The global 3D printed wearables market size is expected to reach USD 5.5 billion by 2027, expanding at a CAGR of 8.2%, according to a new report by Grand View Research, Inc. 3D printed wearable technology has witnessed high adoption in the healthcare industry. Due to numerous technological innovations in this sector, the market is expected to show significant growth over the forecast period. The demand for 3D printing is on the rise, probably due to the technology's ability to customize products to fit a customer's requirements. Moreover, numerous manufacturers have invested in the R&D of 3D printed wearables owing to increasing demand in the healthcare industry.
Key suggestions from the report:
As per the survey, it is estimated that the healthcare wearable industry is estimated to reach USD 40 Million revenue by 2022 owing to the constantly improving quality of healthcare wearables and increasing aging population. Due to these factors, the demand for portable medical devices is seen increasing in near future, says a press release.
The 3D printed medical devices can collect info including steps counts a person has walked in a day and the pulse rate. The research within the technology is presently intensive on sensors and flexible materials and their ability to be both bendy and pliable. These properties are perfect for wearables particularly in products such as small discrete sensors and smartwatches.
North America accounted for the highest revenue share of 40.6% in 2019 owing to its increasingly aging population, numerous technological innovations in the devices, and increasing investment in R&D. In addition, 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 market growth. Also, the presence of major players in the region contributed to market growth.
Grand View Research has segmented the global 3D printed wearables market based on product type, end-user, and region:
3D Printed Wearables Product Type Outlook (Revenue, USD Million, 2016 - 2027)
3D Printed Wearables End-user Outlook (Revenue, USD Million, 2016 - 2027)
List of Key Players of 3D Printed Wearables Market