Software and Services Segment has the Largest Share of Component in the Europe 3D Printing Medical Devices Market during 2021–2028

According to our latest study on “Europe 3D Printing Medical Devices Market Forecast to 2028 – COVID-19 Impact and Analysis – by Component, Technology, Application, and End-User,” the market is projected to reach US$ 1,986.9 million by 2028 from US$ 642.6 million in 2021; it is expected to grow at a CAGR of 17.5% from 2021 to 2028. The report highlights trends prevailing in the market, and the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the rising incidences of cancer and increasing adoption of metabolomics and investments by market players. However, high cost of tools, instruments, and usage is expected to restrict the market growth during the forecast period.

Due to the coronavirus outbreak, the European Commission decided to push back the transition from MDD to MDR. This permits the medical device sector and Notified Bodies (NBs) to concentrate on the current issue and devote all of their resources to combatting the coronavirus. However, there has been no indication on whether the In Vitro Diagnostic Regulation (IVDR) 2017/246, which is set to take effect in May 2021 would be postponed. This adds to the strain on IVD makers, who must stay on track with the improvements required to move to IVDR. They must also deal with the increased demand for key diagnostic tests as well as the difficulty of kit manufacture and distribution during the pandemic. The European Commission has temporarily made the export of certain medical gadgets, such as personal protective equipment (PPE) and other similar protective gear, subject to authorization. Medical device companies that are contractually obligated to supply devices to nations outside of the EU may find this problematic. Norway, Lichtenstein, and Switzerland are exempt from this authorization.

Based on component, the 3D printing medical devices market is segmented into software and services, equipment, and material. In 2021, the material segment accounted for the largest share. Moreover, the software and services segment is expected to grow at the highest CAGR during the forecast period.

EOS GmbH Electro Optical Systems, Renishaw PLC, Stratasys Ltd., 3D Systems, Inc., EnvisionTech, Inc., Concept Laser Gmbh (General Electric), Proadways Group, SLM Solution Group AG, 3T RPD Ltd., and CELLINK are among the leading companies in the Europe 3D printing medical devices market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

The market for 3D printing medical devices market is segmented into component, technology, application, and end-user. Based on component, the Europe 3D printing medical devices market is segmented into software and services, equipment, and material. Based on technology, the 3D printing medical devices market is segmented into laser beam melting, photopolymerization, droplet deposition/extrusion-based technology, electron beam melting, and others. Based on application, the Europe 3D printing medical devices market is segmented into custom prosthetics and implants, surgical guides, tissue engineering products, surgical instruments, hearing aids, wearable medical devices, standard prosthetics and impants, and others. Based on end-user, the Europe 3D printing medical devices market is segmented into hospitals and surgical centers, dental and orthopedic centers, medical device companies, pharmaceutical and biotechnology companies, academic and research institutions, others. Geographically, the 3D printing medical devices market is segmented into Europe (Germany, UK, France, Spain, Italy, Rest of Europe).

Europe 3D Printing Medical Devices Market, By Country, 2021 and 2028 (%)

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com