Global 3D Printed Medical Devices Market Register a Hugh Growth In Healthcare Industry by 2026

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3D Printing: Ushering in the New Era of Customized Medical Devices

3D printed medical devices are three-dimensional objects, created by attaching successive layers of objects through a 3D digital file. Such devices are highly customized to suit the patient’s unique needs, which in turn helps provide better patient outcomes. Moreover, it can also be used to develop anatomical models for medical related education and for training purposes. This is a rapidly emerging technology facilitating production of different kinds of medical products such as implants, surgical instruments, and external prosthetics. The process of 3D printed medical device manufacturing involves multiple steps. These steps depend upon the type of printing and the complexity of the equipment.

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Technological advancements making 3D-printed devices more affordable

Factors driving growth of the 3D printed medical devices market include rising technological advancements through development of innovative 3D printed medical equipment and increasing healthcare spending worldwide. For instance, Stratasys Ltd. is focusing on development of extensive detailed prototypes or molds made of flexible and transparent materials for detailed study of chronic diseases. Moreover, aging population also contributes towards the demand for these devices. This is primarily due to the fact that this particular demographic group is more susceptible to osteoarthritis, gangrene, as a risk of diabetes and chronic heart disorders. Rising incidence of road and other accidents is also expected to influence market growth. However, stringent regulatory framework, high cost of 3D printed devices, and low reimbursement policies are some of the factors restraining market growth for 3D printed medical devices.

Prosthetics and implants the mainstay of 3D-printed medical devices

The global 3D printed medical devices market is segmented on the basis of product type, raw material, technology, end user, and geography. On the basis of product type, the market is segmented into implants, surgical instruments, prosthetics, tissue engineering devices, and others. Implants is sub-segmented into cranial implants, orthopedic implants, and dental implants; surgical instruments is sub-segmented into scalpels, retractors, and others; tissue engineering devices is sub-segmented into bone and cartilage scaffolds and ligament and tendon scaffolds.

Stratasys Ltd. is one of the major companies for 3D printed medical devices market

Key players operating the 3D medical devices market include 3D Systems, Inc., Stratasys Ltd., EOS GmbH Electro Optical Systems, Arcam AB, FabRx Ltd., Bio3D Technologies, EnvisionTEC, Cyfuse Biomedical K.K., Concept Laser GmbH, 3T RPD, Ltd., and Prodways. Major companies in the market are constantly working towards introducing innovative products and lower production costs in order to enhance profitability. For instance, in November 2016, 3D Systems extended its anatomical modeling service aimed at including pliable MultiJet Printing (MJP) material for patient-specific 3D modelling and printing services.

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About Author

Cynthia Carrier is a graduate of Texas A&M, where she played volleyball and annoyed a lot of professors. Now as Plains Gazette's entertainment and Lifestyle Editor, she enjoys writing about delicious BBQ, outrageous style trends and all things Texas.