The global 3D printing medical implants market was valued at USD 1,592.6 million in 2020 and is predicted to reach USD 9069.9 million by the end of 2030, expanding impressive CAGR of 19% during the forecast period 2021 to 2030.
Key market Insights:
Growing adoption of 3D printing medical implants for the numerous evolving applications is projected to offer profitable growth prospects for the players in market. Increasing technological advancements and development in medical sector is a key factor driving growth of the global 3D printing medical implants market. There are many technologies recently launched which is generating high demand for the 3D implants. For instance, replicas of human anatomy, nano-materials, and polymer-based organs. Moreover, increasing development in various organs such as customized bone identical implant and CT-bone is supporting market growth. The controlled porosity of these implants makes them fit and identical to use in zygoma and mandible augmentation process. In addition, 3D printing enables to develop sharp and customized implants as per requirement which reduces the complexities in the surgery and provides comfort for the patient. These are some other factors supporting market growth. However, 3D printing is highly cost associated technology, which result in high end product cost and makes it unaffordable for majority of patients across the globe.
Crucial factors accountable for market growth are:
COVID-19 Impact on Global 3D Printing Medical Implants Market
The COVID-19 explosion has had an impact on world's primary markets. The effect of COVID-19 on the global industry is adverse. The North America is largest 3D printing in medical implants market, but supply and demand for the 3D printing in medical implants has decreased with spread of covid and lockout situations in the U.S. Because of COVID-19, instability of the supply chain, volatility in the supply of raw materials, inadequate manpower in the production facility and less demand for end-use customers have hindered the growth of the target industry in developed and developing economies worldwide. COVID-19, however, is increasingly resolving the situation and most companies are beginning facility at maximum capacity.
Future of Global 3D Printing Medical Implants Market
Main target-industry firms, such as 3D Bioprinting Solutions and Cyfuse Biomedical among others, Ltd. focuses on commercial development by implementing approaches such as innovative product introductions, volume expansion, and weighty manufacture investments are expected to grow in the near future with the global 3D printing in medical implants market growth. In the next 10 years, this tendency is projected to continue in global 3D printing in medical implants industry. Further, the outsourcing of printing material result in high product cost. However, key players can optimize the supply chain or develop raw material facilities in-house/ within country. This will help them to reduce the raw material cost and overall product cost.
Orthopedic segment is estimated to take over the Application Segment of 3D Printing Medical Implants Market Revenue
Orthopedic application segment will boost growth of the target industry during the forecast period of time. The segmental development will be powered by the adoption of metallic and polymeric implants for complex reconstructions, such as tumor surgery and craniomaxillofacial surgery.
Pharmaceutical and biotechnological companies Segment Is Foreseen to Lead the End user Segment of 3D Printing Medical Implants Market By Revenue
The pharmaceutical and biotechnological companies segment is dominant in terms of revenue during the forecast period of time. The pharmaceutical and biotechnological companies operating in the global industry are continually focusing on the development of the advanced products in order to cater the increasing demand as well as to enhance their market position. This factor is anticipated to augment growth of the segment in the coming years.
North America is projected to be the Biggest Market for 3D Printing Medical Implants
The research study deals with the industry prospects of 3D printing medical implants products around regions including Europe, North America, Latin America, Asia-Pacific, and Middle East and Africa. 3D printing medical implants market is taken by North America owing to increasing adoption of technically advanced products to improve health, particularly in the U.S. of the North America. Addition to this, presence of leading players in the region along with strategies that are implemented by the major players in the countries of North America is expected to witness substantial growth in the target industry in the near future. Asia Pacific is likely to list the noteworthy CAGR owed to increased awareness among the Asian population regarding benefits of medical implants.
Top Players contending in the Market:
Leading competitors contending in global 3D printing medical implants market are as follows:
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