The rising development of global healthcare infrastructure is anticipated to drive the growth of the global orthopedic 3D printing devices market during the forecast period from 2023 to 2032. The North America region is projected to hold a major market share by 2032.
PORTLAND, Ore., July 24, 2023 /PRNewswire/ -- Allied Market Research has recently published a report, titled, "Orthopedic 3D Printing Devices Market by Type (Plastics, Biomaterials, Nylon, Wax, Ceramics, others), by Application (Orthopedic implants, Surgical planning, Surgical instruments): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global orthopedic 3D printing devices market generated $2 billion in 2022, and is anticipated to generate $5.3 billion by 2032, witnessing a CAGR of 11.2% from 2023 to 2032.
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Prime Determinants of Growth
In the last few years, there has been a steady increase in the development of healthcare infrastructure across the world. This has led to a growth in demand for orthopedic 3D printing devices which is predicted to be one of the important factors driving the growth of the global orthopedic 3D printing devices market in the forecast timeframe. However, the high initial cost of orthopedic 3D printing devices may hamper the orthopedic 3D printing devices market growth in the coming period. On the contrary, growing investments in the research and development of 3D printing devices is expected to offer growth opportunities for expansion of the orthopedic 3D printing devices market in the 2023-2032 forecast period.
Report Coverage & Details:
Report Coverage | Details |
Forecast Period | 2023–2032 |
Base Year | 2022 |
Market Size in 2022 | $2 billion |
Market Size in 2032 | $5.3 billion |
CAGR | 11.2 % |
No. of Pages in Report | 280 |
Segments covered | Type, Application, and Region |
Drivers | Increasing pace of development of global healthcare infrastructure Increasing investments in the research and development of orthopedic 3D printing devices |
Opportunities | Rising demand for personalized and customized solutions tailored to suit individual patients Increasing tendency to introduce innovation and advancement in the medical sector |
Restraints | High initial cost of orthopedic 3D printing devices |
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COVID-19 Scenario
- The outbreak of the COVID-19 pandemic has had a negative impact on the growth of the global orthopedic 3D printing devices market. The travel restrictions and lockdowns led to disruptions in production cycles of various companies manufacturing orthopedic 3D printing devices. As a result, there was a decline in the growth rate of the market.
- Also, the demand for orthopedic 3D printing devices reduced during the pandemic period as elective surgeries, including orthopedic procedures, were postponed or canceled due to fear of infection.
- The orthopedic 3D printing devices market is, however, projected to show steady growth in the future due to the development of global healthcare infrastructure.
Orthopedic 3D Printing Devices Market Segment by Type: Plastics Sub-segment Projected to Gather a Huge Revenue During the Forecast Period
The plastics sub-segment accounted for the highest orthopedic 3D printing devices market share in 2022 and is expected to garner large revenue during the forecast period. Plastics play an important role in the medical device industry due to their unique properties such as incompatibility, low cost, and ready availability. These advantages of plastics is predicted to boost the sub-segment's growth by 2032.
Orthopedic 3D Printing Devices Market Segment by Application: Orthopedic Implants Sub-segment Projected to be One of the Most Profitable by 2032
The orthopedic implants sub-segment accounted for the highest orthopedic 3D printing devices market share in 2022 and is expected to grow at a stunning CAGR of 11.9% during the forecast period. Rise in the number of patients seeking orthopedic implant surgery has led to an increase in demand for orthopedic 3D printing devices. This growth in demand is predicted to boost the sub-segment's growth by 2032.
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Orthopedic 3D Printing Devices Market Segment by Region: North America Market to be one of the Fastest Growing by 2032
The North America region accounted for the highest share in the global orthopedic 3D printing devices market in 2022 and is expected to continue on this growth trajectory during the forecast period. The increasing prevalence of orthopedic diseases such as osteoporosis and other bone related diseases and the increasing risk of fractures due to an aging population are expected to be the main growth drivers of the market in North America region by 2032.
Leading Players in the Orthopedic 3D Printing Devices Market
- Stryker
- General Electric
- Abbott
- 3D Systems Corp.
- Smith & Nephew
- Zimmer Biomet Holding Inc.
- ENVISIONTEC US LLC
- Johnson & Johnson
- Aspect Biosystems Ltd.
- EOS GmbH Electro Optical Systems
The report provides a detailed analysis of the key players of the global orthopedic 3D printing devices market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain their dominance in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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