3D Printing Medical Devices Market worth USD 5.1 billion : Growing Applications of 3D Printing

 What This Report Will Provide?

This study involved the extensive use of both primary and secondary sources. The research process involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, fundamental market dynamics, and key player strategies.

Expected Revenue Growth:

[497 Pages Report] The 3D Printing Medical Devices market is projected to reach USD 5.1 billion by 2026 from USD 2.4 billion in 2021, at a CAGR of 16.3% during the forecast period.

Major Growth Boosters:

Increasing public-private funding for 3D printing activities, high incidence of dental and orthopedic diseases, easy development of customized medical products using 3D printing, growing applications of 3D printing in the healthcare industry, availability of advanced 3D printing materials for dental and medical applications, and the increasing demand for 3D-printed products in the cosmetics and pharmaceutical industries, are the key factors supporting the growth of the market.

COVID-19 Impact on the global 3D Printing Medical Devices market

As a result of the pandemic, during March 2020 and throughout the second quarter of 2020, access to customers to sell and implement the 3D Printing Medical Devices diminished as hospitals became primarily focused on the COVID-19 pandemic. The pandemic has led to a significant increase in the demand for ventilators. The closure of manufacturing facilities due to lockdowns and disrupted supply chains slightly impacted the growth of the 3D Printing Medical Devices market at the regional level in 2020.

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Driver: Increasing public-private funding for 3D printing activities

In recent years, there has been a significant increase in public-private funding to support various initiatives in the 3D printing industry. Such research and funding activities are expected to boost the development of 3D printing products and technologies, thereby driving the growth of the 3D printing medical devices market.

Regional Growth Analysis:

The report covers the 3D Printing Medical Devices market across five major geographies, namely, Europe, North America, Asia Pacific, Latin America, and MEA. North America commanded the largest share of the 3D Printing Medical Devices market in 2020. Market growth is mainly attributed to the strong base of healthcare facilities, especially hospitals and diagnostic imaging centers, and the growing installation base for 3D printer in healthcare facilities.

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Recent Developments

• In April 2021, 3D Systems (US) introduced launched titanium- and nylon-made patient-specific VSP Hybrid Guides for maxillofacial procedures
• In March 2021, Stratasys Ltd. (US) Introduced the J5 DentaJet 3D Printer PolyJet printer for dental laboratories
• In February 2021, Desktop Metal, Inc. (US) acquired EnvisionTEC (Germany). This acquisition will strengthen the company’s existing client base of 3D Printing Medical Devices