Medical device 3D printing market is positioned to revolutionize the healthcare industry. It is rapidly being utilized in the medical and dentistry industries for prototyping, producing anatomical models for surgery planning, creating surgical guides, and manufacturing implants, instruments, and prosthetics. Growing demand for medical device 3D printing over traditional machining techniques is being driven by benefits including less material waste, cost effectiveness for smaller batches/more complex shapes, and improved clinical outcomes. Other important factors influencing the growth of the medical 3D printing market include the growing ageing population, steady growth in orthopaedic and dental procedures, and an improving reimbursement situation. In terms of opportunities, underpenetrated applications such as regenerative medicine and point of care 3D printing are likely to be the high growth areas of the medical device 3D printing market in the coming years.
Global Medical 3D Printing market pegged at .5-2 billion (2020) growing at lucrative rate of 15-20%. Patient-specific 3D printed implants and increasing POC adoption in 3D printing will be the main growth drivers for the medical 3D printing market.
Medi-Tech Insights’ research on medical device 3D printing market analyses it with respect to product, application, technology, end user, and region
Based on our research and interviews with industry leaders, it is clear that patient-specific implants and surgical planning are the two important applications currently available, with the US indicating the largest geographic market and China emerging very quickly as a significant medical 3D printing market.
Improving reimbursement scenario would drive the adoption of medical 3D printing
Governments (especially in developed countries) are taking steps to incentivise the use of medical 3D printing.
For instance,
- In 2019, in the U.S., Category III CPT billing codes were introduced for 3D printing. These codes were introduced for surgical planning solutions such as anatomic models and for 3D-printed anatomic guides. In the first phase, the codes would not essentially guarantee the reimbursement. However, it will serve to collect necessary data to decide on future policies for reimbursement.
“Orthopaedic and CMF surgeons are increasingly adopting surgical planning and associated tools made using 3D printing, as they understand the positive impact of patient specific solutions/products on clinical outcomes” - CEO, Leading Medical 3D Printing Company
Medi-Tech Insights’ research comprehensively analyses key areas such as investment trends and pricing intelligence in medical 3D device printing market
Despite the benefits, 3D printing's high initial cost and lack of reimbursement have been slightly restraining the growth of the medical device 3D printing market. Commercial printers usually range from ,000 to 0,000. Additionally, costs for segmentation software, lab space, resource costs, and so on are associated with fixed annual fees. Drawn by the huge promise to disrupt healthcare, many VCs/Investors have backed companies in medical device 3D printing market.
For instance,
- Lightforce Orthodontics, which enables orthodontists to use 3D printing to make custom braces for patients, raised million in Series B funding in September 2020.
- Similarly, Aspect Biosystems, a developer of microfluidic 3D bioprinting for human tissue-based therapeutics, raised million in a Series A round in January 2020.
Medical device 3D printing market offers high growth opportunities for leading as well as new players
In terms of competitive landscape, 3D Systems, Stratasys, Materialise Medical, EOS 3D, Arcam, SLM Solutions, and Concept Laser are some of the leading players in the medical device 3D printing market. On the other hand, Orchestrate 3D, Tiertime 3D, T&R BioFab, Anatomics, LIMA, Biomodel, and PVA Med are some emerging players in medical device 3D printing market. The report provides comprehensive analysis of key players with respect to business and financial overview, key growth strategies, and developments.
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