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, 2020 - 2027

Report Overview 

The global 3D printed wearables market size was valued at USD 3.0 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 8.2% from 2020 to 2027. 3D printing technology involves the manufacturing of the medical device and other products layer by layer. The rising emphasis of manufacturers on 3D printed wearable products is estimated to boost the growth of this market. As recently established 3D printed wearables are anticipated to overcome the shortcomings of conventional products, 3D printed wearables sales are expected to rise shortly.

The major factor driving the market for 3D printed wearables is the increasing demand for uniquely designed products. With the help of 3D printing companies can design a device as per customers’ requirements. The other factors driving the market for 3D printed wearables are the increasing focus on health by both the general public and consumer technology companies. For instance, with the help of 3D printing technology, sports manufacturers have to produce shoe soles that increase diabetics' sensory perception. With the help of these shoes, diabetic patients can walk more comfortably and these shoes can also be custom designed for each patient. 

At present, there is a more burden on manufacturers of medical devices and pharmaceutical companies by both the government as well as customers to be environmentally and socially conscious. Hence with the help of 3D printing transportation cost is dramatically reduced. Although the market is still a niche market, it is anticipated to increase in the coming years.

3D Printed Wearables Market Trends

The rising prevalence of diabetes worldwide is anticipated to boost the market growth. Antimicrobial resistance, adoption of unhealthy & sedentary lifestyles, alcohol consumption, and smoking are some of the major factors contributing to the rise in the prevalence of diabetes. According to the National Diabetes Statistic Report 2017, published by the CDC, over 100.0 million people in the U.S. were living with diabetes or prediabetes conditions. In addition, the WHO reported that in 2016 approximately 1.6 million deaths globally were directly caused due to diabetes.

According to the WHO, currently, chronic diseases—such as respiratory disorders, diabetes, cancer, & cardiovascular diseases—account for nearly 60.00% of the total number of deaths and 43.00% of the global burden of diseases. These percentages are likely to increase to about 73.00% and 60.00%, respectively, by 2021. The increasing prevalence of chronic conditions is expected to boost the demand for effective treatment options.

In addition, more than 113,000 people in the U.S. were awaiting transplants as of 2019 and nearly 20 people die each day waiting for a transplant, according to the U.S. Government Information on Organ Donation and Transplantation. Thus, the high prevalence of kidney diseases along with the shortage of organ donors is expected to boost the need for advanced regenerative medicines and tissue engineering technologies and devices, such as 3D printed wearables, thereby propelling the market growth.

Additive manufacturing, also known as 3D printing, is regarded as the next industrial revolution in manufacturing, with a high potential to provide cost-effective methods to achieve complex and customized medical components & parts, such as organs, orthopedic & cranial implants, tissues, dental prosthetics, and others.

The high cost of R&D and enhancement of integration methods is also required to overcome statistical challenges arising due to the integrated analysis of high-throughput biomedical research and genomic data. The constant addition of new genomes in public sequences databases is also leading to errors, hence making standardization crucial for optimum results of simulation and modeling.

The shortage of well-trained scientists in biology and computers is expected to restrain market growth over the forecast period. There is a high demand for scientists with unique strengths in medicine, mathematics, biology, and physical sciences. The data required for research is ever-growing and pharmaceutical companies are now in need of scientists who can conduct backward investigations.

Product Type Insights

The prosthetics segment accounted for the largest revenue share of over 35.9% in 2019. The large share of this segment is attributed to the rising prevalence of chronic diseases and the increasing demand for prosthetics implants in developing countries. An increasing number of amputation cases globally and a rise in limb amputation due to cardiovascular disease are other factors likely to fuel segment growth during the forecast period.

Also, factors such as technological evolution, increasing prevalence of vascular disease, and increased demand for prosthetics are further anticipated to boost market growth over the forecast period. The growing usage of connectivity technologies such as microprocessor controllers, Bluetooth, and myoelectric technology has resulted in the growing demand for such devices. Additionally, the developments in material sciences have announced the use of carbon fiber materials and thermoplastics in developing robotic amputation devices, which is reducing the cost and also improves the overall efficiency of devices. The increasing demand for these advanced products in technologically advanced countries and increasing awareness are the other features likely to drive the market for 3D printed wearables over the forecast period.

End-user Insights

Based on end-user, the academic institutes' segment accounted for the largest revenue share of 36.2% in 2019. This is due to the rapidly increasing patient population and increasing investment in R&D of 3D printed wearable devices. Increasing investment in the 3D printing industry by prominent players in the market to enhance their productivity and efficiency has driven the manufacturers to increase their focus on these activities.

Increasing focus on the 3D printed wearables and growing R&D spending are major factors responsible for the growth of this segment. Also, the other segment such as medical and surgical centers is expected to witness growth over the forecast period due to increasing demand for 3D printed wearables and a reduction in operative and infection risks.

Regional Insights

North America dominated the 3D printed wearables market and accounted for the largest revenue share of 40.6% in 2019. The region is anticipated to continue its dominance over the forecast period. This growth can be attributed to a rapid increase in the development of 3D printed wearables to meet the growing demand for efficient healthcare in the country and strong R&D & promotion of new therapies. In addition, North America is the top manufacturing hub for highly reliable, complex, and high-end 3D printed wearable and medical devices. This, in turn, is anticipated to propel the growth of the market for 3D printed wearables.

The U.S. healthcare infrastructure comprises multispecialty hospitals & clinics, the adoption of healthcare products and services is also due to high per capita income & consumer awareness about the emerging technologies. The country also has a high pool of 3D-printed wearables manufacturing companies with a robust distribution network.

Germany has one of the oldest and most well-developed public healthcare support systems with robust national social health insurance, including marginalized communities, which has improved access to advanced treatment. Strong government support and the presence of big and small 3D printing firms in Germany make it an ideal place for investment. For instance, the Fraunhofer Additive Manufacturing Alliance integrates 18 Fraunhofer institutes across the nation to deal with subjects related to 3D printing and the entire value chain.

Rapid technological advancements and growing demand for 3D printed wearable devices are factors expected to drive the market in the region. Moreover, various medical device manufacturing companies are focusing on the market due to the booming healthcare industry in the region. Increasing investments in 3D printing and rising R&D spending are also contributing to the growth of the market in the region.

Key Companies & Market Share Insights

Key companies are engaging in partnerships, mergers, and acquisitions, aiming to strengthen their product portfolio, and manufacturing capacities, and provide competitive differentiation. Some of the prominent players in the 3D printed wearables market include:

• Arcam AB

• Cyfuse Biomedical

• Koninklijke Philips N.V.

• Zephyr Technology Corporation

• Omron Corporation

• Everist Health

• LifeWatch AG

3D Printed Wearables Market Report Scope

Segments Covered in the Report 

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global 3D printed wearables market report on the basis of product type, end user, and region:

• Product Type Outlook (Revenue, USD Million, 2016 - 2027)

  • Prosthetics

  • Orthopedic Implants

  • Surgical Instruments

  • Smart Watches

  • Fitness Trackers

• End-user Outlook (Revenue, USD Million, 2016 - 2027)

  • Hospital

  • Pharma and Biotech companies

  • Academic Institutes

  • Others

• Regional Outlook (Revenue, USD Million, 2016 - 2027)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Spain

    • Italy

  • Asia Pacific

    • India

    • Japan

    • China

    • South Korea

    • Australia

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE