The 3D printing medical device software market is anticipated to reach USD 657.08 million by 2027 at a CAGR of 17.62% during the forecast period.
3D printing medical device software solutions help design medical devices using additive manufacturing. Three-dimensional medical devices are developed using a few layers of essential raw materials. Medical devices are developed from a digital 3-D file like Computer-Aided Design (CAD) or Magnetic Resonance Image (MRI). 3D printing technology is flexible and enables the designers to alter any aspect without requiring additional tools. The 3D printing medical devices software carries out multiple tasks including printing, analyzing, designing, planning, simulation, as well as visualization and is therefore, witnessing a huge demand in the global healthcare sector.
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A significant growth rendering factor in the 3D printing medical device software market can be the surging number of applications such as drug delivery, transplantation, 3D printed organs and many more in the healthcare industry. Heightened demand for efficient implant customizations to be used during surgical procedures along with the rising R&D investments could be favourable for the 3D printing medical devices software market in the forthcoming years. The expanding application combined with the reasonable pricing of 3D printers could further spur the market demand in the ensuing years.
Technological innovations are the key trends in the market, resulting in emergence of new and improved 3D-printed medical products that have fostered the demand in healthcare. Also, the surge in exhaustive research and development activities have given way to effective treatments for several diseases, which in turn contribute to the demand for 3D printed medical devices software. Escalating incidences of orthopaedic and dental diseases and the provision of easy creation of customized medical devices using 3D printing will also help enhance the market size in the next several years.
Ongoing technological advancements in software solutions are driving the growth of the3D printing medical device software market. For a very long time, the 3D printing industry focused on the development of hardware and materials. The recent trend involves a considerable development of software solutions used in the 3D printing of medical devices. The interoperability of software solutions has greatly benefited the 3D printing industry. It has reduced the number of steps, tools, and efforts needed to design a model for printing. Technical advancements have paved the way for the development of innovative 3D-printed products to cater to the growing demand for 3D-printed medical devices in the healthcare industry. As conventional manufacturing processes are time-consuming, key players in the market are focusing on the development of novel products.
3D printing software is used to create a computer-aided design with the help of a scanner, modeling software, and digital camera. The design created using the software can be adjusted and modified before printing. Software used in 3D printing medical devices performs several functions like printing, analysis, visualization, planning, and design. The medical industry accounts for 13% of the share of the revenue of the overall 3D printing industry. Additives manufacturing is used in various healthcare applications ranging from prosthetics to surgical guides to dental to physical therapy. 3D printing software offers flexibility and allows medical professionals to create patient-centric devices at a reasonable cost. Factors such as technological advancements in software solutions, a rise in demand for low-cost 3D printed medical devices and increasing demand for customized medical devices are driving the growth of the market.
The global 3D printing medical device software market, based on type, is segmented into type, function, application, and end user. On the basis of type, the 3D printing medical device software market has been sub-segmented into integrated and standalone. On the basis of function, the 3D printing medical devices software market has been segmented into printing, analysis, visualization, planning, design, navigation, and others. On the basis of application, the 3D printing medical device software market is segmented into medical imaging, dental, surgery, research, physical therapy, aesthetic medicine, and others. Based on end user, the global 3D printing medical devices software market is segmented into medical device companies, dental laboratories, research institutes, hospitals & clinics, and others.
The global 3D printing medical devices software market has been segmented on the basis of region into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas 3D printing medical devices software market has been segmented into North America and Latin America, with the North America market further divided into the US and Canada. The European 3D printing medical devices software market has been segmented into Western Europe and Eastern Europe. The Western Europe 3D printing medical devices software market has further been classified into Germany, the UK, France, Italy, Spain, and the Rest of Western Europe. The 3D printing medical devices software market in Asia-Pacific has been segmented into China, Japan, India, South Korea, Australia, and the Rest of Asia-Pacific. The Middle East & Africa 3D printing medical devices software market has been divided into the Middle East and Africa.
In 2019, the Americas led the 3D printing medical devices software market with a share of 42.16%, and this trend is expected to continue throughout the forecast period. This is due to the introduction of innovative technologies and their rapid acceptance, as well as the presence of key companies in the region. Moreover, increased research funding from private and public organizations is fueling the market growth in the region.
Asia-Pacific is anticipated to register the highest growth rate over the forecast period from 2020 to 2027. Global players are focused on collaboration and opening new offices in the region owing to the availability of talent. For instance, Materialise, a leading US-based 3D printing medical devices software has officially opened a new office in China with a focus on carrying out R&D on 3D printing software. Furthermore, India and China have a number of startups such as think3D and Osteo3d working on the 3D printing medical devices software. These startups are offering services across the world, driving the growth of this region.
Key Findings of the Study
The global 3D printing medical device software marketwas valued at USD 657.08millionand is expected to register a CAGR of17.62% during the assessment period.
The Americas accounted for the largest share of the global market is majorly attributed to the introduction & rapid adoption of advanced technologies and the presence of key players in this region.
Based on the type, the integrated segment accounted for the largest market share of 75.5% in 2019.
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Based on the function, theprinting segment dominated the market with a value of 28.64% in 2019.
Based on the application, the medical imaging segment dominated the market with a value of 32.68% in 2019.
Based on the end user, the medical device companiessegment dominated the market with a value of 37.6% in 2019.
Some of the key players operating in the 3D printing medical device software market are Stratasys Ltd, Nemotec, PS-Medtech, DWS Systems, 3D Systems Corporation, Carima, Real Dimension Inc, Regenhu, 3D Totem, Ackuretta Technologies, and Materialise NV.
MRFR recognizes the following companies as the key players in the global 3D printing medical device software market— Stratasys Ltd(Israel), Nemotec (Italy), PS-Medtech (Netherlands), DWS Systems (Italy), 3D Systems Corporation (US), Carima (South Korea), Real Dimension Inc (US), Regenhu (Switzerland), 3D Totem (Israel), Ackuretta Technologies (China), and Materialise NV (Belgium).
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