Global 3D Printing Medical Device Market: Snapshot
3D printing or an additive manufacturing is a process that uses a layer by layer method approach to create a real or physical object from a digital design. The technology is still in its early stage in healthcare and holds strong potential for a wide variety of medical applications. The global market for 3D printing medical devices has witnessed massive advancements in the past few years and several new 3D printing technologies, materials, and devices have entered the global marketplace.
The market has also seen a vast rise in its application areas in the recent years and continues to expand at a healthy rate. The market is also driven by the vast technological advancement in witnessed in the medical industry in the recent years. In addition, strategic investments done by leading players in the market have also increased the demand for the 3D printing medical devices. Also, 3D printed prosthetics and implants, dental restorations, surgical instruments, and tissue fabrication are in great demand.
The global 3D printing medical device market was valued at US$823.0 mn in 2016 and is anticipated to expand at a CAGR of 17.7% from 2017 to 2025.
Software and Services to Gain Increased Demand
By component, the global 3D printing medical device market is segmented into printer, material, software and services. Of these, the segment of software and services contributed the largest share to the global market in 2016 and is anticipated to grow at a decent compound annual growth rate during forecast period owing to increased support and maintenance services provided by this segment. This is the result of already installed printers in the market, and to provide installation services, support and maintenance of these printers, there is a growing demand for software and services segment. Over the forecast period, the materials segment is anticipated to grow at a prominent rate.
North America to Remain Leading Force in Global 3D Printing Medical Device Market
Geographically, the 3D printing medical device market by region has been segmented into North America, Europe, Asia Pacific, Middle East and Africa and South America. In 2016, North America occupied the largest share of the market globally. The vast technological advancement in the region’s medical industry is a key driving factor for the strong growth of the market across North America. Moreover, research and development initiatives by US government and the presence of some of the world’s leading players are also anticipated to offer prominent opportunities for the growth of the 3D printing medical device market in forthcoming years. Moreover, the developing countries such as Canada and others in this geography are undergoing transformation in terms of investments by market players, which is complementing the growth of 3D printing medical device market.
Asia Pacific is expected to observe strong growth in the adoption of 3D-printed medical devices during the forecast period. This growth is majorly expected to stem from the South East Asian region. In South East Asia, application of 3D printing medical device has significantly increased due to increasing adaption rate for 3D printing medical device. Apart from this, the growing demand for 3D printing medical devices due to increasing population from countries such as China, Japan and India has also triggered the demand for 3D printing medical device.
Some of the leading companies in global 3D printing medical device market Arcam AB, 3D Systems Inc., Organovo Holdings, SLM Solutions Group AG, Cyfuse Biomedical K.K., EOS GmbH Electro Optical Systems, EnvisonTec, FabRx Ltd.,Materialise NV, and Concept Laser.
Global 3D Printing Medical Device Market: Overview
This report provides an analysis of the global 3D printing medical device market for the period of 2015 to 2025, wherein the period from 2017 to 2025 comprises the forecast period and 2016 is the base year. Data for 2015 is provided as historical information. The report covers all the major trends and technologies playing a major role in the growth of the 3D printing medical device market over the forecast period. It also highlights various drivers, restraints and opportunities expected to influence the market’s growth during the said period. The study provides a holistic perspective on the market’s growth in terms of revenue in US$ Mn, across different geographical regions namely North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
3D printing or an additive manufacturing is a process that creates a real or physical object from a digital design. 3D printing uses a layer by layer method approach to print the 3D objects. It can make physical structure of objects designed with a CAD program or scanned with a 3D Scanner. It has wide applications in aerospace, automotive, dental and medical healthcare, jewelry, architecture and so on.
Global 3D Printing Medical Device Market: Scope of the Report
The market overview section of the report showcases the market dynamics and trends such as the drivers, restraints and opportunities that influence the current nature and future status of this market. The report also provides value chain analysis and key market indicators for the 3D printing medical device market. The 3D printing medical device market estimates are the result of our in-depth secondary research, primary interviews and in-house expert panel reviews. These market estimates have been analyzed by taking into account the impact of different political, social, economic, technological and legal factors along with the current market dynamics affecting the market growth.
Global 3D Printing Medical Device Market: Segmentation
The global 3D printing medical device market is segmented on the basis of component, technology and application. By component, the global 3D printing medical device market is bifurcated into printer, material, software & services. Further, the technology segmentation includes electron beam melting, selective laser melting, selective laser sintering, photopolymerization, direct metal laser sintering and others On the basis of application the 3D printing medical device market is segmented into orthopedic & cranial implant, dental restorations, surgical instruments and others (tissue fabrication & external prosthesis). 3D printing medical device market is also segmented on the basis of regions into North America, South America, Europe, Asia Pacific, and Middle East & Africa. The report covers the analysis of these segments across all geographies, along with qualitative analysis for key market indicators supplementing the growth of 3D printing medical device market during the forecast period.
Global 3D Printing Medical Device Market: Competitive Dynamics
The report also includes competitive profiling of the key players associated with the 3D printing medical device market around the globe. The important business strategies adopted by them, their market positioning, financials, SWOT analysis and recent developments have also been identified in the research report. The competitive landscape section of the report also gives an overview about the major contributing regions/countries by these key players in order to strengthen their market position in the future.
Technology advancement and rising medical application in 3D printing across emerging economies, are forcing companies to develop 3D printing medical device to continue the profitability of the market. Some of the major players in global 3D printing medical device market are Arcam AB, 3D Systems Inc., Organovo Holdings, SLM Solutions Group AG, Cyfuse Biomedical K.K., EOS GmbH Electro Optical Systems, EnvisonTec, FabRx Ltd., Materialise NV, and Concept Laser. Details such as financials, business strategies, SWOT analysis, recent developments, and other such strategic information pertaining to these players has been duly provided as part of company profiling.
3D Printing Medical Device Market, by Component
- Software & Services
3D Printing Medical Device Market, by Technology
- Electron Beam Melting
- Selective Laser Melting
- Selective Laser Sintering
- Direct Metal Laser Sintering
3D Printing Medical Device Market, by Application
- Orthopedics & Cranial Implants
- Dental Restorations
- Surgical Instruments
- Others (Tissue Fabrication, External Prosthesis)
In addition, the report provides analysis of the 3D Printing Medical Device Market with respect to the following geographic segments:
- North America
- The U.S.
- Rest of North America
- The U.K.
- Rest of Europe
- Asia Pacific (APAC)
- Rest of APAC
- Middle East and Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA
- South America
- Rest of South America