ALBANY, New York, May 29, 2020 /PRNewswire/ -- In the backdrop of growing benefits of 3D printing in spectrum of medical applications, clinical acceptance of 3D printed implants, dental restorations, surgical instruments, tissue fabrication, and prosthetics are increasing. Cost-efficiency and productivity gains for medical device manufacturers using 3D printing systems and materials will help the market reach new heights.
The current valuation of the 3D printing medical devices market stood at US$823.0 million in 2016 and is projected to expand at 17.7% CAGR from 2017 to 2025 (the forecast period). By the period end, the revenues will reach worth of US$3513.0.
Strategic investments by leading players will help unlock new prospects in the 3D printing medical devices market, note analysts at TMR.
Key Takeaways in 3D Printing Medical Devices Market Study
Of the various regional markets, Asia Pacific is expected to show a remarkable promising growth during 2017 – 2025
North America held the leading share in 2016; marked presence of top players imparts the growth impetus
South East Asia to have notable contribution to market opportunities in Asia Pacific
Of the various components, software and services segment led the 3D printing medical devices market in 2016, and will continue to expand at promising pace
Material component is expected to exhibit prominent growth rate during assessment period
Explore 169 pages of top-notch research, incisive insights, and detailed country-level projections. Gain business intelligence on 3D Printing Medical Devices Market (Component - Printers, Materials, and Software and Services; Technology - Electron Beam Melting, Selective Laser Melting, Selective Laser Sintering, Photo polymerization, and Direct Metal Laser Sintering; Application - Orthopedic and Cranial Implant, Dental Restorations, Surgical Instruments, Tissue Fabrication, and External Prosthesis) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 - 2025 at https://www.transparencymarketresearch.com/3d-printing-medical-devices-market.html
3D Printing Medical Devices Market: Key Driving Factors and Promising Avenues
Emerging technology paradigms in healthcare sector and pharmaceutical and medical devices manufacturing have underpinned the 3D printing medical devices market to evolve.
Increasing trend of customization and personalization of range of medical products, and drugs is a key aspect fueling growth in the 3D printing medical devices market
Rapid advances made in additive manufacturing technologies have helped bring down the cost of 3D printers, thereby boosting the demand in medical equipment manufacturing
Advent of new materials that have become compatible for 3D printing has expanded the use cases in drug making and complex medical structures
Companies engaged in in commercial medical applications are increasing their investments to reap benefits of 3D printing medical devices in personalized healthcare, world over
Need for custom-made surgical tools and implants for improving surgical outcomes is bolstering demand in 3D printing medical devices market
Commercialization of 3D printers has created the need for installation services and maintenance works, thereby boosting revenue generation potential of 3D printing medical devices market
3D Printing Medical Devices Market: Regional Outlook
Among the various geographies in 3D printing medical devices market, North America attained the top spot in 2016. In the subsequent years, it continued with its dominant streak, backed by ceaseless investments in research and developments in exploring new medical applications of 3D printing. The U.S. and Canada have spearheaded several of these developments. Prospects in the regional market have seen a steep rise on the back of increasing collaboration among 3D printer manufacturers, medical devices manufacturers, and key proponents of healthcare across the economies of North America.
Analyze 3D printing medical devices market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea, Request a sample of the study.
Key Impediments to 3D Printing Medical Devices Market Players
Despite the large gains of 3D printing in creating personalized medical devices, the growth of has been hampered by regulatory challenges and constraints of high cost. Despite the fast expanding use cases of 3D printing in several industries, including medical and pharmaceutical, numerous countries lack regulations that will promote the clinical acceptance of such products. Many of these countries have stringent norms for the use of 3D printed products. Furthermore, there seems to a conspicuous lack of technical expertise to use 3D printed devices. Their high cost of these devices is also a demand dampener in cost sensitive markets. On the other hand, several prominent players are entering into collaborations with top players to consolidate their positions.
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