This report provides prognosis and analysis of the 3D printing medical devices market. It offers historical data along with forecast data for 2022.
Rockville, MD -- (SBWIRE) -- 04/01/2019 -- Factors such as soaring demand for patient-specific medical devices in maxillofacial surgery and orthopedics, advancements in 3D-printing technology, and government funding are expected to influence growth of the global 3D-printing medical devices market. This FactMR report analyzes the expansion of global 3D-Printing Medical Devices Market till date, and provides key insights on the growth of the market during the forecast period, 2017-2022. The scope of FactMR's report is to analyze the global 3D-printing medical devices market for the forecast period 2017-2022 and provide readers an unbiased and accurate analysis. The report commences with a brief information of the global 3D-printing medical devices market. This executive summary sets the tone for the rest of the report, providing users the scope of the report.
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3D-printing is a form of additive manufacturing. Medical devices built by utilising 3d-printing technology enable perfect match to patients' anatomy. 3D-printing medical devices have extremely complex internal structures. Flexibility of 3D printing enable medical device designers in easily making changes, eliminating the requirement of tools, or, setting up additional equipment. Some examples of 3D-printing medical devices are cranial and orthopedic implants, dental restorations, external prosthetics, and surgical instruments.
3D printing has the potential to make transformations in utilization of medical devices for treatment of patients. 3D printing technology is impacting the healthcare sector by helping in building non-implantable as well as implantable medical devices, coupled with cost-effective customizable devices. The medical 3D printing industry is being highly influenced by surging demand for patient-specific devices in maxillofacial surgery and orthopedics.
3D-printing medical devices are enabling surgeons in planning surgeries, which in turn lower the operative risks faced during complex procedures, decrease duration of anesthesia exposure, and risk of infection. This further enables patients in recovering faster, and reducing the duration of hospital stay. These factors might impact growth of the global 3D-printing medical devices market. 3D printing technology is facilitating surgeons in improving the rate of success in complicated procedures. In addition, this technology is revolutionizing preclinical drug testing by making testing convenient on 3D-printed organs, an alternative to testing of animals.
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The advent of 3D-printed tablets has created new avenues for 3D printing technology, enhancing its application in the pharmaceutical industry. A number of collaborations are being witnessed between leading market players and academic institutions across the globe, investing extensively in research and development activities, which in turn is further influencing the market growth. However, factors such as lack of structured regulatory framework, high prices of printers, unfavorable reimbursement policies, limited technical expertise, biocompatibility issues pertaining to 3D-printed medical devices, and concerns related to copyright and patent infringement are expected to hinder the market growth in the near future.
A new report by FactMR projects the global 3D-printing medical devices market to register a staggering expansion throughout the forecast period 2017 to 2022. Global sales of 3D-printing medical devices are poised to account for revenues over US$ 1,700 Mn by 2022-end. Although North America is expected to dominate the global 3D-printing medical devices market, sales of these devices in Asia-Pacific excluding Japan (APEJ) will exhibit the highest CAGR through 2022. Europe will continue to be the second largest market for 3D-printing medical devices, in terms of revenues.
Software & services are expected to be sought-after among products in the market, accounting for over one-third revenue share of the market during 2017 to 2022. However, sales of materials will register the fastest expansion through 2022. Hospitals are expected to be the most attractive end-users of 3D-printing medical devices, with sales expected to surpass US$ 1,000 Mn in revenues by 2022-end. Revenues from sales of 3D-printing medical devices in hospitals will account for more than half share of the market during the forecast period. Key market players profiled in the report include 3D Systems Corporation, Biomedical Modeling Inc., Carbon, Inc., General Electric Company, EnvisionTEC GmbH, Materialise NV, Organovo Holdings, Inc., Groupe Gorgé SA, Renishaw plc, SLM Solutions Group AG, Stratasys Ltd., and Cyfuse Biomedical K.K.
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