Middle-East and Africa Medical Device 3D Printing Market – set to reach USD 178.27 million


Posted February 27, 2018 by Mounika09

Global market is projected to reach USD 178.27 million by 2022, growing at a CAGR of 25.27% during the forecast period 2017-2022

 
The technology for 3-D printing, also known as additive manufacturing, has existed in various form since the 1980s. However, the technology has not been proficient enough or cost-effective for most end-product or high-volume commercial manufacturing. Right now expectations are running high that these shortcomings are about to change with 3D printing quite possibly being the next greatest chapter in the industrial uprising.

Now, with the availability of wide range of material options like polymers, nylon etc and the fall in of 3D models prices have increased the adaptability of 3D printing in healthcare sector. The technology can impact healthcare through implantable and non-implantable medical devices, along with cost-effective customisable devices. Additionally, the prices of 3D models and the availability of materials have increased the adaptability of 3D printing in the healthcare sector.

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Middle-East and Africa Medical Device 3D Printing Market: Drivers & Restraints

The rising demand for patient-specific products in orthopaedics and maxillofacial surgery in addition to the latest advancements in technologies, diversity of materials that range from polymers to living tissue, growing awareness about the new developments in the healthcare field, funding’s from government agencies, especially in African countries are driving the growth of Middle East and Africa medical device 3D printing market. Further, with the availability of wide range of material options like polymers, nylon etc. and the decrease in 3D models prices have increased the adoptability of 3D printing in medical sector.

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Middle-East and Africa Medical Device 3D Printing Market: Overview

With the demand for 3D printed medical device is expected to rise in the near future, many new and existing MNC’s want to capitalize on this niche opportunity. It is found that plastics like acrylonitrile butadiene styrene (ABS), and polylactic acid (PLA) along with nylon, have increased usage mainly due to the comfortability in their usage. Use of metals with high strength and resistance is expected to have fastest growth in the near future.

A number of factors, including increased government funding to enhance 3D printing applications in the healthcare industry, establishment of research and training centers, and rising awareness of 3D printing through conferences and events are propelling the growth of the 3D printing medical devices market in the this region. However, dearth of skilled professionals and high cost of 3D printing systems restricts its demand in the developing Asian countries.

Middle-East and Africa Medical Device 3D Printing Market: Region-wise Outlook

Further, on the basis of geography the market is segmented and analysed under regions of Middle East and Africa. South Africa being the most developed country in the African region is set to offer large market not just limiting to its borders but also reaching the potential users in the developing African countries. Coming to the Middle east, some being the world richest countries, thanks to the oil money, is also a potential market for 3D printed medical device as money won’t be a barrier here but lack of support from governments can be an issue for sustainable growth.

Some of the major companies already operating in the 3D printing industry with significant presence in medical equipment domain are 3D Systems Corporation, Stratasys Ltd., EnvisionTEC GmbH, Renishaw plc, Materialise NV, 3T RPD, Ltd., EOS GmbH Electro Optical Systems, Concept Laser GmbH, Arcam AB, and Prodways.


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Tags Middle East and Africa Medical Device 3D Printing Market , Medical Device 3D Printing Market Research Report , 3d printing healthcare market
Last Updated February 27, 2018