How the 3D printing industry has been affected by the pandemic


As per Business Research Company, global break out of COVID-19 has actually indirectly impacted the 3D printing market as application of 3D printing in pharmaceutical and medical industries experienced a significant uptrend.

During the pandemic, global health care systems were put under vital strain due to extreme scarcities of medical facility beds and medical equipment. Patients with COVID-19, the illness triggered by serious acute breathing syndrome coronavirus, are at threat for severe breathing distress syndrome (ARDS) and a portion of these patients will need high-level breathing assistance to survive. Due to such scarcities in equipment, the need for 3D printing has increased considerably.

3D printing devices are progressively being utilized to manufacture medical gadgets, personal protective equipment (PPE), testing devices and even emergency residences to separate individuals experiencing the illness. 3D printing community members carefully worked together with companies and healthcare facilities to ensure sufficient production techniques and proper scientific usage.

The worldwide 3D printer market reached a value of nearly $8.6 billion in 2020, having actually increased at a compound annual growth rate (CAGR) of 16.8% considering that 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 anticipated to grow at a CAGR of 13.4% from 2025 and reach $39 billion in 2030. The global 3D printing market is a quickly growing and versatile industry due to its ability to abide by numerous markets, expense effectiveness, and performance. 3D printing helps to develop parts for the manufacturing of engines in the automotive market, produces models for homes that impose designers be more innovative, helps produce lighter tools, and is inexpensive for numerous markets such as health care and building.

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 business, 3D printer producers, 3D printer market size, and 3D printer market projections. The report also covers the global 3D printer market and its sections. The 3D printer market is segmented by type into desktop 3D printer and industrial 3D printer; by technology into stereolithography, merged 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 market into vehicle, aerospace & defense, healthcare, food, building & architecture.

Within the 3D printer market segmented by end-user market, the healthcare market is among the fastest growing sectors in the market. The health care 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 development rate of 19.1%.

3D printing has actually been capturing attention in the health care field because of its prospective to improve treatment for certain medical conditions. Key applications of 3D printing in health care include 3D-printed orthopedic implants, personalized surgical treatment that involves developing patient-specific designs of organs and surgical tools and utilizing patients' own medical imaging and medical and oral devices such as prosthetics, dentures, and braces.

The increasing need for prototyping applications in different industry verticals including aerospace & defense, automobile, and health care is likely to increase the demand for the 3D printer market throughout the forecast period. The development of the end-use industry is predicted to sustain the need for a 3D printer for prototyping applications.

The 3D printer market is fragmented with a large number of gamers running in the market. The key players in the market are focusing on expanding operational and business existence in the 3D printer market through brand-new item advancement & launches with advanced ingenious features, and strategic acquisition of emerging companies in the industry. The leading ten competitors in the market made up to 12.4% of the total market in 2020. Major gamers in the 3D printer market include 3D Systems Corporation, Stratasys Ltd, GE Company, EOS GmbH, and HP. 3D Systems Corporation was the largest rival with 3.09% of the marketplace followed by others.

3D Printer Global Market Report 2021: COVID-19 Growth And Change To 2030 is among a series of new reports from The Business Research Company that provide 3D printing market introductions, examine 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 chauffeurs, 3D printing market restraints, 3D printing market leading competitors' earnings, profiles and market shares in over 1,000 market reports, covering over 2,500 market segments and 60 geographies.

The report likewise gives in-depth analysis of the impact of COVID-19 on the 3D printing market. The reports make use of 150,000 datasets, extensive secondary research, and unique insights from interviews with industry leaders. An extremely knowledgeable and skilled team of analysts and modelers offers market analysis and projections. The reports recognize leading countries and sectors for opportunities and methods based on market patterns and leading rivals' techniques.

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