On May 29, 2024, Antarctic Bear learned that according to the market Research report "Market Trends and Opportunities for Medical Devices" recently released by Additive Manufacturing Research: Prosthetics, dentistry, Hearing, by 2034, the 3D printed medical device market is expected to expand from $4.5 billion (about 32.6 billion yuan) in 2023 to $16.5 billion (about 119.5 billion yuan). With a compound annual growth rate (CAGR) of 12% over the next decade, the growth momentum is very strong.
3D brings revolutionary changes to the traditional medical industry
Over the past two decades, 3D printing has not only improved patient outcomes, but also made healthcare more convenient. In the dental industry, 3D printing can make crowns, Bridges and dentures quickly and with high precision, and even provide same-day services to patients. Custom hearing AIDS and other hearing devices, such as cochlear implants, have become more accurate and comfortable, improving the quality of life for people with hearing impairment. In addition, surgeons now use 3D printed models and guides for preoperative planning, which reduces errors and improves surgical outcomes.
During a global supply chain crisis, 3D printing has played a vital role in addressing production challenges, streamlining supply chains, and bringing device design and production closer to patients and healthcare providers. The ability to quickly produce essential medical supplies such as personal protective equipment (PPE) and ventilator parts is a testament to the flexibility and rapidness of 3D printing technology.
As the industry evolves, the integration of 3D printing technology is expected to drive significant growth in the industry, especially in prosthetics, hearing, and dental care. Orthopaedic solutions including custom 3D printed braces, splints and implants are also becoming increasingly important as they provide better fit and functionality. In addition, creating personalized drug delivery systems, such as customized pills, can improve treatment outcomes and help patients adhere to their medications.
Several key trends and opportunities in the 3D printed medical device market
The report states that the continuous innovation of application-specific 3D printing platforms is the main driver of market growth, especially in the dental sector. These technological advances have increased the precision and customization of medical devices, making them more effective and tailored to the individual needs of patients.
Another important trend is the digitization of the healthcare and medical device supply chain. This shift makes production processes more efficient and responsive, which is critical to sustaining the growth of 3D printing technology adoption. By using digital tools and technologies, the healthcare industry can streamline operations and improve patient care.
In addition, regulatory bodies such as the US Food and Drug Administration (FDA) and the European Medicines Agency (EMA) are also gradually guiding the development of 3D printed medical devices. Regulatory progress is key to greater acceptance and integration of 3D printed devices in healthcare. With clear guidance and support from these institutions, manufacturers can be more confident in developing and selling innovative 3D printing solutions, ensuring they are safe and effective for patients.
Report breakdown and forecast
The report provides a detailed analysis of technology, materials and services. This segmentation helps stakeholders identify specific growth areas and opportunities within the evolving 3D printing ecosystem. The data shows that the services segment accounts for a considerable percentage of the market revenue, followed by materials and hardware.
According to the report, the market revenue for 3D printed medical devices is expected to grow steadily from 2022 to 2034, with total revenue expected to reach $16.5 billion by 2034. This growth is mainly coming from different segments, with services expected to contribute $11.5 billion, materials $3.7 billion, and hardware $1.3 billion. This growth trend shows that 3D printing technology is increasing in importance and application in the medical device industry.
The report also features key suppliers to the 3D printing industry, including 3D Systems, Formlabs, Stratasys and Materialise. These companies are at the forefront of innovation, providing the technologies and materials necessary to advance the medical device industry.
With the continuous development of 3D printing technology, its application in the medical device industry will also be further expanded. The report expects that the continuous advancement of 3D printing platforms, coupled with regulatory support and digital supply chains, will continue to drive market growth.