Global Orthopedic 3D Printing Devices Market 2019-2023
About this market
3D printing technologies are increasingly being used to develop patient-matched (or patient-specific) devices and surgical instrumentation by using a patient’s own medical imaging. The nature of additive layer manufacturing in 3D printing enables clinicians to fabricate customized implants that involve complex shapes and geometric features. 3D printing is also finding increasing application in the development of customized surgical implants. As 3D printing can quickly produce customized surgical implants, it solves an important problem in orthopedics, namely, that traditional implants are often unsatisfactory for a significant number of patients. Therefore, 3D printing is an effective solution for such patients as customized implants can be designed to fit precisely into any anatomical defects or malformations. Besides being anatomically correct, customized medical devices can be fabricated from high-quality and biocompatible materials. Technavio’s analysts have predicted that the orthopedic 3D printing devices market will register a CAGR of almost 26% by 2023.
Increasing number of orthopedic implant surgeries
The number of orthopedic implant surgeries such as knee replacement, hip replacement, shoulder replacement, and spinal implant and craniomaxillofacial implant procedures being performed worldwide is on the rise. After hip and knee replacement. shoulder replacement is the most common joint replacement surgery performed worldwide. Hence, several vendors are offering 3D printing technologies to meet the increasing demand for orthopedic implants.
High initial costs to set up a 3D printing facility
The high capital costs involved in the 3D printing of medical devices restricts its widespread adoption. The high costs are attributed to the cost of the equipment required for 3D printing or outsourced print service contracts as well as the advanced software used in post-processing activities. The time required to produce most 3D printed devices depends on the number of layers to be printed and may range from hours to several days. This limits the viability of their use in mass manufacturing in certain areas unless several hundred 3D printers are purchased and operated simultaneously. Such factors restrict the widespread adoption of orthopedic 3D printing devices.
For the detailed list of factors that will drive and challenge the growth of the orthopedic 3D printing devices market during the 2019-2023, view our report.
The market appears to be moderately fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
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