3D printed external wearable devices is expected to cater customized needs of patients and provide better fitting and comfort, thus fostering the market growth
PORTLAND, OR, UNITED STATES, September 14, 2021 /EINPresswire.com/ — 3D printing healthcare market has witnessed dynamic growth in the recent years, owing to rapid technological advancements, increase in investments in R&D activities, and rapid expansion of customer base. Furthermore, the customizations offered by this technology, increase in scope of biomedical applications, efficient material usage, and reduction in cost & time are the major factors supplementing the growth of the market.
3D Printing Healthcare Market generated $972.6 million in 2018 and is expected to generate $3.69 billion by 2026, registering a CAGR of 18.2% from 2019 to 2027. The report offers an extensive analysis of changing market trends, top winning strategies, drivers & opportunities, key segments, and competitive landscape.
3D printing technology facilitates surgeons to improve the success rate of complicated procedures. Moreover, this technology has revolutionized preclinical drug testing by facilitating the testing on 3D-printed organs as an alternative to animal testing. The recent success in 3D printing of tablets has opened new avenues for use of 3D printing technology in the pharmaceutical industry.
High cost associated with 3D printers, copyright & patent infringement concerns, lack of quality & regulatory frameworks for 3D printers, reimbursement challenges, and concerns regarding mechanical properties & biocompatibility are the key factors responsible for hampering the market growth. Moreover, inadequate technical know-how in developing economies impedes the market growth.
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• The demand for 3D printing healthcare has been increased in pharmaceutical and biotechnology companies for the diagnosis and research of vaccine on COVID 19 in the global lockdown.
• Research & development activities, on the other hand, in 3D printing healthcare has been increased during the global lockdown, owing to fulfill the demand in health care services.
Application Segment Review:
Based on application, the external wearable devices segment held nearly three-fifths of the total share in terms of revenue of the global 3D printing healthcare market in 2018, and will maintain its dominance by 2026. This is due to liberalization of regulations for 3D-printed medical devices, rise in patient-specific customizations, and huge patient pool suffering from cardiovascular & bone disorders, auditory loss, and dental problems. However, the tissue engineering segment is expected to register the highest CAGR of 22.2% from 2019 to 2027, owing to rise in R&D investments, rise in scope of biomedical applications, and technological advancements.
Based on component, the system segment accounted for the highest market share in the global 3D printing healthcare market in 2018, contributing to more than half of the total share, and is estimated to maintain its leadership status during the forecast period. This is due to rapid adoption rate, advancements in technologies, and rise in biomedical applications. However, the materials segment is expected to register fastest CAGR of 20.0% from 2019 to 2027, owing to increase in requirement for biocompatible materials and system installation.
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Key players in the industry:-
The key market players analyzed in the 3D printing healthcare market research report include 3D Systems Corporation, Exone, Formlabs, GE, Materialise NV, Oxferd Performance Materials, Inc., Organovo Holdings, Inc., Proto Labs, SLM Solutions Group AG, and Stratasys Ltd, Advanced Solutions Life Sciences, Aspect Biosystem, Cyfuse Biomedical K.K., Envisiontec, and Nano Dimension, and others
3D Printing Healthcare Market Segments:
By Component –
By Technology –
• Droplet Deposition (DD)
o Fused Deposition Modeling (FDM) Technology
o Low-temperature Deposition Manufacturing (LDM)
o Multiphase Jet Solidification (MJS)
o Stereolithography (SLA)
o Continuous Liquid Interface Production (CLIP)
o Two-photon Polymerization (2PP)
• Laser Beam Melting
o Selective Laser Sintering (SLS)
o Selective Laser Melting (SLM)
o Direct Metal Laser Sintering (DMLS)
• Electronic Beam Melting (EBM)
• Laminated Object Manufacturing
By Application –
• External Wearable Devices
• Clinical Study Devices
• Tissue Engineering
By End User –
• Medical & Surgical Centers
• Pharmaceutical & Biotechnology Companies
• Academic Institutions
By Region –
• North America
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Source: EIN Presswire