The 3D printed medical devices market is expected to expand at a CAGR of 18.1% for the period between 2017-2027, according to analysis from Future Market Insights.
Major factors that are driving growth include increasing prevalence of chronic diseases and rising awareness regarding personal care.
With the increasing popularity of 3D printing, medical devices manufacturers are particularly focused on innovations. Substantial need for individualised yet economical medical solutions can be met through 3D printing.
Patient-specific implants are being manufactured based on CT and MRI scans provided by surgeons, which results in reduction of the overall surgical cost. This has increased the popularity of 3D printed medical devices all around the world.
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 cranio-maxillofacial implants. Orthopaedic implants account for a higher revenue share in global 3D printing devices as compared to others. Orthopaedic implants were estimated to be valued at nearly $170 million in 2017 and is projected to reach nearly $970 million in 2027, exhibiting a CAGR of 19.2% during the period of assessment.
Based on the material type, 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 $65 million in 2017 and is anticipated to reach a valuation of nearly $400 million in 2027, displaying a CAGR of 20% during the period of forecast.
Based on the end user, 3D printed medical devices market is segmented into hospitals, ambulatory surgical centres and diagnostic centres. Hospital end user segment accounts for higher demand for 3D printing devices compared to other distribution channel segments, registering a CAGR of 18.7% over the forecast period.
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 $65 million in 2017 and could reach a value of nearly $360 million in 2027. The Eastern Europe 3D printed medical devices market was estimated to be valued at nearly $40 million in 2017 and is anticipated to reach a value of nearly $160 million in 2027.
