3D Printed Prosthetics Market Size Is Going To Boom

Jan 19, 2024

Global 3D Printed Prosthetics Market is valued at approximately USD 1.3 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 7.7% over the forecast period 2022-2029. 3D printed prosthetics are the usage of additive manufacturing technologies instead of traditional subtractive manufacturing methods for producing artificial body parts.

3D scanning and printing are implemented in a variety of medical applications, including creating prosthetic implants. The market growth is primarily driven by the factors such as the increasing number of accidental injuries and trauma cases, the rising introduction of 3D-printed prosthetic implants for orthopedic applications, coupled with the growing need for customized additive manufacturing. The increasing expenditure on healthcare products and services is exhibiting a positive influence on the growth of the market. According to Statista, in 2019, the healthcare expenditure in Brazil was recorded at USD 182.38 billion and it is anticipated that the amount increases and reach USD 212.59 billion by the year 2028. Likewise, as per CMS.gov, in the United States, the national healthcare expenditure grew 9.7% to USD 4.1 trillion or USD 12,530 per person in 2020, which accounted for 19.7% of the Gross Domestic Product (GDP).

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Also, it is anticipated that the National health spending is likely to increase at an average annual rate of 5.4 percent for 2019-28 and is estimated to reach USD 6.2 trillion by 2028. Therefore, these aforementioned factors are acting as catalyzing factors for market growth globally. Moreover, the rising introduction of innovative products, as well as the growing investment in R&D of 3d printing are presenting various lucrative opportunities over the forecasting years. However, the stringent regulatory policies and lack of awareness among people about the advanced technologies of prosthetic implants are challenging the market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global 3D Printed Prosthetics Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the surging demand for quality healthcare services, favorable government initiatives, and the rising incidence of sports injuries. Whereas, the Asia Pacific is also expected to grow with the highest CAGR during the forecast period, owing to factors such as rising investment in research & development, increasing number of accidental cases, and the presence of a large fraction of the population in the market space.

Major market players included in this report are:

3D Systems Corporation

EnvisionTEC

Stratasys Ltd.

Bionicohand

LimbForge, Inc.

Create Prosthetics

Bio3D Technologies

Laser GmbH

Prodways Group

3T RPD Ltd.

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Recent Developments in the Market:

In 2022, Protosthetics- a 3D printed prosthetic manufacturer unveiled that the company launched its novel in-house 3D printing program. The product is specially designed for orthotics and prosthetics (O&P) practices.Global 3D Printed Prosthetics Market Report Scope:

Historical Data: 2019-2020-2021

Base Year for Estimation: 2021

Forecast period: 2022-2029

Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends

Segments Covered: Type, Material, End-use, Region

Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World

Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:

Sockets

Limbs

Joints

Others

By Material:

Polyethylene

Polypropylene

Acrylics

Polyurethane

By End-use:

Hospitals

Rehabilitation Centers

Prosthetic Clinics

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

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Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

RoLA

Rest of the World

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