New York, Feb. 10, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "3D Printed Prosthetics Global Market Report 2023" - https://www.reportlinker.com/p06277176/?utm_source=GNW
The global 3D printed prosthetics market will grow from $0.96 billion in 2022 to $1.04 billion in 2023 at a compound annual growth rate (CAGR) of 8.8%. 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 prosthetics market is expected to grow to $1.44 billion in 2027 at a CAGR of 8.4%.
The 3D printed prosthetics market consists of sales of 3D printed instruments such as sockets, limbs, joints, covers, and others.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
3D printed prosthetics are artificial devices that replace a missing body part 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 printing medical prosthetics market in 2022.Asia Pacific was the second-largest region in the 3D printing medical prosthetics market.
The regions covered in 3D printed medical prosthetics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types in the 3D printed medical prosthetics are sockets, limbs, joints, covers, and others.The prosthetic limbs are used as artificial limbs for those who need limbs.
These are made up of various materials such as polypropylene, polyethylene, acrylics, and polyurethane. These are used by end-users such as hospitals, rehabilitation centres, and prosthetic clinics.
The rising number of accidental injuries is driving the growth of the 3D printing prosthetic devices market.Accidental injuries can cause serious damage to a person, and these injuries can sometimes lead to amputation.
In2021, car crashes in the US resulted in the death of 42915 people which was the highest in 16 years .According to a report from National Centre for Health Statistics, approximately 50,000 new amputation cases come up each year in the US.
An increase in incidences of other medical conditions such as diabetes and vascular diseases is also leading to a rise in amputation cases, thus boosting the sales of 3D printing prosthetics. For instance, according to a report published in the American Journal of Managed Care, it was estimated that, globally, one patient leg is amputated every 30 seconds and around 85% of these amputations were a result of a diabetic foot ulcer.
The delay in elective procedures attributed to the coronavirus outbreak is to act as a major factor to limit the growth of the 3D printed medical prosthetics market.Many countries and hospitals have diverted their healthcare resources to deal with COVID-19 patients.
For instance, according to the Centers for Medicare & Medicaid Services (CMS) safety guidelines released in March 2020, all the elective and non-essential surgical, dental, and medical procedures are delayed in the USA during the 2019 Novel Coronavirus (COVID-19) outbreak. Hence, the delays in surgical or elective procedures are projected to decline the demand for the 3D printed medical prosthetics market shortly.
Companies in the 3D printing prosthetics market are focusing on the development of waterproof prosthetic devices.The aim behind this innovation is to provide the user with an increased range of mobility, especially in athletics.
In October 2020, Braskem, Americas leading producer of biopolymers has launched Braskem e-NABLE Chapter for Philanthropic Creation of 3D Printed Prosthetic Devices. Braskem was selected to be certified to produce the e-NABLE Phoenix V3 prosthetic hand as it is one of the most commonly produced e-NABLE prosthetic devices.
The countries covered in the 3D printing medical prosthetics 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 prosthetics market research report is one of a series of new reports that provides 3D printed medical prosthetics market statistics, including 3D printed medical prosthetics industry global market size, regional shares, competitors with a 3D printed medical prosthetics market share, detailed 3D printed medical prosthetics market segments, market trends and opportunities, and any further data you may need to thrive in the 3D printed medical prosthetics industry. This 3D printed medical prosthetics 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.
Read the full report: https://www.reportlinker.com/p06277176/?utm_source=GNW
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