Albany, NY -- (SBWIRE) -- 10/17/2018 -- 3D printing or an additive manufacturing is a process that uses a layer by layer method approach to create a real or physical object from a digital design. The technology is still in its early stage in healthcare and holds strong potential for a wide variety of medical applications. The global market for 3D printing medical devices has witnessed massive advancements in the past few years and several new 3D printing technologies, materials, and devices have entered the global marketplace.

By component, the global 3D printing medical device market is segmented into printer, material, software and services. Of these, the segment of software and services contributed the largest share to the global market in 2016 and is anticipated to grow at a decent compound annual growth rate during forecast period owing to increased support and maintenance services provided by this segment. This is the result of already installed printers in the market, and to provide installation services, support and maintenance of these printers, there is a growing demand for software and services segment. Over the forecast period, the materials segment is anticipated to grow at a prominent rate.

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Tremendous technological advancement happening in the 3D printing sector after the arrival of this concept is pushing the global 3D printing market to perform better. This is because the 3D printing sector finds its abundant usage in healthcare sector apart from construction, military and automobile sector. The 3D printing medical device has recently gained popularity among the patients.

It has gained the trust of both doctors and patients, thus fueling the market growth. Rise in need 3D printing medical device for implants, surgical instruments, tissue fabrication, surgical instruments, and prosthetics has increased the demand for these device.

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Thought the 3D global medical device is expected to grow at a steep rate, but strict regulations in various countries regarding the sale of these devices imposed by both private and government agencies is expected to deter the market growth rate. The market is also challenged by the high initial cost of such devices.

Other factors such as heavy funds required for a small organization to have a strong foothold in the market is curbing the growth rate. Another major factor which is expected to bring down the growth rate of the market is absence of skilled expertise and the lack of accessibility of such advanced device in the rural or underdeveloped region. Though the inflow.

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