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Future Market Insights

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3D-Printed Medical Devices Market to Reach 18.1% CAGR by 2027

Future Market Insights (FMI) presents pertinent insights and a revised forecast of the global 3D-printed medical devices market in its published report titled 3D Printed Medical Devices Market”: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)’.

The global 3D-printed medical devices market is expected to expand at a compound annual growth rate (CAGR) of 18.1% during the 2017–2027 forecast period.

Increasing prevalence of chronic diseases and rising awareness regarding personal care are major factors that are driving the growth of the 3D-printed medical devices market.

Increased ability to innovate aids the global 3D-printed medical devices market

With an increasing popularity of 3D printing, medical devices manufacturers are particularly focused on innovations.

3D printing meets a need for individualised but economical medical solutions. Hard and soft areas, solid and porous structures, multi-material and multi-colour sections that are difficult-to-implement in conventional manufacturing techniques are made simple using 3D printing.

In addition, patient-specific implants are being manufactured based on computerised tomography (CT) and magnetic resonance imaging (MRI) scans, which results in a reduction of the overall cost of surgery. This has increased the popularity of 3D-printed medical devices worldwide.

Global 3D-printed medical devices market segmentation and forecast

The global 3D-printed medical devices market is segmented based on application, technology, material type, end-user and region.

On the basis of application, the market has been segmented into orthopaedic implants, dental implants and craniomaxillofacial implants. The orthopaedic implants application segment accounted for a higher revenue share in global 3D printing devices compared with others in this application segment. The orthopaedic implants segment was estimated to be valued at nearly $170m in 2017 and is expected to reach a valuation of nearly $970m in 2027, exhibiting a CAGR of 19.2% during the period of assessment.

Based on material type, the 3D-printed medical devices market is segmented into metals and alloys, biomaterial inks and plastics. The biomaterial inks segment was estimated to be valued at nearly $65m in 2017 and is anticipated to reach a valuation of nearly $400m in 2027, displaying a CAGR of 20% during the period of forecast.

Based on end users, the 3D-printed medical devices market is segmented into hospitals, ambulatory surgical centres and diagnostic centres. The hospital end-user segment accounts for a higher demand for 3D printing devices compared with other distribution channel segments such as ambulatory surgical centres and diagnostic centres, registering a CAGR of 18.7% over the forecast period.

Global 3D-printed medical devices market regional forecast

On the basis of region, the global 3D-printed medical devices market has been segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan and the Middle East and Africa (MEA).

Revenues in Western Europe are expected to grow at a CAGR of 18.6%, whereas Eastern Europe is anticipated to grow at 15.5% over the forecast period. The Western Europe 3D-printed medical devices market was estimated to be valued at nearly $65m in 2017 and is expected to reach a value of nearly $360m in 2027.

The Eastern Europe 3D-printed medical devices market was estimated to be valued at nearly $40m in 2017 and is anticipated to reach a value of nearly $160m in 2027.

Global 3D-printed medical devices market competitive landscape

Some of the players in the global 3D-printed medical devices market include 3D Systems, Arcam, Stratasys, FabRx, EOS, EnvisionTEC, Cyfuse Biomedical and Formlabs.

Key players are focusing on strengthening their position by establishing new facilities in the North America region. Companies are also targeting the APEJ region and Europe by distribution agreements with local players.

To increase their revenue, major players in the North America region are entering agreements with hospitals and academic institutes.

To request a sample report with a table of contents and figures, click here.

To preview the analysis of the global 3D-printed medical devices market segmented by application and technology, click here.

FMI’s advisory services are aimed to help you with specific, customized insights that are relevant to your specific challenges. Let the company know about your challenges today by clicking here and one of its trusted advisors will be in contact.