3D Printing Medical Devices Market to Exceed Valuation of USD 9.47 billion at a 18.72% CAGR by 2029
Global 3D Printing Medical Devices Market Analysis and Size
3D printing technology is increasingly being used by a wide range of industry verticals and healthcare industry is one of them. 3D printing technology here is used to manufacture the medical devices and equipment that in turn are used in the healthcare procedures and operations. 3D printing technology offers greater benefits over conventional manufacturing process.
Data Bridge Market Research analyses that the 3D printing medical devices market is expected to undergo a CAGR of 18.72% during the forecast period. This indicates that the market value, which was USD 2.40 billion in 2021, would rocket up to USD 9.47 billion by 2029. “Services and Software” dominates the product segment of the 3D printing medical devices market owing to the cost-effectiveness, utility, uniformity, and accuracy offered by services and software.Global 3D Printing Medical Devices Market Definition
From the name itself, it is clear that 3D printing medical devices are the medical products that are manufactured using 3D technology. This involves the application of various number of different manufacturing methods/techniques that are primarily based on creating a digital file/image of the object to be manufactured before a number of different methods.
COVID-19 Impact on 3D Printing Medical Devices Market
COVID-19 had a negative impact on the market. This is because of the significant disruptions experienced by their respective manufacturing companies in the pandemic era. Also, disruptions in the supply-chain operations as a result of various precautionary lockdowns further restricted the growth in this phase. Further the aim of individuals to reduce the non-essential expenses in this pandemic phase narrowed down the scope of growth. Also, restrictions imposed on the movement further created hindrances. However, the future of the market is in good shape.
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Global 3D Printing Medical Devices Market Scope
The 3D printing medical devices market is segmented on the basis of product, technology, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
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