3D Printing Medical Devices Market worth $5.1 billion by 2026
Growth in this market is primarily driven by technological advancements towards the development of biocompatible materials; increased funding, research grants, and public-private investments; and growing government initiatives to improve healthcare infrastructure of hospitals; However, the lack of skilled technicians is expected to limit market growth in the coming years. Complex regulatory frameworks that delay the approval of new 3D Printing Medical Devices are also expected to challenge market growth to a certain extent.
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.
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Based on technology, the 3D Printing Medical Devices market has been segmented into electron beam melting (EBM), laser beam melting (LBM), photopolymerization, droplet deposition or extrusion-based technologies, three-dimensional printing (3DP) or adhesion bonding, and other technologies. Among these, the laser beam melting (LBM) segment accounted for the largest share of the market in 2020. The large share of this segment is attributed to the increasing application of this technology in the dental industry and for manufacturing implants for minimally invasive surgery.
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. 3D printing is used on a large scale in manufacturing highly customizable prosthetics and implants out of a variety of materials, including biological materials (such as skin and bones), plastics, ceramics, and metals. 3D printing of custom implants—are attracting many medical device companies and new investors to purchase 3D printer is expected to drive the growth of this market segment in the coming years.
Based on End User, the 3D Printing Medical Devices market has been segmented into the hospitals & surgical centers, dental & orthopedic clinics, academic institutions & research laboratories, pharma-biotech & medical device companies, and clinical research organizations. Among these, the hospitals & surgical centers segment accounted for the largest share of the market in 2020. The large share of this segment can be attributed to the expansion of existing 3D printing laboratories, growing affordability of 3D printing services, and the rapid adoption of advanced technologies by hospitals
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 are some of the major players operating in the global 3D Printing Medical Devices market.
Stratasys Ltd. (US) has a wide range of product offerings in the 3D Printing Medical Devices market, including equipments, materials, software and services. The company sustains its key position in the global 3D printing medical devices market owing to its multiple strategic acquisition Stratasys Ltd. has a strong product portfolio, supporting around medical OEMs, hospitals and specialty clinics worldwide. The company is focused on innovations and improving the quality of its products with increasing investment in its R&D department.
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