Belgium 3D Printing Medical Devices Market Analysis

Belgium 3D Printing Medical Devices Market Analysis


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Belgium 3D Printing Medical Device Market is expected to witness growth from $7 Mn in 2022 to $22 Mn in 2030 with a CAGR of 16.30% for the forecasted year 2022-2030. Because of the rising demand for personalised medical devices, advancements in 3D printing technology, rising healthcare costs, an increase in the number of 3D printing businesses, and government support, the market for 3D printed medical devices in Belgium is anticipated to expand in the upcoming years. The market is segmented by application, by technology and by end user. Some key players in this market include: CERHUM, Spentys, Stryker, Stratasys, GE Additive, Prodways Group and Siemens Healthineers.

ID: IN10BEMD002 CATEGORY: Medical Devices GEOGRAPHY: Belgium AUTHOR: Jigyasu Bhandari

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Belgium 3D Printing Medical Devices Market Executive Summary

The Belgium 3D Printing Medical Devices Market size is at around $7 Mn in 2022 and is projected to reach $22 Mn in 2030, exhibiting a CAGR of 16.30% during the forecast period. Belgium spent 0.3% of GDP on state healthcare administration and insurance in 2015. As a percentage of GDP, Belgium's overall health spending has increased steadily over time, from 10.5% in 2015 to 12.5% in 2020. The total budget is higher than the EU norm. Over the past 10 years, public (total) spending has increased gradually and has usually kept pace with levels in the European Union (EU).

In Belgium, Patients are getting personalised prosthetics due to 3D printing technology. These prosthetics have the potential to enhance patient outcomes and be more comfortable and practical than conventional prosthetics. Spinal implants and tooth implants can now be made specifically for each patient thanks to 3D printing technology. These devices can help patients heal more quickly and lower their risk of complications. The accuracy and effectiveness of surgical operations can be increased by using customised surgical tools made possible by 3D printing, such as guides and jigs. Anatomical models that can be used for surgery planning and training are being produced using 3D printing technology. Producing medical devices can be more affordable due to 3D printing, which does away with the need for expensive moulds and tooling. Patients and healthcare systems may pay less for healthcare as a result of this expense reduction. By cutting the time it takes to produce and transport medical devices, 3D printing can improve the efficiency of healthcare delivery. In addition to reducing treatment wait periods, this can enhance patient outcomes. By lowering the need for numerous surgeries or modifications to medical equipment, 3D printing technology can enhance the patient experience. The quality of life and patient happiness may increase as a result.

Belgium 3D Printing Medical Device Market Analysis

 

Market Dynamics

Market Growth Drivers Analysis

Because of the rising demand for personalised medical devices, advancements in 3D printing technology, rising healthcare costs, an increase in the number of 3D printing businesses, and government support, the market for 3D printed medical devices in Belgium is anticipated to expand in the upcoming years. By making research and development investments, growing their product lines, and forming alliances with healthcare providers, manufacturers in the 3D printing medical devices market can benefit from these growth factors. The quantity of 3D printing businesses in Belgium is increasing, and these businesses are spending money on R&D to advance the technology and broaden its uses. This is anticipated to fuel market expansion for 3D-printed medical equipment. 

Market Restraints

The Belgium market for 3D printed medical devices has a sizable growth potential, but manufacturers may encounter a number of market barriers, such as regulatory obstacles, barriers to technology access, problems with quality control, issues with intellectual property, and reimbursement restrictions.

Competitive Landscape

Key Players

  • CERHUM (BE)
  • Spentys (BE)
  • Stratasys
  • Siemens Healthineers
  • GE Additive
  • Stryker
  • Prodways Group

Notable Recent Deals

2021: For challenging cranio-maxillofacial surgeries, 3D-Side and Maquet, a provider of medical technology, announced a collaboration in 2021 to create patient-specific implants.

Healthcare Policies and Regulatory Landscape

A combination of state and private healthcare providers makes up Belgium's well-established healthcare system. Through a number of organisations, including the Federal Public Service for Health, the Federal Agency for Medicines and Health Products, and the Belgian Health Care Knowledge Centre, the government controls and oversees the healthcare industry. The Medical Devices Regulation (MDR) and the In Vitro Diagnostic Regulation (IVDR), which are applicable to all EU member states, set the legal framework for 3D printed medical devices in Belgium. With the help of these laws, medical devices and in vitro diagnostic devices sold in the EU will be of the highest possible standard of performance, safety, and quality. Before their devices can be marketed and sold in Belgium, manufacturers of 3D-printed medical devices must abide by these laws and acquire the required certifications. The country's enforcement of these laws is the responsibility of the Belgium Federal Agency for Medicines and Health Products.

1. Executive Summary
1.1 Device Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Regulatory Landscape for Medical Device
1.6 Health Insurance Coverage in Country
1.7 Type of Medical Device
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

3D Printing Medical Devices Market Segmentation

By Component (Revenue, USD Billion):

The 3D Printing Medical Devices market is divided into equipment, materials, and software & services depending on the component. In 2020, the market for 3D printed medical devices was dominated by software and services. During the forecast period, the cost-effectiveness, utility, uniformity, and accuracy provided by services for medical device 3D printing are anticipated to drive the segment's expansion.

  • Equipment
    • 3D Printers
    • 3D Bioprinters
  • Materials
  • Plastics
    • Thermoplastics
    • Photopolymers
  • Metals and Metal Alloys
  • Biomaterials
  • Ceramics
  • Paper
  • Wax
  • Other Materials
  • Services & Software

By Application (Revenue, USD Billion):

The market for 3D-printed medical devices is divided into wearable/implantable medical devices, other medical devices, standard prosthetics and implants, custom prosthetics and implants, tissue-engineered goods, surgical guides, and surgical tools based on the application. In 2020, the custom prosthetics and implants market sector held a greater market share. Biological materials (such skin and bones), plastics, ceramics, and metals are just a few of the materials that may be used to create highly customizable prosthetics and implants using 3D printing. The development of this market sector is anticipated to be fueled by 3D printing of custom implants, which is drawing in new investors and medical device businesses.

  • Surgical Guides
    • Dental Guides
    • Craniomaxillofacial Guides
    • Orthopedic Guides
    • Spinal Guides
  • Surgical Instruments
  • Surgical Fasteners
  • Scalpels
  • Retractors
  • Standard Prosthetics & Implants
  • Orthopedic Implants
  • Dental Prosthetics & Implants
  • Craniomaxillofacial Implants
  • Bone & Cartilage Scaffolds
  • Ligament & Tendon Scaffolds
  • Custom Prosthetics & Implants
  • Tissue-engineered Products
  • Hearing Aids
  • Wearable Medical Devices
  • Other Applications

By Technology (Revenue, USD Billion):

The market for 3D printing medical devices has been divided into various technological categories, including electron beam melting (EBM), laser beam melting (LBM), photopolymerization, droplet deposition or extrusion-based technologies, three-dimensional printing (3DP) or adhesion bonding, and others. The segment of these that accounted for the biggest market share in 2020 was laser beam melting (LBM). The significant market share of this sector is linked to the technology's expanding use in the dentistry sector and in the production of implants for minimally invasive surgery.

  • Laser Beam Melting
    • Direct Metal Laser Sintering
    • Selective Laser Sintering
    • Selective Laser Melting
    • LaserCUSING
  • Photopolymerization
  • Digital Light Processing
  • Stereolithography
  • Two-photon Polymerization
  • PolyJet 3D Printing
  • Fused Deposition Modeling
  • Multiphase Jet Solidification
  • Low-temperature Deposition Manufacturing
  • Microextrusion Bioprinting
  • Droplet Deposition/Extrusion-based Technologies
  • Electron Beam Melting
  • Three-dimensional Printing/Adhesion Bonding/Binder Jetting
  • Other Technologies

By End User (Revenue, USD Billion):

Hospitals and surgical centers, dentistry and orthopaedic clinics, academic institutions & research laboratories, pharma-biotech & medical device firms, and clinical research organizations make up the different end-user segments of the 3D printing medical devices market. The sector of hospitals and surgical centers held the biggest market share in 2020. The significant market share of this sector can be due to the increased uptake of cutting-edge medical technology by hospitals, the expansion of existing 3D printing facilities, and the rising affordability of 3D printing services.

  • Hospitals & Surgical Centers
  • Dental & Orthopedic Clinics
  • Academic Institutions & Research Laboratories
  • Pharma-Biotech & Medical Device Companies
  • Clinical Research Organizations

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

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Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

 

 

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
  • ​Analyzing current needs and determining penetration to estimate the market

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Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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Last updated on: 27 March 2023
Updated by: Jay Dalwadi

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