Based on the application, the 3D Printing Medical Devices market is segmented into surgical guides, surgical instruments, standard prosthetics and implants, custom prosthetics and implants, tissue-engineered products, hearing aids, wearable medical devices/implantable medical devices, and other medical devices. The customizable prosthetics and implants segment accounted for a larger share in the market in 2020. The use of 3D printing in CMF implants is increasing in the medical and dental fields. Using this technology, bioresorbable and small plates and screws are fixed, which help maintain the 3D shape of the bone in the craniofacial skeleton. These implants can be manufactured quickly and cost-effectively, and are sterilizable.
Laser beam melting (LBM) segment is expected to account for the largest share of the 3D Printing Medical Devices market, by the architecture
On the basis of technology, the 3D Printing Medical Devices market has been segmented into electron beam melting (EBM), laser beam melting (LBM), photopolymerization, droplet deposition or extrusion-based technologies, three-dimensional printing (3DP) or adhesion bonding, and other technologies. The LBM market is further segmented into direct metal laser sintering (DMLS), selective laser melting (SLM), selective laser sintering (SLS), and LaserCUSING.
LBM is the most commonly used technology for the manufacture of metal and plastic parts, such as small-sized prosthetics or implants, surgical instruments, and porous scaffolds in tissue engineering. It is the best-suited technology for the production of small parts, such as dental copings and hybrid parts of machines for minimally invasive surgery, due to its high accuracy. The growth of this segment is attributed to suitability for a wide range of materials available for 3D printing, and it does not require post-processing of materials.
Asia Pacific market is expected to grow at the highest CAGR during the forecast period
The Asia Pacific market is estimated to grow at the highest CAGR during the forecast period majorly due to growth of 3D printing service providers and favourable investments scenario and evolving healthcare infrastructure in China, Japan, and India.
Market Dynamics
Drivers
Increasing Public-Private Funding for 3D Printing Activities High Incidence of Orthopedic and Dental Diseases Easy Development of Customized Medical Products Using 3D Printing Growing Applications of 3D Printing in the Healthcare Industry Availability of Advanced 3D Printing Materials for Dental and Medical Applications Increasing Demand for 3D-Printed Products in Cosmetology and the Pharmaceutical Industry Restraints
Shortage of a Skilled Workforce Due to Limited Specialized Training in Additive Manufacturing Stringent Regulatory Process for the Approval of 3D-Printed Medical Devices Opportunities
Direct Digital Manufacturing Increasing Adoption of CAD/CAM Technology and Desktop Printers Consolidation of Dental Laboratories and Hospitals Growing Demand for Organ Transplants Expiry of Key Patents in the 3D Printing Industry Challenges
High Capital Investment and Operating Costs Rising Number of Large Medical Practices Socio-Ethical Concerns Related to the Use of 3D-Printed Products Companies Mentioned
3D Systems Corporation 3T Additive Manufacturing Ltd. Biomedical Modeling, Inc. Carbon, Inc. Cellink Dentsply Sirona, Inc. DWS Systems SRL Envisiontec EOS GmbH Formlabs GE Additive HP Inc Materialise NV Organovo Holdings, Inc. Prodways Group regenHU Renishaw Roland DG SLM Solutions Group AG Stratasys Ltd. For more information about this report visit https://www.researchandmarkets.com/r/atp7u