The Asia Pacific 3D Printing Medical Devices Market size is estimated at USD 269.97 million in 2022. It is further poised to reach USD 1210.57 million by 2027, growing at a CAGR of 35% during the forecast period.
The availability of advanced 3D printing materials for dental and medical applications and the rising demand for 3D-printed items in the cosmetics and pharmaceutical industries are majorly promoting the APAC 3d printing medical devices market. As a result, 3D printing makes it simple to create customized medical goods, and the number of uses for 3D printing in the healthcare business is rising. Furthermore, due to the establishment of new 3D printing research, training, and education facilities and rising efforts by major market participants to extend their distribution networks in emerging Asian nations, APAC is expected to grow the most throughout the forecast period.
Benefits include better productivity and easier access to gadgets for those who do not deserve them. In addition, artificial intelligence combined with 3D printing medical equipment is expected to offer up new market opportunities. Sensors and trackers may also be implanted into 3D printed accessories by device makers, enhancing durability, ergonomics, and a user's experience. Asia-Pacific, excluding Japan (APEJ), is estimated to be the fastest-growing market for 3D-printed medical equipment during the forecast period. 3D printing medical devices aid surgeons in planning surgeries, minimizing operating risks, reducing the duration of anesthetic exposure, lowering the risk of infection, allowing patients to recover faster, and drastically reducing hospital stay time. These factors may have an even greater influence on market growth in the future.
The lack of qualified labor is one of the most significant hurdles to adopting additive manufacturing or 3D printing. The 3D printing medical devices industry has a tiny pool of experienced employees with 3D printing techniques, which is worsened by the rapid pace of technical and material development. As a result, there is a significant gap between academic research and commercial applications that is difficult to close. In additive manufacturing, the lack of a workforce with a thorough grasp of the design process and production cycle impacts the product's ultimate quality.
Due to financial restrictions, small and medium-sized end customers may not build 3D printing facilities. This is a significant market challenge. In addition, the high expenses of setting up and maintaining these devices and the strict regulatory compliances imposed by authorities on the commercialization of medical devices created with the aid of 3D printing are limiting the market for 3D printing medical devices.
This research report on the APAC 3D printing medical devices market has been segmented and sub-segmented into the following categories:
Regionally, the Asia Pacific 3D printing medical device market is the fastest-growing region in the global market. Increasing economy, physical disabilities, and rising urban areas in the Asia Pacific region are major factors for the market to grow.
India and China's 3D printing medical device markets are the major countries contributing the highest shares to the APAC market. This is because they focus on the development of innovative systems with the latest technologies. In addition, an increasing number of hospitals and research care centers is a major factor for the market to grow. The Chinese market is predicted to hold a significant share in the global market during the forecast period due to the increasing geriatric population, rising incidences of various health disorders, and increasing disposable income. Following China, India has dominant market shares due to rising R & D activities in the healthcare sector. In addition, the rise in the prevalence of quality treatment procedures is enhancing the market's growth rate.
The Japanese 3D printing medical device market is the most technologically advanced nation in this region is predicted to show high potential for growth in the near future. At the same time, both India and China present great opportunities and will be the target market for major MNC’s.
KEY MARKET PLAYERS:
A few of the noteworthy companies operating in the APAC 3d printing medical devices market profiled in this report are 3D Systems Corporation, Stratasys Ltd., EnvisionTEC GmbH, Renishaw plc, Materialise NV, 3T RPD, Ltd., EOS GmbH, Electro-Optical Systems, Concept Laser GmbH, Arcam AB and Prodways.
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