3D Printing Healthcare Market is projected to reach $2,319.5 million by 2020, with a growing CAGR of 26.2%.
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The world 3D printing healthcare market is mainly driven by several technological breakthroughs, such as multi-material, full-color 3D printers that are solar-powered and portable. In addition, public and private organizations have been investing in R&D activities, thereby driving the market growth. Moreover, the ability of 3D printing technology to provide customized and personalized medical devices and increasing set of available and biocompatible materials are anticipated to drive the market growth. In addition, increasing geriatric population, rising incidence of osteoporosis, a growing number of amputees, and spiraling number of patients with auditory loss & dental problems have fueled the market growth.
Moreover, the increasing use of this technology in hospitals would reduce the duration of surgery, anesthesia exposure and operative risks, aid in the effective pre-surgery planning, and improve surgeons practice, thereby promoting faster healing. In addition to the aforementioned factors, 3D printed organs have provided the highly demanded alternative methods for animal testing, thereby assisting the market growth by shortening the time span for clinical trials and reducing cost and inherent risks associated with the testing of new drugs. However, high cost associated with advanced 3D printers, lack of both structured regulatory frameworks & reimbursement policies, and copyright & patent issues associated with 3D printing of patented products is expected to impede the market growth.
The external wearable device application is expected to continue to lead the 3D printing healthcare market during the forecast period, owing to the increasing count of amputees, patients with auditory loss, dental problems, and the increasing availability of biocompatible materials. In addition, the production of customized and personalized 3D printed external wearable devices is expected to cater to the customized needs of patients and provide better fitting and comfort, thus fostering the market growth. 3D printing technology is used in medical treatment procedures within dentistry, more precise, and less invasive.
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The 3D printing systems market would exhibit significant growth in the Asia-Pacific and LAMEA regions, owing to the increasing number of start-up companies and their rising awareness. The materials segment is expected to grow at a considerable growth rate due to the increasing availability of biocompatible materials, efficient material usage, and the simultaneous utilization of multiple materials. In addition, the materials segment is expected to grow rapidly in North America and Europe, due to the established systems market.
Key findings of 3D Printing Healthcare Market:
• The 3D healthcare services segment is projected to exhibit the highest CAGR of 26.6% during the forecast period.
• Polymers are the most preferred materials for 3D printing, as they account for about half of the market revenue in the materials market; whereas, the ceramics segment is projected as the fastest growing segment with a CAGR of 32.1% during the forecast period.
• The electron beam melting technology segment is projected to grow at the highest CAGR of 29.6% from 2015 to 2020.
• The medical and surgical centers end-user segment accounts for two-thirds of the market and is expected to dominate the market until 2020.
• The tissue engineering application segment would emerge as the fastest growing segment, registering a CAGR of 31.7% during the forecast period.
• North America accounted for a two-fifths share of the healthcare 3D printing market, whereas the Asia-Pacific is anticipated to be the fastest growing market, registering a CAGR of 29.7% from 2015 to 2020.
The 3D printing healthcare market is largely consolidated, a majority of the market share is governed by the two leading players, 3D Systems Corporations and Stratasys Ltd. In addition, the key market players have adopted a strategic partnership to accelerate the product development process.
The major companies profiled in this report include 3D Systems Corporation, Stratasys Ltd., SLM Solutions Group AG, EnvisionTEC, Arcam AB, Organovo Holdings, Inc., Oxford Performance Materials, Inc., Materialise NV, Bio3D Technologies, and Cyfuse Medical K.K.
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