Portland, OR, June 10, 2019 (GLOBE NEWSWIRE) -- According to the report, the global 3D printing healthcare market accounted for $579.0 million in 2014 and is projected to reach $2.32 billion by 2020, registering a CAGR of 26.2% during the forecast period.
Rapid technological advancements in 3D printing, augmented R&D investment, and rise in consumer base are the major drivers of the global 3D printing healthcare market. However, high cost associated with printers, copyright & patent infringement concerns, biocompatibility issues of 3D printed medical devices, and limited technical expertise hamper the market growth. On the contrary, collaboration between academic institutions and companies to accelerate the process of product development are expected to create lucrative opportunities in the near future.
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The global 3D printing healthcare market is divided on the basis of technology, component, application, end users, and geography. Based on technology, the market is divided into droplet deposition (DD), photopolymerization, laser beam melting, electronic beam melting (EBM), and laminated object manufacturing. The EBM segment is projected to portray the fastest CAGR of 29.6% during the forecast period.
On the basis of component, the market is bifurcated into system/device, materials, and services. The 3D healthcare services segment is projected to manifest the fastest CAGR of 26.6% during the forecast period. On the other hand, the polymer material segment held the largest share, accounting for around half of the total market. However, the ceramics materials segment is expected to register the fastest CAGR of 32.1% during the forecast period.
Based on application, the market is categorized into external wearable devices, clinical study devices, implants, and tissue engineering. The external wearable device segment dominated the market, owing to increasing count of amputees, dental problems, and rising availability of biocompatible material. The tissue engineering application segment is expected to show the fastest CAGR of 31.7% during the study period.
On the basis of end users, the market is segmented into medical and surgical centers, pharma and biotech companies, academic institutions. The medical and surgical centers segment held the largest share, contributing two-thirds of the total market.
The global 3D printing healthcare market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market is North America segment held the largest share, contributing about two-fifths of the total market. However, the market across the Asia-Pacific region is expected to register the fastest CAGR of 29.7% through 2020.
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The report offers an in-depth analysis of the major market players such as Stratasys Ltd., 3D Systems Corporation, EnvisionTEC, SLM Solutions Group AG, Organovo Holdings, Inc., Arcam AB, Materialise NV, Oxford Performance Materials, Inc., Cyfuse Medical K.K., and Bio3D Technologies.
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