The global 3D printing for medical sector market size, by Technology (Electron Beam Melting, Laser Beam Melting, Droplet Deposition, and Photopolymerization), by Application (Tissue Engineering, Surgical Implants, Healthcare Wearable Devices, and Others (Drug testing and Anatomical models)), by End User (Hospital & Clinics, Medical Industries, and Academic and Research Institutions), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was valued at US$ 542.8 Mn in 2018 and is expected to exhibit a CAGR of 11.7% over the forecast period (2020–2027). Approval and launches of novel 3D printers and frequent strategic merger and partnerships among key players is expected to significantly drive the global 3D printing for medical sector market growth over the forecast period. In June 2018, the Australian Patent Office, accepted the patent for Materialise NV’s 3D planning technologies and 3D-printed guides which enable the design of screw placements for the fit and fixation of customized implants. With the recent expansion of its portfolio of medical patents, Materialise strengthen its position in the global 3D printing for medical sector industry. In August 2018, 3D Systems Inc. launched NextDent 5100 high-speed dental 3D printer. NextDent 5100 enables dental labs and clinics to produce trays, models, surgical guides, dentures, orthodontic splints, crowns, and bridges with enhanced speed, precision, and efficiency all at a lower cost than competitive systems. Thus, the frequent launch of such technological advance 3D printers in the market is expected to drive the global 3D printing for medical sector market growth over the forecast period.
Browse 26 Market Data Tables and 29 Figures spread through 150 Pages and in-depth TOC on Global 3D Printing for Medical Sector Market, by Technology (Electron Beam Melting, Laser Beam Melting, Droplet Deposition, and Photopolymerization), by Application (Tissue Engineering, Surgical Implants, Healthcare Wearable Devices, and Others (Drug testing and Anatomical models)), by End User (Hospital & Clinics, Medical Industries, and Academic and Research Institutions), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2027
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Key players in the market are adopting inorganic growth strategies such as partnership, merger and acquisition in order to develop, commercialize and distribute novel 3D digital printers. For instance, in November, 2017, Materialise NV, a Belgium-based provider of 3D printing services and software solutions and Siemens Healthineers, a Germany-based medical technology company, partnered and joined their forces to bring Materialise Mimics inPrint software to hospitals around the world. Such inorganic growth strategies adopted by key players is expected to create and lucrative environment for global 3D printing for medical sector market growth. Furthermore, key players in the market are involved in penetrating potential regions by establishing their own facilities in the regions. For instance, in October 2017, Materialise NV established a new facility at their headquarters in Leuven, following the inauguration of their new office in Poland in September 2017. The new buildings will expand production capacity, as well as increase office space. Penetration of key players in new region is expected to increase the access of novel 3D printers and drive global 3D printing for medical sector market growth over the forecast period.
Key Takeaways of the Global 3D Printing for Medical Sector Market:
- The global 3D printing for medical sector market is expected to exhibit a CAGR of 11.7% over the forecast period (2020 – 2027), owing to frequent approval and launch of technological advance 3D printers for medical sector
- Key players are involved in strategic partnership and collaborations for development of novel 3D printers. For instance, in April 2019, Fluidda and Materialise announced partnership to develop personalized 3D printing solutions for lung patients.
- The U.S. 3D printing for medical sector is expected to be most lucrative market, owing to rising healthcare expenditure and high adoption of technologically advanced products in the region.
- Major players operating in the global 3D Printing for Medical Sector market include EnvisionTEC, Inc., Arcam AB, 3D Systems, Inc., Eos GmbH, Electro Optical Systems, Renishaw PLC, Stratasys Inc., Materialise NV, Organovo Holdings, Inc., 3T RPD, Ltd.
