Market Overview
The
technology perceives a vast market demand that leads to increasing the size of
the market on the global front. According to Market Research Future (MRFR), the
global digital 3D printing market share is poised to touch a valuation of USD
14404.36 MN by 2030, registering 21.20% CAGR a throughout the forecast period
(2022 – 2030). Rising advances in the digital 3D printing technology led by the
rising R&D funding & initiatives of public-private sectors are the
major growth drivers contributing to the growth of the market.
Global
digital 3D printing market is witnessing a constant rise in its revenues,
mainly due to the rising adoption of 3D printing technology across industries.
Some of the digital 3d printing market research include the rapidly evolving 3D
printing technology and increasing applications of this technology in the
healthcare industry. 3D printing technologies have not only improved practices
in the medical field but have also empowered manufacturers of medical devices
and researchers, proving their worth in dental & orthodontic treatments,
orthopedic implants, tissue engineering, and drug development.
Advantages
that technology offers are boosting its application rate in the 3D printing
market. Besides, the rising popularity of 3D printing technology among
end-users is expected to push the market growth in the upcoming years. On the
other hand, factors such as the lack of expertise and knowledge about the
technology are acting as major growth impeders for the growth of the digital 3D printing
market report industry.
Also,
the slow adoption of the digital 3D printing technology is inhibiting the
market growth extensively, especially in the developing regions such as the
APAC and MEA. However, the situation is expected to improve dramatically over
the assessment period.
Digital 3D Printing Market - Competitive Analysis
Highly
competitive, the digital 3D printing market outlook appears well-established
with the presence of several notable players. Players operating in the market
strive to develop new products and thus their portfolio with cost-competitive
prices. They make substantial R&D investments for the development of new
products & technologies and to strengthen their market presence by
expanding the distribution network and regional footprints. This further allows
them to form collaborations and strategic initiations such as mergers &
acquisitions, and others with other players in the digital 3D printing
industry.
Major Players:
Global
digital 3D printing market players include
- 3D
Systems, Inc. (US),
- Stratasys
Ltd (US),
- Carbon,
Inc. (US),
- Formlabs
(US),
- EnvisionTEC
(US),
- ExOne
(US),
- General
Electric (US),
- Materialise
(Europe),
- Micron
Dental (US), and
- Renishaw
PLC (UK), among others.
Digital 3D Printing Market - Segments
The
analysis is segmented into six main dynamics to widen the scope of
understanding,
By Component
: System/Device and Software/Services
By Material
: Polymers, Metal & Alloy, Ceramics, and others.
By Technology
: Stereo Lithography, Deposition Modeling, Laser Sintering
Jetting Technology, Electron Beam Melting, and others.
By Applications
: Dental (Clear
Aligners, Dental Implants, Endosteal Implants, Sub-Periosteal Implants,
Dentures Crowns & Bridges, others) Prosthetics (Prosthetics
implants, Hip Disarticulation, Lower Limb/Extremity Componentry, Finger
Splints, others), Orthopedics,
Medical Components, Tissue Engineering (Bone &
Cartilage Scaffolds, Ligament & Tendon Scaffolds, others), Hearing Aids, Drug Screening, and
others.
By End User
: Hospitals
& Surgical Centers, Dental Clinics & Laboratories (Offices),
Pharmaceutical & Biotechnology Companies, and others.
By Regions
: Americas, Europe, Asia-Pacific, Middle East & Africa,
and Rest-of-the-World
Global Digital 3D Printing Market - Regional
Analysis
North
America dominates the global digital 3D printing
market overview. The largest market share attributes to the presence of
established market players in the region and the augmenting demand for the
digital 3D printing technology. Besides, medical device companies in the
region, alongside the rising prevalence of diseases and increased adoption of
medical devices in the treatment foster the growth of the market.
Moreover,
digital 3D printing market trends, such as increasing advances and adoption of
the technology is expected to drive the market growth further. Furthermore, the
well-established 3D printing manufacturing industries in the region are
substantiating the growth in the market excellently. In 2018, the US market
held the largest share in the North American digital 3D printing market.
Europe
stands second in the global digital 3D printing market, heading with the
favorable government initiatives for the development of the technology. Rising
prevalence of lifestyle diseases and the presence of well-established medical
device industries in Germany, the UK, and France influence the regional market
growth. The size of the digital 3D printing market in European territory is
estimated to increase rapidly during the assessment period.
The
digital 3D printing market in the Asia Pacific region is growing briskly
attributing to the increasing per capita health spending, geriatric populaces,
and incidence of accidents. Besides, the proliferating healthcare sectors in
China, Japan, India, and Australia are substantiating the growth of the market.
Furthermore,
the rising adoption of medical devices is a dominant driving force pushing the
regional market growth forward. Substantial investments to expand 3D printing
capabilities in rapidly developing APAC economies such as China, South Korea,
Japan, and India are allowing the APAC digital 3D printing market to remain
among the top leaders.
About US:
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