3D Printed Medical Implants Market Size, Share, Growth Trends, and Forecast Analysis
Global 3D Printed Medical Implants Market: Snapshot
Additive manufacturing, more popularly known as three-dimensional (3D) printing, is fast growing in potential in the health care industry. They are in particular harnessing the profound potential of patient-specific 3D-printed implants as a solution for range of hard-to-treat diseases. Examples are traumatic brain injuries and complicated spinal injuries where patient customization is difficult to achieve.
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Growing use cases of metal 3D printed medical implants to repair bone and cartilage defects has been growing hindered. The drive for the 3D printed medical implants market stems from this factor. The most significant proposition is perhaps the fact that 3D printed medical implants are patient specific.
With each passing day, techniques of printing these artificial implants incorporate new biomaterials, thereby advancing the scope of 3D printed medical implants in the health care market. Over the past few years, the market has seen the increasingly regulatory approval of 3D printed medical implants and their adoption in surgery. Apart from this, the contours of the market are constantly being reshaped by price considerations, practicable applications of 3D printing, and proclivity of medical practioners to expand the potential of the entire process.
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Global 3D Printed Medical Implants Market: Growth Dynamics
In recent years, the sales of craniomaxillofacial and dental implants have grown in numerous countries of developed regions. Growing demand for a range of patient-specific implants is boosting the 3D printed medical implants market. Researchers have been leveraging computer-aided design software to come out with new types of patient-specific artificial medical implants. The demand for safer and effective patient-specific treatments with 3D implants in the 3D printed medical implants market is the result of concerted efforts by physicians, manufacturers, and surgeons. Growing use of 3D printed medical implants in orthopedics is a key trend boosting the market. The advent of innovative design of implants help in reducing their stiffness and drive bone cell growth. Further, new opportunities have emerged on the back of user-friendly software.
Technological progress in the 3D printed medical implants market hinges increasingly on how well stakeholders navigate logistical and regulatory hurdles. Since the healthcare application of 3D printing is relatively recent, regulatory framework wields a marked impact on the evolution of the market. Further, these hurdles may impede fast commercialization of 3D printed medical implant in hospital settings.
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Global 3D Printed Medical Implants Market: Notable Developments
Eyeing the unparalleled potential of 3D printed medical implants, biotechnology companies, startups as well as established ones, have been entering into partnerships and agreements with universities to leverage the technology. This has augmented the potential of the 3D printed medical implants market. Their efforts to do so has gathered strength from the considerable medical burden that comes with certain conditions such as traumatic injuries.
Qrons Inc., a biotech company based in New York, has entered an Intellectual Property (IP) License Agreement with Dartmouth College, a private university in Hanover, New Hampshire. The agreement will enable the company to unveil 3D printed medical implants for traumatic brain injuries (TBI). The start-up has been intensely focusing on finding out novel solutions to penetrating brain injuries.
Various pioneers in 3D printing pinning large hopes on the potential of 3D printed medical implants are geared toward using their propriety technologies to unveil new implants. A case in point is proprietary 3D-printing platform used by Osseus Fusion Systems, a company based in Texas. The company bagged its clearance from the FDA in 2018 under 510(k).
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Global 3D Printed Medical Implants Market: Regional Assessment
On the regional front, North America and Europe have been fast expanding regions in the 3D printed medical implants market. The healthcare industries in these regions have been early adopters. In North America, implant makers in the U.S. and Canada are relentless working to unveil promising products to consolidate their footprints in the global 3D printed medical implants market. Growing numbers of implant manufacturers have forked out large sums to leverage the technology. On the other hand, Asia Pacific is showing vast potential. Strides made in 3D printing technologies are bolstering the regional prospects.
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