(MENAFN- America News Hour)
Kenneth Research has recently added a report titled Medical 3D Printing Plastics Market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2022-2031.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Medical 3D Printing Plastics Market products.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Global Medical 3D Printing Plastics Market is valued at approximately USD 209 million in 2019 and is anticipated to grow with a healthy growth rate of more than 27% over the forecast period 2020-2027. Since the last few years, the medical industry continues to recognize the added value of 3D Printing (or additive manufacturing) for a diverse range of medical applications. 3D printing plastics are widely used in the enhancement of new surgical cutting and drill guides, orthopedic implants, catheters, and prosthetics as well as the creation of patient-specific replicas of bones, organs, and blood vessels. They are also used for making face masks, shoe cover, surgical masks, and various other associated products. Further, more than 20 different implants produced with 3D printing technologies, varying from cranial implants to hip, spinal, and knee implants approved by the Food and Drug Administration (FDA). Therefore, the demand for medical 3D printing plastics is significantly rising around the world, which drives the market growth. Furthermore, the rising cases of vascular and osteoarthritis diseases due to the growing aging population, along with rising health awareness among people are the few factors responsible for the CAGR of the market during the forecast period.
According to the World Health Organization, the number of people aged 65 or above is projected to grow nearly 1.6 billion in 2050 from an estimated 524 million in 2010, with most of the increase in developing countries. This, in turn, is expected to accelerate the market growth around the world. Recently, the COVID-19 is widely spread throughout the world, thus various regional governments are mandating the use of face masks & hand gloves among the individual and healthcare workers to prevent the spread of this contagious diseases. This is likely to strengthen the usage for 3D printing plastic across healthcare companies to manufacture face masks and other personal protection equipment thereby, the market would grow at a significant rate in the forthcoming years. However, the high costs of the 3D printed products and health risks from exposure to toxic materials used in printing are the few factors impeding the market growth over the forecast period of 2020-2027.
The regional analysis of the global Medical 3D Printing Plastics market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to increasing health awareness among people, rising healthcare spending, and surging demand for disposable plastics in the region. Whereas, Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising geriatric population and increasing incidences of vascular and osteoarthritis diseases among people would create lucrative growth prospects for the Medical 3D Printing Plastics market across the Asia-Pacific region.
Major market player included in this report are:
3D Systems, Inc.
Apium Additive Technologies GmbH
Arkema S.A.
Koninklijke DSM N.V.
EnvisionTEC
Evonik Industries AG
SABIC
Solvay S.A.
Stratasys, Ltd.
Victrex plc
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
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The detailed segments and sub-segment of the market are explained below:
By Type:
Acrylonitrile Butadiene Styrene (ABS)
Polyetheretherketone (PEEK)
Polyethylene Terephthalate Glycol (PETG)
Photopolymer
Polyamide
Polylactic Acid
By Form:
Filament
Powder
Ink
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Medical 3D Printing Plastics Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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About Kenneth Research
Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defence, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research, are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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