According to a new report, the 3D printing for medical applications market is expected to grow at a CAGR of 15.4% from 2013 to 2019.
3D Printing in Medical Applications Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013 – 2019, shows the market is expected to grow at a CAGR of 15.4%. As well as this, government funding, increase in research and development investments, and rising application areas of 3D printing in the medical industry could also boost the growth of this market.
The technologies that are used in 3D printing for medical application include electron beam melting, or EBM, laser beam melting, LBM, photopolymerization, and droplet deposition manufacturing, or DDM. These technologies are being used to manufacture various medical structures such as surgical guides, medical implants, surgical instruments, and bioengineering.
LBM and photopolymerization have accounted for the major share of the market in 3D printing for medical applications. They have proven to be more accurate and efficient for manufacturing various bio-models. The market for LBM and photopolymerization is expected to have the highest growth through 2019. To manufacture various bio-models, the most used raw materials are metal and polymers. These technologies coupled with raw materials are majorly used to manufacture medical implants, which include dental, orthopedic, and cranio-maxillofacial implants.
Geographically, the North American region constituted the largest market share for 3D printing in medical application in 2012; however, Europe is predicted to foresee the highest growth rate from 2013 to 2019.