Rise in demand for customized medical devices and increase in manufacturing of advanced surgical tools

WILMINGTON, DELAWARE, UNITED STATES, October 18, 2023 /EINPresswire.com/ -- The Global 3D Printing Medical Devices Market is estimated to attain a valuation of US$ 6.6 Bn by the end of 2031, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 16.3 % during the forecast period, 2023-2031.

The key objective of the TMR report is to offer a complete assessment of the global market including major leading stakeholders of the 3D Printing Medical Devices industry. The current and historical status of the market together with forecasted market size and trends are demonstrated in the assessment in simple manner. In addition, the report delivers data on the volume, share, revenue, production, and sales in the market.

3D printing is playing a crucial role in the manufacture of advanced surgical tools, revolutionizing the way these tools are designed, manufactured, and used in medical procedures. 3D printing allows for the production of highly customized and patient-specific medical devices, addressing individual patient needs and anatomical variations. 3D printing allows for rapid prototyping and iterative design processes, reducing the time and cost required to develop new medical devices. This accelerates innovation and allows manufacturers to bring new products to market more quickly.

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3D Printing Medical Devices Market: Key Trends and Opportunistic Frontiers

• The rapid expansion of healthcare facilities in developing countries is creating value-grab 3D printing medical devices market opportunities for industry participants.

• Increasing regulatory approvals for 3D-printed medical devices in various regions are boosting the market. Regulatory agencies are recognizing the potential benefits of 3D printing while ensuring safety and efficacy.

• Medical device manufacturers are using 3D printing technology to rapidly prototype new device designs. This allows quick iteration and refinement, leading to faster development and better devices.

Key Takeaways from the Market Study

• As of 2022, the 3D printing medical devices market was valued at US$ 1.7 billion.

• In terms of technology the fused deposition modeling (FDM) technology segment held a major share, during the forecast period.

• Based on application, the wearable medical devices application segment is estimated to lead the global industry in the near future.

• Based on end-user, the commercial segment is expected to generate high revenue during the forecast period, due to the increased demand in restaurants, hotels, and coffee shops.

3D Printing Medical Devices Market: Competitive Landscape:

Some of the key manufacturers of 3D printing medical devices are 3D Systems, Inc., 3T Additive Manufacturing Ltd, Carbon, Inc, Cyfuse Biomedical K.K, EnvisionTEC, EOS GmbH Electro Optical Systems, FabRx Ltd, Materialise, Prodways Group, Renishaw plc, and Stratasys Ltd. These manufacturers are following the latest 3D printing medical devices market trends to avail lucrative revenue opportunities.

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3D Printing Medical Devices Market Research Methodologies and Approaches

The report on the 3D Printing Medical Devices market is prepared by employing well-validated research methodologies and approaches. The study authors have applied industry-validated tools for collection of data, including interviews, observations, surveys, questionnaire, and secondary research. The adoption of robust approaches for quantitative research measures makes the study offer holistic perspectives and unique.

Value Chain Analysis in 3D Printing Medical Devices Market: Trends and Industry Perspectives

The study presents a comprehensive insight into the value chain of the industry or industries associated with the 3D Printing Medical Devices market. It offers insights into trends shaping marketing channels that have delivered customer value. In understanding the marketspace, the business intelligence study evaluates changing consumer demands in various segments. Product/service segments where new strategies are required to attract demand are also highlighted in the study. The study offers business executives some of the pertinent consumer behavior models, which will help companies strengthen their prospects. The study offers a detailed evaluation on the changing attitudes and perceptions of customers to shed light on the potential revenue streams in the 3D Printing Medical Devices market.

Some of the key aspects that the study sheds light on are:

• What are some of the recent marketing warfare strategies that have impacted the development of the 3D Printing Medical Devices market?
• How are some of the large-sized players allocating funds to strategic business units to stay ahead of rivals and peers?
• What are some of the expansion strategies by new entrants and top players?
• How do new entrants intend to use business strategies for generating customer value?
• What are some of the consumer-oriented strategies by pioneers and innovators?
• How do established players intend to enter into new markets and grow their market shares during the forecast period of 2023 – 2031?

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3D Printing Medical Devices Market – Key Segments

Offering

• Hardware
• Software
• Services

Technology
• Electron Beam Melting (EBM)
• Laser Beam Melting (LBM)
• Direct Metal Laser Sintering (DMLS)
• Stereolithography (SLA)
• Fused Deposition Modeling (FDM)
• Selective Laser Melting (SLM)
• Selective Laser Sintering (SLS)
• Others (Photopolymerization, Digital Light Processing [DLP], etc.)

Material
• Plastics
• Biomaterial Inks
• Metals and Alloys

Application

• Surgical Tools and Guides
• Prosthetics Implants
• Orthopedic Implants
• Wearable Medical Devices
• Dentistry and Orthodontics
• Others (Tissue-engineered Products, Plastic and Reconstructive Surgeries, etc.)

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Nikhil Sawlani
Transparency Market Research Inc.
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