3D Printing Medical Devices Market to Top $3B by 2026

3D printing—a.k.a., additive manufacturing—continues to gain traction in the medtech industry as engineers seek more simple and cost-effective ways to implement design changes, and manufacturers favor products with a high level of specificity.  

Also referred to as layered manufacturing (LM), rapid prototyping (RP), and additive fabrication (AF), 3D printing is defined as a collection of technologies that build physical three-dimensional objects, tooling components, final production parts, and prototypes by using a layer by layer process. As many countries consider moving key production activities to home in the wake of COVID-19, 3D printing is expected to play a vital role in facilitating this migration. Recent innovations in the area of 3D printing are attracting a larger number of consumers, thereby accelerating the global market growth. Moreover, the seamless development of customized medical products using 3D printing technology is expected to significantly enhance the market growth in the near future.

Amid the COVID-19 crisis, the global market for 3D printing medical devices was estimated at $1.3 billion in 2020 and is projected to reach $3.2 billion by 2026, growing 16.3% annually, according to Benziga data. 3D printing systems is expected to grow 15.9% annually to reach $2 billion in the next four years. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the materials segment is forecast to swell 17.9% through the next seven seven years. This segment currently accounts for a 29.2% share of the global 3D printing medical devices market. Advent of new and effective technologies and approaches, expanding application areas, and funding support from government agencies are expected to foster demand for 3D printing systems.

The U.S. 3D printing medical devices market was estimated at $507.8 million last year, with the country accounting for a 35.33% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated $418.5 million market value in 2026, growing 17.6% annually. Japan and Canada are projected to grow at 15.4% and 15.7% respectively over the next four years. Within Europe, Germany is expected to expand 16.8% annually while Rest of Europe will reach $488.5 million by the end of 2026. Rising technological advancements and growth in research and development activities are some of the major factors set to drive growth in the North America region. A surge in population and rising number of 3D printing applications in Asia-Pacific is expected to contribute to the technology’s popularity in the region.  

In the global 3D printing services segment, the United States, Canada, Japan, China, and Europe will drive the 14.2% annual growth rate estimated for this segment. These regional markets accounted for a combined market size of $160.5 million in 2020 and will expand to $406 million by the end of 2026. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach $32.3 million in the next four years.