It is predicted that the 3D printing in medical applications market will witness significant growth during the forecast period. Advanced research and development activities by the market players and rising popularity of customized 3D printed medical products are some notable factors driving the market demand. 3D printing is an advanced technology used to produce objects through fusing or depositing materials, such as metals, polymers, and ceramics in layers, resulting into 3D objects.
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Geographically, North America leads the 3D printing in medical applications market and held the largest share in 2017, mainly on account of increased research and development (R&D) investment, focused on technological innovation. Europe is predicted to be the fastest growing regional market for 3D printing in medical applications, mainly due to the growing funding by private and public organizations.
Some of the factors driving the 3D printing in medical applications market are rising public and private funding, and time and cost effectiveness of 3D printing applications over traditional manufacturing processes. The funding by several private and public bodies provides opportunities to start-ups involved in 3D printing to advance their R&D activities and explore its further application in the medical field. For instance, in April 2018, Arigin Medical Co. Ltd., a Shanghai based start-up focused on providing complete medical 3D printing solutions in the field of orthopaedics, completed its series A investment round, securing tens of millions RMB in finance. The funding was led by Proxima Ventures, Dingxin Capital and Delta Capital.
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The key players in the market are also introducing technologically advanced products to expand their product portfolio. For instance, in April 2018, EnvisionTEC GmbH announced the launch of two new medical-grade materials that make printing parts for implantation in humans, safe and easy. These medical-grade biomaterials are suitable for use in wound repair, biosensor housings, bone regeneration, and drug release.
Some of the other key players 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.
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