|Status : Published||Published On : Dec, 2021||Report Code : VRHC1064||Industry : Healthcare||Available Format :||Page : 300|
The global 3D market in healthcare was valued at 1.04 billion in 2020 and is anticipated to reach USD 5.79 billion in 2027, witnessing a CAGR of 19.8% during the forecast period 2021-2027. 3D printing technology produces and manufactures customizes medical equipment, medical devices, prosthetics and products. The global 3D printing market in healthcare is growing at significant rate, due to mounting need for implants. Different types contributed to the 3D printing market in healthcare size. The market has witnessed high demand for surgical guides over the last few years due to mounting usage of the digitally focused process for precise surgical preparation.
Insight by Component
There are three components, materials, service and software and equipment. Of all components, service and software segment accounted the largest share in the 3D printing market in healthcare, due to intensifying improvement of advanced software solutions to manufacture high-quality 3D-printed medical products and mounting support and maintenance services. In addition, the equipment segment is expected to grow at fastest rate in the market. The component segment is further subdivided into 3D printers and 3D bioprinters. In addition, the material segment is further subdivided into bioprinting biomaterial, metal & metal alloys, plastic and others.
Insight by Technology
On the basis of technology the market is subdivided into photopolymerization, electron beam melting, laser beam melting, laminated object manufacturing, droplet deposition and three-dimensional printing. Extensive usage of technology for manufacturing surgical guides, porous scaffolds, prosthetics and implants, and dental restorations system are some of the factors responsible for the growth of the photopolymerization segment. Of all the technologies, the photopolymerization account foremost share in the 3D printing market in healthcare.
Insight by Type
On the basis of type the market is subdivided into surgical guides, tissue engineering products, prosthetics and implants and surgical instruments. Mounting usage of the digitally focused process for precise surgical preparation is the factor growing the demand of surgical guides. Among the all types, the surgical guides accounted the largest share in the 3D printing market in healthcare.
Insight by End User
On the basis of end user the market is subdivided into hospitals, ambulatory surgical centers and others. Among the all end users, the hospitals accounted the largest share in the 3D printing market in healthcare.
Mounting need for implants, technological improvements, mounting applications of 3D printing in the healthcare industry, mounting public-private funding, mounting awareness regarding personal care, and effortless development of customized and personalized medical products are the primary growth drivers for 3D printing market in healthcare.
Direct digital production, expiry of key patents, mounting number of patients with dental problems and hearing loss, mounting healthcare expenditure, expanding geriatric population and mounting need for organ transplant are also facilitating the growth for the 3D printing market in healthcare.
Socio-ethical concerns related to the usage of 3D-printed products, strict regulatory procedure for the approval of the 3D printed medical devices, high cost associated with the advanced 3D printers, patent issues related to 3D printing and lack of trained professionals are the major challenges for the growth of 3D printing market in healthcare.
Globally, the manufacturing companies trying to enter the 3D printing market in healthcare are required to maintain stringent regulatory standards. Moreover, the high level of capital requirement also poses a major barrier for the entry of new players. This offers an edge to the established players in the industry competition.
Geographically, North America is the largest 3D printing in healthcare market as in the region the demand for organ transplants is increasing. In addition, highly developed healthcare infrastructure, expanding geriatric population, mounting need for implants, technological improvements, conferences and trade, mounting number of patients with dental problems and hearing loss and government & private assets to progress innovative 3D printing technologies & applications are also up surging growth of the North American 3D printing market in healthcare.
Asia-Pacific is observed to witness fastest growth in the market, due to mounting adoption of 3D printing medical devices. In addition, establishment of novel 3D printing research, education and training centers, expanding geriatric population, improving healthcare infrastructure, mounting number of patients with dental problems and hearing loss, large population base and mounting healthcare expenditure are also creating a positive impact on the 3D printing market in healthcare growth in the region.
Key players in the 3D printing market in healthcare are catering the demand of these devices by investing on technologically advanced products in their product portfolio across the globe. In June 2018, 3D Systems introduced DMP Flex 100 and DMP Dental 100 3D printers, to provide versatility and material for entrance level metal 3D printing and dental applications.
In addition, in February 2018, EnvisionTEC launched 3D printing orthodontic models to create clear thermoformed aligners. Stratasys Ltd., Renishaw plc, Concept Laser GmbH, EnvisionTEC GmbH, 3T RPD Ltd, Materialise NV, 3D Systems Corporation, Arcam AB, Prodways Group and EOS GmbH Electro Optical Systems are the key players offering 3D printing in healthcare.
Source: VynZ Research