Global 3D Printed Wearables market to surpass USD 6.5 billion by 2030 from USD 3.1 billion in 2020 at a CAGR of 8.05 % in the coming years, i.e., 2021-30. The Global 3D Printed Wearables is expected to grow due to several technological advances and increasing demand for customized products. Furthermore, the high adoption of 3D Printed wearables in the healthcare sector is anticipated to propel market growth.
3D printing also known as additive manufacturing is a novel method of creating a 3-dimensional object by depositing layers of printing material. 3D Printing turns digital models into real-life objects by using a technique called layering. This tool-less method assists in producing fully dense metallic parts in less time with high precision. 3d printed technology has gained popularity in the last couple of years by creating 3D printed wearables for consumers. The 3D printed wearable market includes a wide range of wearables such as fitness trackers, smartwatches, textiles, and sports equipment. Introduction of 3D metal printing technology has enabled the manufacturers to manufacture complex structures with design flexibility which could not be obtained with the help of old and conventional technique.
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Global 3D Printed Wearables Market: Key Players
- General Electric (GE) Co
- Koninklijke Philips N.V.
- Medtronic PLC
- Omron Corporation
- Nike, Inc.
- Under Armour, Inc.
- 3D Systems Corporation
- BioTelemetry, Inc.
- Cyfuse Biomedical K.K
- Everist Health, Inc.
- Other Prominent Player
Global 3D Printed Wearables Market: Segments
Prosthetics segment to grow with the highest CAGR during 2021-30
Global 3D Printed Wearables market is segmented by Product Type into Prosthetics, Fitness Trackers, Orthopedic Implants, Smart Watches, and Surgical Instruments. Prosthetics, the segment held the largest market share in the year 2020 owing to the escalating demand for prosthetic implants particularly in developing economies. Additionally, growing incidences of chronic diseases may contribute to the growth of the segment.
Academic Institutes Segment to grow with the highest CAGR during 2021-30
Global 3D Printed Wearables market is distributed by the end-user into Academic Institutes, Pharma & Biotech companies, Hospital, and others. Academic Institutes Segment held the largest market share in the year 2020 due to the rising investments towards research and development activities by key industry players.
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Growing consumer preference towards customized products
Increasing demand for uniquely personalized products is expected to drive the 3D Printed wearables market.3D Printing technology allows the manufactures or companies to design a product according to consumer prerequisites. This would make the manufacturing process easy thereby making the product more attractive and appealing to the customers.
Increasing demand for wearable healthcare devices
Increasing focus on health by consumers as well as by the consumer technology companies is projected to boost the 3D Printed wearable market in the coming years. The incorporation of various advancements in 3D printing has enabled the manufacturers to create a wide array of devices exclusively for medical applications. with the assistance of 3D printed medical devices, consumers can gather information such as step counts and pulse rate.
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The high cost associated with 3D printing wearables is expected to hinder the market over the forecast period. The material and technology used to produce 3D printed pieces can be expensive.
Global 3D Printed Wearables Market: Regions
Global 3D Printed Wearables market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Global 3D Printed Wearables market in North America held the largest market share in the year 2020. North America will continue to dominate the global 3D Printed Wearables market due to the rising disposable income and growing consumer inclination towards personalized products. Also, the adoption of the latest and innovative technology in the region is estimated to proliferate in the market in the coming years.
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