"The global 3D printing medical devices market projected to grow at a CAGR of 17.5%"
The global 3D printing medical devices market is projected to reach USD 1.88 billion by 2022 from USD 0.84 billion in 2017, at a CAGR of 17.5%. Factors such as technological advancements, increasing public-private funding, easy development of customized medical products, and growing applications in the healthcare industry are expected to drive the growth of the 3D printing medical devices market. On the other hand, the stringent regulatory process and the dearth of trained professionals are factors that are expected to limit market growth to a certain extent.
"The equipment segment to register the highest growth during the forecast period"
On the basis of component, the 3D printing medical devices market is segmented into equipment, materials, and software & services. The equipment segment is expected to grow at the highest CAGR during the forecast period. Rising awareness and increasing adoption of 3D printing in a number of healthcare applications are the key factors contributing to its market growth.
"Asia-Pacific to witness the highest growth during the forecast period"
In 2017, North America is expected to account for the largest share of the global 3D printing medical devices market, while Asia-Pacific is expected to witness the highest growth during 2017 to 2022. A number of factors such 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 contributing to the growth of the 3D printing medical devices market in this regional segment.
Breakdown of primary interviews: by company type, designation, and region:
- By Company Type - Tier 1 - 35%, Tier 2 - 40% and Tier 3 - 25%
- By Designation - C-level - 30%, Director Level - 22%, Others - 50%
- By Region - North America - 37%, Europe - 32%, APAC - 26%, RoW - 9%
Some of the major market players in the 3D printing medical devices market are 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.). Product launches, agreements, and partnerships were the major strategies adopted by market players to achieve growth in the market.