3D Printing Medical Devices Market to grow by USD 3.96 billion from 2022 to 2027, the rising cost efficiency and enhanced productivity to drive growth -Technavio

NEW YORK, Feb. 5, 2024 /PRNewswire/ -- The 3D printing medical devices market size is estimated to grow by USD 3.96 billion from 2022 to 2027 at a CAGR of 18.81% according to Technavio. The rising cost efficiency and enhanced productivity is one of the key factors driving growth. 3D printing stands out in manufacturing due to its cost-efficiency, productivity, and unique capabilities. Its additive technique deposits materials layer by layer, facilitating the creation of intricate, freeform, and hybrid structures. The technology provides enhanced design flexibility, potential functional improvements, and cost-effectiveness by minimizing raw material wastage and processing costs. This makes it particularly valuable for creating customized implants and prosthetics used in various medical applications, including spinal, dental, and craniofacial disorders.

• High initial setup costs of 3D printing facilities are one of the key challenges hindering growth. 

North America is estimated to contribute 39% to the growth during the forecast period. The growth in the region is driven by factors such as robust healthcare infrastructure, widespread adoption of these devices in healthcare facilities, and the presence of key companies. Professional societies, like the Society for Manufacturing Engineers, actively support medical 3D printing. The aging population and the demand for advanced healthcare services further contribute to expansion.

3D Systems Corp., Anatomics Pty Ltd., Autodesk Inc., Biomerics LLC, Boston Scientific Corp., Desktop Metal Inc., EOS GmbH, Formlabs Inc., General Electric Co., Groupe Gorge, INTAMSYS TECHNOLOGY CO. LTD., MATERIALISE NV, Mecuris GmbH, Medtronic Plc, Organovo Holdings Inc., Qualtech Consulting Corp., Renishaw Plc, Schultheiss GmbH, SLM Solutions Group AG, and Stratasys Ltd. are key companies.

• The adoption of computer-aided design/computer-aided manufacturing (CAD/CAM) technology and desktop printers is a primary trend shaping the growth.

Drivers, Trends, and Challenges have an impact on dynamics and can impact businesses. Find some insights from a free sample report!

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• Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and company landscape; company product insights and recent developments; key companies; and positioning of companies
• Segments: application (orthopedic and spinal, dental, hearing aids, and others), end-user (hospitals and clinics, academic institutes, pharma and biotech companies, and others ), and geography (North America, Europe, Asia, and Rest of World (ROW))

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3D Printing Medical Devices Overview:

3D printing has revolutionized the production of medical devices, including implants and prostheses, particularly in the field of orthopedic surgery. This technology has significantly impacted healthcare by enabling the customization of medical devices to fit patients' unique anatomies, leading to better outcomes. Hospitals and clinics are adopting 3D printing to create patient-specific implants and prosthetics, improving patient care. The technology has also contributed to advancements in medical specialties, promoting economic growth in the health sciences sector. This intersection of technology and medicine has transformed clinical medicine and medical technology, offering new possibilities for patient treatment and care.

What are the key data covered in this report?

• CAGR during the forecast period
• Detailed information on factors that will drive the growth between 2023 and 2027
• Precise estimation of the size and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the 3D Printing Medical Devices industry across North America, Europe, Asia, and the Rest of the World (ROW)
• A thorough analysis of the competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of companies

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Related Reports

The Orthopedic 3D Printed Devices Market size is estimated to grow by USD 1.35 billion at a CAGR of 16.53% between 2023 and 2028. 

Dental 3D Printing Devices Market size is estimated to grow by USD 1,588.84 million between 2022 and 2027 accelerating at a CAGR of 20.5% during the forecast period.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Sizes

Five Forces Analysis

Segmentation by Deployment

Segmentation by Type

Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging trends and provide actionable insights to help businesses identify opportunities and develop effective strategies to optimize their positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable insights to identify opportunities in existing and potential areas and assess their competitive positions within changing scenarios.

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SOURCE Technavio