Healthcare 3D Printing Market Size, Share, Growth, and Industry Analysis by Type (System/Device, Materials and Services) By Application (External Wearable Devices, Clinical Study Devices, Implants and Others), Regional Forecast To 2031

Updated On: 15 April 2024

Healthcare 3D Printing Market REPORT OVERVIEW

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global healthcare 3d printing market size was USD 1115 million in 2021 and market is projected to touch 6961.53 Million by 2031, exhibiting a CAGR of 20.1% during the forecast period.

The healthcare 3D printing market refers to the use of three-dimensional printing technology in the healthcare industry to produce medical devices, implants, and other medical products. This technology has revolutionized the healthcare industry by providing cost-effective and customized solutions for patients.

The market for healthcare 3D printing is expected to grow significantly in the coming years due to the increasing demand for personalized medical products, the growing geriatric population, and the rising prevalence of chronic diseases. Additionally, the increasing adoption of 3D printing technology in medical research is also expected to drive market growth. Overall, the healthcare 3D printing market is expected to continue its upward trajectory in the coming years as technological advancements and increasing adoption of 3D printing technology in the healthcare industry drive market growth.

COVID-19 Impact: Disrupted Supply Chain to Challenge the Market Demands

Healthcare providers around the world faced a shortage of PPE during the pandemic. 3D printing technology was used to produce face shields, ventilator parts, and other PPE to address this shortage. The pandemic disrupted global supply chains, which impacted the availability of 3D printing materials and components. As healthcare providers shifted to telemedicine to reduce the spread of COVID-19, the demand for 3D printed medical models and simulations to aid in remote consultations and surgeries increased.

Overall, while the COVID-19 pandemic has had both positive and negative impacts on the healthcare 3D printing market, it has highlighted the potential for this technology to quickly and efficiently produce critical medical supplies in times of crisis.

LATEST TRENDS

"Customization and Personalization, Increased Adoption of Bioprinting to Propel the Market Growth"

Customization and Personalization - Healthcare providers are increasingly using 3D printing technology to create customized implants and prosthetics that are tailored to individual patients' needs. This trend is driven by the ability of 3D printing to produce complex shapes and designs that are difficult or impossible to create using traditional manufacturing methods. Bioprinting, which involves the use of 3D printing technology to create biological tissues and organs, is becoming increasingly popular in the healthcare industry. This technology has the potential to revolutionize organ transplant procedures and enable the development of new treatments for a wide range of diseases.

 Healthcare 3D Printing Market Segmentation

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• By Type Analysis

By type, market is segmented into system/device, materials and services. The system/device type segment will dominate the market in the coming years.

• By Application Analysis

Based on applications, the market is classified into external wearable devices, clinical study devices, implants and others. The external wearable devices segment will lead the global share through 2028.

DRIVING FACTORS

"Integration with AI and Machine Learning to Boost the Market"

As 3D printing technology becomes more advanced, healthcare providers are exploring ways to integrate it with artificial intelligence (AI) and machine learning (ML) to enhance patient care. For example, ML algorithms can be used to analyze medical imaging data and generate 3D models that can be printed to aid in surgical planning.

"Expansion in New Applications and Increased Focus on Sustainability to Impel the Market Growth"

As concerns about the environmental impact of traditional manufacturing methods grow, the healthcare industry is looking to 3D printing as a more sustainable alternative. 3D printing can reduce waste and energy consumption by producing only the necessary number of materials needed for a specific product. The healthcare 3D printing market is expanding into new applications, such as the production of drug delivery devices and medical implants. As the technology becomes more advanced and versatile, it is expected that new applications will continue to emerge.

RESTRAINING FACTORS

"High Cost and Regulatory Challenges to Limit the Market Growth "

3D printing technology can be expensive, particularly for high-end machines that are capable of producing complex medical devices and implants. This cost can be a barrier to entry for smaller healthcare providers or those in developing countries. The healthcare industry is heavily regulated, and obtaining regulatory approval for 3D printed medical devices and implants can be a lengthy and costly process. This can limit the speed at which new products can be brought to market.

Healthcare 3D Printing Market REGIONAL INSIGHTS

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"North American Market to Grow Exponentially with the Forecasted Period"

The North American region is a significant player in the healthcare 3D printing market, with the United States being the major markets in the region. The United States dominates the North American healthcare 3D printing market, with a large number of manufacturers and suppliers operating in the country. The U.S. market is driven by factors such as high healthcare expenditure, favorable reimbursement policies, and a supportive regulatory environment.

The North American healthcare 3D printing market is characterized by a strong emphasis on research and development. Universities, research institutions, and private companies are all investing in the development of new technologies and applications for 3D printing in healthcare. The North American market is characterized by collaborations and partnerships between manufacturers, healthcare providers, and research institutions. These collaborations are aimed at developing new products, improving existing ones, and finding ways to bring new technologies to market. The healthcare 3D printing market in North America offers significant opportunities for small and medium-sized enterprises (SMEs). These businesses can leverage their agility and flexibility to develop innovative products and solutions that meet the

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

• Stratasys (Israel)
• Materialise NV (Belgium)
• Envision TEC (Germany)
• 3D Systems Corporations (U.S.)
• EOS (Germany)
• Texas Instruments (U.S.)
• SLM Solutions Group (Germany)
• Arcam AB (Sweden)
• AK Medical (China)
• Union Tech (China)

REPORT COVERAGE

The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes a number of other factors that have contributed to recent growth.