3D Printing Medical Devices Market SWOT Analysis By Key Players | 3T RPD Ltd., Prodways Group, Oxford Performance Materials, Inc., SLM Solutions Group AG
Pune, Maharashtra -- (SBWIRE) -- 07/21/2022 -- In the healthcare industry, 3D printing, also known as additive manufacturing, is used to produce a variety of medical items, including orthopedic and cranial implants, surgical instruments, dental restorations including crowns, and external prosthesis. By creating medical equipment that are specifically tailored to each person's needs, 3D printing technology is expanding in response to the growing need for individualized medical treatment. Medical device makers have been pushed to utilize 3D printing to shorten the manufacturing life cycle and do away with the conventional prototyping process due to the constant rise in cost pressures and their great need to develop novel goods.
As per the market research report by SNS Insider, the 3D printing medical devices market is projected to cross USD 8.4 billion by 2028, with a CAGR of 7.8% during the forecast period of 2022–2028.
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Drivers, Restraints, Opportunities, and Challenges
The global 3D printing medical devices market has experienced dynamic growth in recent years owing to quickening technological development, rising R&D spending, and quickening client base expansion. Additionally, it is projected that the utilization of 3D printing technology in the healthcare industry will enable efficient pre-operative planning, improved surgeon technique, improved patient results, and a viable substitute for animal testing. In addition, the expansion of direct digital manufacturing and the expiration of significant 3D printing sector patents will both contribute to the market's expansion throughout the ensuing years.
The high cost of sophisticated 3D printers, the absence of well-defined regulatory frameworks and reimbursement policies, copyright and patent difficulties related to the 3D printing of patented goods, and other factors are anticipated to restrain market expansion.
Impact of the COVID-19 Pandemic
The sudden increase in COVID-19 cases made it urgent to increase testing and provide protection for healthcare workers. Nasopharyngeal swabs, which are used to collect nasal epithelial mucosa for diagnosis and testing, were in high demand due to the COVID-19 outbreak. Due to the unpredictably high demand for these swabs, researchers and numerous businesses have turned to 3D printing to guarantee adequate supply of these tools.
1.Laser Beam Melting
2.Electron Beam Melting
5.Three-dimensional Printing /Binder Jetting
3.Services & Software
1.Standard Prosthetics & Implants
2.Custom Prosthetics & Implants
3.Wearable Medical Devices
By End User
1.Hospitals & Surgical Centers
2.Academic Institutions & Research Laboratories
3.Dental & Orthopedic Clinics
4.Clinical Research Organizations
5.Pharma-Biotech & Medical Device Companies
The 3D printing medical devices market is anticipated to be driven by the Photopolymerization segment in terms of technology. In the process of photopolymerization, a 3D printing technique, liquid plastic drops are subjected to a laser beam of UV light, which causes the light to solidify the liquid.
The services & software segment recorded a noteworthy percentage of the market revenue, broken down by component. This increase is linked to a boost in software adoption that encourages the use of additive manufacturing in the medical technology industry.
The segment of hospitals and surgical centers is anticipated to rule the 3D printing medical devices market on the basis of end-user. The segment's expansion is mainly fueled by the expanding use of 3Printing in healthcare institutions.
The 3D printing systems market is anticipated to grow significantly in the Asia-Pacific and LAMEA regions as a result of the rise in new businesses and public awareness. The development of the 3D printing medical devices market in the Asia-Pacific region is being fueled by factors such as increased government funding to improve 3D printing applications in the healthcare sector, the establishment of research and training facilities, and raising awareness of 3D printing through conferences and events. Due to the increasing demand for 3D-printed medical equipment and the region's growing knowledge of these products, North America is predicted to experience rapid growth.
Competitive Landscape Outlook
Bio3D Technologies, Stratasys Ltd., EnvisionTEC, Renishawplc, 3D Systems Corporations, Prodways Group, 3T RPD Ltd., Materialise NV, Cyfuse Medical K.K., Laser GmbH, and SLM Solutions Group AG are some of the key market players operating in the 3D printing medical devices market.
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Table Of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID 19 Impact Analysis
4.2 Impact Of Ukraine Ware
5. Value Chain Analysis
6. Porter's 5 Forces Model
7. PEST Analysis
8. 3D Printing Medical Devices Market Segmentation, By Technology
8.1 Laser Beam Melting
8.2 Electron Beam Melting
8.4 Droplet Deposition
8.5 Three-Dimensional Printing /Binder Jetting
8.6 Other Technologies
9. 3D Printing Medical Devices Market Segmentation, By Component
9.3 Services & Software
10. 3D Printing Medical Devices Market Segmentation, By Application
10.1 Standard Prosthetics & Implants
10.2 Custom Prosthetics & Implants
10.3 Wearable Medical Devices
10.4 Surgical Instruments
10.5 Tissue-Engineered Products
10.6 Surgical Guides
10.7 Hearing Aids
10.8 Other Applications
11. 3D Printing Medical Devices Market Segmentation, By End User
11.1 Hospitals & Surgical Centers
11.2 Academic Institutions & Research Laboratories
11.3 Dental & Orthopedic Clinics
11.4 Clinical Research Organizations
11.5 Pharma-Biotech & Medical Device Companies
12. Regional Analysis
12.2 North America
12.3.6 The Netherlands
12.3.7 Rest Of Europe
12.4.2 South Korea
12.4.6 Rest Of Asia-Pacific
12.5 The Middle East & Africa
12.5.3 South Africa
12.6 Latin America
12.6.3 Rest Of Latin America
13. Company Profiles
13.1 3D Systems Corporations
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS View
13.2 Cyfuse Medical K.K.
13.3 Stratasys Ltd.
13.4 EOS GmbHConcept
13.5 3T RPD Ltd.
13.6 Prodways Group
13.7 Oxford Performance Materials, Inc.
13.8 SLM Solutions Group AG
13.9 Arcam AB
13.11 Organovo Holdings, Inc.
13.12 Bio3D Technologies
13.14 Materialise NV
13.15 Laser GmbH
14. Competitive Landscape
14.1 Competitive Benchmark
14.2 Market Share Analysis
14.3 Recent Developments
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