Global 3D Printing in Healthcare Market Demand and Competitive Analysis by Leading Manufacturers - Stratasys Ltd., Renishaw plc, Concept Laser GmbH

Industry Overview

The 3D printing market in healthcare has witnessed significant growth rates in the last decade, owing to the increased demand for implants worldwide. The market has seen great requirement for surgical guides over the last few years due to rising usage of the digitally focused process for precise surgical preparation.

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Market Segmentation
1. Insight by Component
i. Materials— bioprinting biomaterial, metal & metal alloys, plastic and others
ii. Service and software
iii. Equipment — 3D printers, 3D bioprinters

Service and software segment held the largest share in 3D printing market in healthcare owing to the intensifying improvement of advanced software solutions to manufacture high-quality 3D printed medical products. Moreover, equipment segment is expected to register highest CAGR in coming years.

2. Insight by Technology
i. Photopolymerisation
ii. Electron beam melting
iii. Laser beam melting
iv. Laminated object manufacturing
v. Droplet deposition
vi. Three-dimensional printing

Photopolymerisation has been witnessing the fastest CAGR in this segment owing to the extensive usage of technology for manufacturing surgical guides, porous scaffolds, prosthetics and implants, and dental restorations systems.

3. Insight by Type
i. Surgical guides
ii. Tissue engineering products
iii. Prosthetics and implants
iv. Surgical instruments

Surgical instruments has registered the highest CAGR in this segment owing to the increased usage of the digitally focused process for precise surgical preparation.

4. Insight by End User
i. Hospitals
ii. Ambulatory Surgical centres
iii. Others

The hospitals accounted for the largest market share in 3D printing market in healthcare and the market for ASCs is expected to witness the fastest growth during the forecast period.

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Industry Dynamics

1. Growth Drivers
The key growth drivers of this industry are the following:
i. Rising need for implants
ii. Technological advancements
iii. Growing applications of 3D printing in the healthcare industry
iv. Escalating public-private funding
v. Increasing awareness regarding personal care
vi. Effortless development of customized and personalized medical products
vii. Direct digital production
viii. Expiry of key patents
ix. Increasing number of patients with dental problems and hearing loss
x. Rising healthcare expenditure
xi. Expanding geriatric population
xii. Growing need for organ transplants

2. Challenges
Some of the major challenges faced by the key players in this industry are:
i. Social and ethical concerns related to the usage of 3D-printed products
ii. Strict regulatory procedures for the approval of the 3D printed medical devices
iii. High cost of advanced 3D printers
iv. Patent issues related to 3D printing
v. Lack of trained professionals

3. Industry Ecosystem
The newcomers in this industry are needed to adhere to strict regulatory standards while overcoming difficulties like the requirement of high initial capital investment and the intense competition in global markets. This lowers the threat of new entrant to some extent in the 3D printing in healthcare market

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Geographic Overview
i. Asia Pacific
ii. North America
iii. Europe
iv. Rest of the World

North America holds the largest market share in 3D printing in healthcare industry, owing to the high demand for organ implants in this region. Asia-pacific is expected to grow with the highest CAGR owing to the increasing adaptation of 3D printing medical devices in this region.

Competitive Insight

Key players in the 3D printing market in healthcare are Stratasys Ltd., Renishaw plc, Concept Laser GmbH, EnvisionTEC GmbH, 3T RPD Ltd, Materialise NV, 3D Systems Corporation, Arcam AB, Prodways Group and EOS GmbH Electro Optical Systems are the key players offering 3D printing in healthcare.

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This release was published on openPR.