Pune, India -- (SBWIRE) -- 04/11/2019 -- The latest report has been added to the wide database of 3D Printing Medical Device Market by Infinium Global Research. This report studies the 3D Printing Medical Device Market by technology (electron beam melting, selective laser, direct metal laser sintering), application (surgical guide, medical implant, surgical instrument), end user (medical and surgical centers, pharma, biotech companies) Industry Analysis, Trends, Size, Share and Forecasts to 2024 market status and outlook of global and major regions, from manufacturers, and end industries. The objective of the study is to identify market sizes of different segments & countries in recent years and to forecast the values for the next six years. 3D Printing Medical Device Market provides opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape, latest trends, and product offerings of the major companies in the 3D Printing Medical Device Market. the global 3D printing medical device market is projected to grow at a CAGR of 17.5% over the forecast period of 2018-2024.

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Market Insights

Easy development of customized medical products using 3D printing drives the growth of the 3D printing medical device market. Manufacturing of medical devices is an expensive process that required high precision. 3D printing enables the production of the medical and dental device for complex geometries at a commercially viable cost. It allows the mass customization of medical instruments and implants. It is a very cost-effective, efficient and customizable option for the medical devices industry for devices including dental implants, hearing aids, and prostheses. It is also used for creating patient-specific organ models that surgeons can use it for practice before performing complicated operations.

Various factors contribute in the growth of 3D printing medical devices including rapidly changing in medical practice, development of new medical procedures, improvements in existing procedures and growing demand of new and improved medical devices and diagnostics procedure. The growing acceptance and favorable government policies are anticipated to boost the demand for 3D printing in medical device manufacturing.

Market Segmented by Type

On the basis of Technology, the global 3D printing of medical device market is segmented into Electron Beam Melting, Selective Laser Melting, Photopolymerization, Direct Metal Laser Sintering, Laminated Object Manufacturing and Laser Beam Melting.

Electron beam melting is the process of 3D printing used in the printing of metal parts. In this process, the electric beam selectively metaled the thin layer of metal. This powder is then deposited in the form of thin layers to create the model. The electron beam is managed by the electromagnetic coils that provide extremely fast and accurate beam control. This electronic beam melting fabrication process provides robust, solid, high-quality metal structures in the medical devices applications. On the other hand, the selective laser melting is similar to laser melting but working with a laser instead of an electron beam. In addition, the growing demand for laser and electric beam melting processes drive the growth of these segment in the 3D printing of the medical device market.

Market Segmented by Applications

The report highlighted by applications of 3D printing in the medical device market into Surgical Guide, Medical Implant, Surgical Instrument, Bioengineering. Among these applications, Medical Implant, and Surgical Instrument applications hold significant market shares.

Food and Drug Administration (FDA) has approved more than 20 different implants ranging from cranial implants to hip, knee, and spinal implants approved with the help of several 3D printing technologies. The 3D printing offers cost-efficient production alternative to the conventional casting of medical implants that drives the growth of medical implants in the 3D printing in the medical devices market.

Market Segmented by End User

Global 3D printing of the medical device market by End User is segregated into Medical and Surgical Centers, Pharma and Biotech Companies, Academic Institutions. The rapidly growing demand for 3D printing devices from the medical and surgical centers are driving the growth of 3D Printing Medical Devices Market worldwide.

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Regional Analysis

The market analysis of 3D motion capture covers major geographic regions, such as North America, Europe, Asia-Pacific and Rest of the World (RoW). Among these geographies, North America holds the maximum shares in the 3d printing market followed by Europe. Various factors are responsible for the growth of the North America 3D Printing Medical Device market that includes ongoing technological advancements and developed healthcare infrastructure. Moreover, research and development initiatives by US government and the presence of some of the world's leading players are also anticipated to offer prominent opportunities for the growth of the 3D printing medical device market in forthcoming years.

Asia Pacific is expected to grow with the highest CAGR in the global 3D printing of medical device market owing to the growing healthcare infrastructure, rising demand for cost-effective medical implants and others.

Competitive Landscape

The key companies in the global 3D printing medical device market include 3D Systems Corporation, EnvisonTec, Stratasys Ltd, Arcam AB, Cyfuse Biomedical KK, Organovo Holdings, EOS GmbH, FabRx Ltd., Materialise NV, and Concept Laser. Rapid technological developments in the 3D printing enable start-ups to provide better and efficient solutions to the consumers. On the other hand, the dominating players in this market focusing on the acquisition of these new startups that will further help them to increase their product portfolio.

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Reasons to Buy this Report:

- Comprehensive analysis of global as well as regional markets of the 3D Printing Medical Device.

- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2024.

- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.

- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.