The market growth is primarily assisted by advancements in 3D printing technology, surging government spending in healthcare sector, increasing usage of 3D printed medical devices for medical procedures, and relative simplification of the manufacturing process of 3D printed medical devices. Introduction of computer-aided Design (CAD) for 3D printing can create trail ready devices, thereby reducing manufacturing time, time to market as well as operational cost.
Although metals and alloys are most preferably used for 3D printed medical devices, biomaterial inks are expected to gain traction during the forecast period owing to their highly biocompatible and versatile physical properties.
PolyJet - InkJet 3D printing technology currently holds maximum share of 3D printed medical devices market. However, consistent development and adoption of innovative technologies may reduce the 3D printed medical devices market share of this technology during the forecast period.
The use of 3D printing technology in orthopedic implants is shaping the future of 3D printed medical devices market. It currently accounts for nearly half of the market value.
The consistently expanding patient pool and growing preference for personalized implants in joint replacement surgeries will remain key boosters to growth of 3D printed medical devices demand in orthopedics.
Asia Pacific has become the global hub of opportunities, and the leaders in 3D printed medical devices landscape have been eyeing the opportunity here, owing to the massive application scope, remarkably growing patient population, and relatively less manufacturing costs.
Until late 2016, the key focus of most leading players in the 3D printed medical devices market was geographic expansion through acquisition and merger. In May 2016, Johnson & Johnson announced collaboration with a subsidiary of HP Inc. for manufacturing personalized healthcare solutions at reduced costs through 3D printing techniques. J&J collaborated with Organovo to carry out feasibility study on bio printed human tissue for testing new medications to work with Carbon 3D, famous for ultra-fast Continuous Liquid Interface Production (CLIP) technology for production of custom surgical devices.
The focus is now gradually shifting towards expansion through strategic partnerships to improve their distribution network. For instance, in 2017, Envision partnered with ScanSource Inc. to deliver 3D printing solutions to resellers in the Americas. Similarly, in 2018, 3D Systems and Stryker announced distribution partnership for VSP (Virtual Surgical Planning) and anatomical models for carniomaxillofacial specialty.