Westford, USA, April 11, 2023 (GLOBE NEWSWIRE) -- SkyQuest projects that the 3D Printing in Healthcare market will attain a value of USD 6.21 billion by 2030, with a CAGR of 17.54% over the forecast (2022-2030). The major industry players' quick technological breakthroughs will lead to a large increase in the market for 3D printing in healthcare. Due to the usage of personalization and customization in the medical field, prospective clients have been drawn to make use of the cutting-edge technology used in the healthcare sector. The key market participants' strong R&D efforts aimed at introducing modern technologies into the market have greatly assisted the industry's growing phase. The top-notch medical facilities that are provided by the government in many parts of the world have encouraged people to pick such cutting-edge technologies.
According to the SkyQuest's, Moreover, 3D printing technology improvements, customization and personalization, increased R&D investments, the existence of a sizable patient pool, and an increase in biomedical applications are the key factors propelling the market expansion. Moreover, the high cost of 3D printing, rising reimbursement issues, escalating copyright and patent issues, and a shortage of experienced personnel restrain the market's expansion for this technology in healthcare. Increased pharmaceutical applications and the accessibility of bioprintable tissues and organs present potential opportunities for the market throughout the forecast period.
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The process of 3D printing, sometimes referred to as additive manufacturing, entails the production of three-dimensionally solid objects, most of which are utilized in the medical field. Additive processes are used to create 3D printed objects. In order to manufacture an object, the additive manufacturing process includes stacking layers on top of one another. When viewed as a cross section of the item, the layouts look like very thinly sliced layers. This method is used to create specialized medical tools and equipment for use in the healthcare sector.
Prominent Players in 3D Printing in Healthcare Market
- 3D Systems Corporation
- Exone Company
- Formlabs Inc.
- General Electric,
- Materialise NV
- Oxferd Performance Materials, Inc.
- Organovo Holdings, Inc.
- Proto Labs
- SLM Solutions Group AG
- Stratasys Ltd
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Medical & Surgical Centers Segment Had the Biggest Market Share In 3D Printing in Healthcare due to Wide Range of Applications in Surgical and Medical Procedures
In 2020, the medical & surgical centres segment had the biggest market share, and this dominance is anticipated to continue over the forecast period. Increased investments in 3D printing technology by public and commercial organizations, as well as an increase in partnerships between academic institutions and businesses, are some of the drivers fueling the market's expansion in the healthcare sector. The market for 3D printing in healthcare has expanded thanks to these considerations.
The market for general 3D Printing in Healthcare is dominated by North America, and this trend is anticipated to continue during the projected period. This is related to the increasing use of 3D printing technology and the numerous partnerships in this area between academic and business institutions. Its domination has also been aided by technological developments related to 3D printing, an increase in financing for the development of these printers for use in healthcare, and an increase in the number of patients in this area.
The Custom Prosthetics and Implants Segment Will Continue to Grow Due to the Numerous Benefits That 3d Printing Offers in Creating Customized Solutions for Patients
The Custom Prosthetics and Implants segment will continue to dominate the market. In order to create highly personalized prostheses and implants, 3D printing can be employed with a variety of materials, including plastics, ceramics, metals, and biological materials like skin and bones. It is projected that the 3D printing of customized implants, which is luring new investors and medical device companies, will fuel the growth of this market segment.
Asia Pacific is also anticipated to experience rapid expansion although the healthcare sector in emerging economies is growing. Government organizations are investing in creating healthcare infrastructure to protect against unforeseen pandemics and disease outbreaks.
A comprehensive analysis of the major players in the 3D Printing in Healthcare market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
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Key Developments in 3D Printing in Healthcare Market
- In July 2022, A cutting-edge 3D printing plant was debut in Bengaluru, India. In order to launch a line of desktop and industrial 3D printers in the India market in February 2022, Imaginarium teamed up with Ultimaker.
- In 2021, The first producer of metal 3D printers in India, Intech Additive Solutions Pvt. Ltd. (Intech), announced the release of the iFusion LF series, a line of large format metal 3D printers with a high build rate for economical manufacturing. This signalled a growth in the company's selection of metal 3D printers.
Key Questions Answered in 3D Printing in Healthcare Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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