3D Printing Medical Devices Market Projected to Grow at an Approximately 29.9% CAGR Near Future

Market Research Future (MRFR) has published a cooked research report on the “3D Printing Medical Devices Market” that contains information from 2018 to 2030. The 3D Printing Medical Devices Market is estimated to register a CAGR of 29.9% during the forecast period of 2023 to 2030.

MRFR recognizes the following companies as the key players in the global 3D Printing Medical Devices Market  — 3D Systems Corporations, Stratasys Ltd, Cyfuse Medical K.K., EOS GmbH Concept, Oxford Performance Materials Inc, and Prodways Group

Market Highlights

The global 3D Printing Medical Devices Market is accounted to register a CAGR of 29.9% during the forecast period and is estimated to reach USD 6.86 billion by 2030.

The 3D printing medical devices market refers to the industry segment that involves the production and use of medical devices through 3D printing technology. 3D printing, also known as additive manufacturing, is a process of creating three-dimensional objects by layering materials based on digital models. The application of 3D printing in the medical field has revolutionized the manufacturing and customization of medical devices. It allows for the production of complex structures with high precision and accuracy, offering numerous benefits over traditional manufacturing methods.

Segment Analysis

The global 3D Printing Medical Devices Market has been segmented based Types, Components, and Technology.

The market segments of 3D printing medical devices based on types includes surgical guides, prosthetics, and others. The prosthetics segment held the majority share in 2022, contributing to around ~65-67% of the global 3D printing medical devices market revenue. The rising prevalence of chronic diseases and the rising demand for prosthetics implants in developing countries account for a large portion of this segment. Customized medical products and equipment are one of the benefits that 3D printers in medical devices provide

The global market segmentation of 3D printing medical devices based on technology includes 3D printing and others. The 3D printing segment dominated the global market in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030. One of the most recent trends in the 3D printing medical devices market is the growing use of 3D printing technology in the vertebral body sector. The spine industry is embracing 3D printing medical devices to create new innovative products that can enhance bone ingrowth and strengthen implant fixation to spine bone, thereby reducing the number of manufacturing steps and making the 3D printing technology more cost-effective across several cases.

Components have bifurcated the global 3D printing medical devices market into systems and materials. The materials segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period 2022-2030. The growing demand for the droplet deposition process has significantly increased the size of the 3D printing materials segment

Regional Analysis

The global 3D Printing Medical Devices Market , based on region, has been divided into North America, Europe, Asia-Pacific, and the Rest of the World . the North American 3D Printing Medical Devices market accounted for USD 0.5 billion in 2022 and will likely exhibit significant CAGR growth over the study period. This expansion can be attributed to a surge in the development of 3D printed wearables to meet the region's growing demand for efficient healthcare and strong R&D and promotion of new therapies. Moreover, North America is the leading manufacturing hub for highly reliable, complex, and expensive 3D-printed wearable and medical devices.

The European 3D printing medical devices market accounts for the second-largest market share due to an aging population, the rising prevalence of cardiovascular diseases, and growth in replacement and implant procedures. The region's flourishing healthcare sector has also drawn the attention of numerous medical device manufacturing firms. Rising R&D spending and increased investments in 3D printing also contribute to regional market growth for 3D printing medical devices.

The Asia-Pacific 3D Printing Medical Devices Market is expected to grow at the fastest CAGR from 2022 to 2030, owing to an increase in government initiatives to raise awareness, a rise in medical tourism, increased research activities in the region, the availability of massive untapped markets, a large population pool, and the region's growing demand for quality healthcare. Moreover, medical device companies plan to expand their regional operations as it is a prime medical manufacturing and sourcing location. Furthermore, China’s market of 3D printing medical devices held the largest market share, and the Indian market of 3D printing medical devices was the fastest-growing market in the Asia-Pacific region.

Key Findings of the Study

·         The global 3D Printing Medical Devices Market is expected to reach USD 6.86 billion by 2030, at a CAGR of 29.9% during the forecast period.

·         the North American 3D Printing Medical Devices market accounted for USD 0.5 billion in 2022 and will likely exhibit significant CAGR growth over the study period.

·         The market segments of 3D printing medical devices based on types includes surgical guides, prosthetics, and others. The prosthetics segment held the majority share in 2022, contributing to around ~65-67% of the global 3D printing medical devices market revenue.

·         3D Systems Corporations, Stratasys Ltd, Cyfuse Medical K.K., EOS GmbH Concept, Oxford Performance Materials Inc, and Prodways Group 

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