Healthcare 3D Printing Market To Grow At 18% CAGR
Healthcare 3D Printing Market Size (2020 to 2025)
As per our research report, the global healthcare 3D printing market size is forecasted to be growing at a CAGR of 18% between 2020 to 2025. 3D printing provides a huge promise in the world of health care, particularly because of the potential to create highly personalized items at the point of care. However, this situation still poses obstacles to effective supervision. Also, 3D printing continues to help humanity fight the pandemic in numerous ways.
The medical sector is considered the most innovative in modern therapies, and technologies have been developed. Not to mention the innovations that push all this forward. There's no lack of miracles because that's all going on. Now there's also 3D printing in healthcare. Aprecia Pharmaceuticals' Spritam for epilepsy is the first and only FDA-approved 3D-printed drug. 3D printing, also known as additive manufacturing, uses a layer-by-layer additive process to manufacture physical, personalized medical devices and products from a three-dimensional data file. It is known that medical applications for 3D printing, both current and future, would bring about innovative improvements. They may be grouped into many wide categories, including the production of personalized prosthetics, implants and anatomical templates, tissue and organ manufacturing, the manufacture of specialist surgical instruments, medicinal science in the manufacture of drugs, dosage forms, delivery & discovery, and manufacturing of medical devices.
Besides, it offers many benefits over conventional reconstructive surgeries by lowering the procedural complications inherent in complicated operations, decreasing the vulnerability to infection, and reducing the period of anesthesia exposure. Moreover, 3D printing technology allows surgeons to increase the success rate of complex operations. The benefits of implementing 3D printing in medicine include not only customization and customization of medical devices, medications, and supplies but also cost-effectiveness, improved efficiency, the democratization of production and production, and enhanced cooperation.
The global market for healthcare 3D printing has expanded due to developments in medical research, testing, and analysis. Selective Laser Sintering (SLS) is widely using printing, showing the highest growth in the market. In the medical sector, 3D printing technology is gaining momentum. 3D printing allows archetypes and blueprints for objects and objects, and this process plays a vital role in many industries. The use of 3D printing in the healthcare sector has reshaped the healthcare industry's rising complexities worldwide. Industries like hip and knee braces to dental crowns, hearing aids and prosthetic limbs, and orthotics accessories showing substantial market growth. Hence, the medical implants healthcare 3D printing market is registering the highest CAGR growth. With these subtleties in mind, it is clear that the global healthcare 3D printing market expands at a sound pace in the times ahead.
Apart from these, recent technical inventions in 3D printing in healthcare are the crucial factors responsible for the healthcare 3D printing market's success. Fused deposition modeling (FDM) technology accounts for the largest market share in the market. Computer-assisted manufacturing tools and increasing demand for the minimum cost of 3D printers also allowed more hospitals to set up 3D printing labs. Several firms are rapidly focused on creating new 3D-printed devices and technology to satisfy the emerging need for 3D printing in the healthcare market. Also, the healthcare 3D printing industry shows substantial growth as a result of government action to develop healthcare facilities and increase investment in the R&D industry. Also, healthcare practitioners are rapidly pursuing 3D printing because it decreases the complications involved with anesthesia during long procedures and strengthens healthcare.
Rising demand for implants customizations during surgical procedures coupled with growing R&D investments, growing clinical usage of 3D printing in pharmacology such as polypill that is used for the treatment of numerous diseases, collaborations between academic institutions, hospitals, and companies, increasing geriatric population drives the 3D printing medical devices market.
However, Stringent regulatory process for the approval of 3D-printed medical devices, a Dearth of skilled professionals coupled with the high cost of 3D printing software, high printers' costs, and biocompatibility issues 3D-printed medical devices are the major factors hampering the growth of the market.
Furthermore, untapped markets in the developing countries, direct digital manufacturing, the reconfiguration of supply chain models of medical device suppliers, the expiry of core patents in the coming years, and the rising demand for organ transplantation are projected to create growth opportunities for market players. Personalized digital data also provides a roadmap for the future. The recent popularity in 3D printing of tablets will open new doors for applying 3D printing technology in the pharmaceutical industry.
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Impact of COVID-19 on the global Healthcare 3D printing Market:
In the event of a COVID19, open-source systems facilitate quick improvement based on the contributions of many people who work remotely. The citizen supply chain focused on 3D printing was reported to be a powerful approach during COVID19. This approach can be found in a variety of manufacturing sectors. The multiple problems facing healthcare facilities were brought to the fore in 2020 due to the pandemic, including shortages of prescription materials, supply chain delays, and a lack of personal protective equipment (PPE) for healthcare employees. The industry's responsiveness has eased some of the big shortages faced by the healthcare sector in the battle against COVID-19. Over the six months of 2020, 3D printing has proven its worth by manufacturing on-demand medical supplies such as PPE and COVID-19 research swabs. 3D printing emerged as a vital pandemic method because the materials used to build PPE parts, test swabs, ventilator components, and other short supply products could be manufactured and produced locally. Biocompatible materials have allowed these materials to be produced, tested, validated, and easily applied to patients. Businesses, hospitals conducted many projects and partnerships, and researchers used 3D printing after the COVID-19 pandemic and to support local 3D printing activities that can be life-saving.
The FDA also issued emergency use authorizations as it did in response to the COVID-19 pandemic for such 3D-printed ventilator units, leading to the prominent growth of the market. The scalability and durability of the technology will continue to support the healthcare sector even after the pandemic's conclusion. Also, limitations on transport and commerce, quarantine, border controls, and interruption of production significantly affect the global supply chain of essential medical products. Fortunately, 3D printing technology can be an efficient solution to this issue. Using this technology, the developed open-source prototypes of medical devices are widely shared.
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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:
Healthcare 3D Printing Market - By Technology:
- Droplet Deposition (DD)
- Fused Deposition Modeling (FDM) Technology
- Low-temperature Deposition Manufacturing (LDM)
- Multiphase Jet Solidification (MJS)
- Stereolithography (SLA)
- Continuous Liquid Interface Production (CLIP)
- Two-photon polymerization (2PP)
- Laser Beam Melting
- Selective Laser Sintering (SLS)
- Selective Laser Melting (SLM)
- Direct Metal Laser Sintering (DMLS)
- Electronic Beam Melting (EBM)
- Laminated Object Manufacturing
Healthcare 3D Printing Market - By Application:
- External Wearable Devices
- Clinical Study Devices
- Tissue Engineering
Healthcare 3D Printing Market - By End-User:
- Medical & Surgical Centers
- Pharmaceutical & Biotechnology Companies
- Academic Institutions
Healthcare 3D Printing Market - By Region:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
Geographically, North America, followed by Europe, is expected to account for the leading share in the global Healthcare 3D Printing Market during the forecast period. Simultaneously, the Healthcare 3D Printing Market is predicted to register the fastest CAGR between 2020 to 2025 among all regions.
KEY MARKET PLAYERS:
Prominent business players of global healthcare 3D printing market are Aprecia Pharmaceuticals, Envision TEC, Luxexcel, Materialise NV, Nano3D Biosciences, Oceanz, Organovo Holdings, revenue, 3Dynamics Systems, Solidscape, Stratasys, TeVido BioDevices, 3D Bioprinting Solutions, 3D Biotek, and 3D Systems, Renishaw, Aspect Biosystems, Bio 3D Technologies, BioBots, Cyfuse Biomedical, Digilab. Key industry players are introducing new technologies that provide personalized implants for patients and a range of other development initiatives to retain their position on the market.
For instance, On 4 January 2021, Aprecia Pharmaceuticals, the organization behind the first FDA licensed 3D print drug Spritam, has entered into a long-term relationship with Battelle, a private non-profit research and development (R&D) company.
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