3D Printing Medical Devices: Shaping the Future of Global Healthcare Markets
20 August 2024: “According to the latest BCC research study, the demand for 3D Printing Medical Devices: Global Markets is expected to increase from $2.1 billion in 2023 and the market is estimated to grow from $2.2 billion in 2024 to $4.5 billion by the end of 2029, at a compound annual growth rate (CAGR) of 14.7% from 2024 to 2029.
This report offers a comprehensive overview of the global 3D printing medical devices market, analyzing trends and providing updated insights. It breaks down the market by product segments, technology, sales channels, and applications, using 2023 as the base year and forecasting through 2029. The report covers key geographical regions, including North America, Europe, Asia-Pacific and the Rest of the World, highlighting emerging technologies and the vendor landscape.
Some Interesting Facts about 3D Printing Medical Devices: Global Markets
The global market for 3D printed medical devices is set to grow significantly, with the prosthetics and orthotics segment expected to increase by 20.8% from 2024 to 2029. This growth is driven by the high demand for prosthetics worldwide, as highlighted by the WHO, which states that only 1 in 10 people in need currently have access to assistive products like prostheses. Technological advancements in 3D printing enable the creation of customized and intricate designs, improving patient comfort and quality of life.
Additionally, the versatility and reusability of materials used in 3D printing are fueling market growth. Leading companies are making significant strides in developing materials that enhance the efficiency and capabilities of medical devices. For instance, in 2023, Stratasys introduced four new P3 materials and announced advancements in their Kimya PC-FR and FDM HIPS materials for FDM 3D printers, attracting more healthcare providers and increasing the adoption of 3D printed medical devices.
Factors contributing to this growth include:
– Increasing use of 3D printing across the healthcare sector: The use of 3D printing is growing rapidly in healthcare, enabling the creation of custom medical devices, implants, and prosthetics tailored to individual patients. This technology improves treatment outcomes and enhances patient care.
– Rising government support for additive manufacturing: Governments are increasingly backing 3D printing, known as additive manufacturing, through funding, incentives and policy support. This boosts innovation and growth in the industry.
– Increasing demand for patient-specific customization: There is a growing demand for medical treatments and devices that are tailored specifically to individual patients, improving their effectiveness and comfort.
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