New York, NY, Jan. 04, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “3D Printed Medical Device Market By Technology (Electron Beam Melting (EBM) Technology, Laser Beam Melting (LBM) Technology, Direct Metal Laser Sintering (DMLS), Digital Light Processing, Photo polymerization): By Type (Surgical Guides, Dental Guides, Orthopedic Guides, Surgical Instruments, Scalpels, Prosthetics and Implants, Tissue Engineering Products), and By Region Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026”.
According to the research study, the global 3D Printed Medical Device Market was estimated at USD 1,130 million in 2019 and is expected to reach USD 3,510 million by 2026. The global 3D Printed Medical Device Market is expected to grow at a compound annual growth rate (CAGR) of USD 17.8% from 2019 to 2026.
The Global 3D Printed Medical Device Market Is Powered By Economic Development, Technological Advancement, Rising Investment in Research and Development in Medical Science.
3D printing is the process of manufacturing a three-dimensional solid object from a digital file. This object is created by successive adding of layers of material till the object is created. Therefore this process is also called additive manufacturing. In recent years, 3D printing has developed significantly and can now perform crucial roles in many applications, with the most important being manufacturing, medicine, architecture, custom art, and design. Complex medical devices are also created with the help of 3D printing technology. The flexibility offered by 3D printing has made it extremely popular amongst the manufacturer and designer. Modifications can be carried out without any significant changes in the process of manufacturing. Personalized medical devices that match the anatomy of the patient and other complicated devices are easily manufactured without any significant cost with help of 3D printing technology. All these advantages have generated huge interest in 3D printing of medical devices and other products such as household items and automotive tools etc.
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- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, types, end-user, applications, segments, and geography
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Medical devices that are produced using 3D printing technology include orthopedic and cranial implants, surgical instruments, dental restorations such as crowns, and external prosthetics. Medical imaging has been playing important role in the medical industry, X-ray scanning, laser scanning, CT scan, and MRI has become an essential part of medical treatment. Modern technology has increased the capability of using these foolproof images to create 3D objects. Access to this technology has unfolded the tremendous potential of the medical device industry. It has completely revolutionized the prosthetic industry, these devices can be prepared for each individual and thus increasing their efficacy. Surgical implants require precision therefore one size fits all approach fails to cure the patient, 3D printing ensures surgical implant of high precision. It has also reduced the cost of implants thus making them available, affordable, and accessible to the poor population. 3D printing is also useful in preparing the patient-specific anatomy model which could be used to study the medical problem in detail from multiple angles. It is also useful for training the professional workforce.
Top Market Players
Some of the leading and top companies in the 3D printing medical devices market contain Advanced Solutions Life Sciences, Aspect Biosystem, Cyfuse Biomedical K.K., Envisiontec, and Nano Dimension.
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3D Printed Medical Devices Market: Key Drivers and Restraints
The demand for 3D Printed Medical Devices Market share is expected to be driven by the rising demand in the healthcare industry. It is observed that since 2012, the major share in 3D printing has always has been in the medical field and this trend will be continued throughout the forecast period. Different applications in the medical field industry support this growth. Predominant application as of today is dental, orthopedic, and in the acoustic field. In recent years, 3D printing applications have become increasingly more common. The 3D printing technology has already made it possible to print surgical instruments such as hemostats, forceps, scalpel. handles, etc. Additionally, 3D Printed Medical Device is expecting tremendous growth due to heavy investment in research and development of these devices by public and private institutions and rising collaboration of industry, hospitals, and the university has streamlined the demand-oriented research. The increasing scope of research in medical science and material science has enabled product innovations and a reduction in the cost of 3D printed medical devices and has further increased its accessibility. It is observed that in the forecast period 3D printing of tissues, organs, and bones and will play an important part in the growth of the 3D Printed Medical Device market. However, bottlenecks in form of the regulatory frameworks in different jurisdictions may dampen the growth of the market, and concerns related to the biocompatibility of the material are few restraining factors.
Browse the full “3D Printed Medical Device Market By Technology (Electron Beam Melting (EBM) Technology, Laser Beam Melting (LBM) Technology, Direct Metal Laser Sintering (DMLS), Digital Light Processing, Photo polymerization): By Type (Surgical Guides, Dental Guides, Orthopedic Guides, Surgical Instruments, Scalpels, Prosthetics and Implants, Tissue Engineering Products), and By Region Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" report at https://www.fnfresearch.com/3d-printed-medical-device-market
Global 3D Printed Medical Device Market: Technology Analysis
- Electron Beam Melting (EBM) Technology
- Laser Beam Melting (LBM) Technology
- Direct Metal Laser Sintering (DMLS)
- Digital Light Processing
- Photo polymerization
Global 3D Printed Medical Device Market: Type Analysis
- Surgical Guides
- Dental Guides
- Orthopaedic Guides
- Surgical Instruments
- Scalpels
- Prosthetics and Implants
- Tissue Engineering Products
The global 3D Printed Medical Device market is experiencing significant growth that is expected to continue over the upcoming years. With a massive rise in the demand for Media and Entertainment, Construction is likely to act as a key driver of the global 3D Printed Medical Device market.
The 3D Printed Medical Device market research report delivers an acute valuation and taxonomy of the 3D Printed Medical Device industry by practically splitting the market on the basis of different, applications, industry end-user, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026.
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3D Printed Medical Devices Market: Updated Regional Analysis
In terms of geography, the North American region is seen as a major growth area in the 3D printing medical devices market owing to investments in 3D Printed Medical Devices and rising aging populations. Similarly, the European region will also be a major market with respect to medical devices such as implants. Additionally, the Asia Pacific market is anticipated to grow due to investments by major players in the markets in emerging economies.
Key Insights from Primary Research
- Increased demand for medical prosthetics and implants in a developed economy.
- Rising demand for personalized medicine is also driving the market for 3D printed medical device
- Development of research and development infrastructure in 3D printed medical device market.
Key Recommendations from Analysts
- There is a huge demand for 3D printed medical devices in applications such as prosthetics, implants, and surgical devices. Demand for organs and tissue by 3D printed medical device technology is anticipated.
- North America region is anticipated to a larger share of the 3D printed medical device market in the upcoming years.
- Prosthetics segments are seen as major driving segments of the market in the forecast period
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