Singapore 3D Printing Medical Devices Market Report 2022 to 2030

Singapore 3D Printing Medical Devices Market Analysis

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Singapore 3D Printing Medical Device Market is expected to witness growth from $4 Mn in 2022 to $12 Mn in 2030 with a CAGR of 16.90% for the forecasted year 2022-2030. In Singapore, the demand for 3D Printing Medical devices is being driven by Singapore's ageing population. The market is segmented by application, by technology and by end user. Some key players in this market include: Creatz3D, GE Healthcare, Stryker, Medtronic, Structo and Siemens Healthineers.

ID: IN10SGMD002 CATEGORY: Medical Devices GEOGRAPHY: Singapore AUTHOR: Chandni Patel

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Singapore 3D Printing Medical Devices Market Executive Summary

Singapore 3D Printing Medical Devices Market size is at around $4 Mn in 2022 and is projected to reach $12 Mn in 2030, exhibiting a CAGR of 16.90% during the forecast period. Government healthcare expenditure in Singapore is estimated at $13.2 Bn in 2020, and this is expected to triple to $36 Bn by 2029. Singapore's healthcare market is anticipated to increase by 9% from last year's $21.4 billion to $23 billion in 2023. The industry is expected to more than double to $49.4 billion by 2029. Singapore's healthcare spending, which includes both state and private costs, is anticipated to make up 5.9% of GDP in 2019 and could increase to 9% by 2029.

Singapore's healthcare industry is increasingly utilising 3D printing technology. With the help of 3D printing, medical devices can now be created especially for a patient's needs. For instance, prosthetic arms and implants can be made based on the patient's anatomy, guaranteeing a better fit and greater comfort. The expense of producing medical devices can be significantly reduced by 3D printing because it does not require expensive moulds and tooling. Patients will ultimately benefit from these cost savings as the cost of healthcare decreases. Medical device manufacturers can now use 3D printing to produce high-quality products that reach or exceed industry standards. By removing the need for costly tooling and cutting down on waste, 3D printing can help to lower the cost of producing medical devices. By removing the need for costly tooling and cutting down on waste, 3D printing can help to lower the cost of producing medical devices. Compared to conventional manufacturing techniques, 3D printing technology provides for the more accurate creation of extremely precise medical devices.

Market Dynamics

Market Growth Drivers Analysis

In Singapore, the demand for 3D Printing Medical devices is being driven by Singapore's ageing population. By doing away with the need for costly tooling and cutting waste, 3D printing technology has the potential to lower the expenses related to producing medical devices. This affordability is anticipated to increase demand for 3D printed medical devices and spur market expansion. The capabilities of medical device manufacturers are growing as a result of developments in 3D printing technology, including advancements in materials, software, and hardware. As a result, more advanced and complex medical devices have been created, and this is anticipated to fuel market expansion.

Market Restraints

In Singapore, for smaller manufacturers or those with limited resources, 3D printing technology can require a sizable upfront expenditure in tools, software, and staff training, which can be a barrier to entry. Despite the advantages of 3D printing technology, healthcare workers may take some time before adopting 3D printed medical devices. Especially in the early phases of product development, this may limit the market potential for manufacturers. When using 3D printing technology, it can be difficult to maintain consistent quality control and product standards, especially when manufacturing is scaled up. This may raise questions about the effectiveness and safety of the product, which could restrict market growth.

Competitive Landscape

Key Players

Creatz3D (SG)
Structo (SG)
Philips Healthcare
Medtronic
Boston Scientific
GE Healthcare
Siemens Healthineers
Stryker

Notable Recent Deals

2021: A collaboration between the German dental 3D printing firm BEGO and Singapore-based Structo, a provider of medical technology, was revealed in 2021. The partnership's main goal will be to create a new line of 3D printing materials specifically for the Singapore dentistry sector.

Healthcare Policies and Regulatory Landscape

The governing body in Singapore in charge of overseeing medical device regulation is the Health Sciences Authority (HSA). For the manufacture, import, and sale of 3D-printed medical devices, the agency has set regulations. The HSA mandates that producers of medical devices, including those created using 3D printing technology, receive regulatory approval. Good Manufacturing Practice (GMP) laws must be followed by 3D Printing medical device manufacturers in Singapore to guarantee that the devices are constantly created and monitored in accordance with quality standards. This includes making sure the 3D printing method and components adhere to legal specifications.

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

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.