3D Printed Medical Device Market By Share, Size, Industry Players, Revenue And Product Demand Forecast Till 2026
The global market for 3D printed medical device is envisioned to reach USD 2.20 Billion, expanding at a compound annual growth rate (CAGR) of 25.6% over the period 2017-2026. Increasing demand for 3D printing in various sectors such as manufacturing, healthcare and automotive industries among numerous others is estimated to boom 3D printed medical device market by noteworthy revenue by the end of forecast period.
The printed medical device market has been segmented into 3D printing equipment, materials, services & software, electron beam melting, photo polymerization, surgical guides, prosthetics & implants and clinical study devices among many others. Among these segments, the photo polymerization segment is anticipated to dominate the overall 3D printed medical device market based on technology.
This can be attributed to its widespread usage in medical field industries such as surgical guides, prosthetics & implants and others. These factors are envisioned to strengthen the growth of 3D Printed Medical Device Market.
In the regional segment, North America dominated the global 3D printed medical device market with a 37% share in 2015 and is anticipated to continue its dominance due to growing awareness in patients, expanding health care spending and rising expenditure on research and development. After North America, Europe is the second largest 3D printed medical devices market and is expected to drive the growth of the market owing to rising demands of customized medical instruments and devices.
Further, the Asia-Pacific 3D printed medical device market is estimated to nurture at highest CAGR over the period of 2015-2021 sparked by expanding government budget to improve establishment of 3D printing research centers in countries such as India and China
Medical Industry Reflects Significant Opportunities
The usage of 3D printing in medical sector is expected to benefit the expansion of 3D printed medical device market in the long run. Increasing applications of 3D-printed organs in organ transplantation surgeries are expected to be the main growth drivers of global 3D printed medical device market over the period 2015-2021.
In addition to that, escalating demand for organ transfer coupled with mergers and collaborations in 3D printing market are anticipated to drive the growth of the market. Further, factors such as technical innovations in 3D Printing and increasing government support are believed to bolster the growth of 3D printed medical device market globally.
However, lack of specific skills and high cost are likely to inhibit the growth of the 3D printed medical device market in the near future.
This report also provides the existing competitive scenario of some of the key players of the 3D printed medical device market which includes company profiling:
Stratasys Inc., Envision TEC, Materialise NV, 3D Systems Inc., Worrell, Rainbow Biosciences, FabRx Ltd., EOS GmbH, Cyfuse Biomedical K.K. and Renishaw Plc among others.
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 3D printed medical devicemarket 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.
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