Major players in the 3D printed implants market are 3D Systems Corporations, Stratasys Ltd, Arcam AB, EnvisionTEC and SLM Solutions Group AG. The global 3D printed implants market is expected to grow from $0.
New York, Sept. 28, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "3D Printed Implants Global Market Report 2021: COVID-19 Growth And Change To 2030" - https://www.reportlinker.com/p06151552/?utm_source=GNW 14 billion in 2020 to $0.15 billion in 2021 at a compound annual growth rate (CAGR) of 7.1%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $0.27 billion in 2025 at a CAGR of 15.8%. The 3D printed medical implants market consist of sales of 3D printed medical implants and related services. In 3D printing technology, an artificial three dimensions physical object is created with the help of computer-aided design (CAD) or a magnetic resonance image (MRI), which can replaced the missing or defective body parts, to give support or recover damaged biological structure. 3D printed medical implants include 3D dental crowns, 3D dental bridges, 3D acetabular hip implants and shoulder implants. The 3D printed implants market covered in this report is segmented by application into dental, orthopedic, cranio-maxillofacial. It is also segmented by end users into medical and surgical centers, pharmaceutical companies, biotechnology industry, medical institution and by implantation technology into laser beam melting, electronic beam melting, droplet deposition, laminated deposition, two-photon polymerization. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. Stringent approval process for selection of a new material to be used in 3D implants is a time-consuming process that acts as a restraint for the 3D Printed Medical Implants market. 3D Printing requires high-quality materials that should adhere to specific criteria set by regulatory bodies such as US FDA. These regulatory bodies provide procedure guidelines, requirements, and monitor material quality control. For example, the US FDA approved spinal implants made from titanium alloy, but it didn’t approve titanium alloy to be used in any other medical device. For each new use of the material, manufacturing companies needs to get the approval again from regulatory bodies. This causes a lag in the manufacturer’s operational cycle and delays the product launch, thus affecting sales and restraining the growth of the 3D printed medical implants market. Many companies in this market are collaborating with various hospitals and rehabilitation centers to provide customizable devices for specific needs of patients.These collaboration are aimed to be mutually beneficial for both, as the companies can use the network of the hospitals to promote their product and the hospitals would get customizable devices at their convenience. For example, In January 2019, Renishaw, a global manufacturer of 3D implants, collaborated with University Dental Hospital of Wales (UDH), Cardiff, to help overcome challenges associated with surgical implants.This would help Renishaw to work with hospitals and become the major supplier of medical additive manufacturing devices. Similarly, in January 2019, Hospital for Special Surgery (HSS) collaborated with Lima Corporate to provide a 3D printed facility for orthopedic implants. This collaboration would help HSS to use Lima’s technology to produce new innovative products for orthopedic joint care and to expand its product portfolio. In August 2018, Stryker acquired K2M for $1.4 billion.K2M, established in 2004 and headquartered at Leesburg, US, provides complex spinal implants and minimally invasive solutions focused on achieving three-dimensional body balance. Stryker aims to expand its product portfolio through this acquisition and achieve leadership in the spine and neurotechnology market. Increasing prevalence of various medical conditions is driving the growth of the 3D printed medical implants market.As the number of people suffering from orthopedic, cardiac and dental diseases is increasing, the demand for 3D dental crowns, 3D dental bridges, 3D acetabular hip implants and shoulder implants and various other implants is rising. According to the World Health Organization (WHO), the US had around 65 million people suffering from periodontitis i.e. Inflammation and infection of the ligaments and bones that support the teeth. This mainly occurred due to rising prevalence of periodontitis, diabetes-related gangrene, osteoarthritis, and peripheral vascular disease. Similarly, the rise in prevalence of other medical conditions is driving the demand for use of 3D printed medical implants. The US FDA’s Center for Devices and Radiological Health (CDRH) is the regulatory authority for companies who manufacture, repackage, relabel, and/or import medical devices sold in the United States.The medical devices made using 3D printing technology are subject to regulatory requirements before they are marketed (premarket requirements), and also after they are marketed (post market requirements). FDA classifies 3D printed medical devices into three classes, i.e., Class I, II, and III, with regulatory controls minimum for class I devices and maximum for class III devices. Most class III devices require premarket approval whereas class I devices are exempted from the approval. The manufacturers of 3D printed medical implants are required to establish and follow quality systems to ensure that their products consistently meet applicable requirements and specifications. The manufacturers also need to comply with FDA’s standards regarding device design, manufacturing, and testing considerations during the development of 3D printed medical devices. The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. Read the full report: https://www.reportlinker.com/p06151552/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. 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