Revolutionary rise of 3D printed medical devices shaping healthcare

New Delhi: The 3D printed medical devices market is likely to expand its roots at a robust CAGR of 16.3% during the forecast period. The market holds a share of US$ 799.8 million in 2023, while it is anticipated to cross a value of US$ 3.6 billion by 2033.

The 3D printed medical devices market outlook states that the development of 3D printing for medical use has revolutionized the orthopedic and surgical infrastructure. This kind of printing delivers lighter, stronger, and safer products, such as replicas of organs, bones, and blood vessels.

The industry focuses on creating 3D-printed medical products that reduce lead time while lowering the costs of treatment. Advancements in the orthopedic section of healthcare, along with its support for modern ortho biologics products and regenerative medicines, are fueling the demand for it. Furthermore, the expanding surgical planning and customized surgery space are also consuming a significant amount of 3D-printed medical devices as it delivers better treatment options and reduces the risk of surgeries. The ongoing transformation of surgical implants has been a success as it helps in building medical clamps, forceps, needle drivers, etc.

The research report on the 3D printed medical devices market explains the market dynamics in detail. From molds, prostheses, and customizable implants, 3D printing technology has transformed the space of medical devices. Healthcare facilities and hospitals are constantly spreading awareness about the use of these devices. Digital dentistry and 3D printing biomaterials are also providing improved results to each patient’s oral cavity.

What are the Key Opportunities for 3D Printed Medical Devices Manufacturers?

The opportunistic growth in the 3D printed medical devices market is set to be enabled through the advancements in digitalized solutions in various fields, including the digitalization of dentistry and other medical procedures. The aim is to optimize the clinical workflow through automated processes. As an instance in the varied arrays of medical practices which have experienced a definitive shift from traditional forms of procedure following, the dentistry industry is taken into account. The traditional trend of dental procedures has experienced a shift in the past few years into digital dentistry as well as surgeries.

The process of direct digital manufacturing involves the integration of automated or digitally enhanced programs for the development of a physical form of a digitally designed object.

The advancements in 3D printing have enabled the direct digital manufacturing process technology and thus present a unique set of advantages which include a reduction of lag time between the process of designing as well as production. The incorporation of the 3D printing processes has also resulted in the elimination of investments in tooling, and thus increases production capability.

What are the Factors Restraining Demand for 3D Printed Medical Devices?

One of the prime factors restraining the adoption of additive manufacturing is the shortage of a skilled workforce. The issue relies on the presence of a limited resource pool available for staff who is well-versed in the process of 3D printing. This factor is further affected by the rapidly evolving 3D printing devices for medical applications in the market, in terms of material and technology.

Additive manufacturing is yet to be widely adopted, and as for the practical applications of the 3D printing process, there is a large disparity between textual and academic applications, and hence acts as a barrier for industrial applications of 3D printed medical devices.

Circling back to the valuation of a skilled workforce in the additive manufacturing process, the technicians with insufficient understanding of the process may affect the final quality of the manufactured product. Thus, the lack of a skilled workforce is a restrictive factor in terms of the overall adoption of the 3D-printed medical devices market.

3D Printed Medical Devices Market Country-wise Insights

The USA Spends High Capital for the Prosthetic Enhancements and Orthopedic Transformation

The USA is leading with a CAGR of 16.9% between 2023 and 2033 while holding the anticipated market share of US$ 1.4 billion by 2033. The USA dominated the North American region with a total market share of over 94.5% in 2021 and is projected to continue experiencing high growth throughout the forecast period. With the large presence of key players in the region, the 3D-printed medical devices market has experienced changing strategic initiatives by the manufacturers in the market space with acquisitions, collaborations, as well as investments, and outsourcing services.

What Makes China an Emerging Market for 3D Printed Medical Devices?

The emergence of Covid-19 and the Rebuilding of Healthcare Infrastructure Makes China Another Prominent Market

China held a 66.3% share in the East Asia market in 2021 and is projected to increase at a CAGR of 16.7% during the forecast period. The market is anticipated to hold a value of US$ 230.6 million by 2033. The growth of the 3D printed medical devices market in the country is attributed to the rising wave of automation and robotic assistive devices in the region of East Asia, with China as a key developer in integrated technologies. Wider adoption of 3D printed products and medical devices in the country has established a strong base in the Chinese market in the 3D printed medical devices market.

How will the 3D Printed Medical Devices Market Expand across Japan?

In 2021, Japan held an 8.1% share in the global 3D printed medical devices market and is expected to expand at a CAGR of 16.6% from 2023 to 2033. The increasing and lucrative growth is associated with the emergence of many Start-ups in the field of 3D bioprinting in the county. Recent advancements include the production of 3D printing medicines in the country, however, the validity of the process is still under supervision. The market is expected to hold a share of 291.6 million by 2033

Why is Germany Considered a Lucrative Market for 3D Printed Medical Devices in Europe?

Germany exhibited a CAGR of around 18.3% in the European 3D-printed medical devices market between 2022 and 2028. This is mainly due to rising advancements in 3D printing technologies. Also, the availability of 3D printing materials with applications in several industries like cosmetics and pharmaceuticals adds to this growth. Furthermore, the high prevalence of orthopedic patients in the country has given rise to the demand for the 3D-printed medical devices market.

The advent of orthobiologics and an Increased Number of Accidents are Propelling Segment Growth.

Orthopaedic Implants held a revenue share of 40.9% in 2021 and is expected to hold a share over the forecast period with the estimation being 44.3%. The development of orthopedic implants with customized means of applications has been possible through 3D printing technology and has hence gained traction in the adoption rate of such 3D-printed orthopedic implants globally. The segment thrives at a CAGR of 17.2% between 2023 and 2033.

The Application of Metal and Alloys Materials in Medical Devices such as Prosthetics fuels the Segment Growth

Based on material type, the metal and alloys segment thrives at a CAGR of 15.7% during the forecast period. This growth is attributed to the use of strong materials in building prosthetics, medical devices, and surgical instruments. The material is also suitable for operational equipment as it demands rugged and strong equipment.

Which Distribution Channel Benefits the Most by Employment of 3D Printed Medical Devices?

Based on the distribution channel, hospitals lead the 3D printed medical devices market with more than 57.0% market share in 2021. The incorporation of 3D-printed medical devices in a hospital ensures a lower installation cost and ensures a cost-effective means of application. Several devices incorporated in the hospitals also present optimized device-based characteristics to ensure personalized patient care based on the indications related to the disease.

Competition Scenario

The leading manufacturers in the 3D printed medical devices market have taken a stake in collaborative advances within the marketspace to ensure technological development as well as to expand production capabilities.

Latest Developments:

♦ In October 2021, 3D Systems, Inc. announced the acquisition of Volumetric Biotechnologies, in order to expand biological expertise and tissue engineering at 3D Systems.

♦ In November 2021, EOS acquired a stake in Metalpine, a metal powder producer based in Austria. The aim of this acquisition is to cooperate closely in the joint development of innovative and sustainable metal powders.

These insights are based on a report by Sabyasachi Ghosh 3D Printed Medical Devices Market by Future Market Insights.