3D Printed Prosthetics Global Market Report 2021: COVID 19 Growth And Change to 2030

3D Printed Prosthetics Global Market Report 2021: COVID 19 Growth And Change to 2030

  • May 2021 •
  • 175 pages •
  • Report ID: 6070189 •
  • Format: PDF
Major players in the 3d printed prosthetics market are 3D Systems Corporation, Stratasys Ltd., EnvisionTEC, Bionicohand and YouBionic.

The global 3d printed prosthetics market is expected grow from $0.06 billion in 2020 to $0.07 billion in 2021 at a compound annual growth rate (CAGR) of 16.7%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $0.12 billion in 2025 at a CAGR of 14%.

The 3D printed medical prosthetics market consist of sales of 3D printed medical prosthetics devices and related services. 3D printing technology is used to create an artificial three dimensions’ physical object with the help of computer-aided design, and these prosthetics are intended to help patients with missing or defective body parts to restore normal functions.

The rising number of accidental injuries is driving the growth of the 3D printing prosthetic devices market.Accidental injuries can cause serious damage to a person, and these injuries can sometimes lead to amputation.

In 2019, car crashes in the US resulted in the death of 38,800 people.According to a report from National Centre for Health Statistics, approximately 50,000 new amputation cases come up each year in the US.

Increase in incidences of other medical conditions such as diabetes and vascular diseases is also leading to a rise in amputation cases, thus boosting the sales of 3D printing prosthetics. For instance, according to a report published in the American Journal of Managed Care, it was estimated that, globally, one patient leg is amputated in every 30 seconds and around 85% of these amputations were result of a diabetic foot ulcer.

The 3D printed medical prosthetics market covered in this report is segmented by material into polypropylene, polyethylene, acrylics, polyurethane. It is also segmented by type into sockets, limbs, joints, covers, others and by end-user into hospitals, rehabilitation centers, prosthetic clinics.

The delay in elective procedures attributing to the coronavirus outbreak is to act as a major factor to limit the growth of the 3D printed medical prosthetics market.Many countries and hospitals have diverted their healthcare resources to deal with COVID-19 patients.

For instance, according to the Centers for Medicare & Medicaid Services (CMS) safety guidelines released in March 2020, all the elective and non-essential surgical, dental, and medical procedures are delayed in the USA during 2019 Novel Coronavirus (COVID-19) outbreak. Hence, the delays in surgical or elective procedures are projected to decline the demand for 3D printed medical prosthetics market in the near future.

Companies in the 3D printing prosthetics market are focusing on development of waterproof prosthetic devices.The aim behind this innovation is to provide the user with an increased range of mobility, especially in athletics.

In October 2020, Braskem, Americas leading producer of biopolymers has launched Braskem e-NABLE Chapter for Philanthropic Creation of 3D Printed Prosthetic Devices. Braskem was selected to be certified to produce the e-NABLE Phoenix V3 prosthetic hand as it is one of the most commonly produced e-NABLE prosthetic devices.