Growth of 3D Printed Medical Device Market Trends, Share, Industry Size, Opportunities and Forecast


Posted April 25, 2018 by DenMark1

3D printing also known as additive manufacturing is a procedure of creating three dimensional hard objects using digital file. The formation of a 3D printed object is completed by means of additive processes.

 
“3D Printed Medical Device Market: Global Demand Analysis & Opportunity Outlook 2021”

3D printed medical device Market Overview

3D printing also known as additive manufacturing is a procedure of creating three dimensional hard objects using digital file. The formation of a 3D printed object is completed by means of additive processes. 3D printing is now majorly being used in various industrial sectors including manufacturing, healthcare and automotive all over the world.

Global 3D Printed Medical Device Market is envisioned to reach USD 2.20 Billion over the forecast period i.e. 2015-2021, exhibiting a compound annual growth rate (CAGR) of 25.6%. Geographically, the global 3D printed medical device market is segmented into North America, Latin America, Western and Eastern Europe, Asia-Pacific, Middle East and North Africa (MENA) and Rest of World.

Growth drivers and challenges

Technical innovations in 3D printing, increasing government support, and 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 forecast period i.e. 2015-2021.

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In addition to that, escalating demand of organ transfer coupled with mergers and collaborations in 3D printing market are believed to garner the global 3D printed medical device market during 2015-2021. However, high cost involved in 3D printing system and specific skills required to operate 3D printing technology are few of the major challenges which are expected to hamper the growth of global 3D printed medical device market in future.

Market Size and Growth

With 37% of share in 2015, North America dominated the global 3D printed medical device market. The market in the region is anticipated to flourish owing to growing awareness in patients, expanding health care spending and rising expenditure on research and development.

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Europe is the second largest 3D printed medical devices market behind North America. The market in the region is expected to augment from rising demands of customized medical instruments and devices. 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.

Key Players

The global 3D printed medical devices market encompasses some of the key players including Stratasys Inc., Envision TEC, Materialise NV, 3D Systems, Inc, Worrell, Rainbow Biosciences, FabRx Ltd., EOS GmbH, Cyfuse Biomedical K.K., Renishaw plc, etc.

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Research Nester is a leading service provider for strategic market research and consulting, serving clients from 120+ countries across the globe. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.

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Issued By Ajay Daniel
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Categories Business , Health , Technology
Tags 3d printed medical device market , 3d printed medical device market analysis , 3d printed medical device market forecast , 3d printed medical device market growth , 3d printed medical device market research , 3d printed medical device market trend , global 3d printed medical device market
Last Updated June 26, 2018