3D Printing in Healthcare Market Summary
The global 3D Printing in Healthcare Market generated $1.03 billion in 2020, and is estimated to reach $5.84 billion by 2030, witnessing a CAGR of 20.1% from 2021 to 2030.
Applications:
- Medical Devices: Orthopedic implants, surgical instruments, dental restorations, and external prosthetics.
- Surgical Planning:3D models for visualizing complex anatomy and planning surgical procedures.
- Tissue Engineering and Regenerative Medicine:Creating customized implants and prosthetics.
- Bioprinting:Printing tissues and organs for research and potential future treatments.
- Customized Implants and Prostheses:Creating personalized devices tailored to individual patient needs.
Drivers:
- Technological Advancements: Improvements in 3D printing technology and material science.
- Customization and Personalization: The ability to create unique devices for individual patients.
- Increased R&D Investments: Growing research and development in 3D printing for healthcare applications.
- Expanding Biomedical Applications: Growing use of 3D printing in various medical fields.
Additive manufacturing, alternately known as 3D printing, refers to a layer-by-layer addition technique of producing a three-dimensional physical object process by using digital 3D design data through a computer aided design (CAD) package. The global 3D printing in healthcare market has witnessed dynamic growth in the recent years, owing to rapid technological advancements, increase in investments in R&D activities, and rapid expansion of customer base. Furthermore, the customizations offered by this technology, increase in scope of biomedical applications, efficient material usage, and reduction in cost & time are the major factors supplementing the growth of the market. In addition, the utilization of 3D printing technology in the healthcare sector is anticipated to facilitate effective pre-operative planning, better surgeon practice, enhanced patient outcomes, and suitable alternative to animal testing.
Technological advancements in 3D printing, customization & personalization, surge in R&D investments, and rise in biomedical applications drive the growth of the global 3D printing in healthcare market. However, high cost, increase in reimbursement challenges, and lack of skilled workforce hinder the market growth. On the other hand, increase in pharmaceutical applications and presence of bioprinting tissues & organs present new opportunities in the coming years.
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segmentation of the global 3D printing in healthcare market:
Based on component, the system segment contributed to the highest share in 2020, holding more than half of the total share, and is expected to maintain its lead position during the forecast period. However, the materials segment is estimated to manifest the highest CAGR of 21.2% from 2021 to 2030.
Based on end user, the medical & surgical centers segment held the highest share in 2020, accounting for nearly two-thirds of the global 3D printing in healthcare market, and is estimated to continue its lead in terms of revenue throughout the forecast period. However, the academic institutions segment is expected to witness the largest CAGR of 21.7% from 2021 to 2030.
Based on region, North America accounted for the highest share in 2020, contributing to more than two-fifths of the total share, and is projected to continue its dominance by 2030. However, Asia-Pacific is projected to portray the fastest CAGR of 21.7% during the forecast period.
Leading players:
- 3D Systems Corporation
- Formlabs Inc.
- Exone Company
- Materialise NV
- General Electric
- Organovo Holdings, Inc.
- Oxferd Performance Materials, Inc.
- SLM Solutions Group AG
- Proto Labs
- Stratasys Ltd
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