Global Medical Device 3D Printing Market - 2023-2030

Global Medical Device 3D Printing Market - 2023-2030

The global medical device 3D printing market reached US$ 2.6 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 7.9 billion by 2030. The global medical device 3D printing market is expected to exhibit a CAGR of 15.7% during the forecast period (2023-2030).

The manufacturing of artificial limbs and orthotic devices has been transformed by 3D printing. The technique makes it possible to create lightweight, precisely fitting devices that are comfier and useful for the user.

Surgeons can use 3D printing to make surgical guidance and equipment that are unique to each patient. These manuals help to improve surgical outcomes, lower surgical risks, and aid in precise pre-operative preparation. Additionally, special tools might be created to meet certain surgical needs.

Market Dynamics
Active Key Players Are Boosting The Global Medical Device 3D Printing Market Growth During The Forecast Period

In June 2023, EOS, Precision ADM, Orthopaedic Innovation Centre (OIC), and Tecomet, four companies operating in the medical device manufacturing sector, established cooperation. An all-inclusive solution for the additive manufacture of medical devices will be offered by this cooperation.

Scaling up the manufacturing of AM medical devices necessitates a thorough understanding of the entire process chain, which goes beyond printing and includes, among other things, design, post-processing, testing, sterilization, and packaging. Incomparable experience in additive manufacturing will result from our collaboration with Tecomet, OIC, and Precision ADM, which will assist medical device manufacturers in navigating the difficulties of the regulatory environment and supplying high-quality, dependable goods.

Technological Advancements Provide The Global Medical Device 3D Printing Market Growth Opportunities

As per the article published in 3D Printing in Medicine, in 2022, through already-existing medical device rules, the Food & Drug Administration (FDA) of the United States controls 3D-printed devices. However, because 3D printing is spreading quickly throughout the healthcare industry, the FDA is becoming more and more interested in creating standards and regulations specifically for point-of-care (PoC) 3D printing.

Manufacturing of point-of-care (PoC) medical devices has rapidly increased as a result of recent developments in 3D-printed medical device research. Despite the fact that PoC 3D printing has the potential to enhance patient outcomes and cut down on operating room time and expenses, such a design and production environment blurs the distinction between medical device manufacturers and providers of treatment and raises regulatory uncertainty.

COVID-19 Impact Analysis
The COVID-19 pandemic has had a significant impact on the medical device 3D printing market. The demand for testing kits and diagnostic tools surged as a result of the COVID-19 testing regulations. Nasopharyngeal swabs and sample-collecting containers were produced using 3D printing as part of testing kits and diagnostic tools. Utilizing 3D printing, it was possible to quickly prototype and produce these components, helping to satisfy the growing demand.

Russia-Ukraine Conflict Analysis
The impact of the Russia-Ukraine war on the medical device 3D printing market is complex and multifaceted. Governments and healthcare systems may prioritize emergency preparedness, infrastructure, and essential healthcare requirements during times of conflict. The acceptance and investment in cutting-edge technologies like 3D printing for medical devices could be impacted by this change in priorities and resource allocation. More urgent and immediate demands may receive funding and attention.

Segment Analysis
The global medical device 3D printing market is segmented based on product, technology, application, end-user, and region.

The Electron Beam Melting Segment Is Expected To Hold A Dominant Position In The Market Over The Forecast Period

The electron beam melting segment accounted for the highest market stake accounting for approximately 36.1% of the medical device 3D printing market in 2022. In the 3D manufacturing technique known as electron beam melting (EBM), a high-energy electron beam melts a metal powder. An object that precisely matches the criteria specified by a CAD model is created by melting multiple layers of powdered metal under the control of an electron beam, which generates an electron stream that is guided by a magnetic field.

In order to protect highly reactive materials from oxidation, production is done in a vacuum chamber. Similar to Selective Laser Melting (SLM), Electron Beam Melting (EBM) prints from a powder from the powder bed of the 3D printer, but EBM utilizes an electron beam as opposed to a laser.

Geographical Analysis
Increasing Collaborations and Partnerships Among the Key Players, Increasing FDA Approvals, and Advancement in Medical Device 3D Printing Dominate the North American Region

North America is expected to dominate the Medical Device 3D Printing market, accounting for around 38.7% of this market. In March 2023, with a collaboration with 3D Systems, the manufacturer of medical devices Paragon Medical is investing in additive manufacturing capabilities. According to reports, the new cooperation will make use of the historical knowledge and competencies that both institutions can offer to clients.

The collaboration between the companies covers material procurement and supply, part design and process development, machine onboarding and validation, and regulatory assistance. The partnership between 3D Systems and Paragon Medical will enable them to grow the production of medical devices using cutting-edge metal and plastic 3D printing technology.

Competitive Landscape
The major global players in the market include Stratasys Ltd., EnvisionTEC, Koninklijke Philips N.V., 3D Systems, Inc., EOS, Renishaw plc, Materialise, 3T Additive Manufacturing Ltd., General Electric Company, Carbon, Inc., and Prodways Group among others.

Why Purchase the Report?
• To visualize the global medical device 3D printing market segmentation based on the product, technology, application, end-user, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of medical device 3D printing market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.
The global medical device 3D printing market report would provide approximately 69 tables, 72 figures, and 195 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies