The global medical device additive manufacturing market is expected to reach US$ 4,440. 5 million by 2027 from US$ 1,350. 4 million in 2019; it is estimated to grow at a CAGR of 16. 2% from 2020 to 2027.
New York, Sept. 15, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Medical Device Additive Manufacturing Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Technology ; By Product ; and By Application, and Geography" - https://www.reportlinker.com/p05967894/?utm_source=GNW
The increasing demand for additive manufacturing in healthcare and rising cases of musculoskeletal and dental diseases are among the factor fueling the growth of the global market. However, the exorbitant costs of automated medical device additive manufacturing hinder the growth of the market.
Musculoskeletal conditions affect the human locomotor system, comprising the muscles, bones, joints, tendons, and ligaments.These conditions range from the sudden and acute ones, such as fractures, sprains, and strains, to chronic ones associated with disability and ongoing pain.
According to the World Health Organization (WHO), the prevalence and impact of musculoskeletal conditions is likely to rise with the aging world population as well as with the increase in prevalence of risk factors of non-communicable diseases (NCDs).According to the 2018 factsheet by the WHO, musculoskeletal conditions are the second-largest contributors to overall disabilities registered worldwide, with lower back pain being the single leading cause of disability globally.
Moreover, according to the 2016 study report of the Global Burden of Diseases (GBD), musculoskeletal diseases (MSDs) were reported to be second-largest contributor to disability-associated burden on health systems.Additionally, the WHO also reports that 20-33% of people around the globe live with at least one painful musculoskeletal condition.
These diseases are among the most common causes of severe and long-term pain as well as physical disability in the US. According to the American Society of Orthopedic Surgeons (ASOS), in 2016, a musculoskeletal condition affected ~126.6 million Americans.
Based on technology, the medical device additive manufacturing market is segmented into laser sintering, stereolithography, electron beam melting, and extrusion.In 2019, the laser-sintering segment accounted for the largest share of the market.
The market growth of this segment is attributed to the fact that there is no need to provide support structures for fragile and thin parts of devices, unlike the devices produced with the use of stereolithography. Further, high precision in geometries achieved by laser sintering is not possible with any other technology, which would contributes dominance of this segment in the market in the coming years.
The COVID-19 outbreak was first reported in December 2019 in Wuhan (China), and with its spread to ~100 countries across the world, the World Health Organization (WHO) termed it a pandemic with public health emergency.In North America, the US has been profoundly affected by the outbreak.
For instance, California-based Airwolf3D Company has proposed its fleet of 3D printers for the manufacturing of respirator valves and custom medical components.The company is also contributing remote technical support for medical staff that would be willing to know more about 3D printing.
The use of 3D printing and additive manufacturing for the development of medical supplies and instruments in emergency is likely to be a prime opportunity for the market players.
The Centers for Disease Control and Prevention (CDC), World Health Organization (WHO), European Union, Organization for Economic Co-operation and Development, American Society of Orthopedic Surgeons, and National Institutes of Healthcare (NIH) are a few of the essential secondary sources referred to while preparing this report.
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