Digital 3D Printing Market Overview
Technological advancements in digital 3D Printing, rising public-private funding for 3D Printing activities are the major drivers that contribute to the growth of the digital 3D Printing market.
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 industry.
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 trends 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.
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 is poised to touch a valuation of USD 14,404.36 Million 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 RD funding initiatives of public-private sectors are the major growth drivers contributing to the growth of the market.
Key Players
digital 3D Printing market players are Stratasys Ltd (US), 3D Systems, Inc. (US), Carbon, Inc. (US), EnvisionTEC (US), Formlabs (US), ExOne (US), Materialise (Europe), General Electric (US), Micron Dental (US), Renishaw PLC (UK).
Market Segmentation
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
Regional Analysis
North America dominates the global digital 3D printing market. 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 market.
Europe stands second in the 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 market in European territory is estimated to increase rapidly during the assessment period.
The 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 market to remain among the top leaders.
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