A large number of small- as well as medium-scale companies have forayed into the global 3D printing medical devices market, thus leading towards a highly intense competitive landscape, says Transparency Market Research on the basis of a newly published report. A brisk rise in collaborations carried out among many players is expected to strengthen the vendor landscape in forthcoming years. Apart from collaborations, product differentiation, expansion of product portfolio, and research and development are three prominent strategies implemented by most companies in this market.
Extensive technological advancements occurring in the 3D printing sector since the advent of this concept is primarily responsible for the global 3D printing market to depict a fantastic performance. This is mainly due to the ample applications of the technology in the field of medicine, apart from being equally useful in construction, automobile, and military.
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A rapidly increasing rate of healthcare practitioners adopting 3D printing services and a rising number of patients embracing medical devices manufactured from 3D printing is also primarily driving the market. A mushrooming demand for 3D printed medical devices has occurred mainly due to increased utilization of implants, prosthetics, surgical instruments, dental restorations, and tissue fabrication.