3D Printing in Medical Applications Market in 2019: Transparency Market Research

ALBANY, N.Y. - Oct. 1, 2014 - PRLog -- Transparency Market Research, in its latest research report states, the global 3D printing in medical applications market will grow significantly in the coming years. The 3D printing in medical applications market was valued at US$354.5 million in 2012. However, it is expected to reach US$965.5 million by 2019, growing at a CAGR of 15.4% from 2013 to 2019. The report “3D Printing in Medical Applications Market (Medical Implants (Dental, Orthopedic, Cranio-maxillofacial), Surgical Guides, Surgical Instruments, Bio-engineered Products) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019” is available for sale on the company’s website.

Global 3D printing in medical applications market has seen a rise in the recent years as the industry is in a perpetual need for technically sound products. 3D printing has provided the healthcare segment great solutions such as surgical instruments, bioengineered products, medical implants, and surgical guides. These solutions have thoroughly helped the medical industry in solving complex medical problems. Owing to such valuable contribution, 3D printing in medical applications market is forecasted to grow at a CAGR of 15.4% from 2013 to 2019.

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The other factors contributing growth of 3D printing in medical applications market is a huge and quick demand for cost-effective solutions to many medical problems. Despite such strong market drivers, the 3D printing in medical applications faces challenges such as volatile prices of raw material and untrained professionals to use these devices.

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The evolution of 3D printing in medical applications has helped in manufacturing surgical guides such as orthopedic, dental, and cranio-maxillofacial. This technological advancement has also made the use of surgical instruments far more efficient by enabling self-sterilizing surgical equipment. The 3D printing in medical applications uses raw materials such as biological cells, ceramic, polymer, and metal. When combined with 3D printing techniques such as an electron beam melting (EBM), droplet deposition manufacturing (DDM), laser beam melting (LBM), and photopolymerization it results in various bio-models as desired and demanded.

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According to analysts, North America held the largest market share for 3D printing in medical applications in 2012. However, in the forecasted period between 2013 and 2019, Europe is expected to the highest growth rate of 15%. This growth will be attributable to generous funding by the government, various mergers and acquisitions of companies that have better technology, and conducive reimbursement policies.

The 3D printing in medical applications market is largely held by just a few players making it oligopolistic in nature. Some of the key players profiled in the report about 3D printing in medical applications market are Stratasys Inc., 3D System, EnvisionTEC GmbH, and Materialise NV.