Global 3D Printing Medical Device Market Size, Share, Application, Segment, Analysis, Regional Outlook, Growth Strategies and Forecasts, 2020–2026

Global 3D Printing Medical Device Market is valued to reach USD 2.5 Billion by 2025, growing at CAGR of 17.2% from 2020–2026. Increasing rate of neurological and cardiovascular disorders, growing demand for cost-effective medical and dental implants coupled with use of 3D printing technology for printing organs, blood vessels and tissue engineering are factors driving the market growth.

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Computer-aided design (CAD) techniques help in producing a digital 3D blueprint and 3D printing is extremely flexible enabling designers to enable changes without setting up any extra tools or equipment. 3D printing is widely used in industries as the automobile industry, aerospace & defense, clothing apparel, retail, firearms and construction to create efficient prototypes, inventories & finished goods. Medical devices market is thus providing lucrative growth opportunities for 3D medical devices. For instance, opportunities include using medical restoratives such as crowns, orthopaedic implants, surgical instruments, and even other external equipment. Medical applications for 3D printing is expanding vividly and is expected to revolutionize the healthcare domain. Medical use pertaining to 3D printing can be classified into various categories comprising tissue and organ fabrication, creation of prosthetics and implants.

Application based 3D printing medical device delivers multiple benefits comprising personalization of medical products and their cost-effectiveness. 3D printing is been used in the manufacturing industry for many decades and mostly to produce prototypes. Many manufacturers deploy large and fast 3D printers to create models and molds. Therefore, there are companies that are now emerging to produce 3D printing for commercial medical applications. Major advantages to the medical industry is the freedom in making customized medical products. For instance, use of 3D printing for prosthetics can lead in a great value for patients as well as physicians. Custom-made implants and surgical tools have a high impact from time perspective and enables a high patient recovery time followed by high success rate during surgery and implants.

3D Printing Medical Device Market Trends, Drivers and Opportunities:

Companies can now make products by considering patient’s specific requirements such as height, weight, age or full medical history. With this information, the medical equipment for that patient would be manufactured specifically enabling the customization option for patients. Another reason to use 3D printing devices is due to its cost-effectiveness for medical implantation. Therefore, 3D printing enables companies to generate medical equipment within a few hours and not days. Hence, this characteristic allows the companies to cater their patients with desired medication.

The key driving factors that attribute for the growth of global 3D printing medical devices market include its cost-effectiveness, entry of new market entrants, customization options available in the market. Additionally, the printed devices enable the designing of product with much details to perform a medical surgery. Multiple benefits offered by medical industry is contributing much to the growth of 3D printing medical devices market.

However, lack of regulations by government at the local, domestic and international level concerning 3D printing devices is a major hindrance for global 3D printing medical devices market. Also, the skeptical attitude of several dentists towards this technology can be a major limitation for the growth of 3D printing medical devices market.