Portland, OR, Oct. 04, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, 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. The report provides an extensive analysis of changing market dynamics, top segments, top investment pockets, regional landscape, value chain, and competitive scenario.
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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.
Covid-19 Scenario:
- Owing to shortage of equipment needed to increase number of patients suffering from Covid-19 infection, the demand for 3D printing in the healthcare sector increased during the pandemic.
- However, manufacturers faced challenges in terms of manufacturing and supply chain due to lockdown measures and unavailability of workers. Investors postponed the plans of investments in new projects.
- Non-elective surgeries were postponed, which in turn, led to reduced demand for 3D printing equipment in the healthcare sector.
The report offers detailed segmentation of the global 3D printing in healthcare market based on component, technology, application, end user, and region.
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.
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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 of the global 3D printing in healthcare market analyzed in the research include 3D Systems Corporation, Formlabs Inc., Exone Company, Materialise NV, General Electric, Organovo Holdings, Inc., Oxferd Performance Materials, Inc., SLM Solutions Group AG, Proto Labs, and Stratasys Ltd.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
