Thailand 3D Printing Medical Devices Market Analysis Report 2022-30

Thailand 3D Printing Medical Devices Market Analysis

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Thailand 3D Printing Medical Device Market is expected to witness growth from $4Mn in 2022 to $12 Mn in 2030 with a CAGR of 16.64% for the forecasted years 2022–2030. The Demand for more sophisticated and accurate 3D Printed Medical devices is being driven by Thailand's increasing prevalence of chronic diseases and age-related ailments. The market is segmented by application, by technology and by end user. Some key players in this market include: Mercator Medical, Recharge Health, GE Healthcare, Stryker, Medtronic, and Philips Healthcare.

ID: IN10THMD002 CATEGORY: Medical Devices GEOGRAPHY: Thailand AUTHOR: Jigyasu Bhandari

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Thailand 3D Printing Medical Devices Market Executive Summary

The Thailand 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 16.64% during the forecast period. The overall cost of healthcare in Thailand is thought to be $25.3 billion. Costs are projected to increase by $47.9 billion by 2026, which would indicate a compound annual growth rate of 6.6% over the preceding 10 years. With a 6.6% share of GDP, the expense of healthcare is also high. Another issue is Thailand's ageing populace, which will comprise 20% of the nation's population by 2024. In 2019, Thailand's per-capita healthcare expenditure was $296. The average annual growth rate for Thailand's health expenditure per capita was 8.83%, rising from US$62 in 2000 to US$296 in 2019.

Thailand's medical sector has adopted 3D printing, with numerous hospitals and research facilities using this technology to enhance patient treatment. Custom prosthetics can be created using 3D printing and can be produced to suit each patient's individual anatomy, improving comfort and functionality. Thailand-based surgeons use 3D printed surgical guides to guarantee accurate and exact placement of surgical tools, implants, and other medical devices. Implants can now be produced using 3D printers that are more durable and biocompatible and conform to the anatomy of the patient. The development of specialised hearing aids that precisely suit the patient's ear canal thanks to 3D printing technology has improved comfort and sound quality. By enabling the creation of specialised dental implants that precisely fit the patient's mouth and offer greater stability and functionality, 3D printing has revolutionised the dental sector.

Thailand 3D printing Medical device market

Market Dynamics

Market Growth Drivers Analysis

One of the key drivers behind the market's expansion is the rising prevalence of surgical operations due to a variety of causes around the world. In other words, increasing rates of kidney stones, auto accidents, and other problems are directly causing the market to expand. Public-private investment for various efforts in the 3D printing sector has significantly increased in recent years. Such research and financing initiatives are anticipated to accelerate the development of 3D printing technologies and goods, consequently bolstering the market for 3D printed medical equipment.

Market Restraints

There are still only a limited number of parts that can be used to 3D printed medical devices, and some materials might not be available in Thailand. This might restrict the types of Medical devices that can be made with 3D printing. The original investment and cost per created unit of 3D printing technology may be higher than those of traditional manufacturing methods. This might limit the use of 3D printing by Thai manufacturers.

Competitive Landscape

Key Players

Mercator Medical (TH)
Recharge Health (TH)
Boston Scientific
Nihon Kohden
GE Healthcare
Philipps Healthcare
Stryker

Notable Recent Deals

2020: MicroPort Scientific Corporation, a manufacturer of 3D Printed medical devices, declared intentions to invest $100 million in a 3D printing facility in Thailand in 2020. The facility will be used to make medical devices using 3D printing technology, including orthopaedic implants.

Healthcare Policies and Regulatory Landscape

The Medical Device Act, which offers a regulatory framework for the production, import, and sale of medical devices, was created by the Thai government in terms of healthcare policies and laws. The Thai Food and Drug Administration (FDA), which is in charge of overseeing medical device regulation in the nation, is in charge of enforcing the law. The FDA also keeps a list of medical devices that are authorised, and this list includes 3D printed medical devices. The growth of the 3D printing sector in Thailand has received support from the Thai government. A 3D printing laboratory has been created at the National Science and Technology Development Agency (NSTDA) as one of the initiatives the Ministry of Industry has launched to encourage the use of 3D printing technology.

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.