Massive unexplored market in 3D printing industry of developing economies are creating ample opportunities for the 3D printing in medical applications market to grow at a considerable rate in the coming years. Learn details of the Analysis, Size, Growth and Forecast to 2023
Increasing pressure on medical device manufacturers to develop cost-effective, innovative products have forced medical device manufacturers to use 3D printing for the development of innovative medical devices. 3D printing is a process to manufacture projects from 3D model data by using layer-by-layer build up process, to develop a three dimensional object.
It helps to provide solutions for manufacturing with lesser possessions, and with faster production cycle. It also helps to decrease material wastage, and reduces lifecycle cost.
It provides considerable saving on tooling from the traditional manufacturing technologies. It also provides the ability to reproduce vascular systems.
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Some of the factors driving the growth of 3D printing in medical applications market are increasing number of applications, rise in government and private funding, reduction in time and cost of medical procedures, rise in customized 3D printed medical products, and technological advancement in order to broaden the scope of medical applications. However, lack of skilled professionals, and problems related to material characterization and development are some of the factors restraining the growth of the 3D printing in medical applications market to some extent.
Moreover, lack of standardized equipment and process control, and strict regulatory requirement for the approval of medical devices are also inhibiting the growth of the global 3D printing in medical applications market.
Geographically, North America will be leading the global 3D printing in medical applications market in the coming years, due to technological advancement to broaden the scope of medical applications. Moreover, Europe is the fastest growing region in the global 3D printing in medical applications market.
The major reason for the fastest growth in the region is increasing government funding in 3D printing market.
Some of the companies operating in the 3D printing in medical applications market are Eos GmbH Electro Optical Systems, Materialise NV, EnvisionTEC GmbH, 3D Systems Corporation, Nanoscribe GmbH, Voxeljet Technology GmbH, and Stratasys Ltd.
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