3D Printed Medical Devices Market to Expand at a CAGR of 18.1% during 2017-2027
March 8, 2018 | PRNewswireEstimated reading time: 3 minutes
Future Market Insights presents pertinent insights and a revised forecast of the global 3D printed medical devices market in its published report titled '3D Printed Medical Devices Market": Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)'. The global 3D printed medical devices market is expected to expand at a CAGR of 18.1% during the forecast period 2017-2027. Increasing prevalence of chronic diseases and rising awareness regarding personal care are major factors that are driving the growth of the 3D printed medical devices market.
Increased Ability to Innovate Aids the Global 3D Printed Medical Devices Market
With increasing popularity of 3D printing, medical devices manufacturers are particularly focused on innovations. Substantial need for individualized yet economical medical solutions is met through 3D printing. Complex features of integration such as hard and soft areas, solid and porous structures, multi-material and multi-color, which seemed to be difficult by implementing conventional manufacturing techniques, is made simpler through 3D printing. Patient-specific implants are being manufactured based on CT and MRI scans provided by surgeons, which results in reduction of the overall surgical cost. This has increased the popularity of 3D printed medical devices all around the world.
Global 3D Printed Medical Devices Market: Segmentation and Forecast
The global 3D printed medical devices market is segmented based on application, technology, material type, end user and region. On the basis of application, the market has been segmented into orthopedic Implants, dental implants and cranio-maxillofacial implants. Orthopaedic implants application segment accounted for a higher revenue share in global 3D printing devices as compared to others in application segment. Orthopaedic implants segment in the application category of the global 3D printed medical devices market was estimated to be valued at nearly US$ 170 Mn in 2017 and is slated to reach a valuation of nearly US$ 970 Mn in 2027, exhibiting a CAGR of 19.2% during the period of assessment.
Based on the material type, 3D printed medical devices market is segmented into metals and alloys, biomaterial inks and plastics. The biomaterial inks segment was estimated to be valued at nearly US$ 65 Mn in 2017 and is anticipated to reach a valuation of nearly US$ 400 Mn in 2027, displaying a CAGR of 20% during the period of forecast.
Based on the end user, 3D printed medical devices market is segmented into hospitals, ambulatory surgical centres and diagnostic centres. Hospital end user segment accounts for higher demand for 3D printing devices as compared to other distribution channel segments such as ambulatory surgical centres and diagnostic centres, registering a CAGR of 18.7% over the forecast period.
Global 3D Printed Medical Devices Market: Regional Forecast
On the basis of region, the global 3D printed medical devices market has been segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan and the Middle East and Africa. Revenues in Western Europe are expected to grow at a CAGR of 18.6%, whereas Eastern Europe is anticipated to grow at 15.5% over the forecast period. The Western Europe 3D printed medical devices market was estimated to be valued at nearly US$ 65 Mn in 2017 and is slated to reach a value of nearly US$ 360 Mn in 2027. The Eastern Europe 3D printed medical devices market was estimated to be valued at nearly US$ 40 Mn in 2017 and is anticipated to reach a value of nearly US$ 160 Mn in 2027.
Global 3D Printed Medical Devices Market: Competitive Landscape
Some of the players in the global 3D printed medical devices market include 3D Systems, Inc., Arcam AB, Stratasys Ltd., FabRx Ltd., EOS GmbH Electro Optical Systems, EnvisionTEC, Cyfuse Biomedical K.K. and Formlabs, Inc. among others. Key players are focusing on strengthening their position by establishing new facilities in North America region. Moreover, companies are targeting Asia-Pacific region and Europe by distribution agreements with local players. In order to increase their revenue, major players in the North America region are entering into agreements with hospitals and academic institutes.
About Us
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.
Suggested Items
Industrial PC Market Size to Record $1.75 Billion Growth from 2023-2027
05/03/2024 | PRNewswireThe global industrial pc market size is estimated to grow by USD 1.75 billion from 2023 to 2027, according to Technavio. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of almost 6.29% during the forecast period.
Real Time with… IPC APEX EXPO 2024: Direct Imaging Equipment and Quad-wave DLP Light Engine Technology
05/03/2024 | Real Time with...IPC APEX EXPOGuest Editor Kelly Dack and MivaTek's Brendan Hogan delve into the company's innovative technologies, including direct imaging equipment and quad-wave DLP light engine technology. They highlight the benefits of direct imaging, compensation, and DART technology.
LQDX Divests Aluminum Soldering Business - Mina™ - to Taiyo America Inc.
05/02/2024 | PRNewswireLQDX, formerly known as Averatek Corp., developer of high-performance materials for advanced semiconductor manufacturing, today announced that it has divested its aluminum soldering business – known as MinaTM – to Taiyo America Inc., a global market leader in advanced electronic materials.
IDTechEx Report on Quantum Technology: Nano-scale Physics for Massive Market Impact
04/30/2024 | PRNewswireThe quantum technology market leverages nano-scale physics to create revolutionary new devices for computing, sensing, and communications. Across the industry, quantum technology offers a paradigm shift in performance compared with incumbent solutions.
Guerrilla RF Completes Strategic Acquisition of GaN Device Portfolio from Gallium Semiconductor
04/29/2024 | BUSINESS WIREGuerrilla RF, Inc. has finalized the acquisition of Gallium Semiconductor's entire portfolio of GaN power amplifiers and front-end modules. Effective April 26th, 2024, GUER acquired all previously released components as well as new cores under development at Gallium Semiconductor.