Northrook, IL -- (SBWIRE) -- 12/06/2019 -- Major factors driving the growth of this industry are Technological advancements, increasing public-private funding, easy development of customized medical products, and growing applications in the healthcare industry. Moreover, direct digital manufacturing, the expiry of key patents in the coming years, and the growing demand for organ transplants provide significant growth opportunities in the industry.

What the Market Looks Like?

Predicted to grow at a CAGR of 17.5% during the forecast period, the global 3D Printing Medical Devices Market is estimated to reach $1.88 Billion by the end of 2022

On the basis of component, the overall market is segmented into three broad categories, namely, equipment, materials, and software & services. The software & services market is estimated to command the largest share of the market in 2017. Increasing the development of advanced software solutions to manufacturing high-quality 3D-printed medical products is the key factor driving the growth of the services and software segment.

Based on technology, the market is segmented into suture 3D printing medical devices, electron beam melting (EBM), laser beam melting (LBM), photopolymerization, droplet deposition or extrusion-based technologies, PolyJet technology, and three-dimensional printing (3DP) or adhesion bonding or binder jetting.

On the basis of type, the overall market is segmented into surgical guides, surgical instruments, prosthetics & implants, and tissue engineering products. The surgical guides segment is expected to account for the largest share of the market in 2017. 3D printing surgical guides as a part of surgical planning can significantly improve the precision of implant placement and provide accurate implant restorations.

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What Drives the Market?

The growth of the global market for 3D Printing Medical Devices is primarily influenced by the following factors:

- Technological Advancements in 3D Printing
- Increasing Public-Private Funding for 3D Printing Activities
- Easy Development of Customized Medical Products Using 3D Printing
- Growing Applications of 3D Printing in the Healthcare Industry

Geographical growth scenario of 3D Printing Medical Devices Market;

Geographically, the market is dominated by North America, followed by Europe, Asia Pacific, and the Rest of the World. North America is expected to dominate the market in 2017. As of 2017, the Asia Pacific market is expected to grow at the highest CAGR during the forecast period. The establishment of new 3D printing research, training, and education centers, and rising efforts by leading market players for expanding their distribution networks in emerging Asian countries are factors propelling the growth of the market in the Asia Pacific.

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Leading market players and strategies adopted;

The prominent players in the 3D Printing Medical Devices market include Stratasys, Ltd. (Israel & U.S.), 3D Systems Corporation (U.S.), EnvisionTEC GmbH (Germany), Materialise NV (Belgium), EOS GmbH (Germany), Arcam AB (Sweden), Concept Laser GmbH (Germany), Renishaw plc (U.K.), Prodways Group (France), and 3T RPD Ltd. (U.K.).

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