3D Printed Medical Implants Market Moving Toward 2024 With New Procedures
3D printing, also known as additive manufacturing, refers to addition of successive layers of raw material to produce objects forming three-dimensional file. In medical terms, 3D printed medical implants allow surgeons in surgery by implantation of biological objects, reduces risks involved during surgeries, decrease in anesthesia exposure duration, and risk of infection. 3D printing is a rapidly emerging technology which empowers key manufacturer in the medical field to form the customized medical products and implant them by replacing the damaged biological structure. 3D printed medical implantation allow patients in rapid recovery and thereby, it reduces hospital stay. Moreover, preclinical testing prior to implantation of 3D printed organs reduces chances of implant rejection.
Increasing prevalence for the need of medical implant and Collaboration of manufacturers increases the demand for the market
According to the World Health Organization (WHO), in 2015, around 65 million people suffered with periodontitis in U.S. This is mainly owing to factors such as rising prevalence of periodontitis, diabetes-related gangrene, osteoarthritis, and peripheral vascular disease, which in turn, increases the use of 3D printed medical implants. Rapid technological advancement in the medical field is expected to witness growth in 3D printed medial Implants market during the forecast period. Moreover, increasing opportunity in biomedical applications and collaboration between manufacturing industries to increase product development has augmented the market growth. In addition, factors such as increased occurrence of chronic diseases such as bone-dental diseases and increase in number of accidents, expected to propel the 3D printed medical implant market growth over the forecast period.
However, critical reimbursement policies, the high cost of implanting and printing procedure, lack of technical expertise, and biocompatibility issues associated with medical implantation are some of the factors hindering the market growth.
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Rising need for medical implantation due to high prevalence of bone-dental disorders fuels the market growth in North America
North America holds the major share in the global 3D printed medical implant market and expected to retain the same position over the forecast period. U.S. accounts for a major share in 3D printing medical implantation market in North America. It is expected to remain the center for medical field development as it adopts new technological advancement to maintain the better health of individuals as well as economic position of the region. According to World Health organization (WHO), in 2016, around 65 million people suffered from bone-dental related disorders and around 18 million people met with road accidents. Thus, high prevalence of need for medical implantation, reduced costs of implantation procedures, and availability of expert surgeons in the U.S., accounted in the leading position of North America. Europe is expected to be the second largest market for the 3D printed medical implants over the forecast period. This is mainly due to the rising number of 3D printed medical implant manufacturers in the region. According to the World Health organization (WHO), in 2015, more than 12 million people suffered from bone-dental disorders in U.K. Increase in number of people suffering from dental-related disorders and increased rate of personal care, are some of factors driving the 3D printed medical implant market growth.
New product launch by key players to hold a global position throughout the global market
Some of the key players operating in the global 3D printed medical implants include 3D Systems Corporations, Stratasys Ltd, EnvisionTEC, Arcam AB, Organovo Holdings, Inc., EnvisionTEC, Arcam AB, SLM Solutions Group AG, Oxford Performance Materials, Inc., Materialise NV, Bio3D Technologies, and Cyfuse Medical K.K.
The key players are focusing on market strategies to expand their global market. New product launch and technological advancements to increase portability, energy efficiency, and cost efficiency for 3D printed medical implanting procedures and developing software for predicting the mechanical-thermal properties of the object are expected to enhance the scope for this market. For instance, Stratasys Ltd launched Objet30 Dental Prime in 2015, which is used for low-cost and high-quality medical implantation procedure.
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