The global 3D printing in the medical application market is highly competitive in nature and is estimated to witness a significant rise in the level of competition. The leading players in the market are focusing on development of new product and innovations, which is likely to generate promising growth opportunities for the market players in the next few years. The growing demand for 3D printing from the medical industry is considered to attract a large number of players to enter the market and expand their business horizon in the next few years. The global market for 3D printing in medical applications is likely to reach a value of USD 965.5 million by the end of 2019 by exhibiting a promising 15.40 percent CAGR between 2017 and 2019, predicts Transparency Market Research.
The increasing number of medical applications and the rising trend of customized 3D printed medical products are the key factors that are projected to encourage the growth of global 3D printing in medical applications in the next few years. The increasing trend of customized 3D printed medical products and the high funding from government and private organizations are further predicted to accelerate the growth of the market in the coming years. On the other hand, the lack of skilled professionals and several issues related to the material characteristics and developments are estimated to restrict the growth of the global 3D printing in the medical applications market.