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Global 3D Printing Medical Implants Market Analysis – 2018-2027
3D printing is a process in which a three-dimensional object is created by building consecutive layers of raw material. The technology, which is aided by a digital 3D file, such as Magnetic Resonance Image (MRI) or a computer-aided design (CAD) drawing, plays an essential role in the healthcare industry as it provides healthcare specialists the power to manufacture several medical devices. The global 3D printing medical implants market is anticipated to achieve a CAGR of around 19% during the forecast period, i.e. 2019-2027. Factors such as growing focus on advancement of medical products coupled with the rising importance of 3D printing in the healthcare industry are anticipated to contribute significantly towards the growth of the global 3D printing medical implants market. Additionally, numerous benefits associated with 3D printing medical implants technology, increasing applications of 3D printing medical implants on the back of growing research and developments, increasing advancements in the healthcare industry coupled with the developments observed in orthopedics giving rise to the concepts of customized bone identical implant and CT-bone are some of the factors anticipated to drive the growth of the global 3D printing medical implants market.
The global 3D printing medical implants market consists of various segments that are segmented by component, implementation technology, application, end user and by region. The implementation technology is further sub-divided into laser beam melting, electronic beam melting, droplet disposition and others. Out of these, the laser beam melting segment held the largest market share of around 44% in the year 2018 and is anticipated to grow with a CAGR of around 21% over the forecast period and cross a value of around USDD 2400 million by the end of 2027.
Based on region, the global 3D printing medical implants market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in Asia Pacific, which held a market share of around 20% in the year 2018, is anticipated to grow with a CAGR of around 18% over the forecast period and cross a value of around USD 900 million by the end of 2027.
Some of the affluent industry leaders in the global 3D printing medical implants market are Materialise NV, Stratasys Ltd., Renishaw plc, 3D Systems, Inc., Envisiontec, Inc., General Electric, SLM Solutions Group AG, Oxford Performance Materials, Bio 3D and Cyfuse Biomedical KK.