Global 3D Printed Wearables Market to Reach $6.7 Billion by 2030 at a CAGR of 8%
DUBLIN, Oct. 5, 2022 /PRNewswire/ -- The "3D Printed Wearables Market Size, Share & Trends Analysis Report by Product Type (Prosthetics, Orthopedic Implants), by End-user (Hospital, Pharma & Biotech Companies), by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The global 3D printed wearables market size is expected to reach USD 6.7 billion by 2030, according to this report. It is expected to expand at a CAGR of 8.0% from 2022 to 2030. 3D printed wearable technology has witnessed high adoption in the healthcare industry. Due to numerous technological innovations in the sector, the market is expected to witness significant growth over the forecast period.
The demand for 3D printing is on the rise due to technological advancements such as customization of products to fit a customer's requirement and low-cost 3D printed products. Moreover, numerous manufacturers have invested in the R&D of 3D printed wearables owing to increasing demand in the healthcare industry. Various companies such as Boeing have invested in 3D printing to gain a competitive advantage and reduce the overall manufacturing cost of an aircraft. It provides the opportunity to upsurge the life cycle of a product with the help of advanced technology.
The COVID-19 pandemic has negatively affected industry growth. The pandemic has adversely affected the business operations and financial condition of the market players. In the first quarter of 2020, the COVID-19 outbreak disrupted the global supply chain of raw materials and manufacturing parts of 3D printing products. These factors resulted in an increase in the cost of the product due to the increase in the cost of raw materials and shipping charges. The third and fourth quarters of 2020 reflected a lucrative growth in the sales and revenue of the 3D printed products, which further improved due to the launch of advanced technological products at an affordable cost.
North America accounted for the largest revenue share of over 40.0% in 2021 owing to the increasingly aging population, and numerous technological innovations in the devices such as the new hybrid 3D printing technology developed in Wyss Institute at Harvard University that provides more precision at low-cost manufacturing, and increasing investment in R&D. In addition, an increase in the scope of biomedical applications, collaborations between academic institutions and hospitals, and widespread R&D activities at the industrial and academic level have fueled the industry growth. Also, the presence of major players in the region contributed to market growth.
Market Dynamics
Market Drivers
- Growing Demand for Wearable Devices
- Increasing Cases of Diabetes and Other Chronic Diseases
- Rising Investment in R&D of 3D Printing
Market Restraints
- Stringent Regulatory Policies
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. 3D Printed Wearables Market Variables, Trends & Scope
Chapter 4. 3D Printed Wearables Market: Segment Analysis, By Product Type, 2018-2030 (USD Million)
Chapter 5. 3D Printed Wearables Market: Segment Analysis, by End-user, 2018 - 2030 (USD Million)
Chapter 6. 3D Printed Wearables: Regional Market Analysis, 2018-2030 (USD Million)
Chapter 7. 3D Printed Wearables: Competitive Analysis
Companies Mentioned
- 3D Systems Corporation
- EnvisionTEC
- Stratasys Ltd.
- Arcam AB
- Cyfuse Biomedical
- Koninklijke Philips N.V.
- Zephyr Technology Corporation
- Omron Corporation
- Everist Health
- LifeWatch AG
For more information about this report visit https://www.researchandmarkets.com/r/p2flpm
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SOURCE Research and Markets
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