Medical Device 3D Printing Market by Product type, by Material type, by Technology and by Region - Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021)
The Latin America Medical Device 3D Printing market is estimated at USD 104.38 million in 2016 and is poised to reach USD 307.07 million by 2021, growing at a CAGR of 24.12%. The technology for 3-D printing, also known as additive manufacturing, has not been proficient enough or cost-effective for most end-product or high-volume commercial manufacturing in the past two decades.
Right now expectations are running high as these shortcomings are about to change with 3D printing quite possibly being the next greatest chapter in the industrial uprising.
One of the major driving forces for growth in the Latin America medical device 3D printing industry is the rising demand for patient-specific products in orthopedics and maxillofacial surgery.
Further, with the prices of 3D models coming down and also with the availability of a broad range of material options that range from polymers to living tissue, there has been increased adoption of 3D printing for medical purposes. In addition, the latest advancements in technologies, growing awareness about the new developments, policies and funding from governments are also boosting the market growth.
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The Latin America medical device 3D printing market is categorised on the basis of product type into Prosthetics, Medical Implants, Surgical guides, Surgical Instruments and Hearing & Audibility Aid devices. On the basis of material used for manufacturing the market is segmented under Ceramics, Metal & Metal alloys, Nylon, Plastics, Biomaterials, and Wax.
It has been observed that the plastics namely, acrylonitrile butadiene styrene (ABS), and polylactic acid (PLA) along with nylon, have seen an increased usage mainly due to the comfortability and simplicity in application. Further, use of metals with high strength and resistance is expected to have fastest growth in the near future.
In addition, on the basis of technology the Latin America medical device 3D printing market is analysed under various technologies employed namely, Laser beam melting (LBM), Wax deposition Modelling, Electron Beam Melting (EBM), Droplet Deposition, and Bio Printing. Further, on the basis of geography the market is analysed under countries namely, Brazil, Argentina and Mexico.
Brazil being the largest economy and well advanced on technological front is set to be the ground for major developments in 3D printing technologies in the Latin America region.
Further, its geographical closeness to the most developed markets in North America countries can be an added advantage to this region. Stratasys Ltd., 3D Systems Corporation, Renishaw plc, EOS GmbH Electro Optical Systems, EnvisionTEC GmbH, 3T RPD, Ltd., Materialise NV, Concept Laser GmbH, Prodways and Arcam AB are some of the major companies offering diverse product portfolio in Latin America Medical Device 3D Printing market.
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Scope of the report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
- Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
- Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
- A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
- Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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