Global 3D Printing in Healthcare Market is anticipated to grow at a 23.0% CAGR from 2019 to 2030
Market Industry Reports (MIR) has published a new report titled “Global 3D Printing in Healthcare Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global 3D printing in healthcare market was estimated to be US$ 3,961.6 Mn in 2018. It is anticipated to grow at a CAGR of 23.0% from 2019 to 2030.
Growing application of 3D printing in various segments of healthcare market, availability of varied materials that can be used for 3D printing, customized products that offer improved patient care along with technological breakthroughs and consistent innovation through research and development activities in the field of 3D printing in the healthcare sector have been significant in propelling the growth of 3D printing in the healthcare market. Additionally, improved precision, reduced errors, efficient use of diverse materials that assist in ensuring minimal wastage are expected to further spur the growth of the 3D printing in healthcare market in the forecast period.
Growing Application Horizon
3D printing is increasingly being used in multiple segments of the healthcare industry. For e.g. anatomical modeling, active & wearable devices, pharmaceuticals, prosthetics, bioprinting, etc. Owing to its adaptability in making multiple kinds of three dimensional objects, that can be solid, with holes or at times full of dense network, 3D printing in healthcare is rapidly gaining usability in multiple spheres of the medical field. Since this technology has the ability to fabricate, plot and enhance products that would be completely nonviable via any other technology it has gained wide acceptance and popularity in the medical field. Factors such as lower production cost in comparison to the traditional manufacturing method of organs or body parts, and shorter recovery and treatment time is providing added impetus to the growth of 3D printing in healthcare market.
Pre-operative Surgical Planning
Recent times have seen emerging popularity of pre-operative visualization. Use of printed 3D models and other visualization tools for pre-operative planning, assists in pre-defining the steps in surgeries thereby providing accurate results. At times, due to the complexity of anatomical site where the surgery has to be conducted, plain virtual images or two dimensional images are not adequate to rightly convey the structural details. Preoperative surgical planning provides greater clarity about the patient’s anatomy and pathology, eliminating the chances of surprises during surgical procedures. In certain procedures, these steps reduce the time taken and provide minimal degree of invasion with adequate aesthetic results.
Browse key industry insights spread across 150 pages with market data tables & figures & charts from the report, Global 3D Printing In Healthcare Market by Process/Technology (Material Extrusion, Powder Bed Fusion, VAT Photopolymerization, Material Jetting, Binder Jetting, Hybrid Systems, Other Processes/Technologies), Material (Plastics/Polymers, Metals, Ceramics, Organic, Other Materials), Application (Prototyping, Design & Development, Anatomical Models, Surgical Instruments/Medical Components, Prosthetics/Orthotics, Dental, Implants, Tissue Engineering/Bioprinting, Other Applications) - Global Analysis & Forecast 2019-2030 in detail along with the table of contents: https://www.marketindustryreports.com/3D-printing-in-healthcare-market/44
3D Printing Technologies & Applications to Face Stringent Regulations by FDA and Other Governing Bodies
The versatility of 3D printing has increased the scope of medical applications; however the products made using 3D printing are required to meet with stringent regulations by governing bodies such as FDA, similar to the products made by using other manufacturing processes. These stringent regulations are in place to ensure the products that are manufactured via 3D printing process are up to the mark. In early December 2017, the FDA issued guidance on 3D printed medical devices, a move that has major implications from a business perspective and one that builds on previous draft guidance that was issued in 2016 and feedback leading up to the final document. The FDA in U.S. will pursue to work with and keep tabs on the latest developments and innovations with 3D printing as the technology will have a direct impact on human healthcare.
Swift Growth of the Asia Pacific Market
Asia Pacific is anticipated to witness the highest CAGR during the forecast period. Support by the government in this region for R&D activities, accelerated regulatory approvals and various initiatives to promote 3D printing in this region is likely to fuel the growth of the 3D printing in healthcare. Breakthrough researches, wide adoption of 3D printing, strong funding for R&D activities and partnerships amongst key players are some of the other key factors propelling its demand in the Asia Pacific region.
Major Players in the Global 3D Printing In Healthcare Market
The prominent players in the 3D printing in the healthcare market are 3D Systems, Stratasys Ltd, Materialise, among others.
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