Global 3D Printed Medical Implants Market: Snapshot
Additive manufacturing, more popularly known as three-dimensional (3D) printing, is fast growing in potential in the health care industry. They are in particular harnessing the profound potential of patient-specific 3D-printed implants as a solution for range of hard-to-treat diseases. Examples are traumatic brain injuries and complicated spinal injuries where patient customization is difficult to achieve. Growing use cases of metal 3D printed medical implants to repair bone and cartilage defects has been growing hindered. The drive for the 3D printed medical implants market stems from this factor. The most significant proposition is perhaps the fact that 3D printed medical implants are patient specific.
With each passing day, techniques of printing these artificial implants incorporate new biomaterials, thereby advancing the scope of 3D printed medical implants in the health care market. Over the past few years, the market has seen the increasingly regulatory approval of 3D printed medical implants and their adoption in surgery. Apart from this, the contours of the market are constantly being reshaped by price considerations, practicable applications of 3D printing, and proclivity of medical practioners to expand the potential of the entire process.
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Global 3D Printed Medical Implants Market: Growth Dynamics
In recent years, the sales of craniomaxillofacial and dental implants have grown in numerous countries of developed regions. Growing demand for a range of patient-specific implants is boosting the 3D printed medical implants market. Researchers have been leveraging computer-aided design software to come out with new types of patient-specific artificial medical implants. The demand for safer and effective patient-specific treatments with 3D implants in the 3D printed medical implants market is the result of concerted efforts by physicians, manufacturers, and surgeons. Growing use of 3D printed medical implants in orthopedics is a key trend boosting the market. The advent of innovative design of implants help in reducing their stiffness and drive bone cell growth. Further, new opportunities have emerged on the back of user-friendly software.
Technological progress in the 3D printed medical implants market hinges increasingly on how well stakeholders navigate logistical and regulatory hurdles. Since the healthcare application of 3D printing is relatively recent, regulatory framework wields a marked impact on the evolution of the market. Further, these hurdles may impede fast commercialization of 3D printed medical implant in hospital settings.
Global 3D Printed Medical Implants Market: Notable Developments
Eyeing the unparalleled potential of 3D printed medical implants, biotechnology companies, startups as well as established ones, have been entering into partnerships and agreements with universities to leverage the technology. This has augmented the potential of the 3D printed medical implants market. Their efforts to do so has gathered strength from the considerable medical burden that comes with certain conditions such as traumatic injuries.
Qrons Inc., a biotech company based in New York, has entered an Intellectual Property (IP) License Agreement with Dartmouth College, a private university in Hanover, New Hampshire. The agreement will enable the company to unveil 3D printed medical implants for traumatic brain injuries (TBI). The start-up has been intensely focusing on finding out novel solutions to penetrating brain injuries.
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Various pioneers in 3D printing pinning large hopes on the potential of 3D printed medical implants are geared toward using their propriety technologies to unveil new implants. A case in point is proprietary 3D-printing platform used by Osseus Fusion Systems, a company based in Texas. The company bagged its clearance from the FDA in 2018 under 510(k).
Global 3D Printed Medical Implants Market: Regional Assessment
On the regional front, North America and Europe have been fast expanding regions in the 3D printed medical implants market. The healthcare industries in these regions have been early adopters. In North America, implant makers in the U.S. and Canada are relentless working to unveil promising products to consolidate their footprints in the global 3D printed medical implants market. Growing numbers of implant manufacturers have forked out large sums to leverage the technology. On the other hand, Asia Pacific is showing vast potential. Strides made in 3D printing technologies are bolstering the regional prospects.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.