The size of the European 3D Printing Medical Devices Market is estimated at USD 547.11 million in 2022 and is poised to reach USD 1836.93 million by 2027, growing at a CAGR of 27.41%.
3D printing is quite possibly the next greatest chapter in the industrial uprising. Today, 3D printing is emerging as a cost-effective, efficient, and customized manufacturing option for the medical devices industry applicable to a range of devices.
Factors such as growing 3D printing applications in the healthcare industry, availability of improved 3D printing materials for dental and medical applications, rising demand for 3D-printed products in the cosmetics and pharmaceutical industries, as well as the increasing prevalence of osteoarthritis, are expected to boost the Europe 3D printing medical devices market over the forecast period. In addition, continuous scientific developments in 3D printing, increased governmental and private investments to create new 3D printing technologies and applications, and rising acceptance of 3D-printed organs and implants are all driving demand in the European region. The market's expansion is fueled by technological improvements and the ease with which unique medical items may be developed. In addition, the market is predicted to rise due to increased financing available from public sources for 3D printing processes and emerging application areas for 3D printing in the market in this region.
The digitization of dentistry and medical processes has come a long way in recent years, intending to enhance clinical workflow through technology. Traditional dentistry and surgeries are giving way to digital dentistry and operations. Increased demand for organ transplantation, significant mergers and acquisitions to accelerate the market’s growth, and the expiration of important patents are providing new growth opportunities in the 3D printing medical devices market in the European area for existing market players and new entrants. This technology has revolutionized preclinical drug testing by allowing testing on 3D-printed organs as an alternative to animal testing. The recent success of 3D printing tablets has opened up new opportunities for the pharmaceutical industry to exploit 3D printing technology. The ability to produce medical products and devices quickly and easily using this approach is also a major growth factor for the 3D printing medical devices market.
However, the expensive cost of modern 3D printers, the lack of both formal regulatory frameworks and reimbursement policies, and copyright and patent difficulties related to the 3D printing of copyrighted objects are projected to hinder market expansion in Europe. The absence of a competent workforce is one of the biggest challenges related to additive manufacturing and 3D printing. Staff who are familiar with 3D printing methods are in short supply. There are few training programs available for additive manufacturing, and there is a significant gap between academic research and business applications that is difficult to cross.
This research report on the European 3D printing medical devices market has been segmented and sub-segmented into the following categories:
Regionally, the most developed nations have the potential for growth in the coming few years due to their technological advancements. 3D printing can enable mass customization, which will take considerably less time and expense of the production cycle. A small start-up company can go quickly from design to manufacture with the help of a 3D printer, increase in-house production, helping in controlling operations.
The 3D Printing Medical Devices Market in the United Kingdom is predicted to play a leading role in the European market during the forecast period. Growing support from the public & private organizations through investments and constant economic growth from the past few years are expected to favor the UK market.
The German 3D printing medical devices market is estimated to account for a significant share in the European market during the forecast period. In Germany, some institutes provide hands-on training for the 3D printed model for dental traumatology. In addition, the increasing geriatric population is also one of the factors surging the demand of the market.
Due to the latest technological developments, the 3D printing medical devices market in France is likely to register a healthy CAGR during the forecast period. In addition, the growing number of people suffering from chronic diseases like cancer, cardiovascular problems, and others is to fuel the market's demand to the extent.
KEY MARKET PLAYERS:
A few of the promising companies operating in the European 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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