Many orthopedic implants created via 3D printing are composed of titanium, and higher porosity in the implants is now possible, the technology research firm says
August 18, 2022
NEW YORK—The global market for 3D-printed medical devices is forecast to grow by $2.3 billion (USD) between 2021 and 2025, with 38 percent of that growth occurring in North America, according to a release from the technology research and advisory company Technavio.
Increased demand for personalized or customized medical devices, combined with emerging technological advances, are projected to provide immense growth opportunities. The global market for 3D printing of medical devices market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Overall growth of the market is forecast to accelerate at a compound annual growth rate (CAGR) of 17.8 percent, Technavio said in the release.
The orthopedic and spinal segment is expected to increase its market share in 3D-printed medical equipment significantly. Many of the orthopedic implants created with 3D printing are composed of titanium, and technology has enabled greater porosity in the implants than had been possible with traditional manufacturing methods, the company said.
Spinal implant designers can improve the functionality of their creations through 3D printing. With the use of this technique, they may create fusion interbody devices using materials that are known to be osteoconductive and biocompatible, according to Technavio.
Technavio published a report, “3D Printing Medical Devices Market by Application and Geography – Forecast and Analysis 2021-2025,” to help businesses navigate this market. The report is said to provide a detailed analysis of some 25 vendors operating in the market.