NEWARK, Del, Oct. 13, 2023 (GLOBE NEWSWIRE) -- The global market revenue for the 3D printed wearable market is anticipated to reach US$ 10,246.6 million by 2033, with a modest CAGR of 9.2% over the forecast period. The market is currently valued at US$ 4,251.7 million in 2023.
There has been substantial growth toward sustainable manufacturing in almost all industries across the world. The 3D printed wearables market, which was in its growing phases a decade ago, is now taking significant strides as the demand for customized wearables reaches its peak. To name a few, 3D printed wearables include products like sneakers and sports shoes in the footwear industry, prosthetic limbs and dental implants in the medical industry, and activewear, sweaters, and rings in the fashion industry.
Leading international companies have already started investing heavily in the development of 3D printing technologies for efficient, robust, and sustainable manufacturing processes so that they can enter this emerging market. There are many instances of these fashion brands partnering up with 3D printing manufacturing companies to come up with a manufacturing unit that caters to such consumers.
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Advancements in medtech are also one of the main drivers of this rising trend. Growing medical tourism in European countries is also a significant contributor to the 3D-printed wearables market, as there is a remarkable demand for medical supplements like prosthetic limbs, dental implants, etc. 3D-printed prosthetic limbs are not only lightweight but have the highest ability to mimic the functions of normal bones and joints in a fully functional human body.
As more people become aware of their health and lifestyle-associated diseases like diabetes and hypertension, there will be a great demand for 3D printed smartwatches and fitness trackers in the coming decades. Sports jerseys and activity trackers endorsed by fitness influencers are also one of the major drivers of the surge in global market revenue. Fashion accessories like sweaters made from fully sustainable materials are also able to attract a lot of millennial youth to the 3D printed wearable market.
“There is little to no awareness regarding the potential of 3D printing in the fashion and medical industries, as the manufacturing process is too slow and limited. With the advancements in medtech, there are very good chances that this market will change the way we design and produce wearable and medical devices,” says Sneha Verghese, Senior Consumer Goods and Products Consultant at Future Market Insights (FMI).
Key Takeaways from the 3D Printed Wearable Market Report
- The United States is the largest consumer of 3D printed wearables, with a total market share of 30.2%. It is followed by the UK, Canada, and China.
- Region-wise, North America dominates the market, capturing a total revenue share of 40%.
- On the basis of product type, the footwear segment dominates the market with a global revenue share of 27.3%.
- With the rise in e-commerce businesses across the world, online retailers have become the largest providers of 3D printed wearables, with a share of 66.1%.
- 3D-printed wearable products also find applications in the medical industry with body supplements like prosthetic limbs, dental implants, etc.
Competition Analysis
The 3D wearable market is in its growing phase with a few competitors. The demand for 3D printed wearables is growing at a decent rate as several startups are entering the market.
Key manufacturers are focusing on the development of eco-friendly products using 3D printing technology. The fashion industry is contributing to the growth of 3D printed wearables such as shoes, t-shirts, etc. The rise in sales of medical merchandise due to the pandemic is also stimulating sales of 3D printed masks, gowns, face-shields, etc.
Key Companies in the 3D Printed Wearable Market:
- DANI PELEG
- New Balance
- Under Armour
- Adidas America Inc.
- 3D Systems Inc.
- Shapeways Inc.
- Formlabs
- Materialise
- Zortrax
- Stratasys Ltd.
- EnvisionTEC
- Carbon, Inc.
- Prodways Technologies
- Origin
- Molecule Corp. (Henkel AG & Company)
Recent Developments in the 3D Printed Wearable Market
- Kniterate, a US-based firm, has introduced a new line of 3D printers capable of producing sustainable knitted garments and clothing using natural materials, primarily merino wool, known for its comparatively eco-friendly profile compared to synthetic fibers.
- Zellerfeld's Tailgrip 3D-printed sneakers incorporate recycled materials, eliminating the need for traditional stitching, gluing, and leather binding structures. These shoes can be recycled and rejuvenated even after extended use.
- In response to the demand for prosthetic devices in conflict-affected European nations like Ukraine, the Canadian company Victoria Hand Project is employing innovative materials to provide high-performance 3D-printed prosthetics to those in dire need.
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3D Printed Wearable Market Segmentation:
By Product Type:
- Footwear
- Prosthetics
- Orthopedic Implants
- Surgical Instruments
- Smart Watches
- Fitness Trackers
By End-use Sector:
- Hospital
- Pharma and Biotech companies
- Academic Institutes
- Others
By Sales Channel:
- Online Retail
- Offline Retail
- Direct Sales
- Healthcare Providers
- Customization Platforms
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Author By:
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
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