The global healthcare 3D printing market size was worth USD 973 Million in 2020 and is anticipated to grow at a CAGR above 18%.
3D printing is undoubtedly one of the disruptive technology and shaping the industries towards betterment. It has a wide range of healthcare industry applications and rapidly evolving over the past few years. The usage of 3D printing in the healthcare industry has been in practice since 1990, and in recent times, the demand for these technologies has increased at a greater pace as they are much accessible and affordable. 3D Printing is now used to make Three Dimensional objects from a CAD model by adding material layer by layer, and it is why 3D Printing is also known as additive manufacturing. Healthcare 3D printing is significantly useful for hearing aids, dental implants, prostheses, and contact lenses customized to the individual and thus helps treat a lot of problems. 3D Printing is also used in the manufacturing of hip and knee implants.
MARKET DRIVERS:
The growth of the healthcare 3D printing market is majorly driven by the increase in the geriatric population worldwide. The prevalence of cardiovascular, Orthopaedic, and other diseases has increased the risk factor for us and increased the demand for 3D printing medical devices. Governments worldwide have increased their budget for the research and development of this technology, thus ensuring positive growth in the future. The increasing healthcare quality everywhere has provided that this technology gets accessible to most people. Healthcare professionals have started exploring this technology to reduce the risk of using anesthesia during long surgeries.
The reduction in cost & time in the medical procedures for the transplants, surgeries, and rapid expansion of the customer base is one of the primary drivers of the global Healthcare 3D Printing Market. The best suitability as an alternative to animal testing with the organs made out of 3D printing technology, the customizations offered by this technology, and efficient material usage are the fuelling factors of the market.
MARKET RESTRAINTS:
The primary restraint for the market is to reduce the high costs associated with the 3D printing technology so that even developing countries can benefit from this new system. The lack of a regulatory framework and lack of quality has hampered the growth of the market. The reimbursement challenges faced by people opting for 3D devices have also played a role in slowing the market growth. The lack of technology in many countries also remains a challenge for the market.
The stringent copyright & patent infringement systems and concerns regarding mechanical properties & biocompatibility are the challenges that are hindering the global Healthcare 3D Printing Market. Also, the lack of quality, regulatory frameworks for 3D printers, and the inadequate technical knowledge about 3D printing technology in developing economies like India, China, etc., are considered the restraints of the market.
IMPACT OF COVID-19 ON THE HEALTHCARE 3D PRINTING MARKET
The COVID-19 has positively impacted the market as the people already affected by cardiovascular diseases have been most adversely affected by the coronavirus. 3D Printing can help in making devices that reduce the risk of cardiovascular diseases. 3D Printing is also helpful in creating devices that can help provide artificial respiration for the people affected by the coronavirus and have respiration problems due to the virus's effect on the lungs. The increased usage of these devices has opened new opportunities for the latest companies to enter the market as the demand is enormous, and supply is limited. The increased popularity of these devices will eventually lead to more devices with better technology and increased usage.
REPORT COVERAGE:
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2019 to 2025 |
|
Base Year |
2020 |
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Forecast Period |
2019 to 2025 |
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Segments Covered |
By Component, Technology, Application, End-User, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
This research report on the global healthcare 3d printing market segmented and sub-segmented into the following categories and analyzed market size and forecast for each segment until 2025.
Healthcare 3D Printing Market - By Component:
By components of 3D Printing in healthcare, the system/device sub-segment had the dominant market share in 2019 and is expected to grow at a promising rate during the forecast period. The main factor responsible for the growth is the increased adoption of 3D printing technology around the world. The technological advancements in 3D Printing and Software have made the transition much smoother and effective. The increased investments in Research and Development have ensured that technology is getting evolved to cater to the needs of rapidly expanding needy patients.
The materials sub-segment had the second largest market share in 2019 and is expected to witness the fastest growth during the forecast period. The increased adoption of 3D technology and increased usage of 3D Printing has increased the demand for this sub-segment, and thus, an increase in revenue is expected in the future.
Healthcare 3D Printing Market - By Technology:
Healthcare 3D Printing Market - By Application:
From the application segmentation, the External Wearable Devices dominated the market revenue in 2019, and the projected growth is positive in the future. The main factor responsible for development is the increased usage of 3D printing technology to help patients deal with their body physical and internal problems.
The Implants sub-segment is expected to grow at a healthy rate during the forecast period. The rise in population, and thus the prevalence of different diseases has driven the growth of the market. Collaborations between companies and research Institutes have also led to more innovations that are more useful and effective.
Healthcare 3D Printing Market - By End-User:
Based on the end-user, the medical and surgical centers had the largest market share in 2019, and the projected growth rate is increasing in the forecast period. The increasing population and rising cases of people affected by diseases are majorly responsible factors for significant revenue share. The easy accessibility and surgical procedures have ensured positive market growth.
The Pharmaceutical and Biotechnology companies had second place in revenue share in 2019. The growth will be attributed to the increased research and development of this technology due to increasing demand. The collaboration between companies has led to the development of various useful and technologically advanced devices.
Healthcare 3D Printing Market - By Region:
In the regional analysis of the Healthcare 3D printing Market, North America was the leading market globally since 2019. It is also expected to continue its dominance during the forecast period. The growth of the market in this region is attributed to various technological advancements, widespread adoption of the 3D printing technology in the area, an increase in research & development investments, and several collaborations between academic & commercial organizations.
North America dominates the global healthcare 3D printing market in terms of revenue, and the growth rate projected is complimentary during the forecast period. The main reason contributing to the high growth rate is increasing healthcare expenditure and the sophisticated healthcare infrastructure of this region. The increase in research and development for this technology has further increased the use of this technology.
The Asia Pacific market had the second-largest revenue share in 2019 and is expected to grow with the highest rate among all the regions. The rise in population in countries like India and China has also led to increased cardiovascular and orthopedic disease cases, improving market growth. The government initiatives have also boosted the market and its prospects in the future.
The European region had the third-largest market share in 2019. The rise in the quality of healthcare facilities and the increasing geriatric population in the region are the two factors responsible for market growth.
NOTABLE COMPANIES IN THIS MARKET:
Key manufacturers leading the global Healthcare 3D Printing Market analyzed in this report are 3D Systems Corporation, Exone, Formlabs, GE, Materialise NV, Oxferd Performance Materials, Inc., Organovo Holdings, Inc., Proto Labs, SLM Solutions Group AG, Stratasys Ltd., Aspect Biosystems, Cellink, Renishaw, Prodways, and EnvisionTEC.
MAJOR HAPPENINGS IN THIS MARKET IN THE RECENT PAST:
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 3D Printing in Healthcare Market, By Component
6.1.1 System/Device
6.1.2 Materials
6.1.3 Services
6.1.4 Market Size Estimations & Forecasts (2019-2024)
6.1.5 Y-o-Y Growth Rate Analysis
6.1.6 Market Attractiveness Index
6.2 3D Printing in Healthcare Market, By Technology
6.2.1 Droplet Deposition (DD)
6.2.2 Photopolymerization
6.2.3 Laser Beam Melting
6.2.4 Electronic Beam Melting (EBM)
6.2.5 Laminated Object Manufacturing
6.2.6 Market Size Estimations & Forecasts (2019-2024)
6.2.7 Y-o-Y Growth Rate Analysis
6.2.8 Market Attractiveness Index
6.3 3D Printing in Healthcare Market, By Application
6.3.1 External Wearable Devices
6.3.2 Clinical Study Devices
6.3.3 Implants
6.3.4 Tissue Engineering
6.3.5 Market Size Estimations & Forecasts (2019-2024)
6.3.6 Y-o-Y Growth Rate Analysis
6.3.7 Market Attractiveness Index
6.4 3D Printing in Healthcare Market, By End-User
6.4.1 Medical & Surgical Centers
6.4.2 Pharmaceutical & Biotechnology Companies
6.4.3 Academic Institutions
6.4.4 Market Size Estimations & Forecasts (2019-2024)
6.4.5 Y-o-Y Growth Rate Analysis
6.4.6 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Component
7.2.3 By Technology
7.2.4 By Application
7.2.5 By End-User
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Component
7.3.3 By Technology
7.3.4 By Application
7.3.5 By End-User
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Component
7.4.3 By Technology
7.4.4 By Application
7.4.5 By End-User
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Component
7.5.3 By Technology
7.5.4 By Application
7.5.5 By End-User
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Component
7.6.3 By Technology
7.6.4 By Application
7.6.5 By End-User
8. Key Player Analysis
8.1 3D Systems Corporation
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Exone
8.3 Formlabs
8.4 GE
8.5 Materialise NV
8.6 Oxferd Performance Materials, Inc.
8.7 Organovo Holdings, Inc
8.8 Proto Labs
8.9 SLM Solutions Group AG
8.10 Stratasys Ltd.
8.11 Aspect Biosystems
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures
Global, Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
The segment-level analysis in terms of by type, application, end-use,along with market size forecasts and estimations to detect key areas of industry growth in detail
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographics, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
A comprehensive list of key market players along with with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions
Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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