3D Printing Medical Implants Market Size to Worth Around USD 9069.9 Mn by 2030

The 3D printing medical implants market size is projected to be worth around USD 9069.9 million by 2030, growing with a CAGR of 19%, report study by Precedence Research.

OTTAWA, March 02, 2021 (GLOBE NEWSWIRE) -- The global 3D printing medical implants market size was valued at USD 1,592.6 million in 2020. 3D printing encompasses addition of consecutive coatings of materials till the object is generated in form of 3D. This advanced technology is estimated to meet budding needs of healthcare by offering particularly configured health devices. Likewise, this process decreases load on healthcare professionals to implement difficult surgeries including risks of contamination and also lessens duration of contact to anesthesia.

Growth Factors:

Increasing research in critical surgeries and growing number of critical surgeries such as whole joint replacement and heart transplantation or replacement are driving growth of the global market. In addition, 3D printed implant helps healthcare professionals to practice before actual critical surgery, which helps to reduce the risk and conduct the successful surgery. This is leading to increased demand for 3D implants and driving growth of the global market. Furthermore, rising use of 3D implants is fueled by various other applications such as these implants reduces risk of patient life, reduces risk of infection in surgical procedures, and are recyclable. Also, use of 3D implants reduces the overall time of surgery and helps to reduce the anesthesia. The reduced time of surgery supports healthcare professionals to conduct more surgeries and attend more patients to provide them on time service. These are some factors fueling growth of the global market. There are several benefits associated with 3D implants and 3D printing in medical implants which is another major factor propelling growth of the global market. 3D printing is a flexible technology and do not need additional set-up for different medical devices and customized devices. This reduces the overall production cost and support manufacturers to increase their revenue.

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In addition, 3D printing in medical implants allows key players to manufacture customized medical implants as per patient need. Furthermore, 3D printing in medical implants is playing key role in cosmetic surgeries as well. 3D printing in medical implants supports to gain original face structure and can support to make required changes to improve the personality. This are some other factors expected to result in growth of the global market during the forecast period.

Report Highlights:

• Based on component segment, material segment projected for the largest revenue with significant portion in prediction period of time. This is accredited to flexibility of 3D printing in order to minimalize extra set up costs together with producers’ skills to produce devices to match anatomy of the patient.

• On the basis of application, orthopedic application is accounted for the weighty share in the target industry. This is due to the adoption of metallic and polymeric implants for complex reconstructions, such as tumor surgery and craniomaxillofacial surgery.

• Based on end user segment, pharmaceutical and biotechnologicaults segment planned for the largest revenue with significant portion in estimate period of time. This is due to the efforts taken by these companies in order to get competitive edge in the global industry.

• Materialize N. V. a leading company contributes significantly in the target industry and this is due to the various innovative product launches by the company across the world.

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Regional Analysis:

In 2020, North America dominated the global market with a market share of more than 30%. United States represented the highest share in the North America region primarily due to high healthcare spending along with tendency of health management among the individuals in the North America. Moreover, increasing adoption of technically advanced products in the countries including United States and Canada is expected to have positive impact on the industry growth. Asia Pacific is expected to account for the second largest market in the 3D printing in medical implants in terms of revenue in 2022. The growth in the Asian countries is attributed to growing awareness among Asian population regarding health benefits of 3D printing in medical implants which is boosting growth of the target industry in the countries of Asia Pacific including China, India, Japan, among others. Increasing prevalence of dental disorders, bone related disorders in the countries of Asia Pacific is another important factor which is demanding huge amount of 3D printing in medical implants and in turn boosting growth of the Asia Pacific 3D printing in medical implants market in the near future. Growth in the healthcare spending as well as accessibility to the skilled surgeons are among major factors projected to have optimistic impact on the growth of the target industry in Asian countries.

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Key Market Players and Strategies:
The major companies functioning in the worldwide 3D printing in medical implants are 3D Bioprinting Solutions, BioBots, ANDREAS STIHL AG & Co. KG, Aspect Biosystems, Formlabs, Medprin, Stratasys, Organovo, Rokit, Materialise N.V. Cyfuse Biomedical among others. Huge investment in the technological development of the 3D printing in medical implants along with business related collaborations are the crucial business strategies started by the major players operating in the global 3D printing in medical implants market.

Market Segmentation

By Component

• Material

• Service

• System
  

By Application

• Dental

• Orthopedic

• Cranial

• Others

By End user

• Pharmaceutical & biopharmaceutical companies

• Academic institutions

• Surgical centers
  

By Technology

• Laser beam melting

• Electronic beam melting

• Droplet deposition

• Others

By Geography

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East & Africa (MEA)
  

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