The 3D Printing medical devices market is projected to reach USD 6.9 billion in 2028 from USD 2.7 billion in 2022 with a CAGR of 17.1%
During the forecasted period. The use of multiple components, assembly steps and manufacturing processes are common in traditional manufacturing techniques. 3D printing simplifies the manufacturing process because it produces complex medical devices in a single part.
New York, June 14, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “3D Printing Medical Devices Market by Component, Technology, Application, End User & Region – Global Forecast to 2028” – https://www.reportlinker.com/p05083039/?utm_source=GNW
The reduction of complexity can simplify supply chains, reduce the production time and reduce the risk associated with errors or failures in assembly processes. New materials designed specifically for 3D printing have expanded the uses of 3D printed medical devices. Now, biocompatible materials with mechanical properties suitable for medical applications, like bioresorbable metal alloys and bioresorbable plastics, are available. These materials have enhanced biocompatibility as well as durability and integration into the body. They are therefore suitable for many medical devices.
The Services & Software segment to hold the largest share of the market in 2022
In 2022, the Services & Software was projected to account for the highest share.This segment includes services such as tooling and parts production, rapid prototyping, software services, contract manufacturing of 3D-printed products, preclinical testing, system maintenance, creation of a 3D digital model using 3D software programs such as CAD or scanning software, and expert services for training programs.
The 3D printing sector is growing rapidly due to advances in technology and materials. Because 3D printing allows for the production of complex products and is more affordable than traditional manufacturing, many pharma-biotech companies and medical device manufacturers outsource the entire process.
Custom Prosthetics and Implants will dominate the market by 2022.
Based on application, the custom prosthetics and Implants segment reported the highest share among all of the 3D Printing medical devices market in 2022.Custom prosthetics and implants are designed and manufactured based on the individual patient’s anatomy.
This allows for better fit and functionality, which leads to improved comfort and outcomes. Using 3D imaging and scanning technology, it is now easier to capture accurate data about patients, which can be used for creating personalized implants and prosthetics.
North America is forecast to have the highest growth in the 3D Printing Medical Devices market over the forecast period.
North America accounted for the largest market share, 45.0%, of 3D Printing Medical Devices in 2022. North America’s highest market share is due to increased use of advanced technologies and technological advancements.
APAC is expected grow significantly in the future. The 3D Printing market for medical devices in APAC will grow by 18.5% CAGR during the forecast period. This growth is due to an increase in hospitals in Asian countries, due to better healthcare and government initiatives. Regulatory bodies in the Asia Pacific region, such as China’s National Medical Products Administration and Japan’s Pharmaceuticals and Medical Devices Agency, have been actively working on guidelines and regulations for 3D-printed medical devices. Establishing clear regulatory pathways helps ensure the safety of the devices. This will boost confidence among manufacturers, healthcare professionals, and patients to adopt 3D-printed technology.
Below is a breakdown of the main participants in this report:
• By Company Type: Tier 1–35%, Tier 2–45%, and Tier 3– 20%
• By Designation: C-level–35%, Director-level–25and Others–40%
• By Region: North America–40%, Asia Pacific–30%, Europe–20%, Latin America–5%, and the Middle East & Africa–5%
The market leader in 3D Printing Medical Devices is Stratasys Ltd.(Israel), EnvisionTEC(US), 3D Systems, Inc.(US), EOS(US), Renishaw plc(UK),GE additive (US),Desktop Metal,Inc.(US), CELLINK (Sweden), Formalabs (US),, Materialise(Belgium), 3T Additive Manufacturing Ltd.(US), General Electric Company (US), Carbon, Inc.
Research Coverage
This report studies the in 3D Printing medical devices marketbased on product&service, technology, application, end user, and region.It also covers the factors affecting market growth, analyzes the various opportunities and challenges in the market, and provides details of the competitive landscape for market leaders.
The report also analyzes the micro-markets in terms of their growth trends, and forecasts revenue for each segment based on five major regions (and the countries within these regions).
Why you should buy the Report
The report will enable established and entrants/smaller firms to gauge the market’s pulse, which, in turn, would help them garner a larger market share. Companies that purchase the report can use one of the strategies below to strengthen their market presence.
This report gives insights on the following topics:
• Market Penetration: Comprehensive information on the product portfolios offered by the top players in the 3D Printing devices market.
• Drivers and Opportunities: Detailed information on the advancements in technologies and new opportunities for the upcoming players in 3D printing medical devices market.
• Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the 3D Printing devices market..
• Market Development: Comprehensive information on lucrative emerging regions
• Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the 3D Printing devices market.
• Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
Read the full report: https://www.reportlinker.com/p05083039/?utm_source=GNW
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