3D Medical Implants Market to be valued at US$ 2,494.5 million by 2032 | Future Market Insights
The three-dimensional (3D) medical implants are medical devices that offer aids in the medical reconstruction procedures of physical faults and abnormalities of the body. The 3D medical implants are commonly additively manufactured using 3D printers; which allow to develop complex geometry features and customized implants specific to the patients’ anatomy. The 3D medical implants technology integrates virtual computer-aided surgical planning and facilitating accurate and effective treatment of the complex malformations. Furthermore, the 3D medical implants have proved to be time saving and cost saving procedures as it does not involve multi-step surgical procedures or additional surgical tools. Over the years, 3D medical implants has undergone tremendous development and is widely used in the healthcare sector. To date, FDA has granted clearance for several 3D medical implants which includes hearing aids, dental crowns, bone tether plates, skull plates, hip cups, spinal cages, facial implants, knew trays, etc.
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3D Medical Implants Market: Drivers and Restraints
The growth of 3D medical implants market is primarily driven by increase in geriatric population who are at high risk of diseases and disorders such as osteoarthritis, loss of hearing and others. In addition, rise in rate of accidents across the globe, leading to the need of medical implants is anticipated to fuel the 3D medical implants market. The increasing trend of end product customization owing to the low cost and less time consumption procedures, better fit, improved performance and just-in-time delivery leading to inventory reduction is expected to increase the demand of 3D medical implants market. Furthermore, the increasing FDA approvals and wider acceptance of 3D medical implants is expected to boost the 3D medical implants market growth.
However, the lack of skilled profession and less awareness among the people in undeveloped economies is expected to sluggish growth of this market. In addition, the significant time required for production of customized implants have limited the use of 3D medical implants in case of emergency trauma surgeries is anticipated to hinder the 3D medical implants market. Moreover, the stringent government regulations, issuance issues, reimbursement issues and high prices of 3D medical implants can also deter the growth of 3D medical implants market. Ongoing research and development associated with the 3D medical implants is expected to create new opportunities in the forecast period. To step up the research and development, the American National Institute of Health (NIH) has created the NIH 3D Print Exchange Internet Website, which enables open, comprehensive and interactive access for searching, browsing, downloading, and sharing biomedical 3D print files, modeling tutorials, and educational material.
3D Medical Implants Market: Overview
3D medical implants market is expected to show significant growth over the forecast period due to increasing prevalence of orthopedic and cardiovascular disease globally. According to World Health Organization, 17.5 Mn people died in 2016 from cardiovascular diseases. World Health Organization also stated that more than 75% cardiovascular disease occur in low-income countries which is the opportunity for 3D medical implants market to grow in Middle East region. Leading manufacturer of 3D Medical Implants focusing to expand their regional presence in the emerging geographies such as APAC and MEA by collaborating with the distributers.
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3D Medical Implants Market: Regional Overview
Based on geographic region Catheter-directed Thrombolysis market is classified into seven key regions, North, America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, Middle East and Africa. North America is expected to dominate the 3D medical implants market by region due to access to advanced healthcare facilities for the treatment of cardiac diseases. Western Europe is the second largest market for 3D Medical Implants market owing high incidences of cardiac diseases. The APEJ region is contributing significant growth rate for 3D medical implants market owing to rising geriatric population in India and China. Latin America and MEA is the least lucrative market for 3D Medical Implants owing to lack of awareness among the people.
3D Medical Implants Market: Key Players
Increasing mergers and acquisitions and introducing innovative marketing strategies are some of the strategies taken by key market players to increase their consumer base. For instance, in December 2017 Straumann Group acquired Same Day Solutions (SDS), a dental distribution company in Portugal to increase its presence in Portuguese market. Examples of some of the market participants in 3D medical implants market identified across the value chain include Cerhum SA, Oxford Performance Materials Inc., Straumann Group, MedShape, Inc., Renovis Surgical Technologies, Inc., BioArchitects, 3D Medical Manufacturing, Inc., EOS GmbH, Stratasys Ltd., and Emerging Implant Technologies GmbH among others
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