3D Systems Corporations, Stratasys Ltd., EnvisionTEC and SLM Solutions Group AG are the major players in 3D printed medical implant market. Organovo HoldingsInc. is another player.
New York, Feb. 10, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “3D Printed Implants Global Market Report 2023” – https://www.reportlinker.com/p06277170/?utm_source=GNW
K. and Bio3D Technology.
Global 3D printed implants markets will rise from $2.25 Billion in 2022, to $2.67 Billion in 2023, at a compound annual growth rate of 18.9%. The Russia-Ukraine War has disrupted global economic recovery from COVID-19, at least for the short term. These two warring countries have imposed economic sanctions on many countries and caused a surge in commodity prices and supply chain disruptions. This has resulted in inflation across all goods and services, which affected many markets around the world. With a CAGR 19.0%, the market for 3D printed implants is expected to reach $5.36 Billion in 2027.
3D printed implants are the market for 3D-printed implants. This includes 3D implants made using laser beam melting or electronic beam melting, droplet dposition, laminated dépôt, two-photon polymerization, and droplet deposition. The market value also includes any related goods or services that the service provider sells.
3D printed implants can be used to replace an injured or missing biological structure. They are created by layering layers of material using digital 3D models.
North America was the largest market for 3D printed medical implant market in 2022. Asia Pacific was second.
The 3D printed medical implant market report covers Asia-Pacific and Western Europe.
The most common implantation technologies in 3D-printed medical implants are electronic beam melting and laser beam cutting.
These applications can be used for dental, orthopedic, or craniomaxillofacial purposes. They are also used by end-users like medical and surgical centers, pharmaceutical companies and the biotechnology industry.
The growing prevalence of various medical conditions is fueling the growth of the 3D printed market for medical implants.
According to the World Health Organization (WHO), there were approximately 65 million Americans suffering from periodontitis, i.e. Periodontitis refers to inflammation and infection in the ligaments and bones supporting the teeth. This was primarily due to an increase in the prevalence of diabetes-related gangrene and osteoarthritis. Similar to other medical conditions, increasing numbers are driving demand for medical implants 3D printed.
Time-consuming approval processes for selecting a material for 3D printed medical implants are a hindrance to the market for 3D Printed Medical Implants. 3D printing requires high-quality materials, which must meet specific standards set by regulatory agencies like the US FDA. These regulatory bodies set guidelines and requirements for 3D printing, as well as monitor quality control. For example, the US FDA approved spinal implants made from titanium alloy, but it didn’t approve titanium alloy to be used in any other medical device. Each new use of the material requires approval from regulatory bodies. This causes a lag in the manufacturer’s operational cycle and delays the product launch, thus affecting sales and restraining the growth of the 3D printed medical implants market.
Companies in this market have partnered with many hospitals and rehabilitation centers to offer customized devices to patients.
For example, in September 2022, US Food and Drug Administration announced a collaboration to Veterans Health Administration (VHA), which aims to foster innovation in the field of 3D medical devices and dental implants. Envista Holdings Corporation, which is developing dental implants, announced a commercial partnership in July 2022 with dentalcorp Holdings.
The US FDA’s Center for Devices and Radiological Health (CDRH) is the regulatory authority for companies that manufacture, repackage, relabel, and/or import medical devices sold in the United States.The medical devices made using 3D printing technology are subject to regulatory requirements before they are marketed (premarket requirements), and also after they are marketed (post-market requirements).
FDA divides 3D-printed medical devices into three categories: Class I, II and III. The regulatory controls for class I devices are minimal and those for class III devices are maximum. Class III devices need to be approved before they can be sold, while class I devices are exempted. 3D printed medical implant manufacturers must implement quality control systems in order to ensure that the products comply with all applicable specifications and requirements. The manufacturers also need to comply with FDA’s standards regarding device design, manufacturing, and testing considerations during the development of 3D printed medical devices.
Stryker announced in 2020 the acquisition Wright Medical Group N.V. for an undisclosed sum. This acquisition enhances Stryker’s market position globally in trauma and extremities. It also opens up opportunities to increase creativity and reach more people. Wright Medical Group N.V. is a US-based medical device company that focuses on biologics and extremities.
The 3D-printed medical implants market covers Australia, Brazil, China and France, Germany.
Market value refers to the revenue that businesses receive from the sale of goods and/or service within a specified market or geography, through sales, grants, and donations in currency (in USD ($), unless otherwise stated.
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It doesn’t include revenues from resales further down the supply chain, or as part of any other products.
This report provides market statistics for 3D-printed medical implants. It includes market size and regional shares of the 3D-printed medical implant industry, as well as detailed market segments and market trends. This market research report on 3D printed medical implant markets provides a comprehensive overview of all aspects of the industry, including an analysis of its future and current situation.
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