3D Printed Medical Devices Market to See 16.4% Annual Growth Through 2023
Industry Boosted by Aging Populations, Growing Wealth
WELLESLEY, Mass., May 22, 2019 (Newswire.com) - Expanding economies and an aging global population are two factors helping to boost the 3D printed medical devices market, according to a report by BCC Research.
The market expects to see a compound annual growth rate (CAGR) of 16.4% through 2023, when it could be worth $6.6 billion, according to the report 3D Printed Medical Devices.
Major players in the market include 3D Systems, Adeiss, DePuy Synthes, Joimax, Luminex, Medtronic and Open Bionics.
Research Highlights
- 3D printed surgical and medical instruments lead the market by size, with a 2018 value of $2.4 billion, followed by printed implants at $273 million and printed orthopaedics and prosthetics at $195 million.
- For orthodontics, tapered dental implants will lead the market by growth, with a CAGR through 2023 of 7.4%, followed by parallel-walled dental implants at 3.9%.
- Africa will lead growth in the 3D printed artificial joints market, with a CAGR through 2023 of 20.6%, followed by North America at 7.0% and the Asia-Pacific region at 6.0%.
“3D printed medical devices have simultaneously been more in demand as consumers and industries see savings with 3D printed devices and appreciate the on-demand availability of the devices and the perfect-fit custom-made devices are a better product than traditional ‘one size fits all’ products,” notes report author Craig Barnes. “More recently, 3D printed orthodontic appliances are manufactured in-house at clinics, as 3D printers become more affordable and user friendly. 3D printed implants for hip and knee implants can match the exact contours of patients’ bones and therefore are more successful than traditional implants.”
Opportunities Await in the 3D Printed Orthodontic Appliances Market
Of particular interest is growth opportunity in the global 3D printed orthodontic appliances market. There is increasing demand for cosmetic dentistry, in particular to replace lost teeth and improve appearances. The growing popularity of dental tourism will further enhance the market, with patients traveling to secure the most advanced technologies at the lowest global prices.
Editors/reporters requesting analyst interviews should contact Sarah Greenberg at press@bccresearch.com.
Source: BCC Research
