Philippines 3D Printing Medical Devices Market Report 2022 to 2030

Philippines 3D Printing Medical Devices Market Analysis

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Philippines 3D Printing Medical Device Market is expected to witness growth from $7 Mn in 2022 to $23 Mn in 2030 with a CAGR of 16.80% for the forecasted year 2022-2030. As the population ages and the prevalence of chronic illnesses among the elderly rises, the market for 3D printed medical devices in the Philippines is growing. The market is segmented by application, by technology and by end user. Some key players in this market include: ATOMED Cebu, GE Healthcare, Stryker, SpectruMed, Boston Scientific and Philips Healthcare.

ID: IN10PHMD002 CATEGORY: Medical Devices GEOGRAPHY: Phillipines AUTHOR: Jigyasu Bhandari

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Philippines 3D Printing Medical Devices Market Executive Summary

The Philippines 3D Printing Medical Devices Market size is at around $7 Mn in 2022 and is projected to reach $23 Mn in 2030, exhibiting a CAGR of 16.80% during the forecast period. The Philippines' annual spending on health rose from $14.32 billion in 2019 to $16.12 billion in 2020. Consequently, it constituted 5.6% of the Gross Domestic Product at current prices (GDP). In the Philippines, the household Out-Of-Pocket (OOP) contribution accounted for about 41.5% of current health expenditure in 2021. In the Philippines, households spent about $11.65 billion on health-related final spending in 2022.

In the Philippines, 3D printing can be used to produce custom-made surgery instruments, implants, and prosthetics for patients. Making medical equipment more affordable for people in the Philippines is possible with 3D printing. By producing medical devices locally rather than importing costly medical tools, 3D printing lowers the cost of production. By creating customised medical devices that suit better and perform better, 3D printing can enhance patient outcomes in the Philippines. For instance, 3D printed implants can be made to fit the anatomy of the patient, improving results. The expense and waiting times for patients in the Philippines can be decreased by using 3D printing to create personalised prosthetics. For people in the Philippines, 3D printing can be used to create implants like dental implants, cranial implants, and hip and knee replacements.

Philippines 3D Printing Medical Device Market Analysis

Market Dynamics

Market Growth Drivers Analysis

As the population ages and the prevalence of chronic illnesses among the elderly rises, the market for 3D printed medical devices in the Philippines is growing. In the Philippines, Chronic diseases like diabetes, heart disease, and cancer are becoming more prevalent. The development of medical devices that are better adapted to treat these diseases can be aided by 3D printing technology. The major element propelling the market is the significant expansion of the healthcare sector. Manufacturers are now able to create personalised medical devices that are tailored to the unique requirements of individual patients thanks to developments in 3D printing technology. This has led to a rise in the demand for medical devices that are 3D printed and more effective and efficient than conventional ones. 3D printer technology has advanced significantly in the Philippines. This has improved the effectiveness and quality of 3D printed medical devices, increasing their affordability and accessibility for both individuals and healthcare professionals.

Market Restraints

In the Philippines medical sector, there is currently no standardisation for 3D printing medical devices, which can make it challenging for manufacturers to create products that adhere to regulatory standards and particular specifications. It may be more difficult and costlier to obtain regulatory clearance for 3D Printing Medical devices in the Philippines due to the country's strict medical device regulations. This might affect how the market develops and how new competitors enter the Philippines' market for 3D Printing medical devices, accordingly. 3D Printing Medical devices are not widely covered by comprehensive health insurance in the Philippines, which may limit their expense and availability to patients who need them.

Competitive Landscape

Key Players

ATOMED Cebu (PH)
SpectruMed (PH)
Philips Healthcare
Medtronic
Boston Scientific
GE Healthcare
Stryker

Notable Recent Deals

2020: The University of the Philippines (UP) and the Philippine Department of Science and Technology (DOST) declared a collaboration in 2020 to create 3D-printed prosthetics for children with disabilities.

Healthcare Policies and Regulatory Landscape

3D Printing Medical devices are manufactured, imported, distributed, and sold in the Philippines under the supervision of the Food and Drug Administration (FDA). Guidelines, including ones for quality assurance, testing, and documentation, have been created by the FDA for the use of 3D printing in the production of medical devices. In accordance with the regulations, medical devices that are 3D printed must also adhere to the same safety and efficacy requirements as those that are applied to conventionally made ones. The Philippine Department of Health (DOH) has been working to enhance the nation's general healthcare system and infrastructure in addition to the FDA regulations. The DOH has put in place programmes to broaden accessibility to healthcare, encourage the use of technology in healthcare delivery, and raise the standard of healthcare in the nation.

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.