A stew of medium and small scale industries have barged into the global 3D printing medical devices market, making it a high competition amongst the players, notices Transparency Market Research in a newly published report. In order to fortify a strong foothold, organizations are trying to collaborate with local companies. Expansion of product portfolio, product differentiation, accompanied with deep research are the other things that the players are focusing on in order to build their brand name. Some of the key players in the global 3D printing medical device market are Materialise NC, SLM Solutions, Arcam Ab, FabRx Ltd., Cyfuse Biomedical K.K., Concept Laser, 3D Systems Inc., Envision Tec, and Organovo Holdings.
On the basis of component the market is classified
into material, printer, software and services. Amongst these the software and
services accounted for the highest share and is expected to continue so during
the forecast period. This is because of the installed printers which requires
maintenance and services overtime, is bolstering the market growth.
Geographically, the North America holds the largest share in term of revenue
and is expected to continue so in future.
It is anticipated that the global 3D printing devices market
to be worth around US$3513.o mn in terms of revenue by 2025 from revenue worth
of US$713.3 mn accounted in 2016. During the assessed period, the market is
anticipated to expand at 17.7% of CAGR.
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Technological Advancement in 3D Printing Medical Devices
Is Expected To Drive the Global Market
Tremendous technological advancement happening in the 3D
printing sector after the arrival of this concept is pushing the global 3D
printing market to perform better. This is because the 3D printing sector finds
its abundant usage in healthcare sector apart from construction, military and
automobile sector. The 3D printing medical device has recently gained
popularity among the patients. It has gained the trust of both doctors and
patients, thus fueling the market growth. Rise in need 3D printing medical
device for implants, surgical instruments, tissue fabrication, surgical
instruments, and prosthetics has increased the demand for these device.
High Initial Cost To Deter the Market Growth
Thought the 3D global medical device is expected to grow at
a steep rate, but strict regulations in various countries regarding the sale of
these devices imposed by both private and government agencies is expected to
deter the market growth rate. The market is also challenged by the high initial
cost of such devices. Other factors such as heavy funds required for a small
organization to have a strong foothold in the market is curbing the growth
rate. Another major factor which is expected to bring down the growth rate of
the market is absence of skilled expertise and the lack of accessibility of
such advanced device in the rural or underdeveloped region. Though the inflow
funds by leading player for research and development is expected to attract the
consumer at a faster rate.
The study presented here is based on a report by
Transparency Market Research (TMR), titled, “3D Printing Medical Device Market
(Component - Printers, Materials, and Software and Services; Technology -
Electron Beam Melting, Selective Laser Melting, Selective Laser Sintering,
Photo polymerization, and Direct Metal Laser Sintering; Application -
Orthopedic and Cranial Implant, Dental Restorations, Surgical Instruments,
Tissue Fabrication, and External Prosthesis) - Global Industry Analysis, Size,
Share, Growth, Trends and Forecast, 2017 - 2025”.
Leading segments of
the global 3D printing medical device market:
3D Printing Medical
Device Market, by Component
- Printers
- Materials
- Software
& Services
3D Printing Medical
Device Market, by Technology
- Electron
Beam Melting
- Selective
Laser Melting
- Selective
Laser Sintering
- Photo
polymerization
- Direct
Metal Laser Sintering
- Others
3D Printing Medical
Device Market, by Application
- Orthopedics
& Cranial Implants
- Dental
Restorations
- Surgical
Instruments
- Others
(Tissue Fabrication, External Prosthesis)
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