The global 3D Printed Prosthetics Market will most likely garner a market value of USD 1.62 Billion in 2023 and is expected to accumulate a market value of USD 3.50 Billion by registering a CAGR of 8% in the forecast period 2023 to 2033.
Growth of the 3D printed prosthetics market can be attributed to the increasing emphasis of market players on manufacturing 3D printed prosthetics. The market for 3D-printed prosthetics registered a CAGR of 5% in the historical period 2018 to 2022.
3D printing technology involves manufacturing prosthetics and other medical products layer by layer. As recently recognized 3D printed prosthetics are expected to overcome the shortcomings of conventional products. Therefore, 3D-printed prosthetics sales are estimated to surge shortly.
| Report Attribute | Details |
|---|---|
| Expected Market Value (2023) | USD 1.62 Billion |
| Anticipated Forecast Value (2033) | USD 3.50 Billion |
| Projected Growth Rate (2023 to 2033) | 8% CAGR |
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According to market research and competitive intelligence provider Future Market Insights- the market for 3D printed prosthetics reflected a value of 5% during the historical period, 2017 to 2021.
The COVID-19 pandemic had considerably impacted the manufacturing, and transportation of raw materials of 3D printed prosthetics products. The supply chain was disturbed during the COVID-19 pandemic lockdown in several countries.
The market players observed a decrease in the sale of 3D printed prosthetics products. However, after the COVID-19 pandemic, the sale of 3D printed prosthetics grew as the requirement and demand for the prosthetics surged with a rise in awareness about prosthetics among consumers.
Moreover, the market witnessed high growth post-pandemic as many manufacturers reported that the importance of 3D printing increased considerably post-pandemic, due to the possibility to produce parts on demand at a shorter time span and can reduce waste as well as inventory.
Thus, the market for 3D printed prosthetics is expected to register a CAGR of 8% in the forecast period 2023 to 2033.
Rise in road accidents and injuries creating lucrative opportunities for 3D Printed Prosthetics
The increase in demand for uniquely designed prosthetic products, the rise in the incidence of road accidents and sports injuries, and the availability of 3D printed prosthetic implants for orthopedic conditions are anticipated to develop the growth of the 3D printed prosthetics market significantly.
In addition, an increase in the prevalence of diabetic-related amputation, a surge in demand for advanced prosthetics products, and an increase in the requirement for customized additive manufacturing are the other factors that drive the market growth.
Technologically Advanced Prosthetics bolstering the growth of the 3D Prosthetics Market
Increasing investment in Research and Development for developing technologically advanced prosthetics, favorable reimbursement policies, government initiatives, and inclination toward advanced innovative products further boost the market growth.
Many companies are utilizing the advantages of additive manufacturing and generative design to make a new methodology for prosthetics both in terms of functionality and form. 3D-printed prosthetics are available in materials such as polyethylene, polypropylene, acrylics, and polyurethane.
Also, the advantage of 3-D printed technology to design 3D-printed prosthetic implants as per patient anatomy has boosted the demand for 3D-printed prosthetic implants.
Additionally, the rising focus of leading manufacturers of 3D-printed prosthetic implants to collaborate with hospitals and rehabilitation centers will boost the growth of the market.
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Expensive nature and inadequate reimbursement coverage hampering the market growth
Inadequate reimbursement coverage for the treatment of accidental cases may hamper the growth of the 3D-printed prosthetic implants market.
Also, a lack of awareness among people about the advanced technologies of prosthetic implants will deter the growth of the 3D-printed prosthetic implants market. In addition, the expensive nature of 3D-printed prosthetics is restraining the growth of the market.
Demand for immediate treatment and healing spurring adoption of 3D printed prosthetics in North America
North America is expected to dominate the global market in 2023 and account for more than 40% of the global revenue share in the same year.
The factors such as an increase in the incidence of sports injuries, growing demand for quality healthcare services, the presence of several key market players in this region, and well-established healthcare infrastructure drives the growth of the market.
Moreover, favorable government initiatives to support Research and Development activities and subsidies for improving the adoption of 3D-printed prosthetics are likely to fuel the market growth in the region.
Product Innovation and Accidental Cases favoring the growth of the 3D printed prosthetics market
The Asia Pacific is projected to grow at a rapid pace during the forecast period. A rise in the number of major key players investing in research & development in this region has proved to be the main factor fueling the growth of the market.
In addition, the rise in the number of accidental cases and the presence of a large fraction of the population belonging to the middle-income group considerably surges the demand for cost-effective and innovative 3D-printed prosthetics to attract key medical device companies within the region.
Thus, Asia Pacific is expected to possess a 37% market share for the 3D printed prosthetics market in 2023.
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Waterproof 3D Printed Prosthetics easily wearable for Limb Injuries
In 2023, the limbs segment is expected to dominate the global market for 3D-printed prosthetics and account for 35% of the overall revenue share.
The segment is expected to retain its top position throughout the forecast period due to an increase in demand for 3D printed prosthetic limbs, an increase in the number of accidental injuries, technological advancements in 3D printed prosthetics, and a rise in amputation cases are the major factors that boost the growth of the market.
Moreover, market players in 3D printed prosthetics are concentrating on the development of waterproof 3D printed prosthetic limbs. The invention aims to offer the user a better range of mobility, mainly in athletics. The 3D printed prosthetic limbs offer advantages such as not causing pain to the user, being more comfortable, and being highly customizable.
Nature and Durability of Polypropylene increasing usage for 3D Printed Prosthetics
The polypropylene segment is expected to dominate the global market in 2023 and account for the largest revenue share of 33%. The segment is anticipated to witness lucrative growth over the forecast period.
Increasing demand for polypropylene material in the manufacturing of 3D printed prosthetics, low-cost manufacturing, better durability nature of polypropylene, increasing investment in R&D, and increase in preference for polypropylene across the globe are the major factors that boost the growth of the market during the forecast period.
Polypropylene provides advantages such as its light nature which allows better weight reduction than other materials and is sterilizable without losing its properties. Moreover, it offers excellent mechanical properties, making it a great material for 3D printed prosthetics manufacturing. Thus, the aforementioned factors drive the growth of the market.
The adoption of 3D printed prosthetics by small and large hospitals makes hospitals a viable option for treatment
The hospital segment is expected to account for the maximum share of 40% of the overall revenue in 2023. This is due to the rapidly increasing patient admissions, rising cases of accidents, and increasing investment in the R&D of 3D.
Moreover, the increase in the adoption of 3D printed prosthetics by small and large hospitals, and the rise in the number of hospitals, especially in well-developed countries are the major factors that boost the growth of the market.
The prosthetic clinics are expected to witness the highest growth over the forecast period as an increase in demand for 3D printed prosthetics in prosthetic clinics, the surge in the number of patients requiring cost-effective prosthetics, a rise in amputation cases, and an increase in the prevalence of chronic diseases across the globe are the factors that fuel the growth of the market.
Key players in the 3D printed prosthetics market are Swiss Prosthetics, Bain Robotics, Meticuly, Snapform, and Exoneo
The key market players are increasingly opting for strategic collaborations, product launches, geographical expansion, and partnerships through mergers & acquisitions in economically favorable and emerging regions.
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
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 1.62 Billion |
| Market Value in 2033 | USD 3.50 Billion |
| Growth Rate | CAGR of 8% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Type, Material, End Use, Region |
| Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; Middle East and Africa(MEA) |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, India, Malaysia, Singapore, Thailand, China, Japan, South Korea, Australia, New Zealand, GCC Countries, South Africa |
| Key Companies Profiled | 3D Systems Corporation; EnvisionTEC; Stratasys Ltd.; Bionicohand; YouBionic; UNYQ; Mecuris; LimbForge, Inc.; Open Bionics; Create Prosthetics; Bio3D Technologies; A.R.C Laser GmbH; Prodways Group; Prosthetics; 3T RPD Ltd.; Formlabs |
| Customization | Available Upon Request |
From 2018 to 2022, the 3D printed prosthetics market grew at a CAGR of 5%.
The global 3D printed prosthetics market is expected to grow with an 8% CAGR from 2023 to 2033.
As of 2033, the 3D printed prosthetics market is expected to reach USD 3.50 Billion
In 2023, the limbs segment is expected to dominate the global market for 3D printed prosthetics and account for 35% of the overall revenue share.
The hospital segment is expected to account for the maximum share of 40% of the overall revenue in 2023.
The polypropylene segment is expected to dominate the global market in 2023 and account for the largest revenue share of 33%.
North America is expected to dominate the global market in 2023 and account for more than 40% of the global revenue share in the same year.
Asia Pacific is expected to possess a 37% market share for the 3D printed prosthetics market in 2023.
1. Executive Summary | 3D Printed Prosthetics Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Sockets 5.2. Limbs 5.3. Joints 5.4. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material 6.1. Polyethylene 6.2. Polypropylene 6.3. Acrylics 6.4. Polyurethane 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-use 7.1. Hospitals 7.2. Rehabilitation Centers 7.3. Prosthetic Clinics 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. South Asia 8.5. East Asia 8.6. Oceania 8.7. Middle East and Africa (MEA) 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. 3D Systems Corporation 18.2. EnvisionTEC 18.3. Stratasys Ltd. 18.4. Bionicohand 18.5. YouBionic 18.6. UNYQ 18.7. Mecuris 18.8. LimbForge, Inc. 18.9. Open Bionics 18.10. Create Prosthetics 18.11. Bio3D Technologies 18.12. A.R.C. Laser GmbH 18.13. Prodways Group 18.14. Prosthetics 18.15. 3T RPD Ltd. 18.16. Formlabs 19. Assumptions & Acronyms Used 20. Research Methodology
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3D Printed Prosthetics Market
