3D Printing Medical Devices Market Estimated To Escalate Enormously with A Cheering CAGR at 18% by 2023
The Global 3D Printing Medical Devices Market is expected to grow during the forecast period (2018–2023) at a CAGR approximately 18%.
Key Players for Global 3D Printing Medical Devices Market
Market Research Future (MRFR) recognizes the following companies as the key players in 3D Printing Medical Devices Market: There are plenty of large and small market players which operate in this market all over the globe.
Some of the key players in the global 3D printing medical devices market are 3D Systems Corporations, Stratasys Ltd., SLM Solutions Group AG, EnvisionTEC, Arcam AB, Organovo Holdings, Inc., Oxford Performance Materials, Inc., Materialise NV, Bio3D Technologies, Cyfuse Medical K.K.EOS GmbHConcept, Laser GmbH, Renishaw plc, Prodways Group, 3T RPD Ltd.
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3D Printing Medical Devices Market – Sketch
Global 3D Printing Medical Devices Market is expected to grow due to increasing investment made by the government in healthcare sector, growing technological advancement in 3D printing, easy development of medical devices and growing application of 3D printing device in healthcare industry. 3D printing plays a vital role in medical and dental manufacturing industry. It is very cost effective and preferred option by medical device manufacturers including all types of medical devices such as hearing aids, prostheses, custom made knee and hip implant. 3D printing medical device is expected to show significant growth during the forecast period due to numerous technological innovations in this sector. In addition, some other factors such as R&D investment, rapidly expanding customer base, increasing scope of biomedical application has fueled the market growth.
However, some factors that may hamper the growth of market in future are unfavorable reimbursement policies, high cost of printers, biocompatibility issues of 3D printed medical devices and limited technical expertise in medical devices.
Segments for Global 3D Printing Medical Devices Market
The global 3D printing medical devices market has been segmented into types, component, technology, application and end-users.
On basis of types, the global 3D printing medical device market is segment into surgical guides, surgical instruments, prosthetics & implants and tissue engineering product. Surgical guide is expected to hold the largest share of 3D printing medical device market in forecast period. 3D printing surgical guide is a part of surgical planning and it provides accurate implant restoration. Hence the demand for surgical guide is increasing and this is key factor driving the growth of this market segment.
Based on component, the global 3D printing medical device market is segment into system, materials software & services, 3D bio printer and 3D printer. Software & services is expected to account for the largest share of 3D printing medical device market in forecast period. Increasing development in software solutions to manufacture high-quality 3D-printed medical products is the key factor driving the growth of the services and software segment.
On basis of technology, the global 3D printing medical device market is segmented into 3D printing, droplet deposition, photopolymerization, laser beam melting, electron beam melting (EBM), laminated object manufacturing (LOM), polyjet technology and others. Photopolymerization is expected to account for the largest share of 3D printing medical device market.
Based on application, the global 3D printing medical device market is segmented into external wearable devices, clinical study devices, implants and tissue engineering. The external wearable devices segment account for the largest share of 3D printing medical device market in forecast period.
Based on end-users, the global 3D printing medical device market is segmented into hospitals, medical and surgical centers, pharma and biotech companies, academic institutions and contract research organization. The medical and surgical centers segment account for the largest share of 3D printing medical device market due to rapidly increasing patient population and reduction in operative and infection risks
Regional Analysis for Global 3D Printing Medical Devices Market
In terms of market value, North America dominates the global 3D printing medical devices market through the forecast period. The largest share is attributed to increasing demand for organ transplant across the region. Due to increasing investment made by the government to develop advances 3D printing technologies and applications are some of the factors responsible for growth of market in this region.
The European market is expected to be the second-largest 3D printing medical device market. The market growth in this region can be attributed to government funding and support of the healthcare sector coupled with increasing research and development. Moreover, a growing number of surgeries due to changing lifestyles is contributing to the growth of the market in this region.
Asia-Pacific is expected to be the fastest-growing 3D printing device market during the forecast period owing to the increasing prevalence of chronic diseases, rising investments in healthcare, increasing geriatric population and expansions by market players in the region.
The market in the Middle East & Africa is expected to account for the smallest share of the global 3D printing medical devices market due to an underdeveloped healthcare sector, lack of technical knowledge, and poor medical facilities.
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Some Brief Table of Contents of Report
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
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