3D Printing in Medical Application Market: Overview
According to Transparency Market Research’s latest report on the global 3D printing in medical application market for the historical period 2017–2019 and forecast period 2021–2028, increase in demand for customized 3D printing in medical applications is projected to drive the global 3D printing in medical application market during the forecast period.
Increase in Demand for Customized 3D Printing to Accelerate Market Growth: Key Driver
Rise in trend of customized 3D printed medical products and increase in the number of medical applications are expected to boost the growth of the global 3D printing in medical application market over the next few years.
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Increase in trend of customized 3D printed medical products and high funding from government and private organizations are likely to accelerate market growth over the next few years.
3D printing is used to create new surgical cutting and drill guides, prosthetics, and patient-specific replicas of bones, organs, and blood vessels. Recent 3D printing advancements in healthcare have resulted in lighter, stronger, and safer products, as well as shorter lead times and lower costs.
Creating Patient-specific Organ Replicas to Drive Market
3D printing is used to create patient-specific organ replicas that surgeons can use to practice on before performing complex operations. This technique expedites procedures while minimizing patient trauma.
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This type of procedure has been used successfully in surgeries ranging from a full-face transplant to spinal procedures, and has become more common. Moreover, the market is projected to be propelled by a technological revolution in 3D printing in medical applications.
Usage of 3D printing in medicine can provide numerous advantages, including customization and personalization of medical products, drugs, and equipment; cost-effectiveness, increased productivity, democratization of design & manufacturing, and improved collaboration.
Shortage of Skilled Workforce Due to Limited Specialized Training in Additive Manufacturing
Skilled workforce is one of the most significant barriers to the adoption of additive manufacturing or 3D printing. Limited resource pool is available for staff who are well versed in 3D printing processes, which is exacerbated by the rapid pace of evolution of the 3D printing medical devices market in terms of technology and materials.
There is a shortage of additive manufacturing training programs, and a wide gap exists between academia and practical applications in the industry that is difficult to bridge. Lack of a workforce with a thorough understanding of the design process and production cycle in additive manufacturing has an impact on the final product’s quality.
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3D Printing in Medical Application Market: Competition Landscape
This report profiles major players in the global 3D printing in medical application market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
The global 3D printing in medical application market is highly fragmented, with the presence of a large number of international as well as regional players
Leading players operating in the global 3D printing in medical application market are
- Nanoscribe GmbH
- 3D Systems Corporation
- EnvisionTEC GmbH
- Voxeljet Technology GmbH
- Stratasys Ltd.
- Materialise NV, among others
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