Upcoming Market Trends of 3D Printing in Healthcare
3D printing is a type of additive manufacturing as it instead of removing material to create a component, the process adds 3D printing material in successive patterns to produce the desired form. 3D printing utilizes software that breaks down the product into layers. Each layer is then produced by depositing the material layer by layer. 3D printing technique eliminates waste material as produced in subtractive manufacturing. A disadvantage of 3D printing is that to implement this process generally includes high-cost hardware and expensive 3D printing materials. Further, All the parts that are manufactured using 3D printing technology first have to be created on some type of CAD software. Manufacturing a product using 3D printing requires computer-aided design software and designer which further increases the overall cost associated with the implementation of 3D printing process. General types of 3D printing are fused deposition modeling, stereolithography, selective laser sintering, etc.
According to the research report, global 3D printing in healthcare market in 2019 was approximately USD 1,600 million. The market is expected to grow at a CAGR of 23.0% and is anticipated to reach over USD 19,000 million by 2026.
In recent years, the number of orthopedic surgeries has increased due to the increasing number of hospitals and surgeons around the world. This has led to an increase in the number of hip and knee joint knee replacement surgeries, which has further driven the demand for orthopedic implants. Further, the increasing awareness among patients and healthcare professionals regarding customized implants has led to an increased demand for 3D printed in healthcare market. Moreover, another factor that has propelled the growth in the 3D printed in healthcare market is the growing dental care sector around the world. Growing disposable income and rising awareness regarding oral and dental care has bolstered the dental care sector, which has led to an increased demand for dental implants market. This, in turn, has driven the 3D printing in dental care market. However, technical considerations and high cost associated with the installation and operating of 3D printing has affected the growth of 3D printed in healthcare market in developing countries with limited healthcare spending.
Based on the product, the syringe-based segment dominated the global 3D printed in healthcare market, accounting for a market share of nearly 40% in 2019. Easy operating and low cost of syringe-based systems compared with its counterparts have fueled the syringe-based 3D printing market. In terms of technology, the fused deposition modeling (FDM) segment dominated the global 3D printed in healthcare market in 2019, the segment accounted for a market share around 40%. The growth in the fused deposition modelling (FDM) market is attributable to the technological advancements offered by the technology over other types. Based on the application, the dental segment dominated the global 3D printed in healthcare market, having a market share of 25% in 2019. The rising demand for dental implants has led to a driven the 3D printing in dental care market.
Top Market Players
Top key players operating in the market are Materialise, Autodesk Inc., Stratasys Ltd, Cyfuse Biomedical K.K, 3D Bioprinting Solutions, Organovo Holdings Inc., Formlabs, Inc., 3D Systems, Optomec, Inc., Advanced Solutions, Inc., Arcam AB, ExOne Company, H Intressenter AB, Ponoko, Rokit, Aspect Biosystems Ltd, Voxeljet AG, and others.