Global 3D Printing Medical Devices Market 2015-2020: Market to Grow at a CAGR of 25.3%, to Reach USD 2.13 Billion
DUBLIN, Sept. 16, 2015 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/v2nnvv/3d_printing) has announced the addition of the "3D Printing Medical Devices Market by Component , Technology & by Medical Products - Global Forecast to 2020" report to their offering.
The market is poised to grow at a CAGR of 25.3% from 2015 to 2020, to reach USD 2.13 Billion by 2020. A number of factors such as continuous technological advancements in 3D printing, increasing application of 3D printing in the medical and dental industries, and rising government and private investments to develop advanced 3D printing technologies and products are propelling the growth of the global 3D printing medical devices market.
On the basis of technology, the 3D printing medical devices market is divided into electron beam melting (EBM), laser beam melting (LBM), photopolymerization, droplet deposition (DD) or extrusion-based technologies, and three-dimensional printing (3DP) or adhesion bonding. The laser beam melting (LBM) technology segment is further subsegmented into direct metal laser sintering (DMLS), selective laser melting (SLM), selective laser sintering (SLS), and LaserCUSING.
The photopolymerization technology segment is divided into digital light processing, stereolithography, and two-photon polymerization. The droplet deposition (DD) technology segment is further segmented into low-temperature deposition manufacturing (LDM), multiphase jet solidification (MJS), and fused deposition modeling (FDM). The laser beam melting technology segment is expected to grow at the highest CAGR of 27.7% during the forecast period, owing to the rising adoption of this technology for the development of prototype and medical implants.
On the basis of component, the global 3D printing medical devices market is segmented into three broad categories, namely, 3D printing equipment, materials, and services & software. The 3D printing equipment segment is further classified into 3D printers and 3D bioprinters; while, the materials segment is further categorized into plastics (thermoplastics and photopolymers), metal and metal alloy powders, biomaterials, and others (comprising ceramic, nylon, paper, and wax).
On the basis of type of medical product, the global 3D printing medical devices market is segmented into surgical guides (dental guides, craniomaxillofacial (CMF) guides, and orthopedic implants), surgical instruments (retractors, scalpels, and surgical fasteners), prosthetics and implants (standard implants and custom implants), and tissue engineering products (bone & cartilage scaffolds and ligament & tendon scaffolds).
However, stringent regulatory guidelines for the approval of 3D-printed medical devices, high cost of 3D printing systems and 3D-printed organs & tissues, and dearth of skilled professionals are some of the key factors restraining the growth of this market. Challenges associated with the process control and understanding of 3D printing technique also limit the demand of 3D printing solutions.
On the basis of region, this market is classified into four regions, namely, North America (U.S. and Canada), Europe (Germany, France, U.K., and Rest of Europe), Asia-Pacific (China, India, Japan, and Rest of Asia-Pacific), and the Rest of the World. As of 2015, the global 3D printing medical devices market is estimated to be dominated by North America. A number of factors such as increasing government initiatives to support the development of new 3D printing technologies and applications, and rising number of collaborations among manufacturers and software developers to develop advanced 3D printing solutions are driving the growth of the market in North America.
The Asia-Pacific market, on the other hand, is expected to grow at the highest CAGR of 28.2% from 2015 to 2020. This is primarily due to the increasing efforts by leading market players to expand their distribution networks in the Asian countries, rising awareness regarding the benefits of 3D printing technology, and presence of a large patient population.
Stratasys Ltd (Israel & U.S.), 3D Systems Corporation (U.S.), EnvisionTEC GmbH (Germany), EOS GmbH Electro Optical Systems (Germany), Renishaw plc (U.K.), Materialise NV (Belgium), 3T RPD, Ltd. (U.K.), Arcam AB (Sweden), Concept Laser GmbH (Germany), and Prodways (France) are the key players operating in the global 3D printing medical devices market.
For more information visit http://www.researchandmarkets.com/research/v2nnvv/3d_printing
Media Contact: Laura Wood , +353-1-481-1716, press@researchandmarkets.net
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