3D Printing Medical Devices to Revolutionize the Medical Industry

Wed, 26 June 2019 4:55

3D printing or additive manufacturing is the process of creating three-dimensional objects from digital files, generating complex functional shapes. It offers several benefits to the medical industry by facilitating improved treatment outcomes and minimizes reintervention costs, offering potential benefits. 3D printing has four main applications in the medical industry – organ transplant, speeding up surgical procedures, producing cost-efficient surgical tools, and prosthetics.

The growing acceptance of technological advancements in the medical industry is expected to drive the demand for 3D printing medical devices during the forecast period, 2019–2026. Moreover, 3D printing organs and bioprinting of tissues are expected to create opportunities for the 3D printing medical devices market in the near future.

Regional Insights

Geographically, the 3D printing medical devices market has been segmented to North America, Europe, Asia-Pacific, and Latin America and the Middle East and Africa (LAMEA).

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North America is expected to witness significant growth in the 3D printing medical devices market, owing to growing awareness and increasing demand for 3d printed medical devices. Additionally, early technological adoption in the region’s medical sector is expected to be another factor influencing market growth. Increasing government initiatives, research and development, and the presence of major players in the region are further increasing the demand for 3D printing medical devices in the region.

In Europe, the growing adoption of technological advancements involving 3D printing technology is expected to foster the demand for 3D printing medical devices. Additionally, the introduction of state-of-the-art 3D printing in the medical industry is further enhancing the growth of the market in the region. Ongoing investments and partnerships among companies for additive manufacturing would positively broaden the spectrum of additive manufacturing applications in Europe.   

Asia Pacific is expected to witness considerable growth in the 3D printing medical device market due to the increasing adoption rate of 3D printed devices. Additionally, the growing population in countries such as China, India, Japan, and others has surged the demand for 3D printing medical devices in the region.

The LAMEA 3D printing medical devices market is slated to witness moderate growth during the forecast period. According to the Department of Economic Development — Government of Dubai (DEDC), the UAE is the regional hub chosen by the medical device industry. At present, around 18 leading MNCs are utilizing UAE as their distribution base for countries in the Middle East. Growing awareness related to technological advancements and initiatives in the medical field are expected to drive the demand for 3D printing medical devices in the near future.

Key Players

Some of the key players in the global 3D printing medical devices market are 3D Systems Corporations, Bio3D Technologies, Cyfuse Medical K.K., EnvisionTEC, Arcam AB, Materialise NV, Organovo Holdings, Inc., Oxford Performance Materials, Inc., SLM Solutions Group AG, and Stratasys Ltd.

3D Printing Medical Devices Market: Segmentation

By Component

  • Printers
  • Materials
  • Software and Services

By Technology

  • Electron Beam Melting
  • Selective Laser Melting
  • Selective Laser Sintering
  • Photopolymerization
  • Direct Metal Laser Sintering
  • Others

By Application

  • Orthopedic & Cranial Implant
  • Dental Restorations
  • Surgical Instruments
  • Tissue Fabrication
  • External Prosthesis

Regions Covered:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • U.K.
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Saudi Arabia
    • South Africa
    • Rest of LAMEA

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

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