Wilmington, Delaware, United States, Transparency Market Research Inc. – The last decade has witnessed rapid advancements in the medical industry. One of the advancements has been the integration of 3D printing technology in different application areas such as prosthetics, production of replicas of bones and organs, and manufacture of surgical cutting and drilling products.
The replicas obtained using 3D printing technology has witnessed increased demand from surgeons who have used the product before conducting complicated operations.
Deployment of 3D printing technology in medical industry has proven beneficial in achieving increased productivity and in obtaining customized and personalized medicine products. Furthermore, cost-effective nature of 3D printing technology is triggering the demand in medical industry and contributing to market growth.
The global 3D printing in medical applications market is projected to advance at CAGR of 15.5% between 2021 and 2028.
Launch of new 3D printing products is helping leading players in gaining a competitive edge over other players and assisting in creating revenue streams.
Leading 3D printers and materials market player Envision TEC, in 2018, launched two new medical-grade materials which have been deployed to produce printing components for easy and safe implantation in human beings.
Growth strategy of signing collaborative agreements with smaller players is assisting leading 3D printing in medical applications market players in expanding their presence and increasing their revenue shares.
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Key Findings of 3D Printing in Medical Applications Market
- Rising Deployment of 3D Printing Technology to Obtain Accurate Prototypes of Medical Instruments Propelling Overall Market: 3D printing has been increasingly deployed in production of new surgical instruments. Furthermore, 3D printing has been witnessing increased demand to develop precise prototypes of medical instruments. Deployment of 3D printing technology has played a key role in accelerating manufacturing of medical products and also helped decrease expenditure for prototyping purposes. Increased demand for 3D printing technology in surgical products production is augmenting the growth in overall 3D printing in medical applications market
- Rising 3D Anatomical Model Demand Stimulating Growth in 3D Printing in Medical Applications Market: Deployment of 3D printed anatomical models in medical industry has assisted doctors in healthcare infrastructure facilities to plan, visualize, and pre-fit medical equipment. Increasing demand for 3D printed anatomical models is boosting the growth in global 3D printing in medical applications market
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3D Printing in Medical Applications Market: Key Drivers
- Rising demand for customized 3D printing in medical industry is a key growth driver of global 3D printing in medical applications market
- Rising research and development activities to produce improved products is augmenting the growth in overall 3D printing in medical applications market
- Increased funding from governments and private enterprises to leading market players in a bid to help produce improved 3D printing technology is boosting the growth in 3D printing in medical applications market
3D Printing in Medical Applications Market: Key Players
Presence of numerous prominent players has ensured that competition landscape in global 3D printing in medical applications market is fragmented. Entry of new players could further intensify the competition in global market, in future.
Some of the leading players in global 3D printing in medical applications market include 3D Systems Corporation, Materialise NV, Stratasys Ltd., EnvisionTEC GmbH, and Voxeljet Technology GmbH.
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The global 3D printing in medical applications market is segmented as follows:
By Application
- Surgical Guides
- Orthopedic
- Dental
- Cranio-maxillofacial
- Implants
- Orthopedic
By Technology
- Electron Beam Melting (EBM)
- Laser Beam Melting (LBM)
- Photopolymerization
- Stereolithography
- Two Photon Polymerization
By Raw Material
- Metals
- Polymers
- Ceramics
- Biological Cells
Regions Covered
- North America
- Latin America
- Europe
- Latin America
- Middle East & Africa
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