Technological Developments to Amplify Growth of 3D Printed Orthopedic Implants Market
3D printing continues to be a profitable avenue in the global medical technology space. The development of advanced technologies along with the rise in orthopedic complications are major growth aspects boosting the demand for 3D Printed Orthopedic Implants.
A recent market study by FutureWise anticipates the global 3D printed orthopedic implants marketto register a CAGR of over 5.9% during the forecast period of 2019 to 2026.
Development of metal printing technologies, 510(k) clearance from the FDA (the US Food and Drug Administration), rise in orthopaedic disorders, development of 3D printed orthopaedic devices are factors promoting 3D printed orthopaedic implant market. The National Pharmaceutical Pricing Authority i.e. NPPA’s recent view on margins of trade and cap prices is encouraging the 3D printed orthopaedic implant's rigorous research and innovative findings activities. One of such promising results is that of dual mobility orthopaedic implants where patients with successful implants observed no or zero dislocation for at least 3 years post implants.
Additionally, the approvals of robotic surgery systems for orthopaedic implants from the FDA is positively fortifying the investments by market players to provide advanced technological assistance during the implant procedures. These factors serve as indicators that the global 3D printed orthopaedic implant market will strike a substantial growth during the forecast period.
Although the 3D printed orthopaedic implants tend to be near perfect and precisely non-invasive due to use of artificial intelligence, they tend to be highly expensive. Reducing the prices for widely required implants like knee, shoulder and hip remains on the top health care agenda for the governments and medical associations across the world. The implant and surgical guides need to be used correctly to ensure complex 3D implants provide desired comfort and results. However very few market players provide assistance to the surgical teams post sales of personalised implant kit.
Knee implants are a widespread practice due increase in the number of orthopaedic issues, rheumatic arthritis and ageing population. Hence knee implants are anticipated to grow at a healthy CAGR during the forecast period, followed by the hip implants.
Implant by material type segmentation is majorly dominated by metal segment, as titanium and calcium phosphate remain primary materials used in building regenerative implants for knees, spine hip and so on. The newer 3D printing technologies are facilitating innovative use of polymers along with bioactive materials that are anticipated to abode the global 3D printed orthopaedic implant surgeries at medical breakthrough horizons in coming years.