VALLEY COTTAGE, N.Y. – As the medical industry continues to leverage the power of additive software and hardware in optimizing the design of prosthetics and instruments, the 3D printed medical devices market is expected to attain remarkable growth in the future. As per the findings of Future Market Insights (FMI)’s study, the global market for 3D printed medical devices is projected to earn a revenue of US$ 2 Bn by the end of 2029. The market is poised to grow rapidly at a highly notable CAGR of 16.4% over the forecast period 2019-2029.
Introduction of bio-printers in the healthcare sector has been weighing on same scale as surging adoption of 3D printed medical devices. These printers use a computer-guided pipette in order to layer living cells to create artificial living tissues in a laboratory. With significant advances in 3D printing technology, researchers have developed a 3D brain organoid that finds potential applications in disease modeling and drug discovery. These brain organoids are completely cell-based with a functional blood-brain barrier that mimics human anatomy. Such technological developments in the healthcare sector is propelling the growth of the 3D printed medical devices.
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“Use of 3d printed medical devices is becoming successful in the field of prosthetics, dental practices, and hearing aids, providing high degree of customization as per patient’s need. The need to fuel innovation and bring revolutionary products in marketplace to provide value-added patient care will continue to complement the market growth,” says FMI analyst.
Key Takeaways – 3D Printed Medical Devices Market
- Sales of 3D printed orthopedic implants are projected to cross US$ 1 Bn mark by 2028, registering a CAGR of 17.3% during the forecast period.
- 3D printing in orthopedic implants provide an opportunity of designing porous bone replacement scaffolds.
Preview Analysis of 2019 Analysis and Review of 3D Printed Medical Devices Market by Application – Orthopedic Implants, Dental Implants, and Cranio-Maxillofacial Implants for 2019 – 2029: https://www.futuremarketinsights.com/reports/3d-Printed-medical-devices-market
- Demand for 3D printed dental and carnio-maxillofacial implants will continue to grow at a very exponential rate.
- Adoption of digital light processing (DLA) technology in 3D printed medical devices is growing rapidly and expected to capture the highest market share by 2029. Owing to quick prototyping capabilities with exceptionally good accuracy, quality, and surface finishing, demand for 3D printed medical devices based on DLA technology is on the rise.
- Manufacturers are also focusing on leveraging stereolithography (SLA) and PolyJet technologies to set their products apart from the competition.
- North America is likely to lead the global 3D printed medical devices market and acquire over half of the revenue share by 2029. This growth is attributed to increase in government outlay on R&D activities and growing demand for organ transplant surgeries in the region.
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- Western Europe also continues to witness positive government spending on R&D activities for production of highly efficient 3D printed medical devices. Together, both the regions will account for more than 3/4th revenue share by 2029.
- The 3D printed medical devices market is substantially competitive in nature. Growing interest in the adoption of 3D printing technology in hospitals and ambulatory surgical centers is creating huge opportunities for potential investors.
A large number of start-ups are entering the 3D printed medical devices market, thereby compelling key players to redefine their growth strategies.
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Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.
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