Medical Device Additive Manufacturing Market for Laser Sintering to Grow at Highest CAGR during 2020-2027
According to our new market research study on Medical Device Additive Manufacturing Market to 2027 - COVID-19 Impact and Global Analysis- by Technology, Product, and Application, the market is expected to reach US$ 4,440.5 million by 2027 from US$ 1,350.4 million in 2019; it is estimated to grow at a CAGR of 16.2% from 2020 to 2027. Factors such increasing demand for additive manufacturing in healthcare, and rising incidence of musculoskeletal and dental diseases are expected to boost the growth of the global medical device additive manufacturing market. However, the market is limited by exorbitant costs of automated medical device additive manufacturing during the forecast period.
Based on technology, the medical device additive manufacturing market is segmented into laser sintering, stereolithography, electron beam melting, and extrusion. In 2019, the laser-sintering segment accounted for the highest share of the market. The market growth of this segment is attributed to the fact that there is no need to provide support structures for fragile and thin parts of devices, unlike the devices produced with the use of stereolithography. Further, high precision in geometries achieved by laser sintering is not possible with any other technology; thus, the market for this segment is expected to grow at the highest CAGR during the 2020-2027.
The healthcare sector has been witnessing rapid transformation since the last few years. Various technological advancements in the sector include the customization of medical devices, use of computing technologies to design medical devices, and restructuring the core build-up of these devices through technologies such as CAD-CAM and 3D printing. With a need for better healthcare facilities, technology-enabled care (TEC) solutions are being preferred in the healthcare systems in the emerging economies. The increase in elderly population, rise in incidence of chronic illnesses, and escalating need for pediatric care are the primary factors driving the growth of healthcare sector. Various established players in this sector have been investing significant amounts of their revenue in research and development activities for the development of better and advanced products as well as technologies. Also, the availability of reimbursement for various medical procedures is contributing to the growth of the sector.
Medical device companies in the world are investing in the expansion of their capabilities and operations. Leading market players such as Medtronic; Stryker; BD; and Baxter International, Inc. are investing significant percentage of their annual incomes in the development of their manufacturing capabilities by incorporating advanced technologies such as additive manufacturing in the overall processes. Thus, the potential advancements in the global healthcare sector provide significant opportunities to the medical device additive manufacturing market players to secure growth during the forecast period.
The COVID-19 outbreak was first reported in December 2019 in Wuhan (China), and with its spread to ~100 countries across the world, the World Health Organization (WHO) termed it a pandemic with public health emergency. In North America, the US has been profoundly affected by the outbreak. For instance, California-based Airwolf3D Company has proposed its fleet of 3D printers for the manufacturing of respirator valves and custom medical components. The company is also contributing remote technical support for medical staff that would be willing to know more about 3D printing. The use of 3D printing and additive manufacturing for the development of medical supplies and instruments in emergency is likely to be a prime opportunity for the market players.
3D Systems, Inc., GE Additives,Materialise NV, 3T Additive Manufacturing Limited, Renishawplc, Stratasys Ltd, Vaupell, Inc.,Precision ADM Inc, EOS GmbH, and Allevi, Inc. are among the leading companies operating in the medical device additive manufacturing market.
The report segments global medical device additive manufacturing market as follows:
ByTechnology
By Product
By Application
By Geography
Reasons to Buy:
According to our new market research study on Medical Device Additive Manufacturing Market to 2027 - COVID-19 Impact and Global Analysis- by Technology, Product, and Application, the market is expected to reach US$ 4,440.5 million by 2027 from US$ 1,350.4 million in 2019; it is estimated to grow at a CAGR of 16.2% from 2020 to 2027. Factors such increasing demand for additive manufacturing in healthcare, and rising incidence of musculoskeletal and dental diseases are expected to boost the growth of the global medical device additive manufacturing market. However, the market is limited by exorbitant costs of automated medical device additive manufacturing during the forecast period.
Based on technology, the medical device additive manufacturing market is segmented into laser sintering, stereolithography, electron beam melting, and extrusion. In 2019, the laser-sintering segment accounted for the highest share of the market. The market growth of this segment is attributed to the fact that there is no need to provide support structures for fragile and thin parts of devices, unlike the devices produced with the use of stereolithography. Further, high precision in geometries achieved by laser sintering is not possible with any other technology; thus, the market for this segment is expected to grow at the highest CAGR during the 2020-2027.
The healthcare sector has been witnessing rapid transformation since the last few years. Various technological advancements in the sector include the customization of medical devices, use of computing technologies to design medical devices, and restructuring the core build-up of these devices through technologies such as CAD-CAM and 3D printing. With a need for better healthcare facilities, technology-enabled care (TEC) solutions are being preferred in the healthcare systems in the emerging economies. The increase in elderly population, rise in incidence of chronic illnesses, and escalating need for pediatric care are the primary factors driving the growth of healthcare sector. Various established players in this sector have been investing significant amounts of their revenue in research and development activities for the development of better and advanced products as well as technologies. Also, the availability of reimbursement for various medical procedures is contributing to the growth of the sector.
Medical device companies in the world are investing in the expansion of their capabilities and operations. Leading market players such as Medtronic; Stryker; BD; and Baxter International, Inc. are investing significant percentage of their annual incomes in the development of their manufacturing capabilities by incorporating advanced technologies such as additive manufacturing in the overall processes. Thus, the potential advancements in the global healthcare sector provide significant opportunities to the medical device additive manufacturing market players to secure growth during the forecast period.
The COVID-19 outbreak was first reported in December 2019 in Wuhan (China), and with its spread to ~100 countries across the world, the World Health Organization (WHO) termed it a pandemic with public health emergency. In North America, the US has been profoundly affected by the outbreak. For instance, California-based Airwolf3D Company has proposed its fleet of 3D printers for the manufacturing of respirator valves and custom medical components. The company is also contributing remote technical support for medical staff that would be willing to know more about 3D printing. The use of 3D printing and additive manufacturing for the development of medical supplies and instruments in emergency is likely to be a prime opportunity for the market players.
3D Systems, Inc., GE Additives,Materialise NV, 3T Additive Manufacturing Limited, Renishawplc, Stratasys Ltd, Vaupell, Inc.,Precision ADM Inc, EOS GmbH, and Allevi, Inc. are among the leading companies operating in the medical device additive manufacturing market.
The report segments global medical device additive manufacturing market as follows:
ByTechnology
- Laser Sintering
- Stereolithography
- Electron Beam Melting
- Extrusion
By Product
- Surgical Instruments
- Implants and Prosthetics
- Surgical Guides
- Tissue Engineering
- Other Products
By Application
- Orthopedic
- Dental
- Craniomaxillofacial
- Bioengineering
By Geography
- North America
- US
- Canada
- Mexico
- Europe
- France
- Germany
- UK
- Spain
- Italy
- Asia Pacific (APAC)
- China
- India
- Japan
- Australia
- South Korea
- Middle East and Africa (MEA)
- Saudi Arabia
- UAE
- South Africa
- South and Central America (SCAM)
- Brazil
- Argentina
Reasons to Buy:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the medical device additive manufacturing market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the global medical device additive manufacturing market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.
Table of Contents
1. Introduction
3. Research Methodology
4. Global Medical Device Additive Manufacturing– Market Landscape
5. Medical Device Additive Manufacturing Market – Key Market Dynamics
6. Medical Device Additive Manufacturing Market – Global Analysis
7. Medical Device Additive Manufacturing Market Analysis – By Type
8. Medical Device Additive Manufacturing Market Analysis – By Product
9. Medical Device Additive Manufacturing Market Analysis – By Application
10. Medical Device Additive Manufacturing Market Analysis And Forecasts To 2027 – Geographical Analysis
11. Impact of COVID-19 Pandemic on Global Medical Device Additive Manufacturing Market
12. Industry Landscape
13. Company Profiles
14. Appendix
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- 3D Systems, Inc.,
- GE Additives,
- Materialise NV,
- 3T Additive Manufacturing Limited,
- Renishaw plc, Stratasys Ltd,
- Vaupell, Inc.,
- Precision ADM Inc,
- EOS GmbH
- STRATASYS LTD.
- Allevi, Inc.
