The global 3D Printed Prosthetics Market demand is expected to grow at an 8% CAGR from 2023 to 2033, according to Future Market Insights. The global market for 3D Printed Prosthetics is expected to reach US$ 3.5 billion by 2033. The key factor driving market expansion is that the manufacturing costs of such medical devices are being reduced through the use of additive manufacturing, making them more affordable to the general population. Because orthotics and prosthetics are made of plastic and must be customized for each patient, they are ideal candidates for 3D printing technology.
According to the World Health Organisation, approximately 30 million people globally require prosthetics, and 3D printing technology can help increase availability for individuals, particularly in rural locations, at a lower cost. These benefits, along with increased patient comfort and ease of customization, are expected to fuel market growth. Because of developments in body modelling and 3D scanning technology from companies like Body Labs, individuals will be able to 3D scan their limbs and have prosthetics shaped after them, allowing for a more natural fitting and aesthetic.
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COVID-19’s introduction had an impact on the additive manufacturing sector, as the pandemic created supply chain bottlenecks and manufacturing closures, particularly in the first three quarters of 2020. The 3D printing market, on the other hand, saw a huge surge in the aftermath of the pandemic since it is a disruptive technology that has emerged as a viable solution to medical device supply constraints. Furthermore, the market’s top players reported a sales growth in 2021, showing that the market has recovered from the impact of COVID-19 and is likely to grow fast in the future.
Key Takeaways from the Market Study
- The limbs category is expected to account for 35% of total revenue in the worldwide 3D Printed Prosthetics market.
- The hospitals category is expected to account for up to 40% of overall revenue in 2023 in terms of end use.
- Polypropylene, by material, is expected to dominate the global market in 2023, accounting for 33% of total revenue.
- In 2023, North America is expected to dominate the global market, accounting for more than 40% of global revenue.
- Asia Pacific is expected to account for 37% of the market for 3D printed prostheses by 2023.
“Increasing cases of accidental and sports injures is the key factor driving the growth of the 3D Printed Prosthetics market. In addition, technological advancement too is spurring the adoption of 3D Printed Prosthetics,” comments a Future Market Insights analyst.
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Competitive Landscape
Some of the players in the global 3D Printed Prosthetics market include 3D Systems Corporation, EnvisionTEC, Stratasys Ltd., Bionicohand, YouBionic, UNYQ, Mecuris, LimbForge, Inc., Open Bionics, Create Prosthetics, Bio3D Technologies, Laser GmbH, Prodways Group, Protosthetics, 3T RPD Ltd, Formlabs
- YouBionic, a key player in the 3D Printed Prosthetics is focusing on making their 3D printed prosthetic hand durable, flexible and more movable. Thus, the company is integrating artificial intelligence to increase its usability.
- Prodways Group, another key player in the 3D Printed Prosthetics market offers a technologically advanced arm for patients of all age groups. The company is focusing on offering the same to a wider consumer base by penetrating into different geographical locations.
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global 3D Printed Prosthetics market, presenting historical analysis from 2018 to 2022 and forecast statistics for the period of 2023 to 2033.
Key Segments Profiled in the 3D Printed Prosthetics Industry Survey
Type:
- Sockets
- Limbs
- Joints
- Others
Material:
- Polyethylene
- Polypropylene
- Acrylics
- Polyurethane
End-use:
- Hospitals
- Rehabilitation Centers
- Prosthetic Clinics
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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