Major players in the 3D printed medical prosthetics market are 3D Systems Corporation, Stratasys Ltd., Envision TEC, Bionicohand, and You Bionic.
The global
3D printed medical prosthetics market is expected decline from USD 0.07
billion in 2019 and to USD 0.64 billion in 2020 at a compound annual growth
rate (CAGR) of -8.26%. The decline is mainly due to economic slowdown across
countries owing to the COVID-19 outbreak and the measures to contain it. The
market is then expected to recover and reach USD 0.095 billion in 2023 at CAGR
of 13.81%.
The 3D printed medical prosthetics market consist of sales of 3D
printed medical prosthetics devices and related services. 3D printing
technology is used to create an artificial three dimensions physical object
with the help of computer-aided design, and these prosthetics are intended to
help patients with missing or defective body parts to restore normal functions.
Companies in the 3D printing prosthetics market are focusing on development of waterproof prosthetic devices. The aim behind this innovation is to provide the user with an increased range of mobility, especially in athletics. In April 2017, north well Healthcare announced a product called "FIN" which is a 3D-printed prosthetic leg attachment to give amputee swimmers the ability to navigate from land to the water and back. Similarly, in 2015, Standard Cyborg, a California-based company, developed a 3D printed waterproof leg prostheses. These devices allows the amputees to move between land and water easily, thus broadening the range of activities amputees can perform without damage to prosthetics.
The 3D printed medical prosthetics market covered in this report is
segmented by material into polypropylene, polyethylene, acrylics, polyurethane.
It is also segmented by type into sockets, limbs, joints, covers, others and by
end-user into hospitals, rehabilitation centers, prosthetic clinics.
The delay in elective procedures
attributing to the coronavirus outbreak is to act as a major factor to limit
the growth of the 3D printed medical prosthetics market. Many countries and
hospitals have diverted their healthcare resources to deal with COVID-19
patients. For instance, according to the Centers for Medicare & Medicaid
Services (CMS) safety guidelines released in March 2020, all the elective and
non-essential surgical, dental, and medical procedures are delayed in the USA
during 2019 Novel Coronavirus (COVID-19) outbreak. Hence, the delays in
surgical or elective procedures are projected to decline the demand for 3D
printed medical prosthetics market in the near future.
The rising number of accidental
injuries is driving the growth of the 3D printing prosthetic devices market.
Accidental injuries can cause serious damage to a person, and these injuries
can sometimes lead to amputation. In 2016, motor vehicle crashes in the US
resulted in the death of 32,719 and injuries in over 2.3 million people.
According to a report from National Centre for Health Statistics, in 2018,
approximately 50,000 new amputation cases come up each year in the US. Increase
in incidences of other medical conditions such as diabetes and vascular
diseases is also leading to a rise in amputation cases, thus boosting the sales
of 3D printing prosthetics. For instance, according to a report published in
the American Journal of Managed Care, it was estimated that, globally, one
patient leg is amputated in every 30 seconds and around 85% of these
amputations were result of a diabetic foot ulcer.
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Global
3D Printed Medical Prosthetics Market
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Ken Research
Ankur Gupta, Head Marketing & Communications
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