The 3D printed hip and knee implants market is projected to secure a bearish CAGR of 7.1% during the forecast period and attain a value of USD 7,212.1 million by 2033. The current valuation of the market stands at USD 3,621.0 million in 2023.
Demand for 3D printing hip and knee implants is rising as it creates physical objects out of digital 3D blueprints in the market. It was mainly used for rapid prototyping in the late 1980s. However, it has become a next-generation technology that produces localized, on-demand final products, increasing the 3D printed hip and knee implants market share.
3D printing is possible with a range of thermoplastics, metal alloys & ceramics, which are anticipated to increase the adoption of 3D printed hip and knee implants. It has seen an application in diverse areas like aerospace, retail, and supply chain optimization, & the medical industry is likely to upsurge the 3D printed hip and knee implants market growth.
The 3D printed hip & knee implants market share is likely to improve dramatically with the effectiveness of surgery along with reducing the time taken to recover.
It uses CAT scans to create a 3D blueprint of the damaged hip or knee joint to be replaced. Surgeons then use this to practice the operation on a computer, deciding beforehand where to make incisions or how to realign the bone.
These factors have led to an increase in the sales of 3D printed hip & knee implants in recent years. 3D printing helps to make replacement surgery much safer & quicker and, in the long run, raises the adoption of 3D printed hip & knee implants.
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Increasing Pool of Geriatric Patients:
An aging population in developed countries & China is expected to be the key driver of the 3D printed hip & knee implant market size. Millions of people worldwide have to undergo either hip or knee replacement surgery every year.
Consumer Awareness:
The 3D-printed hip and knee implants are likely to get an uptick in their sales as awareness on how they improve mobility and quality of life is attracting the attention of patients.
Patient Preference:
3D printing is a minimally invasive procedure preferred and therefore it is preferred by patients for the 3D printing of hip and knee implants.
3D Printed Advantages:
Surgeons rehearse the operation with the help of 3D models beforehand, which allows them to make smaller incisions, reduce blood loss & ensure an easier recovery. The 3D printed hip & knee implant market helps to reduce costs & inefficiencies as these parts are exactly fit for an individual patient.
| Attributes | Details |
|---|---|
| 3D Printed Hip and Knee Implants Market CAGR (2023 to 2033) | 7.1% |
| 3D Printed Hip and Knee Implants Market Size (2023) | USD 3,621.0 million |
| 3D Printed Hip and Knee Implants Market Size (2033) | USD 7,212.1 million |
Deterrents in the 3D Printed Hip And Knee Implants Industry
| Countries | Market Share (2022) |
|---|---|
| United States | 19.2% |
| Germany | 10.4% |
| Japan | 5.4% |
| Australia | 3.5% |
Based on regions, the 3D printed hip and knee implants are segmented into North America, Europe, Asia Pacific, Latin America, and MEA. North America dominated the market share, acquiring 30.4% in 2022.
| Attribute | Details |
|---|---|
| A large number of manufacturers | In the United States, half of the joint replacements are likely to take place all around the globe due to large numbers of 3D printed hip and knee implant manufacturers. |
| Increase in production | Production is rapidly growing in the North American region due to its infrastructure, which is likely to increase the sales of 3D printed hip and knee implants. |
Europe is likely to acquire the second position in the 3D printed hip and knee implants industry share. The region expanded with a share of 25.6% in 2022.
| Attribute | Details |
|---|---|
| Favorable Government Policies | Greater government pressure to manufacture indigenously is encouraging companies to enter the domestic 3D printed hip & knee implants market. |
| Medical Use | The Europe region is anticipated to raise the 3D printed hip and knee implants for medical use for procedures. |
How Key Start-Ups Accomplishing 3D Printed Hip and Knee Implants Industry?
The start-up companies are bringing various initiatives to present their unique ideas in the 3D printed hip and knee implants industry during the forecast period. Start-up manufacturing companies are raising their production as per end-users’ demands, which fulfill their need accordingly without any burden. They are using innovative and advanced technologies to raise the market size in recent years.
New Technologies:
Some of the new technology 3D printed hip and knee implants provide are 3D printed drill guides, accurate bone & implant trial models, 3D analysis and implant design.
Deals with Start-up:
The BICO company along with MedTech start-up are going to develop its new 3D printed regenerative joint implants in the coming years.
Key Players in the3D Printed Hip and Knee Implants
The 3D-printed hip and knee implants market is fragmented by prominent players present all around the globe. They are executing various marketing policies and methods to bring the 3D printed hip and knee implants sector size up-ward during the forecast period.
Some of the strategies adopted by key players are acquisitions, partnerships, mergers, product launches and others to expand the 3D printed hip and knee implants sector.
Top Recent Developments:
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The market is valued at USD 3,621.0 million in 2023.
Medtronic, DePuy, and 3D Systems are the leading market players.
The market is forecast to register a CAGR of 7.1% through 2033.
North America generated 30.4% revenue in 2022.
The aging population is encouraging market growth.
| Market Value (2023) | USD 95,374.8 million |
|---|---|
| Market Value (2033) | USD 161,882.6 million |
| Market Growth Rate (2023 to 2033) | 5.4% |
| Market Size (2022) | USD 9,552.0 Million |
|---|---|
| Market Size (2032) | USD 40,877.0 Million |
| Market CAGR (2022 to 2032) | 15.6% |
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3D Printed Hip And Knee Implants Market
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