USD 2.4 billion
Report ID:
SQMIG35G2100 |
Region:
Global |
Published Date: July, 2024
Pages:
157
|Tables:
101
|Figures:
71
Medical 3D Printing Market was valued at USD 4.41 billion in 2022, and is poised to grow from USD 5.13 billion in 2023, to USD 17.30 Billion by 2031 at a CAGR of 16.40% during the forecast period (2024-2031).
In the healthcare industry, it is used to produce individualized medical products and equipment. In addition, 3D printing technology meets the growing demand for medical devices that can be adapted to each patient's specific requirements.
It outperforms conventional reconstructive surgeries in a number of ways, including a shorter anesthesia exposure time, a reduction in infection risk, and a reduction in operative risks during complex procedures.
The key factors supporting the growth of the market include the availability of advanced 3D printing materials for dental and medical applications, the rising demand for 3D-printed products in the cosmetics and pharmaceutical industries, the high incidence of dental and orthopedic diseases, the simple development of customized medical products using 3D printing, and the growing applications of 3D printing in the healthcare industry.
A wide range of products, including those with intricate geometry or features specific to a patient's anatomy, are produced by medical device manufacturers using 3D printers.
After printing a small number of devices from a standard design, numerous exact replicas of the same device are made. Additional devices, also known as patient-matched or patient-specific devices, are developed using the patient-specific imaging data.
US Medical 3D Printing Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 2.4 billion
Largest Segment
Services and Software
Fastest Growth
Services and Software
Growth Rate
16.4% CAGR
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The Medical 3d printing device market is segmented By Product, Technology, Application, end user and Region. By Product, Medical 3D Printing Market is segmented in Equipment, Materials, Services and Software. By Technology, it is segmented into Laser Beam Melting, Photopolymerization, Droplet Deposition/Extrusion-Based Technologies, Electron Beam Melting, Three-Dimensional Printing/Adhesion Bonding/Binder Jetting, Others. By Application, Medical 3D Printing Market is segmented into Surgical Guides, Surgical Instruments, Standard Prosthetics and Implants, Custom Prosthetics and Implants, Tissue-Engineered Products, Hearing Aids, Wearable Medical Devices, Others. By End user, Medical 3D Printing Market is segmented into Hospitals and Surgical Centers, Dental and Orthopedic Clinics, Academic Institution and Research Laboratories, Pharma-Biotech and Medical Device Companies, Clinical Research Organization, Others. By Region, Medical 3D Printing Market is segmented on the basis of North America, Europe, Asia Pacific, Latin America.
Medical 3D Printing Market Analysis by Product
Based on the Product, The software and services dominated the 3d printing medical devices market in 2021. During the forecast period, this market is anticipated to expand due to the services for medical device 3D printing's cost effectiveness, utility, uniformity, and accuracy.
Medical 3D Printing Market Analysis by Application
Based on the Application, the Custom Prosthetics and Implants segment is likely to maintain its current dominance of the market. Plastics, ceramics, metals, and biological materials like skin and bones are just a few of the materials that can be used in 3D printing to make highly customizable prosthetics and implants. The development of this market sector is anticipated to be fueled by the 3D printing of custom implants, which is drawing in new investors and medical device businesses.
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North America is anticipated to maintain its dominance throughout the forecast period. Due to the three major North American nations that are taken into account in the United States, Canada, and Mexico, The overall market for 3D printing in healthcare is dominated by North America and is expected to remain so throughout the forecast period. This is due to numerous collaborations between academic and commercial organizations in this region and widespread adoption of 3D printing technology. This region's dominance has also been aided by advances in 3D printing technology, an increase in funding for their development, and an increase in the number of patients there. The market's expansion is fueled by the rise in acquisition, product launch, and approval by key players operating in North America.
Asia Pacific is also expected to have high growth as the healthcare industry in emerging economies is expanding. Government bodies are investing in developing healthcare infrastructure to safeguard against unpredicted pandemic and disease outburst.
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Medical 3D Printing Market Drivers
Investment in Healthcare Infrastructure to Boost Growth of Medical 3D Printing Market
Medical 3D Printing Market Restraints
Shortage of Skill to Hinder Market Growth
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Due to the presence of numerous manufacturing companies in the nation, the market for 3D printed medical devices is highly fragmented .By investing in R&D, incorporating cutting-edge technology into their products, and bringing new products to market, market leaders maintain their dominance. Partnerships, strategic alliances, agreements, mergers, and other strategies are employed.
Medical 3D Printing Market Top Players Company Profiles
Medical 3D Printing Market Recent Developments
Sky Quest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
According to our global medical 3D printing market analysis, the service and software segment dominated the market in 2021. North America is anticipated to maintain its dominance throughout the forecast period. Players in the market are competing by curating customized products for consumers. This will provide them with an edge over their competitors.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 4.41 billion |
Market size value in 2031 | USD 17.30 Billion |
Growth Rate | 16.40% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Medical 3D Printing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Medical 3D Printing Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Medical 3D Printing Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Medical 3D Printing Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG35G2100