3D printing in Healthcare Market is projected to reach a value of $8.58 billion by 2030

According to the report published by Virtue Market Research, the Global 3D printing in Healthcare Market was valued at $2.41 billion in 2022 and is projected to reach a market capitalization of $8.58 billion by 2030. Over the forecast period of 2023-2030, the market is anticipated to grow at a CAGR of 17.2 % owing to the development of 3D printing technology.

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The capacity to create individualised medical devices and implants is one of the key drivers of 3D printing in healthcare. Medical equipment and implants may be personalized to meet the unique anatomy of each patient using 3D printing. 3D-printed prostheses, for example, may be constructed to precisely match the shape and size of the patients' residual limb, resulting in a more comfortable and functional prosthesis. Similarly, 3D-printed implants may be personalized to suit the exact shapes of a patient's bone or organ, increasing implant lifetime and lowering the chance of problems.

The ongoing development of 3D printing technology is another factor driving its use in healthcare. 3D printers are now more widely available, more reasonably priced, and capable of generating implants and medical equipment that are more intricate than ever before. Medical gadgets and implants may now be produced in a fraction of the time it would normally take due to advancements in printing accuracy and speed. The ability to print living tissue and organs for transplantation, which has the potential to transform the area of regenerative medicine, is one of the new uses for 3D printing that have emerged in the healthcare industry. The growing use of technology for surgical planning and training is one major market trend for 3D printing in healthcare. Medical personnel can now utilise 3D-printed representations of a patient's anatomy to plan and rehearse intricate surgical operations. Medical experts may use 3D printing to produce patient-specific models that precisely reproduce the anatomy of the patient, including their bones, organs, and blood arteries. These models can be used to see the surgery site and assist doctors in identifying potential issues before the real procedure. One key market opportunity for 3D printing in healthcare is the production of customized orthotics and prosthetics. Orthotics and prosthetics are medical devices that are used to support, protect, or replace a part of the body. Traditionally, these devices are mass-produced and designed to fit a range of body types and sizes, which can result in discomfort and reduced functionality for the patient. With 3D printing, orthotics and prosthetics can be customized to fit the unique anatomy of each patient, resulting in devices that are more comfortable and functional. The COVID-19 pandemic has had a substantial influence on 3D printing in healthcare market drivers.

Additionally, the pandemic has hastened the development of 3D-printed vaccinations, diagnostic tools, and medication delivery systems, which are projected to fuel significant expansion in 3D printing in healthcare market in the coming years.

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Segmentation Analysis:
The Global 3D printing in Healthcare Market segmentation includes:

By Metal Type:
• Polymer
• Metal and Alloys
• Other Materials

The largest predicted growth is in polymers. Metals and alloys are frequently utilised in 3D printing medical equipment, implants, and surgical tools. 3D printing of metal implants can give a bespoke fit for the patient, increasing surgical success and lowering the risk of problems. The use of 3D printing for metal implants has also resulted in shorter lead times, cheaper prices, and higher product quality and performance. Polymer-based materials are also extensively utilised in healthcare 3D printing. Polymer-based implants and prostheses are more common thanks to 3D printing because of their biocompatibility, low weight, and adaptability to the anatomy of the patient. Ceramics, composites, and bioprinting materials are some other materials utilised in 3D printing in healthcare.

By Application:
• Surgical Implants
• Prosthetics
• Hearing Aids
• Tissue Engineering
• Drug Screening
• Surgical Guides
• Medical Components
• Others

In the upcoming years, surgical implants are anticipated to rise the fastest. Custom prosthetic limbs, legs, and hands may be made due to 3D printing. The technique enhances the fit and comfort of the device and enables the quick fabrication of prostheses at a lower cost for patients. Surgery implants, such as hip and knee replacements, are made to order using 3D printing. More fitting accuracy and increased implant longevity are also made possible by this technique. Moreover, 3D printing is being utilised in the healthcare industry to make orthotics, skin grafts for burn sufferers, and models for surgery planning. Overall, the use of 3D printing in healthcare has the potential to revolutionize the medical industry by allowing for greater customization, precision, and efficiency in various medical applications.

By End User:
• Pharmaceutical & Biotechnology Companies
• Medical & Surgical Centres
• Academic Institutions

The need for patient-specific implants, prosthetics, and surgical guides is likely to keep the medical and surgical centres sector as the industry's largest end-user of 3D printing. With 3D printing technology, it is now possible to design unique medical devices that fit better, take less time during surgery, and provide better results for patients. Furthermore anticipated to experience considerable growth is the pharmaceutical and biotechnology sector, which will be fuelled by rising demand for tailored treatment and more effective medication development. 3D printing technology allows for the creation of complex drug delivery systems and personalized medicine, which can improve patient outcomes and reduce healthcare costs. Academic institutions are likely to continue to be an important end-user segment of 3D printing in the healthcare market, driving innovation in the field and developing new technologies and applications for 3D printing.

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Regional Analysis:
A growing need for patient-specific implants and prostheses, as well as rising healthcare costs, are likely to propel the Asia-Pacific region to have the fastest growth in the future years. Due to the presence of numerous major companies in the area, supportive government efforts, and rising investment in R&D activities, North America now has the largest market for 3D printing in healthcare. Due to rising demand for patient-specific implants and prostheses, supportive government efforts, and rising R&D spending, Europe is the second-largest market for 3D printing in healthcare. The desire for personalised medical gadgets and prosthetics, expanding healthcare infrastructure, and rising healthcare costs are driving the steady growth of 3D printing in the healthcare market in the rest of the globe.

Latest Industry Developments:
• Collaboration between Evonik and PrinterPrezz, announced in January 2022. Evonik, a specialty chemicals company, and PrinterPrezz, a medical device manufacturer, are partnering to develop 3D printing materials for the healthcare industry.

• The launch of the J750™ Digital Anatomy™ 3D Printer by Stratasys, in October 2021. The printer is designed to create realistic anatomical models for surgical planning and medical training.

• The launch of the Formlabs BioMed Clear Resin, was announced in January 2022. Formlabs, a leading provider of 3D printing solutions, has developed this new material specifically for medical applications.

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Virtue Market Research is a strategic management firm helping companies to tackle most of their strategic issues and make informed decisions for their future growth. We offer syndicated reports and consulting services. Our reports are designed to provide insights on the constant flux in the global demand-supply gap of markets.

This release was published on openPR.