3D Printing Medical Devices Market Size is projected to reach USD 9.79 Billion by 2031, growing at a CAGR of 16.1%: Straits Research

In 2022, the global market for 3D printing medical devices was worth USD 2.55 billion. It is forecast to reach USD 979 billion in 2031. The market will expand at a 16.1% annual growth rate during the forecast period (2023-2031). North America is the largest shareholder in the global market for 3D printed medical devices.

New York, United States of America, Nov. 17, 2022 (GLOBE WIRE) — Additive manufacturing, or 3D printing, is the process of creating solid objects three-dimensionally from digital files. It is possible to create intricate functional shapes by cutting or hollowing out a piece of plastic or metal. 3D printing is a process where materials are added in layers to create the desired shape. The medical printing device offers a multitude of benefits to patients throughout their healthcare journey. 3D printing has the potential to provide a wide range of care options for complex injuries and can be used to improve treatment outcomes, procedure efficiency, as well as reduce reintervention costs. During the forecast period, 2023–2031, medical and surgical facilities are anticipated to lead the demand for Medical devices that can be 3D-printed. Rapid adoption of technological innovations, such as multi-material, portable 3D printers and other medical devices, is driving up the demand for 3D printed products. The medical sector is also being revolutionized by 3D printing technology, which allows doctors to create personalized and patient-specific implants using novel applications in surgical implant and prosthetics.

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The Market is booming because of the influx in 3D Printing Investment

In recent years, the amount of public-private financing for different 3D printing initiatives have significantly increased. As a result, the market for 3D-printed medical devices will grow. U.S. company nTopology received $40 million in funding in September 2020 to develop its nTop platform for additive manufacturing. Innovate U.K. funded the University of Huddersfield in March 2019 with USD 2.6 million to develop a new generation of electro-beam additive printing (EBAM) printers. (U.K.).

Digital Manufacturing Innovation offers Exponential Growth Opportunities

Digitalization of dental and other medical procedures has made a huge improvement in clinical workflow. Digital versions of traditional dental and surgical procedures will replace them. Direct procedures can be performed using computer-controlled processes. Digital manufacturing This is the creation of a physical object from a digital design. Direct digital manufacturing has become more popular than traditional manufacturing methods as 3D printing technology develops. It offers unique advantages such as reducing the time it takes to design and produce, eliminating the need for tools, and increasing output.

Report Scope

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Regional Analysis

North America is the largest shareholder in the global 3D printing market for medical devices. This is due to North America’s increasing interest in 3D-printed medical products and rising demand. FORECAST3D, a U.S. service company, recently announced the acquisition of 12 H.P. Jet Fusion 3D Printers can provide full-run 3D Manufacturing. The University of California (UCSF), in collaboration with INTAMSYS (3D printer manufacturer from China), launched the 3D printed orthopedics research project. It is technically advanced and reasonably priced. Orthodontia In June 2018.

Due to technological advancements, a strong and stable R&D environment, and innovation, Europe is expected to experience significant growth in the 3D printing medical devices market. Adidas and Carbon, a Silicon Valley 3D printer company, announced their partnership in April 2017. The “Futurecraft 4D” shoes will feature 3D printed soles using digital light synthesis technology. Cerhum, a medical device company, approved the 3D printed bone graft for use by patients across Europe in July 2022. According to reports MyBone, the first 3D printed bone graft commercially available has been authorized by the Medical Device Regulation 2017.745 It also has ISO 13485 certification. The implant will be available to orthopedic and maxillofacial doctors across the continent.

The market for 3D printed medical devices will likely expand in Asia Pacific over the period anticipated. The E.U. says that 3D-printed medical device value chains are growing due to government initiatives to enhance the technological potential of orthotics. Due to factors such as a rapidly growing population and a demand for high-quality healthcare, countries like India and China are becoming well-known. Zoriox Innovation Labs will begin producing implants for facial reconstruction in India with 3D printing technology. Zoriox Innovation Labs has a team that includes surgeons and dentists as well as anatomists and prosthetists.

LAMEA is expected to see moderate market growth, thanks to the expansion of several vendors and the introduction of favorable regulations in Latin America and the Middle East. Dubai hospitals have made it mandatory that doctors use 3D printing to successfully treat patients with cerebral aneurysms in four veins.

The Key Highlights

• The global 3D printing medical devices market size In 2022, it was valued at USD 2.55 Billion. It is expected to grow at an annual rate of a staggering USD 9.79 billion in 2031. CAGR of 16.1% During the forecast time (2023-2031).

• Based on components, the global 3D printing medical devices market is bifurcated into Printers, Materials, and Software & Services. The market’s largest contributor is software and services.

• Based on technologyThe market for 3D printed medical devices worldwide is split into three segments: electron beam melting; laser beam melting; selective laser sintering; photopolymerization; and direct metal laser intering. The segment laser beam melting will grow at a faster CAGR over the forecast period.

• Based on the application, the global 3D printing medical devices market is bifurcated into orthopedic & cranial implants, dental restorations, surgical instruments, tissue fabrication, and custom prosthetics.

• North America is the largest shareholder in the global market for 3D printing medical devices and is expected to grow at an even higher CAGR over the forecast period.

The top players in the global 3D Printing Medical Devices industry are

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Segmentation of the Global 3D Printing Medical Devices Market

By Component

• Printers

• Materials

• Software & Services

Technology

By Application

By Regions

• North America

• Europe

• Asia-Pacific

• LAMEA

Market News

• In May 2022Organovo Holdings Inc has announced the 3D tissue model for Crohn’s disease.

• In October 2022Cyfuse Medical K.K was approved for listing on the Tokyo Stock Exchange.

News Media                                                                                                         

3D printing is an emerging technology for dentistry and dental surgery

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