3D Printed Surgical Models Market is Predicted to Witness 15.6% CAGR till 2028

The global 3D printed surgical models market size was valued at USD 282.5 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 15.6% from 2021 to 2028.

The global 3D Printed Surgical Models Market size is expected to reach USD 1.1 billion by 2028 according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 15.6% from 2021 to 2028. This growth can be attributed to the increasing prevalence of chronic disorders, the rising number of surgical procedures, and the growing need for customized healthcare products. Moreover, the growing use of 3D printing in the healthcare industry is also anticipated to positively impact the market.

The COVID-19 pandemic and the subsequent economic slowdown severely impacted the market. This can be attributed to delays in elective and/or non-emergency surgeries resulting in reduced demand for products and services Furthermore, the shutdown of market players’ vendors and customers coupled with reduced client investments also contributed towards a decline in market players’ revenue. Nonetheless, Materialise medical segment reported a nearly 3.7% increase in its Q1 2021 revenue when compared to the same period in 2020, thereby indicating market recovery from the impact of COVID-19 in the next few years.

According to a report by SME, in 2017, anatomical models accounted for nearly 47% of medical 3D printing in terms of application, making it the second most frequently used application field while surgical instruments and cutting guides accounted for nearly 39% of application scope. Thus, indicating a high demand for 3D printed surgical models in the medical industry.

Related Press Release@ 3D Printed Surgical Models Market Report

3D Printed Surgical Models Market Report Highlights

• The orthopedic surgery segment held a market share of more than 30% in 2020 owing to a high prevalence of orthopedic disorders such as arthritis coupled with a growing geriatric population across the globe
• The Fused Deposition Modeling (FDM) segment accounted for the largest market share of nearly 27.0% in 2020 due to high usage of FDM technology in the industry
• The plastics segment accounted for the largest revenue share of 2020 and is anticipated to witness a CAGR of 15.7% over the forecast period due to high demand for advanced thermoplastic in the market
• North America dominated the market and accounted for the largest revenue share of over 34.0% in 2020 owing to the presence of favorable reimbursement policies and a high adoption rate for advanced medical technologies