Healthcare 3D Printing Market
Number of pages: 100 | Report Format: PDF | Published date: 10 February, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
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Report Attribute |
Details |
|
Market size value in 2021 |
US$ 2.4 billion |
|
Revenue Forecast in 2030 |
US$ 9.13 billion |
|
Growth Rate |
CAGR of 16% from 2022 to 2030 |
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Base year for estimation |
2021 |
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Forecast Year |
2022-2030 |
|
Historical Year |
2020 |
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Segments Covered |
Technology, Component, Application, End user, and Region. |
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Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
The global healthcare 3D printing market was valued at US$ 2.4 billion in 2021 and is expected to witness a CAGR of 16% during the forecast period from 2022 to 2030.
Market Fundamentals
Additive manufacturing, also known as 3D printing, produces three-dimensionally solid products that are mostly used in the healthcare industry. To create 3D-printed products, additive manufacturing procedures are used. The additive manufacturing technique involves building up layers on top of one another to construct an object. The layouts appear as very thinly sliced layers when seen as a cross-section of the product. With the aid of this technique, customized medical equipment and tools are produced for use in the healthcare industry. A broader range of industries may now use 3D printing because of its many advantages over traditional manufacturing techniques. Healthcare 3D printing technology is known to be utilized in burn treatment, bioprinting, and tissue engineering. Such technology has made it possible for 3D printing to produce layers of human skin that preserve the lives of people who have experienced serious accidents and severe injuries. Many hospitals have been using these devices, which has increased demand for such cutting-edge technology and positively impacted the market. In order to offer specific advances in healthcare, including 3D printing that enables scanning via smartphone devices, several industry firms have concentrated their efforts on R&D activities.
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Market Dynamics
Public-private funding supporting various 3D printing industry activities has significantly increased. Such research and financing initiatives are anticipated to accelerate the development of 3D printing technologies and goods, consequently bolstering the healthcare 3D printing market. For instance, in September 2020, to create the nTop software platform for additive manufacturing processes, nTopology (US) raised US$ 40 million in funding. Moreover, enormous potential is anticipated to present itself for the global healthcare 3D printing market during the projected period due to the increase in bone and musculoskeletal injuries as well as the rising prevalence of demand for 3D anatomical components. Additionally, the uses of 3D printing in healthcare have expanded significantly. Bones, hearing aids, cell cultures, exoskeletons, windpipes, eyeglasses, tissues, stem cells, blood vessels, vascular networks, organs, novel dosage forms, and medication delivery systems are all produced using 3D printing. For many biotech corporations, developing tissues and organs for medical research is a top aim. In order to study how pharmaceuticals alter the way those organs operate, several research centers are observed collaborating with researchers to construct artificial organs. It is anticipated that the animal rights movement's popularity would encourage 3D printing during the pre-human clinical testing stages.
Market Ecosystem
The global healthcare 3D printing market has been analyzed from five perspectives: Technology, Component, Application, End user, and Region.
Healthcare 3D Printing Market by Technology
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Based on technology, the global healthcare 3D printing market has been segmented into electron beam melting (EBM), laser beam melting (LBM), photopolymerization, droplet deposition, three-dimensional printing (3DP), and polyjet printing. Among these, laser beam melting (LBM) claimed the largest market share. The significant market share of this segment is linked to the technology's expanding use in the dental market and the production of implants for minimally invasive surgery.
Healthcare 3D Printing Market by Component
Based on components, the global healthcare 3D printing market has been segmented into 3D printers, 3D bioprinters, materials, and software & services. The market for healthcare 3D printing was dominated by the software and services segment. During the forecast period, the cost-effectiveness, utility, uniformity, and accuracy provided by medical device 3D printing services are anticipated to drive the segment's expansion.
Healthcare 3D Printing Market by Application
The global healthcare 3D printing market has been segmented based on application into surgical guides, prosthetics, and implants. The segment for implants and prosthetics held a greater market share. Biological materials (such as skin and bones), plastics, ceramics, and metals may be used to create highly customizable prosthetics and implants using 3D printing. The development of this sector is anticipated to be fuelled by the 3D printing of customized implants, which is pulling in new investors and medical device companies.
Healthcare 3D Printing Market by End User
Based on end users, the global healthcare 3D printing market has been segmented into hospitals, pharmaceutical & biotechnology companies, and academic institutions. The hospitals segment held the largest market share. The significant market share of this segment can be due to the increased uptake of cutting-edge medical technology by hospitals, the expansion of existing 3D printing facilities, and the rising affordability of 3D printing services.
Healthcare 3D Printing Market by Region
Based on region, the global healthcare 3D printing market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America will dominate the global markets throughout the predicted period owing to a combination of factors, including an aging population, a rise in cardiovascular disease incidence, and an increase in replacement and implant surgeries. Technological advancements in 3D printing technology will further extend the global 3D printing market demand. Moreover, the demand for the global 3D printing market will increase as a result of technological developments in 3D printing. Moreover, the extensive use of 3D printing technology and the numerous partnerships between commercial and academic institutions in this region is also healthcare 3D printing demand. Additionally, advances in 3D printing technologies, increased financing in the field of 3D printers, and that in the number of surgeries in this region have all contributed to the dominance of North America healthcare 3D printing market. The growth of the North America healthcare 3D printing market is also fuelled by an increase in product approval, product launches, and acquisitions by major firms operating in the space.
The fastest CAGR is anticipated for the Asia Pacific region during the forecast period from 2022 to 2030. The advancements in the medical manufacturing industry have contributed to the rapid adoption of the healthcare 3D printing market in the Asia Pacific. The automobile and healthcare industries are developing manufacturing hubs in the Asia Pacific region. Rapid urbanization and dominance in consumer electronics manufacturing are other factors boosting the healthcare 3D printing market.
Competitive Landscape
Some of the prominent market players in the global healthcare 3D printing include
Strategic Developments
North America is anticipated to dominate the global healthcare 3D printing market from 2022 to 2030.
The major players adopt organic and inorganic techniques such as mergers and acquisitions, new product launches, and upgrades.
The CAGR of the global healthcare 3D printing market is expected to witness ~16% during the forecast period from 2022 to 2030
Some of the prominent market players in the global healthcare 3D printing include 3D Systems Corporation, Exone Company, Stratasys Ltd., Formlabs Inc., General Electric, Organovo Holdings, Inc., Materialise NV, Oxferd Performance Materials, Inc., Organovo Holdings, Inc., Proto Labs, SLM Solutions Group AG, Stratasys Ltd., Biomedical Modeling, Inc., 3T Additive Manufacturing Ltd., 3D Systems Corporation, Prodways Group, DENTSPLY Sirona, Inc., DWS Systems SRL and Renishaw plc., among others.
The laser beam melting (LBM) segment dominated the global healthcare 3D printing market in 2021.
*Insights on financial performance are subject to the availability of information in the public domain
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Snehal Deshmukh
Principle Consultant
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