The size of the 3D Printing Medical Devices Market in Latin America is estimated at USD 187.31 million in 2022 and is poised to reach USD 781.85 million by 2027, growing at a CAGR of 33.08% during the forecast period.
The technology for 3D printing, also known as additive manufacturing, has not been proficient enough or cost-effective for most end-product or high-volume commercial production in the past two decades. Right now, expectations are running high as these shortcomings are about to change, with 3D printing quite possibly being the next most significant chapter in the industrial uprising.
One of the major driving forces for growth in the Latin American medical device 3D printing industry is the rising demand for patient-specific products in orthopedics and maxillofacial surgery. Further, with the prices of 3D models coming down and also with the availability of a broad range of material options that range from polymers to living tissue, there has been increased adoption of 3D printing for medical purposes.
Besides, the latest advancements in technologies, growing awareness about the new developments, policies, and funding from governments are also boosting the market growth.
This research report on the Latin America 3D printing medical devices market has been segmented and sub-segmented into the following categories:
Regionally, the Latin American in the 3D printing medical devices market is expected to have steady growth during the forecast period, and the growth is attributed due to factors such as advanced technologies towards the market, increasing awareness about the new technologies being used over the market.
In this regional market, Brazil is expected to lead during the forecast period. Brazil is the largest economy and well advanced on the technological front is set to be the ground for significant developments in 3D printing technologies in the Latin America region. Further, its geographical closeness to the most developed markets in North American countries can be an added advantage to this region. Brazil is expected to lead the market with the most considerable income, and the growth of this country is due to advanced technology. This 3D printing of medical devices is extensively used for cardiovascular, craniomaxillofacial surgery, radiology, and many more.
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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