Medical Printing to Reach $2.13 Billion

The market for 3D printing medical devices is set to have a compound annual growth rate (CAGR) of 25.3% from 2015 to 202, reaching $2.13 billion over five years.

The report, “3D Printing Medical Devices Market - by Component (3D Printers, 3D Bioprinters, Materials, Services & Software), Technology (EBM, LBM, Photopolymerization, 3DP, and DD), Medical Products (Surgical Guides, Equipment, Implant) - Global Forecast to 2020,” is available from Markets and Markets.

The report breaks the market down by printing technology, including electron beam melting (EBM), laser beam melting (LBM), photopolymerization, droplet deposition (DD) or extrusion-based technologies, and three-dimensional printing (3DP) or adhesion bonding.

According to the report, a number of factors such as continuous technological advancements in 3D printing, rising public and private investments, and growing acceptance of 3D-printed organs and implants are driving that growth. In addition, growing demand for organ transplantation, increased mergers and acquisitions, and the expiration of key patents are offering new growth opportunities.

Costs and a complex regulatory environment are the key obstacles for growth in healthcare.

Currently, North America is the largest market for medical device printing, followed by Europe. Asia-Pacific is expected to see the most growth through 2020 because of increased government funding, new research and training centers, and rising awareness of 3D printing in the region.

Earlier this summer, Gartner released its “Hype Cycle for 3D Printing, 2015,” which indicated that medical products were leading some of the most significant new developments in the industry, and that 3D-printed hip and knee implants would be in mainstream use within two to five years.

“In the healthcare industry, 3DP is already in mainstream use to produce medical items that need to be tailored to individuals, such as hearing aids and dental devices,” said Pete Basiliere, research director at Gartner. “This is evidence that using 3DP for mass customization of consumer goods is now viable, especially given that the transition from traditional manufacturing in this market took less than two years. Routine use of 3DP for dental implants is also not far from this level of market maturity.”

Source: MarketWatch