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 Technologies.
The global 3D printed implants market will grow from $2.25 billion in 2022 to $2.67 billion in 2023 at a compound annual growth rate (CAGR) of 18.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The 3D printed implants market is expected to grow to $5.36 billion in 2027 at a CAGR of 19.0%.
The 3D printed implants market consists of sales of 3D implants created by technologies such as laser beam melting, electronic beam melting, droplet deposition, laminated deposition, and two-photon polymerization. The market value includes the value of related goods sold by the service provider or included within the service offering.
3D printed implants are artificial devices used to replace a missing or damaged biological structure in the body and are manufactured by laying successive layers of material using inputs from a digital 3D model.
North America was the largest region in the 3D printed medical implants market in 2022.Asia Pacific was the second-largest region in the 3D printed medical implants market.
The regions covered in the 3D printed medical implants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main implantation technologies in 3D printed medical implants are laser beam melting, electronic beam melting, droplet deposition, laminated deposition, and two-photon polymerization.The laser beam melting is a manufacturing process in which 3D components are digitally cut into 2D layers by using a high-performance laser to melt and bond at these points.
The various applications include are dental, orthopedic, and craniomaxillofacial that are used by end-users such as medical and surgical centres, pharmaceutical companies, the biotechnology industry, and medical institutions.
The increasing prevalence of various medical conditions is driving the growth of the 3D printed medical implants market.As the number of people suffering from orthopedic, cardiac, and dental diseases is increasing, the demand for 3D dental crowns, 3D dental bridges, 3D acetabular hip implants, shoulder implants, and various other implants is rising.
According to the World Health Organization (WHO), the US had around 65 million people suffering from periodontitis i.e. Inflammation and infection of the ligaments and bones that support the teeth. This mainly occurred due to the rising prevalence of periodontitis, diabetes-related gangrene, osteoarthritis, and peripheral vascular disease. Similarly, the rise in prevalence of other medical conditions is driving the demand for use of 3D printed medical implants.
The stringent approval process for the selection of a new material to be used in 3D implants is a time-consuming process that acts as a restraint for the 3D Printed Medical Implants market. 3D Printing requires high-quality materials that should adhere to specific criteria set by regulatory bodies such as US FDA. These regulatory bodies provide procedure guidelines, requirements, and monitor material 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. For each new use of the material, manufacturing companies need to get approval again 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.
Many companies in this market are collaborating with various hospitals and rehabilitation centres to provide customizable devices for the specific needs of patients.These collaborations are aimed to be mutually beneficial for both, as the companies can use the network of the hospitals to promote their product and the hospitals would get customizable devices at their convenience.
For example, In September 2022, the US Food and Drug Administration (FDA) announced a collaboration with Veterans Health Administration (VHA) to encourage innovation in the 3D medical devices and implants. Similarly, in July 2022, Envista Holdings Corporation announced commercial partnership with dentalcorp Holdings to develop dental implants.
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 classifies 3D printed medical devices into three classes, i.e., Class I, II, and III, with regulatory controls minimum for class I devices and maximum for class III devices. Most class III devices require premarket approval whereas class I devices are exempted from the approval. The manufacturers of 3D printed medical implants are required to establish and follow quality systems to ensure that their products consistently meet applicable requirements and specifications. 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.
In 2020, Stryker has announced the acquisition of Wright Medical Group N.V., for an undisclosed amount. This acquisition increases Stryker global market position in trauma and extremities, issuing crucial opportunities to advance creativity and reach more patients. Wright Medical Group N.V., is US- based Company is a medical device company focused on extremities and biologics.
The countries covered in the 3D printed medical implants market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
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 does not include revenues from resales either further along the supply chain or as part of other products.
The 3D printed medical implants market research report is one of a series of new reports that provides 3D printed medical implants market statistics, including 3D printed medical implants industry global market size, regional shares, competitors with a 3D printed medical implants market share, detailed 3D printed medical implants market segments, market trends and opportunities, and any further data you may need to thrive in the 3D printed medical implants industry. This 3D printed medical implants market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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