Nov 29, 2021 (AmericaNewsHour) -- 3D printing technology is one such technology that has benefitted the healthcare industry in a massive way. Over the years, the healthcare industry has contributed significantly to the overall turnover of the 3D printing technology. This can be attributed to the growing application of 3D printing technology in the healthcare industry, which especially helps specialists to design and develop advanced tools that help them excel in their service quality.
3D printing medical devices are extremely beneficial in dental, orthopedic and acoustic fields as the technology is used to develop tissues, organs and bones amongst others as well as to print surgical instruments such as hemostats, forceps, scalpel handles and others. Apparently, healthcare manufacturers use 3D printing medical devices to develop product prototypes, which helps specialists in the industry to perform their day-to-day task as well as develop advanced tools. On the other hand, the increasing geriatric population around the world, which demands a greater share of organ implants, along with the rising utilization of 3D printing medical devices in the healthcare industry are some of the factors anticipated to drive the growth of the global 3D printing medical device market.
Research Nester has released a report titled "3D Printing Medical Device Market - Global Demand Analysis & Opportunity Outlook 2026" which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter's five force model.
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The global 3D printing medical device market is anticipated to grow at a CAGR of around 17%% during the forecast period, i.e. 2019-2026. The market is thriving on account of growing advancement in healthcare infrastructure, increasing expenditure of the government for the development of healthcare industry along with the rising demand for organ transplant amongst individuals around the globe. The global 3D printing medical device market, which was valued at around USD 1000 million in the year 2019 and is expected to garner a value of around USD 3200 million by the end of 2026 and to achieve an absolute $ opportunity of around USD 2200 million during the forecast period.
The global 3D printing medical device market is segmented by technology into photopolymerization, laser beam melting, droplet deposition and others. Among these segments, the photopolymerization segment, which held a market share of around 35% in the year 2017 is anticipated to hold the largest market share by the end of 2026 and register a CAGR of around 18% over the forecast period, i.e. 2019-2026. The droplet deposition segment, on the other hand, is anticipated to grow with a CAGR of around 17% over the forecast period.
Geographically, the global 3D printing medical device market is segmented by five major regions into North America, Europe, Middle East & Africa, Asia-Pacific and Latin America region, out of which, North America, which held a market share of around 35% in the year 2017 is primarily driven by nations such as U.S. and Canada. Out of these, U.S. held the dominant market share of around 64% in the year 2017 on account of growing initiatives observed in the educational institutes along with education grants and R&D funding in leading research institutes in the nation, which are increasingly procuring 3D technology devices along with growing interest of the government of the nation to invest on such devices for advancements and in-depth research and development. Moreover, the North America 3D printing medical device market is expected to expand by observing the growth rate of around 3.40x over the forecast period.
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However, concern for the stringent regulations for the utilization of 3D printing medical device by the governments of nations around the world as access to these devices can severely possess a threat to the healthcare industry are some of the factors estimated to act as a barrier to the growth of the global 3D printing medical device market.
This report also studies existing competitive scenario of some of the key players of the global 3D printing medical device market, which includes profiling of Prodways Group (epa:PWG), Formlabs, Stratasys Ltd. /zigman2/quotes/207628786/composite SSYS -3.37% , 3D Systems, Inc. /zigman2/quotes/204115574/composite DDD -8.32% , Materialise NV /zigman2/quotes/208853631/composite MTLS -5.27% , Organovo Holdings, Inc. /zigman2/quotes/206158190/composite ONVO -3.79% , Renishaw plc (lon:RSW), Envisiontec, Inc., EOS GmbH and General Electric /zigman2/quotes/208495069/composite GE -1.98% .
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled "3D Printing Medical Device Market - Global Demand Analysis & Opportunity Outlook 2026", analyses the overall 3D printing medical device industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global 3D printing medical device market in the near future.
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