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Report Code: LS10227
Category : Biotechnology
The global 3D printing in medical applications market is growing significantly due to increasing demand for speedy medical solutions in the industry. Massive unexplored market in 3D printing industry of developing economies are creating ample opportunities for the 3D printing in medical applications market to grow at a considerable rate in the coming years.The advanced research and development facilities by the companies are supporting the demand of the 3D printing in medical applications industry.
Increasing pressure on medical device manufacturers to develop cost-effective, innovative products have forced medical device manufacturers to use 3D printing for the development of innovative medical devices. 3D printing is a process to manufacture projects from 3D model data by using layer-by-layer build up process, to develop a three dimensional object. It helps to provide solutions for manufacturing with lesser possessions, and with faster production cycle. It also helps to decrease material wastage, and reduces lifecycle cost. It provides considerable saving on tooling from the traditional manufacturing technologies. It also provides the ability to reproduce vascular systems.
On the basis of applications, the 3D printing market can be categorized as medical implants, bioengineering, surgical guides and surgical instruments. The medical implant segment is expected to grow at the fastest rate among all applications in the coming years. Medical implants are further segmented as dental implants, orthopedic implants and cranio-maxillofacial implants. Moreover, medical guides are further segmented as orthopedic surgical guide, dental surgical guide and cranio-maxillofacial surgical guide. On the basis of technology of 3D printing in medical applications, the market can be categorized as electron beam melting, photopolymerization, laser beam melting, and droplet deposition manufacturing.
The 3D printing in medical applications market can be categorized on the basis of raw material as biological cells, ceramics, metals, and polymers. In terms of technology, laser beam melting and photopolymerization lead the 3D printing in medical applications market, as it is more precise and competent for manufacturing of variety of bio-models.
Some of the factors driving the growth of 3D printing in medical applications market are increasing number of applications, rise in government and private funding, reduction in time and cost of medical procedures, rise in customized 3D printed medical products, and technological advancement in order to broaden the scope of medical applications. However, lack of skilled professionals, and problems related to material characterization and development are some of the factors restraining the growth of the 3D printing in medical applications market to some extent. Moreover, lack of standardized equipment and process control, and strict regulatory requirement for the approval of medical devices are also inhibiting the growth of the global 3D printing in medical applications market.
Geographically, North America will be leading the global 3D printing in medical applications market in the coming years, due to technological advancement to broaden the scope of medical applications. Moreover, Europe is the fastest growing region in the global 3D printing in medical applications market. The major reason for the fastest growth in the region is increasing government funding in 3D printing market.
Some of the companies operating in the 3D printing in medical applications market are Eos GmbH Electro Optical Systems, Materialise NV, EnvisionTEC GmbH, 3D Systems Corporation, Nanoscribe GmbH, Voxeljet Technology GmbH, and Stratasys Ltd.