3D printing in healthcare industry is predicted to grow at 17.3% CAGR in the forecast period By 2027, providing numerous opportunities for market players to invest in research and development of the market.
Vancouver, BC -- (SBWIRE) -- 12/28/2020 -- 3D printing in healthcare is extensively used to develop prostheses and customized anatomical models with improvements in the prosthetic fit. With 3D printing, prosthetic limbs are now cost-efficient and can be produced at a rapid rate. The rising application of 3D printing in healthcare to enhance the treatment for specific medical issues is boosting the use of 3D printing in healthcare, thereby expanding the scope of the market. The global 3D Printing Healthcare Market is poised to attain a valuation of USD 4070.8 Million in 2027, registering a CAGR of 17.3%, according to a report by Emergen Research.
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Ease in the development of customized implants is one of the significant factors influencing the market growth.
Key participants include Stratasys Inc., 3D Matters Pte Ltd., Materialise NV, Organovo, Bio3D Technologies Pte Ltd., 3D Systems Corporation, Bio-Rad Laboratories, Simbionix, EnvisionTEC, and Metamason, among others.
Market Drivers
The 3D printing healthcare market has been witnessing an upsurge in demand due to its augmenting application in bio-engineering, implants, and surgical devices. The effortless and uncomplicated development of customized anatomical models, production of intricate and lightweight products, and generation of minimal waste during manufacturing are bolstering the demand for the market. Moreover, the escalating geriatric populace suffering from various health complications such as orthopedic conditions and heart issues are augmenting the demand for enhanced healthcare facilities. This factor is one of the radical factors influencing the industry's growth.
The research provides answers to the following key questions:
What will be the growth rate and the market size of the 3D Printing Healthcare industry for the forecast period 2020-2027?
What are the major driving forces expected to impact the development of the 3D Printing Healthcare market across different regions?
Who are the major driving forces expected to decide the fate of the industry worldwide?
Who are the prominent market players making a mark in the 3D Printing Healthcare market with their winning strategies?
Which industry trends are likely to shape the future of the industry during the forecast period 2020-2027?
What are the key barriers and threats believed to hinder the development of the industry?
What are the future opportunities in the 3D Printing Healthcare market?
Regional Analysis
Due to surging investment and advancements in R&D activities and the development of 3D technology, the North American market is poised to occupy the industry's largest share. Additionally, the strategic alliances between top biotech firms and research institutes in North American countries are estimated to contribute to market growth. The Asia Pacific is predicted to be a rapidly expanding region owing to the surging geriatric population and the escalating need for customized medical devices.
By Region
North America (S. and Canada)
Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
Latin America (Brazil, Mexico and Rest of Latin America)
Market Size – USD 1,131.9 Million in 2019, Market Growth - CAGR of 17.3%, Market Trends –Reduced waste generation during manufacturing
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The 3D printing healthcare market in North America contributed to the largest share in share in 2019 due to rapid advancements in 3D printing technology in healthcare, increased investments in R&D, and various strategic agreements between research institutes and biotechnology firms, and increased healthcare spending, among others.
Emergen Research has segmented the global 3D printing healthcare market on the basis of component, technology, application, end-users, and region:
Component Outlook (Revenue, USD Billion; 2017-2027)
Hardware
Software
Services
Materials
Technology Outlook (Revenue, USD Billion; 2017-2027)
Laser Beam Melting
Photopolymerization
Droplet Deposition
Electron Beam Melting
Others
Application Outlook (Revenue, USD Billion; 2017-2027)
Surgical Devices
External Wearable Devices
Implants
Tissue Engineering
End-Users Outlook (Revenue, USD Billion; 2017-2027)
Hospitals & Clinics
Pharmaceutical Companies
Research Institutes
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