Global 3D Printing Medical Device Market in Good Shape in 2019; COVID-19 to Affect Future Growth Trajectory

A stew of medium and small scale industries have barged into the global 3D printing medical devices market, making it a high competition amongst the players, notices Transparency Market Research in a newly published report. In order to fortify a strong foothold, organizations are trying to collaborate with local companies. Expansion of product portfolio, product differentiation, accompanied with deep research are the other things that the players are focusing on in order to build their brand name. Some of the key players in the global 3D printing medical device market are Materialise NC, SLM Solutions, Arcam Ab, FabRx Ltd., Cyfuse Biomedical K.K., Concept Laser, 3D Systems Inc., Envision Tec, and Organovo Holdings.

On the basis of component the market is classified into material, printer, software and services. Amongst these the software and services accounted for the highest share and is expected to continue so during the forecast period. This is because of the installed printers which requires maintenance and services overtime, is bolstering the market growth. Geographically, the North America holds the largest share in term of revenue and is expected to continue so in future.

It is anticipated that the global 3D printing devices market to be worth around US$3513.o mn in terms of revenue by 2025 from revenue worth of US$713.3 mn accounted in 2016. During the assessed period, the market is anticipated to expand at 17.7% of CAGR.

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Technological Advancement in 3D Printing Medical Devices Is Expected To Drive the Global Market

Tremendous technological advancement happening in the 3D printing sector after the arrival of this concept is pushing the global 3D printing market to perform better. This is because the 3D printing sector finds its abundant usage in healthcare sector apart from construction, military and automobile sector. The 3D printing medical device has recently gained popularity among the patients. It has gained the trust of both doctors and patients, thus fueling the market growth. Rise in need 3D printing medical device for implants, surgical instruments, tissue fabrication, surgical instruments, and prosthetics has increased the demand for these device.

High Initial Cost To Deter the Market Growth

Thought the 3D global medical device is expected to grow at a steep rate, but strict regulations in various countries regarding the sale of these devices imposed by both private and government agencies is expected to deter the market growth rate. The market is also challenged by the high initial cost of such devices. Other factors such as heavy funds required for a small organization to have a strong foothold in the market is curbing the growth rate. Another major factor which is expected to bring down the growth rate of the market is absence of skilled expertise and the lack of accessibility of such advanced device in the rural or underdeveloped region. Though the inflow funds by leading player for research and development is expected to attract the consumer at a faster rate.

The study presented here is based on a report by Transparency Market Research (TMR), titled, “3D Printing Medical Device 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”.

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Leading segments of the global 3D printing medical device market:

3D Printing Medical Device Market, by Component

Printers
Materials
Software & Services

3D Printing Medical Device Market, by Technology

Electron Beam Melting
Selective Laser Melting
Selective Laser Sintering
Photo polymerization
Direct Metal Laser Sintering
Others

3D Printing Medical Device Market, by Application

Orthopedics & Cranial Implants
Dental Restorations
Surgical Instruments
Others (Tissue Fabrication, External Prosthesis)

3D Printing Medical Device Market, by Region:

North America
The U.S.
Canada
Rest of North America
Europe
The U.K.
Germany
France
Rest of Europe
Asia Pacific (APAC)
India
China
Japan
Australia
Rest of APAC
Middle East and Africa (MEA)
GCC Countries
South Africa
Rest of MEA
Latin America
Brazil
Rest of South America

Customization of the Report: This report can be customized as per your needs for additional data or countries. – https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=29084

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