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Global 3D Printing in Healthcare Market is expected to grow at CAGR 20.1% by 2028 due to increased demand for implant customizations during surgical procedures, says Absolute Markets Insights

Published On 04 Nov 2020 02:14 PM


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3D printing is a relatively modern, rapidly growing production method that has found various applications in the industries of healthcare, automotive, aerospace and defense and across many different fields. The medical industry is considered to be most innovative in the manner in which new therapies and technologies have been developed. Using 3D printers is one of the ways in which the medical industry has been enhanced and developed. In healthcare 3D printing makes it possible for medical practitioners to offer a modern method of treatment to patients in a variety of ways. 3D printing is used to produce modern surgical cutting and drilling manuals, prosthetics, organ, and blood vessel replicas. Stronger and safer goods, light in weight and lower costs have resulted in recent developments in 3D printing in healthcare. With the help of 3D printing custom parts to each person according to the requirements are being made, this increases medical professional’s knowledge of patients and improves the degree of patient comfort by facilitating engagement with items designed specifically for their anatomy. 3D printing provides methodologies that can make complex concept production an obvious reality. Healthcare 3D printing technology meets the growing demands of medical care by offering a wide variety of applications based on the needs of individuals.

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The principle of 3D printing is new and has gained commercial availability recently. In the medical domain 3D printing technology has much more potential also 3D printing in the healthcare industry is now commonly used as technology progresses. The increasing use of this technology in many applications such as transplantation, drug delivery, 3D printed organs and many others sectors in the healthcare industry is one of the primary drivers in the global 3D printing in Healthcare Area. The global 3D printing market in healthcare is also driven by increased demand for implant customizations during surgical procedures coupled with rising R&D investments by major market players. 3D printing has the ability to manufacture highly complex and personalized components, single pieces, or small batches of products using cost-efficient methods. There is an increasing adoption of printing technologies by dental laboratories and hearing aid makers. Because of technologies and technical advances, a rising number of hearing aid makers are adopting 3D printed technology making it one of the key factors to positively push this industry over the period. The need for personalized processes has increased with a growing number of procedures for dental implants the capabilities of 3D printing technologies for a wide range of applications in the healthcare sector are being explored at a rapid pace across developed markets. The growth of 3D printing in healthcare is influenced by factors such as technical developments leading to increased use of this technology in the medical sector. In the dental and orthopedic sector the most important applications are the development of various types of instruments. Even the most advanced fields like 3D tissue, organ and bone printing are showing significant growth rates and are beginning to spread significantly. Reducing mistakes, production costs & time and the ability to create personalized products are the factors that drive the 3D printing healthcare industry. It is anticipated that growing variety of applications in healthcare and biomedical applications would generate lucrative opportunities for 3D printing in healthcare market. In addition increase in healthcare spending by the government will further boost the growth of 3D printing in healthcare market. 3D printing is a great solution for this industry due to the individualized nature of healthcare, manufacturing a large number of similar parts and 3D printing allows the production of personalized prosthetic devices suited to the complex anatomy of a patient.

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During the COVID-19 pandemic the true benefit of 3D printed medical devices are adopted increasingly. Doctors and nurse practitioners are engaged in crisis management and are seeking to make the best of the tools that are available. Many hospitals are at risk of being flooded with cases of COVID-19 and are doing whatever they can to help flatten the curve and avoid the occurrence of worst-case scenarios. The shortage of respirators on hand that are required to treat COVID-19 is one of the biggest challenges faced by healthcare institutions across the world. To save a number of lives, hospitals are packed to the full with patients and hospitals are facing shortages of equipment. There is a respirator shortage in hospitals but 3D printing technology is aiding in providing essential parts of a respirator using a 3D printer.

During the forecast period photo polymerization segment is expected to be the most attractive in the 3D printing in healthcare market. This is due to a significant number of applications of this technology for the manufacture of surgical guides, porous scaffolds, prosthetics, implants, and dental restorations in the healthcare industry. North America has the largest market share of medical devices for 3D printing, followed by Europe. The increase in demand for organ transplants is the largest in North America also the presence of highly established healthcare infrastructure and the enormous investment of government and various private companies in the production of advanced 3D printing technologies and applications are the main elements driving the growth of the market.

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Some of the players operating in the 3D printing in healthcare market include 3T RPD LTD., Arcam AB, 3D Systems Corporation, Envision Tec GMBH, EOS GMBH Electrical Optical System, Concept Laser GMBH, Prodways, Renishaw, Materialise NV, Stratasys LTD. and other market participants.

The detailed research study provides qualitative and quantitative analysis of the global 3D printing in healthcare market. The 3D printing in healthcare market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America

Global 3D Printing in Healthcare Market

  •  By Technology 
    • Laser Beam Melting Technology (LBM)
    • Photo Polymerization
    • Droplet Deposition
    • Three-Dimensional Printing (3D Printing)
    • Electron Beam Melting Technology (EBM)
  • By Medical Product 
    • Surgical Instruments
    • Surgical Guides
    • Prosthetics and Implants
    • Tissue Engineering Servers
  • By Component
    • Materials
    • 3D Printing Equipment
    • Service & Software
  • By Application
    • Dental Implants
    • Cranio-Maxillofacial Implants
    • Orthopedic Implants
  •  By Region:
  • North America
    • U.S.
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Finland
      • Iceland
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • New Zealand
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • Kuwait
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

 

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Press Release Provided By: Absolute Markets Insights