3D printing is the process of creating a physical object from three dimensional digital objects by depositing successive layers of a material. Previously, subtractive method was used in manufacturing, in which the object is created by drilling or cutting the base material. However, in 3D printing, the object is created by layer-by-layer addition of the material. Therefore, this technology is called a subset of additive manufacturing. The objective of this report is to study the demand for this technology in medical applications and to know its potential growth. The report also focuses on the raw materials utilized in this technology.
The major factors driving this market are technological advancements and rise in trend of patient-specific products. Additionally, the financial support from government as well as private bodies is also aiding the growth of this market. However, material development and need of highly trained labor is limiting the growth of this market. The increasing adoption of this technology in various medical applications and the market in emerging nations would provide growth opportunities to this market.
3D Printing in Medical Applications Market Analysis by Applications
On the basis of applications, this market can be classified into medical implants, bioengineering products, surgical guides and surgical instruments. The dental and orthopedic medical implants hold the largest share in this segment. However, with immense focus on advancements in bioengineering, this segment is expected to have an increase in the share of bioengineered products.
3D Printing in Medical Applications Market Analysis by Raw Materials
On the basis of raw materials used, this market can be classified into polymers, ceramics, metals and biological cells. Presently, polymers are the most preferred raw materials due to their availability and compatible characteristics. However, the medical applications are focusing on development of biological cells to obtain perfect results.
3D Printing in Medical Applications Market Analysis by Technology
On the basis of technology used, this market can be classified into electron beam melting, laser beam melting, photo polymerization and droplet deposition manufacturing. Photo polymerization is the commonly used technology due to the efficiency in results. However, other technologies are also gaining market due to the varied benefits they provide.
3D Printing in Medical Applications Market Analysis by Geography
Based on geography, this market can be classified into North America, Europe, Asia-Pacific and LAMEA. Presently, North America is leading the market due to expertise and substantial investment in research and development of this technology. The emerging nations of Asia-Pacific region are expected to grow due to technological advancements. Latin America and Middle-East are also focusing on research and development and are adopting novel technologies.
The key companies profiled include 3D Systems Corporation, Eos GmbH Electro Optical Systems, Nanoscribe GmbH, EnvisionTEC GmbH and Stratasys Ltd. These companies are focusing on utilization of biological cells as raw materials for 3D printing technology in medical applications.
High Level Analysis
The report deals with the 3D printing in medical applications market and provides an in-depth knowledge of overall market scenario. In this report, the market drivers and restrains are strategically analyzed to help the stakeholders in taking critical decisions. The industrial scenario is describes using porter’s five forces model, which analyzes various components such as bargaining power of the buyers and suppliers, threat of substitutes, industrial rivalry and threats faced by new entrants. The bargaining power of buyers is high in this market due to the availability of numerous suppliers. Although application of this technology in healthcare requires intensive capital, the increasing number of players in this market is raising the level of competition in this industry.
- Projections are made for the period by considering current market scenario and future potential
- Market intelligence from key market segments through top investment pockets would help in providing strategic assistance to decision markers
- Analysis of key market players and strategies adopted by them are dealt to give an insight on top contenders in the market
- The report explains the factors which would drive the market in coming years and also those factors which may limit the growth of this market
- The industrial scenario is explained using Porter’s five forces model, which would help in formulating new strategies
3D Printing in Medical Applications Market Report Highlights
Key Market Players
Arkema, Markforged, EnvisionTEC, Formlabs, Materialise, Stratasys, Organovo, Struktur, Siemens, 3D Systems