(PharmaNewsWire.Com, August 10, 2021 ) The Key Growth Elements in Detailed?
The Increasing public-private funding for 3D printing activities, high incidence of dental and orthopedic diseases, easy development of customized medical products using 3D printing, growing applications of 3D printing in the healthcare industry, availability of advanced 3D printing materials for dental and medical applications, and the increasing demand for 3D-printed products in the cosmetics and pharmaceutical industries, are the key factors supporting the growth of the market.
Worldwide Growth Opportunities in Terms of Revenue:
The 3D Printing Medical Devices Market is projected to reach USD 5.1 billion by 2026 from USD 2.4 billion in 2021, at a CAGR of 16.3% during the forecast period.
Opportunity: Direct digital manufacturing;
The digitization of dentistry and medical procedures has advanced immensely over the years, with the intention of improving the clinical workflow through the incorporation of technology. The industry is experiencing a shift from traditional to digital dentistry and surgeries. Direct digital manufacturing involves the application of computer-controlled processes for developing a physical object directly from a digital design. With advancements in 3D printing, direct digital manufacturing is becoming a widely used technology as compared to traditional manufacturing techniques. It offers a unique set of advantages as it eliminates the investment in tooling, reduces the lag time between designing and production, and increases production.
The Software and Services segment dominated the global 3D Printing Medical Devices Market.
Based on the component, segmented into equipment, materials, and software & services. The software & services dominated the 3D Printing Medical Devices market in 2020. The cost-effectiveness, utility, uniformity, and accuracy offered by services for medical device 3D printing, is expected to fuels the growth of this segment during the forecast period.
The North America, comprising the US and Canada, accounted for the largest share of the 3D Printing Medical Devices market in 2020. Increasing number of vendors manufacturing 3D Printing Medical Devices and a growing number of approvals for 3D Printing Medical Devices are the major factors driving market growth in North America. Customers in North America are moving towards outsourcing for curbing manufacturing expense, which is increasing demand for 3D Printing Medical Devices. This trend will have a positive impact on the Medical Devices market.
Major Key Players Mentioned in the research report are:
Stratasys Ltd. (US & Israel), 3D Systems Corporation (US), GE Additive (US), Materialise NV (Belgium), Renishaw plc (UK), SLM Solutions Group AG (Germany), Desktop Metal, Inc. (US), Prodways Group (France), Carbon, Inc. (US), CELLINK (Sweden), Organovo Holdings, Inc. (US), EOS (Electro Optical Systems) GmbH (Germany), Biomedical Modeling, Inc. (US), Formlabs, Inc. (US), 3T Additive Manufacturing Ltd. (UK), DENTSPLY Sirona, Inc. (US), DWS Systems SRL (Italy), Roland DG (Japan), HP, Inc. (US), and regenHU (Switzerland) among others are some of the major players operating in the global 3D Printing Medical Devices market.
Stratasys Ltd. (US) has a wide range of product offerings in the Medical Devices market, including equipments, materials, software and services. The company sustains its key position in the global 3D printing medical devices market owing to its multiple strategic acquisition Stratasys Ltd. has a strong product portfolio, supporting around medical OEMs, hospitals and specialty clinics worldwide. The company is focused on innovations and improving the quality of its products with increasing investment in its R&D department. Stratasys Ltd. global footprint allows it to cater to a customer base across North America, Latin America, Europe, Middle East & Africa, and Asia Pacific.
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