Global 3D Printing Medical Devices Market to Grow High in Next Five Years: Reports Markets and Markets
FREMONT, CA: The global 3D printing medical devices market is estimated to grow at a CAGR of 25.3 percent from 2015 to 2020, reports Markets and Markets.
The report of the 3D printing medical devices market from Markets and Markets has been segmented on the basis of component (covering 3D printing equipment, materials, and services & software), technology (including electron beam melting (EBM), laser beam melting (LBM), photo polymerization, droplet deposition (DD) or extrusion-based technologies, and three dimensional printing (3DP) or adhesion bonding), medical product (including surgical guides, surgical instruments, prosthetics and implants, and tissue engineering products), and region (North America, Europe, Asia-Pacific, and the Rest of the World).
The key factors for 3D printing adoption growth
Continuous technological advancements in 3D printing, rising government financial support to develop novel healthcare applications of 3D printing technology, ability to develop customized medical products using 3D printing technology, and growing acceptance of 3D-printed organs in organ transplantation surgeries are some of the reasons for the increased adoption. The rising demand of organ transplantation, strong mergers and acquisitions, and expiry of key patents are offering new growth opportunities for manufacturers and distributors of 3D printing solutions.
3D printing plays a key role in service industry as well
According to the report, the services and software component segment is estimated to account for the largest share of the global 3D printing medical devices market. This is attributed to the increased acceptance and application of 3D printing in medical and dental industries and development of advanced software to produce 3D models.
Asia-Pacific dominates the 3D printing market for next five years
The report notes that Asia-Pacific region will witness the highest growth potential for companies engaged in the development and distribution of 3D printing solutions. The market will grow with the highest CAGR in the next five years. Factors such as the presence of a large patient population, expansion of the distribution networks, rising awareness regarding the benefits of 3D printing technology in the emerging Asian countries, and establishment of novel 3D printing research and training centers are propelling the growth of the 3D printing medical devices market in the Asia-Pacific region.
Major Vendors in 3D printing Market
The report reveals Stratasys Ltd. (Israel & U.S.), EnvisionTEC GmbH (Germany) and Materialise NV (Belgium) as leading market players along with other companies including 3D Systems Corporation (U.S.), EOS GmbH Electro Optical Systems (Germany), Renishaw plc (U.K.), Materialise NV (Belgium), 3T RPD, Ltd. (U.K.), Arcam AB (Sweden), Concept Laser GmbH (Germany), and Prodways (France).