3D Printing Medical Devices Market : Growing applications of 3D printing in the healthcare industry
This study involved the extensive use of both primary and secondary sources. The research process involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, fundamental market dynamics, and key player strategies.
[497 Pages Report] The 3D Printing Medical Devices market is projected to reach USD 5.1 billion by 2026 from USD 2.4 billion in 2021, at a CAGR of 16.3% during the forecast period.
Increasing public-private funding for 3D printing activities, high incidence of dental and orthopedic diseases, easy development of customized medical products using 3D printing, growing applications of 3D printing in the healthcare industry, availability of advanced 3D printing materials for dental and medical applications, and the increasing demand for 3D-printed products in the cosmetics and pharmaceutical industries, are the key factors supporting the growth of the market.
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COVID-19 Impact on the global 3D Printing Medical Devices market
As a result of the pandemic, during March 2020 and throughout the second quarter of 2020, access to customers to sell and implement the 3D Printing Medical Devices diminished as hospitals became primarily focused on the COVID-19 pandemic. The pandemic has led to a significant increase in the demand for ventilators. The closure of manufacturing facilities due to lockdowns and disrupted supply chains slightly impacted the growth of the 3D Printing Medical Devices market at the regional level in 2020.
The 3D Printing Medical Devices Market is Segmented on:
Based on the component, the 3D Printing Medical Devices market is segmented into equipment, materials, and software & services. The software & services dominated the 3D Printing Medical Devices market in 2020. The cost-effectiveness, utility, uniformity, and accuracy offered by services for medical device 3D printing, is expected to fuels the growth of this segment during the forecast period.
Based on the application, the 3D Printing Medical Devices market is segmented into surgical guides, surgical instruments, standard prosthetics and implants, custom prosthetics and implants, tissue-engineered products, hearing aids, wearable medical devices/implantable medical devices, and other medical devices. The custom prosthetics and implants segment accounted for a larger share in the market in 2020.
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- In April 2021, 3D Systems (US) introduced launched titanium- and nylon-made patient-specific VSP Hybrid Guides for maxillofacial procedures
- In March 2021, Stratasys Ltd. (US) Introduced the J5 DentaJet 3D Printer PolyJet printer for dental laboratories
- In February 2021, Desktop Metal, Inc. (US) acquired EnvisionTEC (Germany). This acquisition will strengthen the company’s existing client base of 3D Printing Medical Devices
North America is expected to command the largest share of the 3D Printing Medical Devices market in 2020
The report covers the 3D Printing Medical Devices market across five major geographies, namely, Europe, North America, Asia Pacific, Latin America, and MEA. North America commanded the largest share of the 3D Printing Medical Devices market in 2020. Market growth is mainly attributed to the strong base of healthcare facilities, especially hospitals and diagnostic imaging centers, and the growing installation base for 3D printer in healthcare facilities.
Some key players mentioned in the research report are:
The major players in the 3D Printing Medical Devices market are Stratasys Ltd. (US & Israel), 3D Systems Corporation (US), GE Additive (US), Materialise NV (Belgium), Renishaw plc (UK), SLM Solutions Group AG (Germany), Desktop Metal, Inc. (US), Prodways Group (France), Carbon, Inc. (US), CELLINK (Sweden), Organovo Holdings, Inc. (US), EOS (Electro Optical Systems) GmbH (Germany), Biomedical Modeling, Inc. (US), Formlabs, Inc. (US), 3T Additive Manufacturing Ltd. (UK), DENTSPLY Sirona, Inc. (US), DWS Systems SRL (Italy), Roland DG (Japan), HP, Inc. (US), and regenHU (Switzerland) among others.