3D Printing Medical Devices Market worth expected 2.13 Billion USD by 2020
The market is poised to grow at a CAGR of 25.3% from 2015 to 2020, to reach USD 2.13 Billion by 2020.
[ClickPress, Wed May 17 2017] The report “3D Printing Medical Devices Market - by Component (3D Printers, 3D Bioprinters, Materials, Services & Software), Technology (EBM, LBM, Photopolymerization, 3DP, and DD), Medical Products (Surgical Guides, Equipment, Implant) - Global Forecast to 2020”, analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Europe, Asia-Pacific, and the Rest of the World (RoW). The market is poised to grow at a CAGR of 25.3% from 2015 to 2020, to reach USD 2.13 Billion by 2020.
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On the basis of components, the global 3D printing medical devices market is segmented into 3D printing equipment, materials, and services & software. The 3D printing equipment market is further segmented into 3D printers and 3D bioprinters; while, the materials segment is further classified into plastics (thermoplastics and photopolymers), metal and metal alloy powders, biomaterials, and others (ceramic, nylon, paper, and wax).
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Based on technology, the global 3D printing medical devices market is divided into five segments, namely, electron beam melting (EBM), laser beam melting (LBM), photopolymerization, droplet deposition (DD) or extrusion-based technologies, and three-dimensional printing (3DP) or adhesion bonding. The laser beam melting (LBM) segment is further categorized into direct metal laser sintering (DMLS), selective laser melting (SLM), selective laser sintering (SLS), and LaserCUSING. Likewise, the photopolymerization segment is divided into digital light processing, stereolithography, and two-photon polymerization. The droplet deposition (DD) segment is also further categorized into low-temperature deposition manufacturing (LDM), multiphase jet solidification (MJS), and fused deposition modeling (FDM).
On the basis of medical products, the global 3D printing medical devices market is divided into surgical guides (dental guides, craniomaxillofacial (CMF) guides, and orthopedic implants), surgical instruments (retractors, scalpels, and surgical fasteners), prosthetics and implants (standard implants and custom implants), and tissue engineering products (bone & cartilage scaffolds and ligament & tendon scaffolds).
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A number of factors such as continuous technological advancements in 3D printing, rising public and private investments to develop new 3D printing technologies and applications, and growing acceptance of 3D-printed organs and implants are fueling the demand of this market. In addition, growing demand of organ transplantation, strong mergers and acquisitions to enhance market share, and expiry of key patents are offering new growth opportunities for existing market players as well as new entrants in the global 3D printing medical devices market. On the other hand, the stringent regulatory process for the approval of 3D-printed medical products and high cost of 3D-printed organs are restricting the number of end users in the global 3D printing medical devices market.
As of 2015, North America holds the largest share of the global 3D printing medical devices market, followed by Europe. However, the Asia-Pacific market is expected to grow at the highest CAGR from 2015 to 2020. 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 Asia-Pacific region. However, dearth of skilled professionals and high cost of 3D printing systems restricts its demand in the developing Asian countries.
Stratasys Ltd. (Israel & U.S.), 3D Systems Corporation (U.S.), EnvisionTEC GmbH (Germany), 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) are the key players operating in the global 3D printing medical devices market.
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