According to a new market research report published by Global Insight Services ” 3D Printing Medical Devices Market is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
3D printing is a type of additive manufacturing. There are various types of additive manufacturing, but the terms 3D printing and additive manufacturing are often used mutually. 3D printing is a process that generates a three-dimensional object by constructing successive layers of raw material. Every new layer is attached to the previous one until the entity is complete. Objects are generated from a digital 3D file, such as a computer-aided design (CAD) drawing or a Magnetic Resonance Image (MRI). The flexibility of 3D printing allows creators to make changes simply without the need to set up additional equipment or tools.
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Market Players of Global 3D Printing Medical Devices Market:
The key players in the global 3D printing medical devices market are Stratasys Ltd., 3D Systems Corporation, Materialise NV, Envisiontec GmbH, Eos GmbH Electro Optical Systems, Renishaw PLC., 3T RPD, Ltd., Arcam AB, Concept Laser GmbH and Prodways among others.
Market Drivers
Rising public-private funding for 3D printing activities
In recent times, there has been a significant rise in public-private funding to support various initiatives in the 3D printing industry such as research and funding activities that are likely to boost the development of 3D printing products and technologies, thereby fuelling the growth of the 3D printing medical devices market. For instance, in September 2020, nTopolgy raised $40M to drive the future of engineering.
Market Opportunities
Direct digital manufacturing
The rising digitization of dentistry and medical procedures has advanced greatly over the years, with the aim of improving the clinical workflow through the incorporation of technology. The industry is witnessing a shift from traditional to digital dentistry and surgeries. Direct digital manufacturing comprises the application of computer-controlled processes for developing a physical object directly from a digital strategy. With the expansion in 3D printing, direct digital manufacturing is becoming a widely used technology as compared to traditional manufacturing techniques. It provides a unique set of advantages as it eliminates the investment in tooling, lowers the lag time between designing and production, and raised production.
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Market Segmental Analysis
The global 3D printing medical devices market is segmented into components, technology, medical product, and end users.
3D Printing Medical Devices Market by Components
By components, the 3D printing medical devices market is segmented into 3D printing equipment, materials and services, and software. The materials segment is also sub-segmented into plastics, metal and metal alloy plastics, biomaterials, and others.
The service and software segment is likely to dominate the market in 2021 with a constant rate of XX% during the forecast period. The key factors such as cost-effectiveness, utility, uniformity, and accuracy offered by services for medical device 3D printing, is likely to boost the growth market during the estimated period.
3D Printing Medical Devices Market by Technology
By technology, the global 3D printing medical devices market is bifurcated into photopolymerization, droplet deposition/extrusion-based technologies, laser beam melting, electron beam melting, and three-dimensional printing/adhesion bonding. The photopolymerization segment is also sub-segmented into digital light processing, stereolithography, and two-photon polymerization. Likewise, the droplet deposition/extrusion-based technologies are sub-segmented into fused deposition modelling, multiphase jet solidification, and low-temperature deposition manufacturing. Also, laser beam melting segment is sub-categorized into selective laser melting, direct metal laser sintering, selective laser sintering, and lasercusing.
3D Printing Medical Devices Market by Medical Products
By medical products, the 3D printing medical devices market is segmented into surgical guides, surgical instruments, prosthetics and implants, and tissue engineering products. The surgical guides are sub-segmented into dental guides, craniomaxillofacial guides, and orthopaedic guides. Similarly, the surgical instruments are also sub-segmented into surgical fasteners, scalpels, and retractors. Also, the prosthetics and implants segment is also sub-segmented into standard implants and custom implants. Likewise, the tissue engineering products are also bifurcated into bone and cartilage scaffolds, and ligament and tendon scaffolds.
3D Printing Medical Devices Market Analysis by End User
By end-user, the 3D printing medical devices market is segmented into hospitals & surgical centers, dental & orthopedic clinics, academic institutions & research laboratories, pharma-biotech & medical device companies, and clinical research organizations.
Reasons to buy 3D Printing Medical Devices Market Report:
- Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
- Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
- Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
- Develop business and M&A strategies through understanding of latest trends and emerging players in the market
- Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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Key Questions answered in the report:
- How is the market structured and what the key drivers and trends of this industry?
- How is the market segmented and what is the size of each segment?
- Which segments and geographies provide best growth opportunities?
- What’s the competitive landscape and positioning of players in this market?
- What is the impact of latest events such as Covid-19 and Russia-Ukraine conflict on the market?
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