Decreasing costs of raw materials used in 3D printers, mounting import penetration, strong competitive pressures, and technological advancements have placed downward pressure on prices. "Most importantly, the constant innovation and improvement in 3D printers have consistently slashed manufacturing costs," says procurement research analyst Agiimaa Kruchkin.

For years the 3D printer space has been dominated by two major players, Stratasys Ltd. and 3D Systems Inc., which together account for more than 55 percent of the market. That kind of share limits competition and has kept prices for machines relatively high. But an influx of new vendors has boosted competition and placed downward pressure on prices. In 2015, there were an estimated 100 suppliers: 70 manufacturers and about 30 retailers and distributors. New manufacturers are expected to enter the market in 2016.

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