Research Nester has released a report titled “3D Printing Medical Device Market – Global Demand Analysis & Opportunity Outlook 2026” which delivers detailed overview of the global 3D printing medical device market in terms of market segmentation by technology, by component, by type and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global 3D printing medical device market is segmented by technology into photopolymerization, laser beam melting, droplet deposition and others, out of which, the photopolymerization segment is anticipated to hold the largest market share by the end of 2026 by registering a CAGR of around 18% over the forecast period, i.e. 2019-2026. The segment held a market share of around 35% in the year 2017 and is anticipated to cross a value of around USD 1200 million by the end of 2026. On the other hand, the droplet deposition segment is anticipated to grow with a CAGR of around 17% over the forecast period.
The global 3D printing medical device market is anticipated to achieve a CAGR of around 17% during the forecast period. Growing advancement in healthcare infrastructure, increasing expenditure of the government for the development of healthcare industry along with the rising demand for organ transplant amongst individuals around the globe are some of the factors anticipated to contribute significantly towards the growth of the global 3D printing medical device market. The market, which held a value of around USD 1000 million in the year 2019 is anticipated to achieve an absolute $ opportunity of around USD 2200 million during the forecast period and garner a value of around USD 3200 million by the end of 2026.
Regionally, the global 3D printing medical device market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, North America, which held a market share of around 35% in the year 2017, is anticipated to hold the largest market share by the end of 2026, primarily dominated by the U.S., owing to the growing initiatives observed in the educational institutes along with education grants and R&D funding in leading research institutes in the nation, which are increasingly procuring 3D technology devices along with growing interest of the government of the nation to invest on such devices for advancements and in-depth research and development. Additionally, U.S. held the dominant market share of around 64% in the year 2017. Moreover, the market of North America 3D printing medical device is expected to expand by observing the growth rate of around 3.40x over the forecast period.
Increasing Utilization of 3D Printing Technology in Healthcare Industry
Out of the total turnover of 3D printing technology, healthcare industry has always been one of the major contributors on account of the increasing application of 3D printing technology that has been observed over the years in the healthcare industry. There are numerous benefits of using 3D printing technology in the healthcare industry, especially in dental, orthopedic and acoustic fields. The technology is used to develop tissues, organs and bones amongst others. On the other hand, many healthcare institutes use 3D printing technology to print surgical instruments such as hemostats, forceps, scalpel handles and others. It has also been observed that manufacturers in the healthcare industry often use 3D printing medical devices to develop product prototypes, which helps specialists in the industry to perform their day-to-day task as well as develop advanced tools. The rising utilization of 3D printing medical devices in the healthcare industry along with the increasing geriatric population around the world, which demands a greater share of organ implants are some of the factors anticipated to drive the growth of the global 3D printing medical device market.
However, concerns regarding stringent regulation of the governments of nations around the world for the utilization of 3D printing medical device as access to these devices can severely possess a threat to the healthcare industry are some of the factors anticipated to limit the growth of the global 3D printing medical device market.
This report also provides the existing competitive scenario of some of the key players of the global 3D printing medical device market, which includes company profiling of Prodways Group (EPA: PWG), Formlabs, Stratasys Ltd. (NASDAQ: SSYS), 3D Systems, Inc. (NYSE: DDD), Materialise NV (NASDAQ: MTLS), Organovo Holdings, Inc. (NASDAQ: ONVO), Renishaw plc (LON: RSW), Envisiontec, Inc., EOS GmbH and General Electric (NYSE: GE). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global 3D printing medical device market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.