The 3D Printing Medical Devices market is projected to reach USD 5.1 billion by 2026 from USD 2.4 billion in 2021, at a CAGR of 16.3% during the forecast period. Growth in this market is primarily driven by technological advancements towards the development of biocompatible materials; increased funding, research grants, and public-private investments; and growing government initiatives to improve healthcare infrastructure of hospitals; However, the lack of skilled technicians is expected to limit market growth in the coming years. Complex regulatory frameworks that delay the approval of new 3D Printing Medical Devices are also expected to challenge market growth to a certain extent.
The competitive landscape includes the analysis of the key growth strategies adopted by major players between 2017–2020 to expand their global presence and increase their market shares in the 3D Printing Medical Devices market. The key growth strategies adopted by the top players in the market include product launches and approvals, agreements, expansions, and acquisitions. Acquisitions were the most widely adopted growth strategies by market players in the last three years to garner a larger share of the market. In 2020, the 3D Printing Medical Devices market was dominated by Stratasys Ltd. (US & Israel), 3D Systems Corporation (US), GE Additive (US), Materialise NV (Belgium), Renishaw plc (UK), SLM Solutions Group AG (Germany)
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Stratasys Ltd. (US) has a wide range of product offerings in the 3D Printing Medical Devices market, including equipments, materials, software and services. The company sustains its key position in the global 3D printing medical devices market owing to its multiple strategic acquisition Stratasys Ltd. has a strong product portfolio, supporting around medical OEMs, hospitals and specialty clinics worldwide. The company is focused on innovations and improving the quality of its products with increasing investment in its R&D department. Stratasys Ltd. global footprint allows it to cater to a customer base across North America, Latin America, Europe, Middle East & Africa, and Asia Pacific.
3D Systems Corporation (US): 3D Systems Corporation is one of the leading players in the global 3D Printing Medical Devices market. Its broad portfolio including desktop 3D printers, print materials, cloud-sourced custom parts, and 3D digital design and fabrication solutions. The company focused on organic strategies such as product launches and introduced many new and advanced 3D printing solutions to support healthcare industry.
3D Printing Medical Devices Market by Component (3D Printer, 3D Bioprinter, Material, Software, Service), Technology (EBM, DMLS, SLS, SLA, DLP, Polyjet), Application (Surgical Guides, Prosthetics, Implants), User (Hospital, ASCs) - Global Forecast to 2026
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