3D Printed Medical Devices Market Opportunities Future Guidelines Value Chain Forecast To 2028
3D printed medical devices are devices that involve a computer-controlled process of developing three-dimensional solid objects by building layer by layer using digital model. This process is called 3D printing or Additive Manufacturing (AM) process. 3D printer starts printing from bottom of design and builds up successive layers of material until object is created. Objects can be almost anything, of any shape, geometry, or material.
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Advanced process with high degree of accuracy, efficient use of raw materials, ability to build customized products to offer patient specific treatment, and high competency techniques over traditional techniques are advantages of 3D printing in the healthcare industry. Technologies used to create 3D printed devices include stereolithography (SLA), selective layer sintering (SLS), digital light processing (DLP), fused deposition modelling (FDM), polyjet / inkjet 3D printing, and electronic beam melting (EBM). 3D printing technology is used to develop a wide variety of medical devices such as orthopedic implants, prosthetics, dental implants, and hearing aids, etc. Furthermore, 3D printing technology is also used by hospitals and academic institutes to develop models for training purposes.
Major factors driving growth of the global 3D printed medical devices market include rising prevalence of chronic diseases such as peripheral vascular diseases, diabetes-related gangrene cases, osteoarthritis, cases related to dental issues or facial disorders. In addition, factors such as increasing incidences of accidents, increasing geriatric population, rising awareness regarding personal care, and government initiatives for R&D activities and product innovations are expected to fuel growth of the global 3D printed medical devices market over the forecast period.
High cost involved for production, 3D printing software and installation are major factors restraining growth of the global 3D printing market. Moreover, lack of skilled, qualified practitioners and labors to follow standard protocol are factors restraining the global 3D printing market. However, increasing competition among major key players is expected to result in cost reduction of 3D printing products which in turn will further increase product demand.
North America market is dominating the global 3D printed medical devices market, followed by Europe. North America market is holds major share in the global market owing to high development of 3D technology, and rising demand for organ transplants across this region.
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Key players operating in the global 3D printing market include Stratasys Inc., Concept Laser GmbH, 3D Systems, Inc., Arcam AB, 3D Systems Corporation, Optomec, Microtec Gesellschaft Für Microcomputervertrieb MBH, EOS GmbH, The ExOne Company, and Materialise NV.
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