The 3D printing technology has revolutionized several industries by enabling non-conventional, faster, and economic manufacturing of a variety of products possible. The potential uses of this technology are being uncovered at a rapid pace across the medical industry and many revolutionary medical applications of 3D printing are expected to be uncovered in the next few years.
Transparency Market Research states that the global 3D printing for medical applications market will exhibit growth at a promising pace and will enable significant transformations in the field of healthcare in the near future. The market is expected to rise to a valuation of US$965.5 mn by 2019.
Geographically, the report examines the market for 3D printing in medical applications across regions such as North America, Europe, and Asia Pacific. Of these, the market is presently dominated by North America. The region dominates the market owing to the presence of some of the key players in the 3D printing technology in the U.S. The U.S. accounts for a significant share in the global 3D printing in medical applications market and is expected to remain the hub for future developments in the field as well. Thus, the North America 3D printing in medical applications market is expected to retain its command on the global market throughout the report’s forecast period. However, the market in Europe is expected to outpace North America owing to the rising number of 3D printing companies in the region.
Despite being a slow-growth region for several industries owing to recent economic upheavals across several countries in the past few years, the technologically advanced companies in Europe have been focusing hard on technological innovations such as 3D printing. The Europe market for 3D printing in medical applications is expected to be led by Germany, which is expected to outpace Japan in terms of growth rate in the next few years. The market is also expected to gain significant traction in Europe in the next few years owing to the favorable medical reimbursement policies and a substantial rise in funding from government bodies aimed at technological advancements.
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Some of the key companies operating in the global 3D printing for medical applications market are Nanoscribe GmbH, 3D Systems Corporation, EnvisionTEC GmbH, Voxeljet Technology GmbH, Stratasys Ltd., and Materialise NV.