Research Nester has released a report titled 3D Printing Medical Implants Market – Global Demand Analysis & Opportunity Outlook 2027 which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
Advancements in the healthcare industry have grown manifold especially with the use of technological devices, which has helped mankind to curb critical health diseases and find out solutions to cope with illnesses that were hard to cure few decades back. As such, with the growing advancements, one such advancement observed in the healthcare industry is the utilization of 3D printed medical devices, which are aided by advanced 3D programs such as Magnetic Resonance Image (MRI) or a computer-aided design (CAD) drawing and are used by healthcare specialists to manufacture several medical devices as well as for designing replicas of human anatomy, nanomaterials as well as polymer-based organs, which are viewed as an advanced form of healthcare essentials in the industry.
The increasing advancements in the healthcare industry, coupled with factors such as the developments observed in orthopedics giving rise to the concepts of customized bone identical implant and CT-bone are also considered majorly to drive the demand for the deployment of 3D printing devices in the healthcare industry, which in turn is anticipated to drive the growth of the global 3D printing medical implants market. Additionally, increasing applications of 3D printing medical implants on the back of growing research and developments as well as numerous benefits associated with 3D printing medical implants are some of the factors anticipated to drive the growth of the global 3D printing medical implants market.
The global 3D printing medical implants market is anticipated to achieve a CAGR of around 19% during the forecast period, i.e. 2019-2027. The market is thriving on account of the rising importance of 3D printing in the healthcare industry and the growing focus on advancement of medical products. The global 3D printing medical implants market is expected to garner a value of around USD 4800 million by the end of 2027 from a value of around USD 900 million in the year 2018 and further achieve an incremental $ opportunity of around USD 800 million in the year 2027 as compared to the previous year.
The global 3D printing medical implants market is segmented by component into material, services and system. Among these segments, the material segment is anticipated to register a CAGR of around 21% over the forecast period and further cross a value of around USD 2700 million by the end of 2025. The segment held a market share of around 49% in the year 2018 and is anticipated to hold the largest market share by the end of 2027. On the other hand, the system segment is anticipated to grow with a significant CAGR of around 15% over the forecast period.
Geographically, the global 3D printing medical implants market is segmented by five major regions into North America, Europe, Middle East & Africa, Asia-Pacific and Latin America region, out of which, North America, which held the largest market share of around 48% in the year 2018, is anticipated to grow with a CAGR of around 21% over the forecast period and is primarily driven by nations such as U.S. and Canada, where U.S. held the dominating market share of around 70% in the year 2018.
The growth of the market in the nation can be attributed to the rising investments by the government for the development of healthcare infrastructure in the nation followed by the support of the government in funding research and developmental activities in the nation. Moreover, the North America 3D printing medical implants market is anticipated to cross a value of around USD 2600 million by the end of 2027.
However, concerns for the absence of reimbursement policies in many nations, unavailability of skilled technicians as well as the high cost associated with the 3D printing medical implants technology devices are some of the factors estimated to act as a barrier to the growth of the global 3D printing medical implants market.
This report also studies existing competitive scenario of some of the key players of the global 3D printing medical implants market, which includes profiling of Materialise NV (NASDAQ: MTLS), Stratasys Ltd. (NASDAQ: SSYS), Renishaw plc (LON: RSW), 3D Systems, Inc. (NYSE: DDD), Envisiontec, Inc., General Electric (NYSE: GE), SLM Solutions Group AG (ETR: AM3D), Oxford Performance Materials, Bio 3D and Cyfuse Biomedical KK.