3D Printing in Healthcare Global Market Report 2022: High Precision and Efficiency Compared to Traditional Manufacturing Fuels Growth
Dublin, Feb. 22, 2023 (GLOBE NEWSWIRE) -- The "3D Printing in Healthcare Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 To 2030" report has been added to ResearchAndMarkets.com's offering.
With the rising advancement and adoption of 3D printing, the technology is expected to become prominent in the healthcare industry. 3D printing can be used to make implantable and non-implantable medical objects with high precision. 3D printing offers higher accuracy and faster output as compared to the traditional manufacturing process.
This makes 3D printing a clean, fast and efficient manufacturing process with minimal wastage of raw materials. Some of the most popular technologies used in healthcare 3D printing include polyjet, fused deposition modeling (FDM), selective laser sintering (SLS) and stereolithography (SLA) among others.
The most significant factor fueling the market growth is the high precision and efficiency of the 3D printing process over traditional manufacturing. 3D printing of human/animal tissues helps reducing the need for repetitive experimentation and testing of drugs and medical devices.
Thus, medical devices produced using 3D printing are reliable and hence improves the overall medical treatment. In addition, since the manufacturing process is based upon a digital model, the products are easier to customize and manufacture. Subsequently, the 3D printing market is estimated to register exponential growth worldwide in the coming years.
Nevertheless, a major factor hindering the market growth is the high initial cost especially in the case of individual user. The software tools required for 3D printing too are costly making the overall process inflated. In addition, 3D printing requires skilled labor which becomes a challenge for the industry growth.
3D Printing in Healthcare Market By technology
The 3D printing market comprises large number of technologies for different applications. PolyJet, stereolithography (SL) and fused deposition modelling (FDM) are among the most popular technologies used for healthcare 3D printing. Amongst these, polyjet 3D printing segment accounts for the largest share, in terms of revenue, in the global healthcare 3D printing market. The PolyJet technology segment is followed by the FDM technology.
PolyJet technology offers high precision and smooth surfaces on the finished product. This eliminates any need for repetitive experiments thereby enabling better and faster treatment. Moreover, PolyJet 3D printing is faster as compared to various other technologies. As a result, the segment is estimated to retain its dominant position in the healthcare sector throughout the forecast period.
3D Printing in Healthcare Market By Geography
As of 2020, the 3D printing market worldwide is dominated by the North America region. The North America segment contributes to more than one third of the total revenue generated worldwide, as of 2020. The region experiences strong penetration of 3D printing technology across various applications. Additionally, the region enjoys presence of large number of players thereby supporting the market growth. Several dental as well as medical organizations are already using 3D printing technology in their treatment.
Due to strong potential and benefits of 3D printing, the Food & Drug Administration (FDA) has already begun investing on further research in order to gain better understanding of the technology. In August 2021, the FDA approved the first drug produced using 3D printing technology. As a result of the ongoing investment on 3D printing technology, North America is estimated to retain its dominant position in the market throughout the forecast period.
The Asia Pacific region is expected to register the highest growth in the coming years. The market growth here is mainly supported by China and Japan having strong adoption rate of 3D printing technology. These countries have already started investing on the technology for research and development of healthcare products. Similarly, strong market growth is expected from the Middle East region, majorly due to their high expenditure over healthcare technologies.
Fused Deposition Modelling (FDM)
Electron Beam Melting
Selective Laser Sintering (SLS)
Key Questions Answered in this Report
What are the key micro and macro environmental factors that are impacting the growth of 3D Printing in Healthcare market?
What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
Estimated forecast and market projections up to 2030.
Which segment accounts for the fastest CAGR during the forecast period?
Which market segment holds a larger market share and why?
Are low and middle-income economies investing in the 3D Printing in Healthcare market?
Which is the largest regional market for 3D Printing in Healthcare market?
What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Which are the key trends driving 3D Printing in Healthcare market growth?
Who are the key competitors and what are their key strategies to enhance their market presence in the 3D Printing in Healthcare market worldwide?
3D Systems Inc.
Concept Laser GmbH
EOS GmbH Electro Optical Systems
For more information about this report visit https://www.researchandmarkets.com/r/jgmpid-printing-in?w=12
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