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

According to our latest study on “South & Central America 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$ 214.6 million by 2028 from US$ 84.1 million in 2021; it is expected to grow at a CAGR of 14.3% 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.

COVID-19 cases are on the rise in South and Central America; the rising number of cases in Brazil, Peru, Chile, Ecuador, and Venezuela is anticipated to have a negative impact on the market. There has been an increase in the number of cases in South American countries since the outbreak of COVID-19's second wave. According to the International Council of Nurses, due to high virus transmission, the number of mortalities among health professionals in Brazil is higher than in other nations. As Brazil has many populated areas and regions with small houses with 6-7 people per house, the virus spreads like wildfire. Currently, the south and Central American countries are speedily increasing their clinical programs to fight against the covid-19. The covid-19 has impacted the market in negative way owing to disruptions in supply chain of medical devices and increased emphasis of medical devices companies to manufacture PPE kits, gloves, masks and other infection protection kits which has affected the market growth.

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, Stratasys Ltd., 3D Systems, Inc., EnvisionTech, Inc., Renishaw PLC, Concept Laser Gmbh (General Electric), and SLM Solution Group AG are among the leading companies in the South & Central America 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 South & Central America 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 South & Central America 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 South & Central America 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 South & Central America (Brazil, Argentina, Australia, Rest of South & Central America).

South & Central America 3D Printing Medical Devices Market, By Country, 2021 and 2028 (%)

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