$ 2.39 Billion Growth Expected in 3D Printing Medical Devices Market | COVID-19 Impact Analysis in Q1 2021| North America to Notice Maximum Growth | Technavio

NEW YORK, May 12, 2021 /PRNewswire/ -- The global 3D printing medical devices market by application (orthopedic and spinal, dental, hearing aids, and others) and geography (North America, Europe, Asia, and ROW) has been added to Technavio's offering. The global 3D printing medical devices market is expected to grow by USD 2.39 billion, at a CAGR of almost 18% during 2021-2025.

The market witnessed a slight decline in demand in 2020 due to the outbreak of COVID-19. Several market vendors were forced to manufacture PPE kits to meet the growing demands of healthcare professionals. This brought significant revenue for vendors in the 3D printing medical devices market. However, the reopening of manufacturing units in Q4 2020 coupled with the removal of restrictions is expected to have a positive influence on market growth in 2021.

The market is expected to be driven by factors such as the increased demand for personalized or customized medical devices, increasing adoption of 3D printing technology by medical professionals, and rising cost efficiency and enhanced productivity.

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3D Printing Medical Devices Market: Opportunities
Governments across the world are increasing their healthcare budgets and introducing various healthcare programs. For instance, the Ministry of Food and Drug Safety in South Korea is exploring fast-track approval options for 3D-printed medical devices. Besides, the rapid growth of the aging population and rising disposable incomes have increased the need for advanced healthcare. Many such factors are expected to create significant growth opportunities for market vendors during the forecast period.

3D Printing Medical Devices Market: Segmentation by Application
Based on the segmentation by application, the market generated maximum revenue in the orthopedic and spinal 3D printing medical devices segment in 2020. The segment is driven by the increasing adoption of 3D printing by hospitals and ambulatory surgery centers to fabricate orthopedic implants. Also, the increasing prevalence of orthopedic and spinal disorders, rising demand for patient-specific orthopedic and spinal implants, growing need for advanced surfaces and structures in the implants, and the aging population are expected to contribute to the growth of the segment during the forecast period.

3D Printing Medical Devices Market: Segmentation by Geography
North America held the largest market share in 2020 and the market growth in the region is expected to be slower compared to the growth of the market in Asia and Europe. The growth of the market in North America can be attributed to the availability of improved healthcare infrastructure, high adoption of 3D printing medical devices in healthcare facilities, and the presence of established vendors. In addition, the proliferation of vendors in the region will fuel the growth of the 3D printing medical devices market during the forecast period.

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3D Printing Medical Devices Market: Major Vendors

3D Systems Corp.
The company offers 3D printing medical devices such as ProJet 360, ProJet 460 Plus, ProJet 5500X, and ProJet 3500 HDMax.

Autodesk Inc.
The company offers productive business solutions through powerful technology products and services. The company offers 3D printing medical devices such as Fusion 360.

EnvisionTEC GmBH
The company offers a wide range of 3D printers with varying surface finishes, functionality, and speed. The company offers 3D printing medical devices such as Micro Plus CDLM, Envision One CDLM HT, Vida HD cDLM, and others.

General Electric Co.
The company offers a range of diagnostic imaging and clinical systems, life science products and services, and digital solutions. The company offers 3D printing medical devices such as Arcam EBM Q10plus.

Materialise NV
The company develops and delivers medical software solutions, medical devices, and other related products and services. The company offers 3D printing medical devices such as materialize mimic InPrint, Materialise 3 Matic Medical and others.

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Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2020
• Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

• Five Forces Summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Application

• Market segments
• Comparison by Application
• Orthopedic and spinal - Market size and forecast 2020-2025
• Dental - Market size and forecast 2020-2025
• Hearing aids - Market size and forecast 2020-2025
• Others - Market size and forecast 2020-2025
• Market opportunity by Application

Customer landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• North America - Market size and forecast 2020-2025
• Europe - Market size and forecast 2020-2025
• Asia - Market size and forecast 2020-2025
• ROW - Market size and forecast 2020-2025
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Vendor landscape
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• 3D Systems Corp.
• Autodesk Inc.
• EnvisionTEC GmBH
• Formlabs Inc.
• General Electric Co.
• Materialise NV
• Renishaw Plc
• SLM Solutions Group AG
• Stratasys Ltd.
• The ExOne Company

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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