Global 3D Printing Medical Device Market Outlook 2027

Global 3D Printing Medical Device Market Analysis - 2018-2027

3D Printing technology has multiple applications, and the fastest-growing innovation in the medical sector has been represented by the advent of the 3D printing itself. Several medical devices are manufactured using 3D printing which include surgical instruments, orthopedic and cranial implants, external prosthetics, and dental restorations such as crowns. Manufacturers of medical devices must refer to FDA guidance documents and Quality Systems regulations for more information on specific applications. The global 3D printing medical device market is anticipated to grow at a CAGR of around 17%% during the forecast period, i.e. 2019-2026. Factors such as growing advancement in healthcare infrastructure, increasing expenditure of the government for the development of healthcare industry along with the rising demand for organ transplant amongst individuals around the globe are anticipated to contribute significantly towards the growth of the global 3D printing medical device market. Additionally, increasing utilization of 3D printing medical devices in the healthcare industry owing to the numerous benefits associated to the utilization of the devices in the industry, coupled with the increasing geriatric population around the world, which demands a greater share of organ implants, are some of the factors anticipated to drive the growth of the global 3D printing medical device market.

The global 3D printing medical device market consists of various segments that are segmented by technology, by component, by type and by region. The component segment is sub-divided into equipment, materials and software & services. Out of these, the equipment segment, which had a market value of around USD 340 million in the year 2017 is anticipated to grow with the CAGR of around 16% during the forecast period. Additionally, the software & services segment is anticipated to grow with the highest CAGR of around 19% during the forecast period.

Based on region, the global 3D printing medical device market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The Asia Pacific 3D printing medical device market, which was valued at around USD 177 million in the year 2017 is anticipated to attain an absolute $ opportunity of around USD 600 million during the assessment period by growing at the highest CAGR of around 19% during the forecast period.

Some of the affluent industry leaders in the global 3D printing medical device market are Prodways Group, Formlabs, Stratasys Ltd., 3D Systems, Inc., Materialise NV, Organovo Holdings, Inc., Renishaw plc, Envisiontec, Inc., EOS GmbH and General Electric.