Medical Device 3D Printing Market by Product type, by Material type, by Technology and by Region - Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021).
According to the report Middle East and Africa Medical Device 3D Printing Market, published by Market Data Forecast, the Middle East and Africa market is projected to reach USD 223.44 million by 2021, at a CAGR of 25.27% from 2016 to 2021.
Additive manufacturing or 3D printing uses a layer-by-layer addition technique to manufacture physical objects from a three-dimensional digital file. The 3D printing technology is poised to capture the rising demands of personalized medical care by providing customized medical devices based on individual needs.
Additionally, it enables surgeons to plan surgeries, thereby helping to reduce the operative risks involved during complex procedures, the risk of infection, and reduce the duration of anaesthesia exposure.
Additionally, 3D printing technology would facilitate surgeons to enhance the success rate of complicated procedures.
Furthermore, this technology has revolutionized preclinical drug testing by facilitating testing on 3D printed organs as an alternative to animal testing. The recent success in the 3D printing of tablets has opened new avenues for the 3D printing technology for use in the pharmaceutical industry.
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Medical Device 3D Printing Market: Drivers & Restraints
This market is estimated to witness considerable growth during the aforementioned forecast period. Additionally, augmented R&D investments, rapidly expanding customer base, increasing the scope of biomedical applications, and extensive R&D activities at the academic and industrial level have propelled the growth of this market.
Moreover, collaborations between academic institutions and companies to accelerate the process of product development has supplemented the market growth.
But still, the absence of an organized regulatory framework, unfavourable reimbursement policies, high costs associated with printers, copyright & patent infringement concerns, biocompatibility issues of 3D printed medical devices, and limited technical expertise are the primary factor hindering the growth of the market.
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Middle East and Africa Medical Device 3D Printing Market: Segmentation
By Product Type
o Medical Implants
o Tissue Engineering
o Surgical Instruments
o Surgical Guides
o Hearing & Audibility Aid
• Metal & Metal Alloys
• Laser Beam Melting (LBM)
• Electron Beam Melting (EBM)
• Droplet Deposition
• Wax deposition Modelling
• Bio Printing
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Middle East and Africa Medical Device 3D Printing Market: Overview
Plastics viz., acrylonitrile butadiene styrene (ABS), and polylactic acid (PLA) coupled with nylon, have seen a growing usage primarily due to the comfortability and simplicity in application. Furthermore, use of metals with high strength and resistance is anticipated to have fastest growth in the forecast period.
The photo polymerization technology category is expected to account for the largest share of the global market in 2017. This is due to the widespread application of this technology across the medical industry, for manufacturing surgical guides (orthopaedic, dental, and CMF guides), prosthetics and implants, porous scaffolds, and dental restorations.
The surgical guides category is anticipated to command the largest share of the 3D printing medical device market in 2017. The growing usage of the digitally driven process for accurate surgical planning is the key factor contributing to its market growth.
Middle East and Africa Medical Device 3D Printing Market: Region-wise Outlook
On the basis of geography, the Middle East and Africa market is categorized into Middle East and Africa. South Africa being the most developed country in the African region offering large market breaching its borders to reach the potential users in the developing African countries.
In the Middle East, some being the world richest countries, thanks to the oil money, is also a potential market for 3D printed medical device as money is not a barrier here but inadequate support from governments can be an issue for sustainable growth.
Key Questions Answered
• What is the current and future Medical Device 3D Printing market outlook in Middle East and Africa? What trends are affecting the Middle East and Africa market?
• What is the competitive landscape and market share of major players in the Medical Device 3D Printing space in Middle East and Africa?
• What are the key, high growth markets that Medical Device 3D Printing manufacturers should expand into? Which market segments are growing the fastest?
• What are the unmet needs with the Medical Device 3D Printing currently on the market? How will emerging technologies fulfil these unmet needs?
• What is physician perception and market outlook of Medical Device 3D Printing?
• What are the challenges and barriers that have hindered widespread adoption of Medical Device 3D Printing?
Medical Device 3D Printing Market: Key Players
Some of the major companies operating in the 3D printing industry with significant presence in medical equipment domain are Stratasys Ltd. 3D Systems Corporation, EnvisionTEC GmbH, Renishaw plc, EOS GmbH Electro Optical Systems, Materialise NV, 3T RPD, Ltd., Concept Laser GmbH, Arcam AB, and Prodways.
Reasons to buy Medical Device 3D Printing Market Report:
• regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
• Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
• Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
• Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
• A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
• Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
• Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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