Ottawa, Aug. 22, 2022 (GLOBE NEWSWIRE) -- The global 3D printing in healthcare market size was valued at USD 1.45 billion in 2021. The process of manufacturing dimensional solid products mainly for the healthcare sector it's called additive manufacturing. Additive procedures are made use of by the industry to create 3D printed objects. Successive layers are visible when cross section is taken of the entire product. The successive layers are placed over one another to create a 3D printed object. Many customized health care products are prepared by using this technology to produce the best results as desired by the consumer. The products manufactured with the help of this technology has many advantages as compared to the traditional surgery processes which are carried out for reconstruction.
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Key Takeaways:
- By component type, the system segment accounted 51% market share in 2021.
- The materials component segment is growing at a CAGR of 21.3% from 2022 to 2030.
- In 2021, the droplet deposition technology segment accounted 29% market share.
- In 2021, the external wearable devices application segment hit 38.7% revenue share.
- In 2021, the medical & surgical centers end user segment hit 45% market share in 2021.
- The academic institutions end user segment is expected to grow at a CAGR of 21.6% from 2022 to 2030.
- The North America hit 43% revenue share in 2021.
- Asia-Pacific is growing at a CAGR of 21.8% from 2022 to 2030.
Regional Snapshots
The geographical sector of North America has emerged as the leading market player for the growth of 3D printing in healthcare system. The existence of the key market players in this region has helped it to become a leading market player all over the globe. Devil ability of it will health care facilities which are supported by the government schemes has made this region a leading market player for 3D printing in healthcare system. Rapid adoption of modern healthcare facilities by the healthcare sector and the acceptance granted by the people has helped the market of 3D printing in healthcare to become rising star.
Biomedical application has emerged as a major growth factor which has helped the market to achieve a significant position in the global economy. The use of this technology in the pharmaceutical sector has helped this region to achieve a significant position. The European nations have also contributed significantly to the growth of the market.
Report Highlights
- On the basis of component, the segment of system has emerged as the largest market due to its huge demand among the health industries and pharmaceuticals. Better results are produced which attracts potential customers and hence the segment of system is considered as a leading market player.
- On the basis of technology, the segment of droplet deposition has proved to be the fastest growing market due to the huge demand experienced from the industries.
- On the basis of application, the segment of external wearable devices has emerged to be at the leading position due to the increasing demand among the people with the rapid increasing acceptance to modern technology.
- On the basis of end user, the surgical and medical centers have emerged as the leading market players due to the increasing demand for 3D technology which is used to carry out surgical procedures in the hospital sector that helps to provide better results.
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Scope of the Report
| Report Attributes | Details |
| Market Size in 2021 | USD 1.45 Billion |
| Revenue Forecast by 2030 | USD 6.21 Billion |
| CAGR | 17.54% from 2022 to 2030 |
| Largest Market | North America |
| Fastest Growing Region | Asia Pacific |
| Base Year | 2021 |
| Forecast Year | 2022 to 2030 |
| Key Players | Formlabs Inc., General Electric, 3D Systems Corporation, Exone Company, Materialise NV, Oxferd Performance Materials, Inc., SLM Solutions Group AG, Organovo Holdings, Inc., Proto Labs, Stratasys Ltd |
Market Dynamics
Drivers
The rapid advancements made by the healthcare system with the use of modern technology has emerged as a major driving force for the growth of the market. Rapid acceptance which has been granted to the 3D printing technology in the healthcare sector emerges as a major reason for the growth of the market. Personalization and customization of medical products is or desire of every patient which is fulfilled with the help of 3D printing technology in the healthcare sector. Increasing research and development which is carried out by the key market players has emerged as a major driving force for the growth of the market.
The huge number of patients who demand customized health care products has boosted the size of the market tremendously. Biomedical application has been a major factor for the growth of the market due to its rapid demand among the people.
Restraints
The cost which is associated with the use of 3D printing technology is considerably high as compared to the other options available in the market, which makes it a major restraining factor during the growth phase of the 3D printing in healthcare system market. The fluctuations which are seen in the reimbursement policies provided by the insurance companies has emerged as another major restraining factor for the growth of the market which makes it impossible for the people to opt for advanced treatment options.
Increasing rules and regulations regarding patent and copyright concerns how hampered the growth phase of the market to a great extent. The skilled professionals which are required in order to operate these highly developed machines difficult to find in the current market which stands as a major restraint for the market.
Opportunities
The application of 3D printing in the pharmaceutical sector has proved to be a major opportunity for the growth of the market. On the use of 3D printing in the pharmaceutical sector has helped the market players to make the products more appealing and attractive which has boosted the sales and demand market to a great extent.
Bioprinting tissues are available with the use of 3D printing technology in the healthcare sector which has emerged as another opportunity for the growth of the key market players. Bioprinting has also helped the health care sector to obtain a better picture of the health condition of the patients which helps the physicians to provide then with a better service. Multiple schemes and lucrative offers which are provided by the government has helped the 3D printing in healthcare market to achieve a tremendous growth over the period of time.
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Challenges
The rapid alterations which are made in the reimbursement policies offered by the insurance companies has made the condition very uncertain for the patients. The total cost of treatment rises to a tremendous figure which is unachievable for the common man. The increasing number of diseases in the society as a result of the modern lifestyle practices has challenged the key market players for introducing new medicines into the market. Lack of awareness among the people regarding the available treatment options has also challenged the growth of the market to a great extent. The market has been challenged with the presence of patent and copyright concerns which has hindered the growth of the market considerably.
Recent Developments
- A 3D dental and medical printer in the form of large format will be introduced by Formlabs.
Market Segmentation
By Type
- Linear
- Tubular
By Application
- Portable
- Stationary
- Transport
By End User
- Commercial & Industrial
- Data Centers
- Military & Defense
- Residentials
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
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