3D Printing Medical Devices Market | 3DP Technology | 3D Printers | 3D Bioprinters – 2022

Growth of this industry are Technological advancements, increasing public-private funding, easy development of customized medical products, and growing applications in the healthcare industry. Moreover, direct digital manufacturing, the expiry of key patents in the coming years, and the growing demand for organ transplant provide significant growth opportunities in the industry.

What is 3D Printing Medical Devices Market Growth Rate?

The Global 3D Printing Medical Devices Market is expected to reach $1.88 billion by 2022 from $0.84 billion in 2017, at a CAGR of 17.5% from 2017 to 2022. However, stringent regulatory process and the dearth of trained professionals may hinder the growth of this market during the forecast period.

Market Dynamics

Drivers

  • Technological advancements in 3D printing
  • Increasing public-private funding for 3D printing activities
  • Easy development of customized medical products using 3D printing
  • Growing applications of 3D printing in the healthcare industry

Restraints

  • Stringent regulatory process for the approval of 3D-printed medical devices
  • Dearth of trained professionals

Opportunities

  • Direct digital manufacturing
  • Reconfiguration of supply chain models of medical device manufacturers
  • Expiry of key patents in the 3D printing industry
  • Growing demand for organ transplant

Challenges

  • High cost of 3D printing systems
  • Socio-ethical concerns related to the use of 3D-printed products
  • Process control and understanding

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Technological advancements in 3D printing, increasing public-private funding for 3D printing activities, and growing applications of 3D printing in the healthcare industry are the major drivers for the market.

The overall 3D printing medical devices industry is witnessing a new phase of technological developments, with the launch of technologically advanced products. In June 2017, 3D Systems (US) launched the Simbionix SPINE Mentor, a hands-on simulated training tool for minimally invasive surgical procedures. The Simbionix SPINE Mentor is a combination of medical tools and 3D printing to develop hybrid spinal surgery training solutions. Moreover, companies are also focusing on launching planning systems using 3D printing with the aim to enhance the medical surgery procedures. Moreover, launching innovative products in the market helps companies gain a competitive advantage and drive the uptake of their products.

In recent years, there has been a significant increase in public-private funding to support various initiatives in the 3D printing industry. In June 2017, the government of Quebec, Canada contributed around USD 2.299 million to establish a medical 3D printer center in Quebec. This medical center provides point-of-care 3D printing services for developing customized prosthesis. Thus, increasing research and funding activities are expected to boost the development of 3D printing products and technologies, thereby driving the growth of the 3D printing medical devices market.

3D printing techniques have empowered medical practitioners, researchers, and medical device manufacturers due to their use in dental & orthodontic treatments, orthopedic implants, tissue engineering, and drug development. Among all the healthcare applications, 3D printing is highly successful in dental practices, prosthetics, and Hearing Aids as this technology is not only cost-effective but also provides a high degree of customization as per individual needs. Thus, the increasing adoption of 3D printing across various healthcare industries is driving market growth.

Major Market Developments:

  • In May 2017, Stratasys Ltd extended its strategic partnership with Desktop Metal, Inc. (US) to accelerate the adoption and accessibility of metal additive manufacturing
  • In May 2017, EnvisionTEC launched seven new materials, namely, Silicone TG, PCL 45K RG, LT Support RG, and HT Support RG for industrial and medical 3D printers
  • In June 2017, 3D Systems collaborated with rms Company (US) to develop solid organ scaffolds for human transplantation. This will help the company to strengthen its product offerings.

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Tissue engineering products form the fastest growing 3D printed medical products segment.

Tissue engineering products

Tissue engineering involves the growth of new organs or connective tissues from a Collagen scaffold or cells to develop a functional organ for implantation. The market for this segment is mainly driven by the rising patient pool, growing ageing population, increasing demands for ligaments and tendon scaffolds, and rising number of injury cases.

Surgical Guides

Patient-specific surgical guides are built to fit the specific shape of bones using drill sleeves and slits to enhance surgical accuracy and safety. The increasing use of the digitally driven process for accurate surgical planning is the key factor contributing to its market growth.

Surgical Instruments

3D printing technologies in the medical field have been used to craft a variety of surgical tools that can be affordably tailored to match particular surgeon or patient preferences. These instruments are made using metals that are sterilizable, biocompatible, and non-toxic, and do not cause allergic reactions or shed particles. The market for this segment is mainly driven by increasing awareness among people about 3D printed products, rapid production rate, and cost benefits.

Prosthetics & Implants

3D printing is used on a large scale in manufacturing highly customizable prosthetics and implants out of a variety of materials, including biological material (such as skin and bone), plastic, ceramics, and metals. Growing demand for implants, rising ageing population, and faster replacement time are driving market growth in this segment.

Critical questions the report answers:

  • Which of the application segment will dominate the 3D printing medical devices market in future?
  • What are the growth projections for 3D printing in emerging countries? Will they have immense opportunities for the manufacturers in the coming years?

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