The 3D printing medical devices market is projected to reach US$ 6,583.50 million by 2028 from US$ 2,123.11 million in 2021; it is estimated to grow at a CAGR of 17.5% from 2021 to 2028.
Market Overview
3D printing, also known as additive manufacturing, is a technique for creating three-dimensional objects by layering raw materials together. It involves the use of a digital model or a computer-aided design (CAD) file, which guides the printer to deposit material in successive layers until the desired shape is achieved. The process of 3D printing allows for the creation of objects with very complex internal structures, which would be difficult or impossible to produce using traditional manufacturing techniques.
The flexibility of 3D printing also allows designers to make changes easily without setting any additional equipment or tools. This makes the technique ideal for rapid prototyping, as designers can quickly produce a working prototype and make changes as needed without incurring significant costs. In the field of medicine, 3D printing is becoming increasingly popular due to its ability to create patient-specific devices, such as prosthetics, implants, and surgical guides. This personalized approach to treatment can result in better outcomes for patients, as devices can be tailored to their individual needs. Furthermore, 3D printing technology can assist in the creation of complex structures that would be difficult or impossible to produce using traditional manufacturing methods. This is particularly useful in the production of medical devices, where intricate and delicate structures are often required.
Market Segmentation
The 3D printing medical devices market is categorized based on component into software and service, equipment, and material. In terms of technology, the 3D printing medical devices market is segmented into laser beam melting, photopolymerization, droplet deposition/extrusion based technologies, and electron beam melting. The 3D printing medical devices market is further classified by application into custom prosthetics and implants, surgical guides, tissue engineering products, surgical instruments, hearing aids, wearable medical devices, and standard prosthetics and implants. Based on end-user, the 3D printing medical devices market is segmented into hospitals and surgical centers, dental and orthopedic centers, medical device companies, pharmaceutical and biotechnology companies, academic and research institutes, and others.
Market Dynamics
The high occurrence of dental and orthopedic diseases has led to an increase in demand for medical devices such as implants, prosthetics, and braces. 3D printing technology provides a cost-effective and efficient method for manufacturing these devices, allowing for customized and precise designs that can improve patient outcomes. Additionally, the increasing applications of 3D printing in the healthcare sector, including the production of surgical tools and anatomical models, further contribute to the growth of the 3D printing medical devices market. These factors have resulted in a growing demand for 3D printed medical devices, driving the market growth.
Market players
The report on the 3D printing medical devices market was prepared by referring to primary and secondary sources, including the Global Agency for Orthopedic, World Health Organization, and International Society for Prosthetics and Orthotics.