3D Printing in Medical Applications Market to Register 15.4% CAGR, Europe Expected to Emerge as Leading Regional Market

Since its introduction over a decade ago, 3D printing as a technology has revolutionized manufacturing as a process. Ever increasing cost pressures on medical device manufacturers and their intense need to introduce innovative products has forced them to adopt 3D printing as a means to reduce the manufacturing life cycle and almost completely eliminate the traditional prototyping process. Traditional manufacturing techniques are based on the subtractive method where, the required product is created by cutting or drilling of the base material. 3D printing builds the desired products layer-by-layer through addition of materials. Hence, this process is also called as additive manufacturing. Although, 3D printing is actually a subset of additive manufacturing, it used synonymously with additive manufacturing in the industry. The overall 3D printing market for medical applications has been categorized on the basis of its applications, raw materials, and technology

The medical application of 3D printing is significantly increasing and the technology, according to industry experts, will revolutionize the global healthcare industry. Both potential and current medical applications of 3D printing can be segmented into several categories. Transparency Market Research (TMR) has published a report that presents a holistic overview of the global 3D printing in medical applications market. The report also evaluates the growth trajectory that the different market segments are poised to exhibit during the forecast period between 2013 and 2019. The report is titled “3D Printing in Medical Applications Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019” and is available on TMR’s website for sale. 

The global market for 3D printing in medical applications will develop at a healthy 15.4% CAGR, forecasts the report. In 2012, the global market for 3D printing in medical applications stood at US$354.5 million. Expanding rapidly during the forecast period, the market is anticipated to reach an estimated valuation of US$965.5 million by the end of 2019. The report segments the global 3D printing in medical applications market into implants, surgical guides, bioengineering, and surgical instruments in terms of applications. Under surgical guides, 3D printing is used in applications such as dental surgeries, cranio-maxillofacial surgeries, and orthopedic procedures.

The raw materials market includes the market focused for use in medical applications. The raw materials market comprises of metals, alloys, polymers, ceramics and others. The market for these raw materials used for manufacturing 3D printed medical products has been extensively analyzed based on the application areas and cost. The market size and forecast in terms of USD million for each product type has been provided for the period 2011 to 2019, considering 2012 as the base year. The report also provides the compounded annual growth rate (% CAGR) for the forecast period 2013 to 2019 for each.

The geographic landscape covers the major regions, namely North America, Europe, Asia and Rest of the World (RoW). The market size and forecasts in terms of revenue (USD million) for the period 2011 to 2019, considering 2012 as the base year, have been provided for this segment. The report also provides the compounded annual growth rate (% CAGR) for the forecast period 2013 to 2019 for the segment.

Browse report: http://www.transparencymarketresearch.com/3d-printing-medical-applications.html