3D Printing Medical Devices Market Size, Strategy, Overview, Trends and Forecast by 2028
Posted by Shahbaz on October 3rd, 2022
According to our latest study on “3D Printing Medical Devices Market Forecast to 2028 – COVID-19 Impact and Global Analysis – Component (Software and Services, Equipment, and Materials), Technology (Laser Beam Melting, Photopolymerization, Droplet Deposition/Extrusion Based Technologies, and Electron Beam Melting), Application (Custom Prosthetics and Implants, Surgical Guides, Tissue Engineering, Surgical Instruments, Hearing Aids, Wearable Medical Devices, and Standard Prosthetics and Implants), End-User (Hospitals and Surgical Centers, Dental and Orthopedic Centers, Medical Device Companies, Pharmaceutical and Biotechnology Companies, Academic and Research Institutes, and Others)" the market is expected to grow from US$ 2,123.11 million in 2021 to US$ 6,583.50 million by 2028; it is estimated to grow at a CAGR of 17.5% from 2021 to 2028. The report highlights the key factors driving the market and prominent players with their developments. The growth of the 3D printing medical devices market is primarily attributed due to the rising incidence of dental and orthopedic conditions and increasing applications of 3D printing in the healthcare sector. However, stringent regulatory process related to the approval of 3D printed medical devices hampers the market growth.
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As a result of the COVID-19 pandemic, the sell and implementation of 3D printing medical devices decreased in March 2020. Also, during the second quarter of 2020, hospitals focused primarily on the COVID-19 epidemic. The epidemic has resulted in a huge surge in demand for ventilators. Manufacturing facility closures due to lockdowns and interrupted supply chains had a minor impact on the geographical growth of the 3D printing medical devices market in 2020. Established vendors, such as Stratasys Ltd, backed up the increasing demand and helped to alleviate the crucial shortages of nasopharyngeal swabs and face shields. Field-ready, individually packaged, and sterile 3D-printed nasopharyngeal swabs and face shields were produced by the company.
Based on component, the 3D printing medical devices market is segmented into software and services, equipment, and materials. The materials segment held the largest share of the market in 2021. However, the software and services segment is anticipated to register the highest CAGR of 23.1% in the market during the forecast period. According to the Small and Medium Enterprises (SME) report, materials for 3D printing of medical applications are evolving over the years. Manufacturers are continually learning about interactions between materials and the 3D printer, biocompatibility, validation processes, and creating standards for raw material suppliers.
EOS GmbH Electro Optical Systems; Renishaw PLC; Stratasys Ltd.; 3D Systems, Inc.; EnvisionTech, Inc.; Concept Laser Gmbh (General Electric); 3T RPD Ltd.; Proadways Group; SLM Solution Group AG; and Cellink are a few leading companies operating in the 3D printing medical devices market.
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About the AuthorShahbaz
Joined: September 26th, 2022
Articles Posted: 71
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