DUBLIN--(BUSINESS WIRE)--The "3D Printing in Healthcare Market by Component, Technology, Application and End User: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The 3D printing in healthcare market was valued at $1,036.58 million in 2020, and is projected to reach $5,846.74 million by 2030, growing at a CAGR of 20.10% from 2021 to 2030.
3D printing is a rapidly emerging technology, which empowers manufacturers in the medical sector to produce customized medical equipment and products. It is also known as additive manufacturing that utilizes a layer-by-layer addition technique to produce physical objects from a three-dimensional digital file. 3D printing technology caters to the rise in demands for personalized medical care by providing customized medical devices based on individual needs.
In addition, it provides several advantages over traditional reconstructive surgeries by reducing the operative risks involved during complex procedures, minimizes the susceptibility to infections, and decreases the duration of anesthesia exposure. This enables patients to recover faster and reduce the duration of hospital stay. In addition, 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 the use of 3D printing technology in the pharmaceutical industry.
The 3D printing technology has witnessed increased adoption in the healthcare sector. However, surge in requirement of variations in the technical aspects of the printers is expected to boost the market. In addition, the development of portable and energy-efficient 3D printers is a rapidly emerging trend in the 3D printing industry.
Furthermore, utilization of this technology to predict the mechanical and tensile strength, apart from offering flexibility to the 3D-printed objects, is projected to increase its applicability in novel healthcare applications. Product innovation and increase in applications of 3D printing in the healthcare sector are the major factors, which are expected to drive the market growth.
The market is expected to witness significant growth during the forecast period, owing to numerous technological innovations in this sector. In addition, heavy investments for R&D activities, rapid expansion of customer base, increase in scope of biomedical applications, and extensive R&D activities for the advancement in 3D printers at the academic and industrial level have fueled the market growth.
Key Benefits
- The study provides an in-depth analysis of the global 3D printing in healthcare market along with the current trends and future estimations to elucidate the imminent investment pockets.
- A comprehensive analysis of the factors that drive and restrict the market growth is provided in the report.
- Comprehensive quantitative analysis of the industry from 2020 to 2030 is provided to enable the stakeholders to capitalize on the prevailing market opportunities.
- Extensive analysis of the key segments of the industry helps to understand the products and end users of 3D Printing in Healthcare used across the globe.
- Key market players and their strategies have been analyzed to understand the competitive outlook of the market.
Market Dynamics
Drivers
- Technological advancements in 3D printing
- Customization & personalization
- Augmented R&D investments
- Presence of large patient pool
- Increase in biomedical applications
Restraints
- High cost associated with 3D printing
- Increase in reimbursement challenges
- Upsurge in copyright & patent concerns
- Lack of skilled labor
Opportunities
- Rise in pharmaceutical applications
- Availability of bioprinting tissues & organs
Key Players
- 3D Systems Corporation
- Exone Company
- Formlabs Inc.
- General Electric,
- Materialise NV
- Oxford Performance Materials, Inc.
- Organovo Holdings, Inc.
- Proto Labs
- SLM Solutions Group AG
- Stratasys Ltd
For more information about this report visit https://www.researchandmarkets.com/r/8umwe3.
