3D Printing Market in Healthcare, Growth, Key Players, Analysis & Forecast 2024

Posted by Yash Chauhan on March 19th, 2019

Industry Overview

The 3D printing market in healthcare has witnessed significant growth rates in the last decade, owing to the increased demand for implants worldwide. The market has seen a great requirement for surgical guides over the last few years due to rising usage of the digitally focused process for precise surgical preparation.

Market Segmentation

Insight by Component

1. Materials— bioprinting biomaterial, metal & metal alloys, plastic, and others
2. Service and software
3. Equipment — 3D printers, 3D bioprinters

Service and software segment held the largest share in the 3D printing market in healthcare owing to the intensifying improvement of advanced software solutions to manufacturing high-quality 3D printed medical products. Moreover, the equipment segment is expected to register the highest CAGR in the coming years.

• Request for Sample Copy of Research Report at: https://www.vynzresearch.com/healthcare/3d-printing-market-in-healthcare/request-sample

Insight by Technology

1. Photopolymerisation
2. Electron beam melting
3. Laser beam melting
4. Laminated object manufacturing
5. Droplet deposition
6. Three-dimensional printing

Photopolymerisation has been witnessing the fastest CAGR in this segment owing to the extensive use of technology for manufacturing surgical guides, porous scaffolds, prosthetics and implants, and dental restorations systems.

Insight by Type

1. Surgical guides
2. Tissue engineering products
3. Prosthetics and implants
4. Surgical instruments

Surgical instruments have registered the highest CAGR in this segment owing to the increased usage of the digitally focused process for precise surgical preparation.

Insight by End User

1. Hospitals
2. Ambulatory Surgical Centers
3. Others

The hospitals accounted for the largest market share in the 3D printing market in healthcare and the market for ASCs is expected to witness the fastest growth during the forecast period.

Industry Dynamics

Growth Drivers

The key growth drivers of this industry are the following:

1. Rising need for implants
2. Technological advancements
3. Growing applications of 3D printing in the healthcare industry
4. Escalating public-private funding
5. Increasing awareness regarding personal care
6. Effortless development of customized and personalized medical products
7. Direct digital production
8. Expiry of key patents
9. The increasing number of patients with dental problems and hearing loss
10. Rising healthcare expenditure
11. Expanding geriatric population
12. The growing need for organ transplants

Challenges

Some of the major challenges faced by the key players in this industry are:

1. Social and ethical concerns related to the usage of 3D-printed products
2. Strict regulatory procedures for the approval of the 3D printed medical devices
3. The high cost of advanced 3D printers
4. Patent issues related to 3D printing
5. Lack of trained professionals

Growth Drivers

Industry Ecosystem

The newcomers in this industry are needed to adhere to strict regulatory standards while overcoming difficulties like the requirement of high initial capital investment and the intense competition in global markets. This lowers the threat of new entrant to some extent in the 3D printing in the healthcare market

Geographic Overview

1. Asia Pacific
2. North America
3. Europe
4. Rest of the World

North America holds the largest market share in 3D printing in the healthcare industry, owing to the high demand for organ implants in this region. Asia-pacific is expected to grow with the highest CAGR owing to the increasing adaptation of 3D printing medical devices in this region.

Competitive Insight

Key players in the 3D printing market in healthcare are 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