3D printing in healthcare market size will reach USD 6.21

Ottawa, Aug. 22, 2022 (GLOBE NEWSWIRE) — The world 3D printing in healthcare market size was valued at USD 1.45 billion in 2021. The process of manufacturing dimensional solid products primarily for the healthcare sector is called additive manufacturing. Additive processes are used by industry to create 3D printed objects. Successive layers are visible when cross-sectioning the entire product. Successive layers are superimposed to create a 3D printed object. Many personalized health care products are prepared using this technology to produce the best results desired by the consumer. Products made using this technology have many advantages over traditional surgical processes that are performed for reconstruction.

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Key points to remember:

  • By component type, the system segment accounted for 51% market share in 2021.
  • The material components segment is growing at a CAGR of 21.3% from 2022 to 2030.
  • In 2021, the droplet deposition technology segment accounted for 29% market share.
  • In 2021, the external wearable device application segment reached 38.7% revenue share.
  • In 2021, the medical and surgical center end-user segment reached 45% market share in 2021.
  • The academic institution end-user segment is expected to grow at a CAGR of 21.6% from 2022 to 2030.
  • North America reached 43% revenue share in 2021.
  • Asia-Pacific is growing at a CAGR of 21.8% from 2022 to 2030.

Regional Snaps

The North America geography has emerged as the primary market player for 3D printing growth in healthcare. The existence of key market players in this region has helped it become a prominent player in the global market. The devilish capacity of its healthcare institutions supported by government programs has made this region a major player in the market for 3D printing in the healthcare system. The rapid adoption of modern healthcare facilities by the healthcare industry and the acceptance by the people have helped the healthcare 3D printing market become a rising star.

Biomedical application has emerged as a major growth factor which has helped the market to attain 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. European nations have also contributed significantly to the growth of the market.

Report Hstrong points

  • Based on component, the system segment has emerged as the largest market due to its huge demand among healthcare and pharmaceutical industries. Better results are produced which attract potential customers and hence the system segment is considered a major player in the market.
  • Based on technologyDroplet deposition segment has proven to be the fastest growing market due to huge demand from industries.
  • Based on an applicationThe segment of external wearable devices has emerged to occupy the leading position owing to the growing demand among people with the rapid growing acceptance of modern technology.
  • Based on end userSurgical and medical centers have emerged as the major players in the market owing to the growing demand for 3D technology used to perform surgical procedures in the hospital sector, which leads to better outcomes.

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Report scope

Report attributes Details
Market size in 2021 $1.45 billion
Revenue forecasts by 2030 $6.21 billion
CAGR 17.54% from 2022 to 2030
The biggest 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, Materialize NV, Oxferd Performance Materials, Inc., SLM Solutions Group AG, Organovo Holdings, Inc., Proto Labs, Stratasys Ltd

Market Ddynamic

Drivers

The rapid progress made by the healthcare system through the use of modern technology has become a major driver for the growth of the market. The rapid acceptance that has been given to 3D printing technology in the healthcare sector appears as a major reason for the growth of the market. Customization and personalization of medical products is or every patient’s desire which is achieved with the help of 3D printing technology in the healthcare sector. The increase in research and development conducted by leading market players has become a major driver for market growth.

The large number of patients demanding personalized healthcare products has significantly increased the market size. Biomedical application has been a major driver of market growth owing to its rapid demand among the population.

Constraints

The cost associated with the use of 3D printing technology is significantly high compared to other options available in the market, making it a major restraining factor during the growth phase of 3D printing in the computer market. health systems. Fluctuations seen in reimbursement policies provided by insurance companies have emerged as another major restraining factor for market growth, which hinders people from opting for advanced treatment options.

The increase in rules and regulations regarding patents and copyright is how has significantly hampered the growth phase of the market. The skilled professionals who are needed to operate these highly developed machines are hard to find in today’s market which represents a major constraint for the market.

Opportunities

The application of 3D printing in the pharmaceutical sector has proven to be a major opportunity for market growth. The use of 3D printing in the pharmaceutical sector has helped market players to make products more appealing and appealing, which has significantly boosted sales and the demand market.

Bioprinting fabrics are available with the use of 3D printing technology in the healthcare industry, which has emerged as another opportunity for growth for major market players. Bio-printing has also helped the healthcare industry get a better picture of patients’ health status, which helps doctors provide better service. The multiple lucrative programs and offers offered by the government have helped the healthcare 3D printing market to achieve tremendous growth over time.

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Challenges

Rapid changes to reimbursement policies offered by insurance companies have made the situation very uncertain for patients. The total cost of the treatment amounts to a huge figure which is unattainable for the common man. The increasing number of diseases in the society due to modern lifestyle practices has challenged the major market players to introduce new drugs in the market. Lack of awareness among the population about available treatment options has also significantly hindered the growth of the market. The market has been challenged by the presence of patent and copyright issues which have significantly hampered the growth of the market.

Recent Ddevelopments

  • A dental and medical 3D printer in large format form will be introduced by Formlabs.

Market segmentation

By type

By request

  • Portable
  • Stationary
  • Transportation

Per end user

  • Commercial & Industrial
  • Data centers
  • Military & Defense
  • Residential

By geography

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa (MEA)

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