Global 3D Printing for Medical Sector Market - By End User (Pharmaceutical and Biotechnology Companies, Medical Devices Companies, Academic and Research Institutions), and By Geography - Trends and Forecast till 2024

3D printing is a rapidly emerging cost-effective technology with significant potential to transform healthcare delivery and clinical activities. This technology can be used in a range of devices such as prostheses, hearing aids, custom-made knee and hip implants, dental implants, and surgical instruments. The global 3D printing for medical sector market was valued at US$ 412.2 million in 2015 and is expected to expand at a CAGR of 11.7% during the forecast period (2016 – 2024).

3D printing technology uses numerous materials such as the metals, ceramics, polymers, and biological cells for printing skin, organs, and medical devices. Metal printing is widely used in prosthetics and implants. Biological cells are widely used in skin and tissue printing. In 2014, L’Oreal S.A. announced partnership with Organovo Holdings, Inc. to 3D-print human skin. Organovo printed the first blood vessel in 2009 and is in the process of developing 3D-printed tissues through strategic partnerships with biopharmaceutical companies. The Wake Forest Institute for Regenerative Medicine (WFIRM)—a research institute associated with Wake Forest School of Medicine—is involved in printing organs and tissue using gel and patient’s own cells. Ceramic is used in dental implants printing. Also, prosthetics can be printed using ceramics and polymers. Polymers are used in printing dental, orthopedic and cranio-maxillofacial implants, and biological models.

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Favorable government policies and government funding to boost the 3D printing market for medical applications

The U.S. government is encouraging innovation in healthcare through funding and establishing manufacturing hubs. For instance, in 2014, the National Institutes of Health established a 3D Print Exchange organization to promote open-source sharing of biomedical 3D print files and tutorials. While the U.S. FDA currently approves only dental, orthopedics, cranio-maxillary and tissue engineering for 3D printing, clearance of the 3D printing in other segments would boost the 3D printing market growth significantly. Similarly, the Japanese government supports manufacture and sales of professional-grade printers for 3D printing (also used for medical applications). In June 2013, the Chinese government announced plans to set up ten 3D printing innovation centers across the country. In May 2016, SHINING 3D—a China-based 3D printing company—established its new headquarters in Zhejiang 3D industrial zone.

3D printing is revolutionizing the healthcare industry by providing improved therapy outcomes and affordable medical devices. This technology is enabling manufacturers to produce small and delicate parts of an organ or medical device with a high accuracy, which is a very cumbersome task using current manufacturing capabilities. Companies such as EnvisionTEC, Inc., 3D Systems, Inc., Stratasys Inc., Materialise NV, and Organovo Holdings, Inc. are collaborating with each other or independent research organizations and institutes to speed-up the research activities in order to decrease the time to market (TTM).

3D printing offers various benefits such as pre-operative planning of medical procedures based on the 3D model, creating anatomical models for training, creating medical products at lower costs, and possibility of manufacturing medical devices of smaller form factors with higher precision. Increasing awareness about cost benefits offered by this technology has increased its usage in hospitals, dentists, pharmaceutical companies, academic institutions, and medical clinics is propelling the market growth for 3D printing. Furthermore, growing demand for organ transplantation and funding from government and private Institution are analyzed be the major factors propelling growth of 3D printing application in the medical sector.

This report segments the global 3D printing for medical sector market on the basis of technology, application, and end user. On the basis of technology, the global 3D printing market is classified into electron beam melting, laser beam melting, droplet deposition and photopolymerization. Applications of 3D printing include tissue engineering, surgical implants, healthcare research and development (R&D), and others. 3D Printing technology is used for medical applications across pharmaceuticals and biotech companies, medical devices companies and academic and research institutions.

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This report provides in-depth analysis of 3D printing in medical sector and provides market size (US$ Million) and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2016 – 2024), considering 2015 as the base year

It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market

This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players

It profiles leading players in the global 3D printing for medical sector market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies and future plans

Key companies covered as a part of this study include 3T RPD, Ltd., EnvisionTEC, Inc., Arcam AB, 3D Systems, Inc., Eos GmbH Electro Optical Systems, Renishaw plc, Stratasys Inc., Materialise NV, and Organovo Holdings, Inc.

Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launch, technology up-gradation, market expansion and marketing tactics

The global 3D printing for medical sector market report caters to various stakeholders in this industry including investors, suppliers, 3D printing device manufacturers, distributors, new entrants, and financial analysts

Stakeholders would have ease in decision making through the various strategy matrices used in analyzing the 3D printing for medical sector market

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