The medical device additive manufacturing market size is projected to reach US$ 25.62 billion by 2031 from US$ 6.93 billion in 2023. The market is expected to register a CAGR of 17.7% during 2023–2031. The development of novel medical devices using CAD-CAM and 3D printing and the demand for personalized medicine are likely to remain key trends in the market.
The additive manufacturing (AM) method, also known as 3D printing, has the potential to produce innovative medical devices and instrumentation, including orthoses, prostheses, medical models, inert implants, and biomanufacturing. AM allows companies to provide extensive customization based on individual patient requirements for medical applications by saving time and reducing the wastage of raw materials. The technique helps overcome the constraints of conventional manufacturing methods—mainly associated with mass customization, fabrication, milling, casting, forging, and so on. Additionally, recent advancements in biomaterials catalyze the clinical implications of healthcare products using AM technology.
As highlighted by the AM3D Printing annual medical report by A. S. of Mechanical Engineers (ASME), material extrusion was found to be the most popular category with 55% usage in 2022, followed by vat photopolymerization with 57% and powder bed fusion with 51% acceptance rate. The rest of the processes had a shorter contribution in the medical sector. The US Food and Drug Administration (FDA) encourages the utilization of advanced technologies, including medical device additive manufacturing, to yield better outputs. For instance, in June 2023, the FDA established an additive manufacturing lab to enhance its readiness to handle medical device issues during premarket and post market stages. Therefore, the increasing investments in life science research and medical device technology by the government and private sectors favor medical device additives manufacturing market growth.
Permanent orthopedic implants such as joint replacements for the knee, hip, or wrist or some of the temporary fixation devices such as plates, pins, screws, and wires can be inserted into the body to let fractured bones heal within a short period. These devices are designed using AM technologies and offer advantages such as choice of customization, option for appropriate and wide range of materials, and the ability to design complex shapes and structures. Propelling incidences of orthopedic interventions and endodontic operations are significant drivers of medical device additive manufacturing market share.
The healthcare industry is increasingly focused on achieving better patient outcomes through personalized medical devices that match each patient's anatomy or physiology. Examples include orthopedic implants and prosthetic leg sockets. Personalized medical devices offer several advantages, including reducing the cost of care, improving functionality and aesthetics, and increasing load distribution. Advanced technologies such as additive manufacturing and medical imaging can support the design and manufacturing. As per an article published by the MDPI Journals in April 2022, tailoring drug doses, dosage forms, and drug release adjustments to individual patients can optimize their therapy. Extrusion-based 3D printing techniques, such as fused filament fabrication (FFF) and semi-solid extrusion (SSE), are versatile, precise, feasible, and cost-effective. Hence, AM technology is seen to have a positive impact on the market, as it has an opportunity to customize medical devices to cater to the specific needs of the patients.
Key segments that contributed to the derivation of the medical device additive manufacturing market analysis are technology, product, and application.
The geographic scope of the medical device additive manufacturing market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America. Asia Pacific is expected to grow with the highest CAGR in the coming years.
The medical device additive manufacturing market in North America is analyzed based on the three major countries: the US, Canada, and Mexico. The US is estimated to have a larger share of the North America medical device additive manufacturing market in 2023. The growth in this region is characterized by increased demand for customized devices and advancements in medical device technologies supported by many investors and government funding.
Moreover, increasing focus on advanced method incorporation in healthcare, government, and private initiatives for the promotion of early disease diagnosis and increasing focus toward research in customized medical devices is further expected to stimulate the growth and contribute to exceptional revenue generation for the medical device additive manufacturing market in North America.
The regional trends and factors influencing the Medical Device Additive Manufacturing Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Medical Device Additive Manufacturing Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
Report Attribute | Details |
---|---|
Market size in 2023 | US$ 6.93 Billion |
Market Size by 2031 | US$ 25.62 Billion |
Global CAGR (2023 - 2031) | 17.7% |
Historical Data | 2021-2022 |
Forecast period | 2024-2031 |
Segments Covered |
By Technology
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
The Medical Device Additive Manufacturing Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Medical Device Additive Manufacturing Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The medical device additive manufacturing market is evaluated by gathering qualitative and quantitative data from primary and secondary research, which includes essential corporate publications, association data, and databases. A few of the developments in the medical device additive manufacturing market are listed below:
The “Medical Device Additive Manufacturing Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
North America dominated the medical device additive manufacturing market in 2023.
Factors Including mounting demand for additive manufacturing in healthcare, recent advancements in biomaterials, rising government funding and product launches by the market players are the driving factors the medical device additive manufacturing market growth.
Development of novel medical devices using CAD-CAM and 3D printing and the demand for personalized medicine are future trends in the market.
3D Systems, Inc; GE Additives; Materialise NV; 3T Additive Manufacturing Limited; Renishaw plc; Stratasys Ltd; Vaupell, Inc; PRECISION ADM INC; EOS Gmbh; and ALLEVI, Inc are some leading players operating in the medical device additive manufacturing market.
The medical device additive manufacturing market is estimated to reach US$ 25.62 billion by 2031.
The medical device additive manufacturing market is anticipated to grow at a CAGR of 17.7% during 2023-2031.