Global 3D Printing Medical Devices Market Projected to Grow at 25.3% CAGR in 2015-2020

The global 3D printing medical devices market is estimated to grow at a CAGR of 25.3% from 2015 to 2020. Although developed countries (such as the U.S., Germany, and the U.K.) hold larger shares in the 3D printing medical devices market, the Asia-Pacific region is poised to witness the highest CAGR in the coming five years. Factors such as the presence of a large patient population, increasing efforts by leading market players to expand their distribution networks, rising awareness regarding the benefits of 3D printing technology in the emerging Asian countries, and establishment of novel 3D printing research and training centers are propelling the growth of the 3D printing medical devices market in the Asia-Pacific region. In addition, growing government investments to enhance the application of 3D printing technology in various industries, including healthcare, is likely to drive the demand of 3D printing solutions in the Asia-Pacific region.

The growth of the global 3D printing medical devices market is driven by factors such as continuous technological advancements in 3D printing, rising government financial support to develop novel healthcare applications of 3D printing technology, ability to develop customized medical products using 3D printing technology, and growing acceptance of 3D-printed organs in organ transplantation surgeries. In addition, rising demand of organ transplantation, strong mergers and acquisitions, and expiry of key patents are offering new growth opportunities for manufacturers and distributors of 3D printing solutions. On the other hand, the high cost of 3D printing systems and complexity in process control and understanding of 3D printing technology are some of the key challenges faced by market players.Read more

Source: Marketwatch; image:

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