The US 3D printer manufacturer 3D Systems has reported a decline in sales for 2023. Revenue fell by 9.3 percent compared to 2022 to around 488 million dollars. Group CEO Jeffrey Graves cites the weakness in the dental market as the main reason for this.
According to Graves, sales of dental applications, particularly for orthodontics, fell by 39%. In addition, industrial and medical customers also invested less in new printer hardware. Although incoming orders recovered in the final quarter, sales failed to materialize.
In addition to the economic downturn, 3D Systems is also facing increased competition from cheaper suppliers. In order to remain competitive, the company wants to reduce costs through restructuring. Graves is aiming for a “relatively flat” sales trend in 2024. He is focusing on growth opportunities through new applications in medicine and industry.
3D Systems is considered a pioneer in 3D printing. The US company was founded in 1986 and launched one of the first printing processes on the market with stereolithography. Today, the Group offers a broad technology portfolio ranging from plastic to metal 3D printing. Further details on the figures can be found here.
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