LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global 3D printing medical devices market to grow at a CAGR of more than 23% during the forecast period, according to their latest market research report. The growth momentum of the market is expected to accelerate in the year-over-year growth.
Emerging technological advancement and its applications of 3D printing in the medical devices is one of the major trends being witnessed in the global 3D printing medical devices market 2019-2023. The technological advancement has helped in improving the printer production speed significantly which have been taking place in the 3D printing medical devices market recently, because of which, the volume capabilities of 3D systems are also expected to increase. The 3D printing medical devices at higher precision and efficiency than competitive systems can be produced by the end-users using such technological advancements. There is also an increasing focus on R&D for the development of new combinations of 3D printing medical devices and making improvements to existing devices. Such technological advancements are increasing the adoption of 3D printing medical devices, thereby driving the market.
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According to Technavio analysts, one of the key factors contributing to the growth of the global 3D printing medical devices market is the increasing adoption of 3D printing technology by medical professionals:
Global 3D printing medical devices market: Increasing adoption of 3D printing technology by medical professionals
For various clinical and research purposes, medical professionals are increasingly adopting 3D printing technology. With 3D virtual pre-surgical planning, the positioning of the implant is done within a stable reference frame, linked to the entire scapula, using reliable landmarks that are no subjected to the case and specific wear patterns. Also, 3D printing technology is used in 3D printed anatomical models which are then used as training tools as they help clinicians to practice on the exact replica of the patient’s organ or body part, improving their rate of success.
According to a senior analyst at Technavio, “Pre-surgical planning of certain procedures such as shoulder arthroplasty can be performed much more effectively using 3D images than 2D images and complex spinal deformities can also be studied better using a 3D anatomical model. Also, in radiology, 3D anatomic models are useful for explaining imaging findings, such as breast calcifications or fetal anomalies, which is difficult for many patients to conceptualize.”
Global 3D printing medical devices market: Segmentation analysis
The global 3D printing medical devices market research report provides market segmentation by the application (orthopedic and spinal, dental, hearing aids and other applications) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas held the largest share of the market in 2018, accounting for close to 46% share. It was followed by EMEA and APAC respectively. The dominance of the Americas can be attributed to the increased demand for personalized or customized medical devices and rising adoption of 3D printing technology by medical professionals.
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- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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