Malaysia 3D Printing Medical Devices Market Report 2022 to 2030

Malaysia 3D Printing Medical Devices Market Analysis

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Malaysia 3D Printing Medical Device Market is expected to witness growth from $5 Mn in 2022 to $16 Mn in 2030 with a CAGR of 16.50% for the forecasted year 2022-2030. In Malaysia, the demand for Medical devices like implants, prosthetics, and orthotics—which can be created using 3D printing technology—is being driven by Malaysia's ageing population. The market segmented by application, by technology and by end user. Some key players in this market include: Vigilenz Medical Devices, GE Healthcare, Stryker, Teleflex Medical, Siemens Healthineers and Philips Healthcare.

ID: IN10MYMD002 CATEGORY: Medical Devices GEOGRAPHY: Malaysia AUTHOR: Jigyasu Bhandari

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Malaysia 3D Printing Medical Devices Market Executive Summary

The Malaysia 3D Printing Medical Devices Market size is at around $5 Mn in 2022 and is projected to reach $16 Mn in 2030, exhibiting a CAGR of 16.50% during the forecast period. In 2023, Malaysia expects to spend $16 billion on healthcare, an increase of 7.1% from 2019. They predicted that over the following five years, the expense of healthcare will rise by 7.6%, totalling $22.6 Billion by 2027. One of the oldest countries in the globe by 2045, Malaysia is projected to have 14% of its population be 65 years of age or older.

The Healthcare sector in Malaysia is using 3D printing technology more and more. Medical devices can now be made specifically for a patient's requirements using 3D printing. For instance, based on the anatomy of the patient, prosthetic arms and implants can be created, ensuring a better fit and increased comfort. Due to the lack of costly moulds and tooling, 3D printing can greatly lower the cost of producing medical devices. This cost savings will eventually benefit patients by lowering the cost of healthcare. The ability to create high-quality medical devices using 3D printing that meet or surpass industry standards is now possible. By using 3D printing, medical devices can be made that would not have been feasible using conventional manufacturing processes. Better patient treatment options and enhanced healthcare outcomes may result from this.

Market Dynamics

Market Growth Drivers Analysis

In Malaysia, the demand for Medical devices like implants, prosthetics, and orthotics—which can be created using 3D printing technology—is being driven by Malaysia's ageing population. Recent advancements in 3D printing technology have made it possible to create precise, high-quality medical devices that match or exceed industry standards. Patients are calling for more individualised healthcare options, and 3D printing technology now makes it possible to create medical devices that are specifically built for each patient's individual requirements. Through programmes like the National 3D Printing Strategic Plan, the Malaysian government has demonstrated its support for the growth of the 3D printing sector, including the creation of medical devices.

Market Restraints

Manufacturers may find it difficult to navigate Malaysia's complicated regulatory climate for 3D Printed medical devices. For 3D printed medical devices, obtaining the required certifications and approvals can be a time-consuming and expensive procedure. Despite recent major advancements in 3D printing technology, there are still restrictions on the types of materials that can be used, the size and complexity of the devices that can be created, and the rate of production.

Competitive Landscape

Key Players

Vigilenz Medical Devices (MY)
Teleflex Medical (MY)
Siemens Healthineers
Medtronic
Boston Scientific
GE Healthcare
Stryker

Notable Recent Deals

2020: The National Institutes of Biotechnology Malaysia (NIBM) and the international 3D printing firm Stratasys announced a partnership in 2020 to launch Malaysia's first 3D printing medical centre. The facility intended to offer patients in Malaysia and Southeast Asia 3D printed implants and medical devices.

Healthcare Policies and Regulatory Landscape

The Medical Device Authority (MDA), a division of the Ministry of Health (MOH) in Malaysia, is in charge of overseeing the regulatory framework and healthcare policies for 3D printed medical devices. The MDA is in charge of making sure that medical devices, including those made using 3D printing technology, are secure, effective, and of high quality in Malaysia. The main regulation governing medical devices in Malaysia is the Medical Device Act of 2012. Prior to being marketed or distributed in the nation, all medical devices must be registered with the MDA. The act also specifies what medical device suppliers and makers must do to guarantee the security and effectiveness of their devices. Malaysian manufacturers of 3D Printing medical devices are required to adhere to Good Manufacturing Practice (GMP) standards to guarantee the quality and security of their devices. All facets of manufacturing, including creation, production, testing, and distribution, are covered by the regulations.

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.