LONDON, April 07, 2021 (GLOBE NEWSWIRE) -- As per The Business Research Company, global outbreak of COVID-19 has indirectly affected the 3D printing market as application of 3D printing in pharmaceutical and medical industries witnessed a major uptrend.
During the pandemic, global healthcare systems were put under critical strain due to severe shortages of hospital beds and medical equipment. Patients with COVID-19, the disease caused by severe acute respiratory syndrome coronavirus, are at risk for acute respiratory distress syndrome (ARDS) and a fraction of these patients will require high-level respiratory support to survive. Due to such shortages in equipment, the demand for 3D printing has increased drastically.
3D printing devices are increasingly being used to manufacture medical devices, personal protective equipment (PPE), testing devices and even emergency dwellings to isolate people suffering from the disease. 3D printing community members closely collaborated with companies and hospitals to ensure adequate manufacturing approaches and appropriate clinical use.
The global 3D printer market reached a value of nearly $8.6 billion in 2020, having increased at a compound annual growth rate (CAGR) of 16.8% since 2015. The market is expected to grow from $8.6 billion in 2020 to $20 billion in 2025 at a rate of 19.4%. The market is then expected to grow at a CAGR of 13.4% from 2025 and reach $39 billion in 2030. The global 3D printing market is a rapidly growing and versatile industry due to its ability to adhere to various markets, cost effectiveness, and efficiency. 3D printing helps to create parts for the manufacturing of engines in the automotive industry, produces prototypes for houses that enforce architects be more innovative, helps create lighter tools, and is inexpensive for various industries such as healthcare and construction.
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The Business Research Company’s report titled 3D printer Market Global Report 2021: COVID-19 Growth And Change covers major 3D printer companies, 3D printer market share by company, 3D printer manufacturers, 3D printer market size, and 3D printer market forecasts. The report also covers the global 3D printer market and its segments. The 3D printer market is segmented by type into desktop 3D printer and industrial 3D printer; by technology into stereolithography, fused deposition modeling (FDM), selective laser sintering (SLS), direct metal laser sintering (DMLS), polyjet/multijet printing (MJP), inkjet printing, electron beam melting (EBM), laser metal deposition (LMD), direct light projection (DLP) and by end-user industry into automotive, aerospace & defense, healthcare, food, construction & architecture.
Within the 3D printer market segmented by end-user industry, the healthcare market is one of the fastest growing segments in the industry. The healthcare 3D printing market is expected to grow from $1.9 billion in 2020 to more than $4.3 billion by 2025 at a compound annual growth rate of 19.1%.
3D printing has been capturing attention in the healthcare field because of its potential to improve treatment for certain medical conditions. Key applications of 3D printing in healthcare include 3D-printed orthopedic implants, personalized surgery that involves developing patient-specific models of organs and surgical tools and using patients’ own medical imaging and medical and dental devices such as prosthetics, dentures, and braces.
The increasing demand for prototyping applications in various industry verticals including aerospace & defense, automotive, and healthcare is likely to boost the demand for the 3D printer market during the forecast period. The growth of the end-use industry is projected to fuel the demand for a 3D printer for prototyping applications.
Request For A Sample Of The 3D Printer Global Market Report 2021:
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The 3D printer market is fragmented with a large number of players operating in the market. The key players in the market are focusing on expanding operational and business presence in the 3D printer market through new product development & launches with advanced innovative features, and strategic acquisition of emerging companies in the industry. The top ten competitors in the market made up to 12.4% of the total market in 2020. Major players in the 3D printer market include 3D Systems Corporation, Stratasys Ltd, GE Company, EOS GmbH, and HP. 3D Systems Corporation was the largest competitor with 3.09% of the market followed by others.
3D Printer Global Market Report 2021: COVID-19 Growth And Change To 2030 is one of a series of new reports from The Business Research Company that provide 3D printing market overviews, analyze and forecast 3D printing market size and growth for the whole 3D printing market, 3D printing market segments and geographies, 3D printing market trends, 3D printing market drivers, 3D printing market restraints, 3D printing market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the 3D printing market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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