The 3D printed hip and knee implants market is anticipated to reach a value of US$ 7,212.1 million by 2033, with a negative CAGR of 7.1% over the forecast period. In 2023, the market is currently valued at US$ 3,621.0 million.
Because 3D printing makes tangible products from digital 3D plans, there is an increasing need for hip and knee implants. In the late 1980s, rapid prototyping was its primary application. Nevertheless, it has developed into a next-generation technology that increases the market share of 3D printed hip and knee implants by producing final goods that are customized and made on demand.
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A variety of thermoplastics, metal alloys, and ceramics may be printed in three dimensions, which is expected to boost the use of three-dimensional printed hip and knee implants. It has been used in a variety of industries, including supply chain optimization, retail, and aerospace. The medical sector is also anticipated to drive the growth of the 3D printed hip and knee implants market.
3D Printing Revolutionizes Joint Replacement: From Prototyping to Personalized Implants:
Leading the way in medical innovation is the market for 3D printed hip and knee implants. 3D printing technology was first developed for rapid prototyping, but it is now utilized to produce personalized, on-demand implants. Each patient’s specific anatomical needs are met by this change.
Greater Adoption Is Made Possible by Material Versatility:
The sector has enormous potential due to the ability to 3D print using a variety of materials, including metal alloys, ceramics, and thermoplastics. With a greater selection of solutions to suit the unique needs of every surgery, these materials give surgeons more possibilities.
Key Takeaways:
- The global 3D printed hip & knee implants market is projected to reach US$7,212.1 million by 2033, reflecting a significant rise from US$3,621.0 million in 2023.
- While the projected CAGR of 7.1% indicates a promising growth trajectory, it’s categorized as “bearish” compared to higher growth rates.
- This growth is driven by advancements in 3D printing technology and its potential to revolutionize joint replacement surgery.
Competitive Landscape:
Key Players in the3D Printed Hip and Knee Implants:
Prominent global firms have a fragmented market for 3D-printed hip and knee implants. Throughout the projection period, they are implementing a number of marketing strategies and tactics to increase the size of the 3D printed hip and knee implants market.
Acquisitions, alliances, mergers, product launches, and other tactics are some of the tactics used by major competitors to grow the market for 3D printed hip and knee implants.
Top Recent Developments:
- Nanochon purchased about $1.5 million of products from the BICO’s bio automation services to develop its new innovative joint implants which are likely to reduce the cost and provide better recoveries.
- BICO deals with Nanochaon’s seed funding to carry out advanced medical techniques, increase production and speed up the clinical trials in coming years.
- Wright Medical Group N.V. purchased by Stryker for an undisclosed sum in 2020. This purchase strengthens Stryker’s presence in the worldwide trauma and extremities markets, providing essential chances to drive innovation and serve more patients. The United States-based business Wright Medical Group N.V. manufactures medical devices with a focus on biologics and the extremities.
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Key Players:
- Medtronic
- DePuy
- 3D Systems
- Embody Orthopaedics
- Smith & Nephew
Key Segments:
By Implant:
- Total Hip Replacement Implant
- Partial Hip Replacement Implant
- Revision Hip Replacement Implant
- Hip Resurfacing Implant
By Material:
- Metal on Polyethylene
- Metal on Metal
- Ceramic on Metal
- Others
By End-User:
- Hospitals
- Orthopedics Clinics
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
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