3D Printed Medical Devices Market 10-Year Forecast
3D printing is also known as additive manufacturing which is the process of making three dimensional solid objects from a digital file. 3D printing is the next-generation customization. The creation of a 3D printed object is achieved by using additive processes. In an additive process, an object is made by adding successive layers of material until the entire object is created. Each of these layers are thinly sliced horizontal cross-sections of the final object. Bio-printing is the process of using 3D printing technology by biotech firms and research institutions to create artificial organs and body parts using inkjet techniques. Layers of living cells are deposited onto a gel medium and slowly built up to form a three dimensional structure of the desired organ.
3D Printed Medical Devices Market: Drivers & Restraints
3D printing technology is a manufacturing revolution. The outlook of 3D printing of medical devices is evolving at an extremely rapid pace as the adoption among the medical communities across the globe is increasing. Patients worldwide are experiencing improved quality of care through 3D printed implants and prosthetics. The major restraint in the market is that medical devices have stringent regulations and the adoption of 3D printing technology in medical devices is governed by the rigorous verification and validation of designs and processes which are designed with particular consideration of mechanical and thermal properties, and biocompatibility.
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3D Printed Medical Devices Market: Segmentation
The global 3D printed medical devices market is classified on the basis of application type, process type and region.
Based on application, the global 3D printed medical devices market is segmented into the following:
External wearable devices
Clinical Study Devices
Implants surface texture - Complex geometry
Based on process type, the global 3D printed medical devices market is segmented into the following:
Vat Photopolymerisation
Material Jetting
Binder Jetting
Material Extrusion
Powder Bed Fusion
Sheet Lamination
Directed Energy Deposition
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3D Printed Medical Devices Market: Overview
The global 3D printing market is expected to grow at a CAGR of more than 5% in terms of revenue by 2026 end. The 3D printing technology is designed to transform most of the major industries such as healthcare, aerospace, food & beverages, FMCG products, particularly the manufacturing industry and completely change the way processes were being performed earlier. 3D printing is done by scanning the body and creating prosthetics which match the data acquired from the MRI scans of the body. In handicap patients, 3D printing technology designs patient-specific prosthetics which is a great development in the healthcare industry. Other examples of 3D printing are 3D printed set of teeth, implants, lungs and so on.
3D Printed Medical Devices Market: Region wise Overview
Geographically, global 3D printed medical devices market is classified into regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan, Middle East and Africa (MEA).U.S. represents the largest region in terms of demand for 3D printed medical devices. With major healthcare facilities in U.S. and Europe adopting 3D printed medical devices, the regions are projected to hold more than half the share collectively in the global market by 2026 end.
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3D Printed Medical Devices Market: Key Players
The key players in global 3D printed medical devices market are Stratasys Ltd., ENVISIONTEC, INC., Optomec, 3D Systems, Inc., Amedica Corporation, Oceanz, Zortrax to name a few.