Digital 3D Printing Market Overview
Also, the slow adoption of the digital 3D printing technology is inhibiting the market growth extensively, especially in the developing regions such as the APAC and MEA. However, the situation is expected to improve dramatically over the assessment period
The technology perceives a vast market demand that leads to increasing the size of the market on the global front. According to Market Research Future (MRFR), the global Digital 3D Printing Market Overview is poised to touch a valuation of USD 14,404.36 Million by 2030, registering 21.20% CAGR a throughout the forecast period (2022 – 2030). Rising advances in the digital 3D printing technology led by the rising RD funding initiatives of public-private sectors are the major growth drivers contributing to the growth of the market.
Advantages that technology offers are boosting its application rate in the 3D printing market. Besides, the rising popularity of 3D printing technology among end-users is expected to push the market growth in the upcoming years. On the other hand, factors such as the lack of expertise and knowledge about the technology are acting as major growth impeders for the growth of the digital 3D printing industry.
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Major Players:
Players leading the global digital 3D printing market include 3D Systems, Inc. (US), Stratasys Ltd (US), Carbon, Inc. (US), Formlabs (US), EnvisionTEC (US), ExOne (US), General Electric (US), Materialise (Europe), Micron Dental (US), and Renishaw PLC (UK), among others.
Digital 3D Printing Market Segmentation
The global 3D printing market has been segmented based on application, end-users, component, technologies, and material. On the basis of application, the market for 3D printing is segmented based on drug screening, hearing aids, medical components, orthopedics, prosthetics, tissue engineering, dental, and others. Additionally, the market on the basis of end-users, is segmented into dental clinics laboratories (offices), pharmaceutical biotechnology companies, hospitals surgical centers, and others. The global market for 3D printing is also covered based on the component segment which is further split into system/device, software/services. On the basis of technologies, the market for 3D printing is segmented based on deposition modeling, electron beam melting, jetting technology, laser sintering, stereo lithography, and others. Additionally, the market on the basis of material, is segmented into polymers, metal and alloy, and others.
Major elements such as high material cost could obstruct the 3D printing market growth. However, according to the 3D printing market research report, increasing use in dental orthodontic treatments along with increasing benefits of the mentioned applications will propel growth throughout the forecast period. The 3D printing market is set to register growth at a high CAGR owing to these key factors. The exploration of application, end-users, component, technologies, and material segments along with regional markets has been given in the global 3D printing market research report. The research analysts studying the 3D printing market have put out market forecasts in the 3D printing market research report in order to support 3D printing market-based companies. The 3D printing market research report provides an extensive understanding of the 3D printing market based on the information and forecasts till 2025.
Digital 3D Printing Market Regional Analysis
North America dominates the global digital 3D printing market. The largest market share attributes to the presence of established market players in the region and the augmenting demand for the digital 3D printing technology. Besides, medical device companies in the region, alongside the rising prevalence of diseases and increased adoption of medical devices in the treatment foster the growth of the market.
Moreover, digital 3D printing market trends, such as increasing advances and adoption of the technology is expected to drive the market growth further. Furthermore, the well-established 3D printing manufacturing industries in the region are substantiating the growth in the market excellently. In 2018, the US market held the largest share in the North American digital 3D printing market.
Europe stands second in the global digital 3D printing market, heading with the favorable government initiatives for the development of the technology. Rising prevalence of lifestyle diseases and the presence of well-established medical device industries in Germany, the UK, and France influence the regional market growth. The size of the digital 3D printing market in European territory is estimated to increase rapidly during the assessment period.
The digital 3D printing market in the Asia Pacific region is growing briskly attributing to the increasing per capita health spending, geriatric populaces, and incidence of accidents. Besides, the proliferating healthcare sectors in China, Japan, India, and Australia are substantiating the growth of the market.
Furthermore, the rising adoption of medical devices is a dominant driving force pushing the regional market growth forward. Substantial investments to expand 3D printing capabilities in rapidly developing APAC economies such as China, South Korea, Japan, and India are allowing the APAC digital 3D printing market to remain among the top leaders.
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