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3D Printing in Healthcare Market Forecast to Reach $2.5 Billion by 2026

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3D Printing in Healthcare Market Forecast to Reach $2.5 Billion by 2026

April 19
16:29 2021
3D Printing in Healthcare Market Forecast to Reach $2.5 Billion by 2026

3D Printing in Healthcare Market
Rising Demand for Implant Customizations During Surgical Procedures Coupled With Growing R&d Investments Is Also Driving the Global 3D Printing in Healthcare Market.

The 3D Printing in Healthcare Market is forecast to reach $2.5 billion by 2026, growing at a CAGR of 17.75% from 2021 to 2026. 3D printing is a process in which materials are joined or hardened under the control of a computer to create a 3D object, with material being added together (such as liquid molecules being fused together). 3D printing is used in both rapid prototyping and additive manufacturing. The shape or geometry of an object can be of any type and is produced typically using digital model data from a 3D model or other electronic data source. The increasing adaptation of 3D printing technologies into healthcare helps the market to grow at a high rate. The increasing adoption is because of the wide spectrum of 3D printing applications in healthcare. In 2020, printers have dominated the market share in terms of revenue, and the market is estimated to grow at a CAGR of 16.1% throughout the forecast period.

3D Printing in Healthcare Market Segment Analysis – By Type

SLS Printing has dominated the 3D Printing in Healthcare Market as compared to the other types. SLS Printer uses powdered material as the substrate for printing new objects. A laser draws the shape of the object in the powder, fusing it together. Then a new layer of powder is placed and the process repeats building each layer one by one to form the object. Laser sintering is used to create plastic, metal and ceramic objects. The degree of detail is limited only by the accuracy of the laser and the quality of the powder, so it is possible to create detailed and delicate structures with this type of printer. Fused Deposition Modeling printers are more common and inexpensive than the Selective Laser Sintering printers. However their applications are currently limited.

3D Printing in Healthcare Market Segment Analysis – By Applications

The applications include the medical uses such as, organ fabrication, anatomical models, and creation of customized prosthetics, drugs and tablets and many more. The end users include Prosthetics, Medical Components, Tissue Engineering, Hearing Aids, Surgical Guides, Dental Implants, Drug Screening and many more. 3D printing has been used by the manufacturing industry for decades to produce product prototypes. Many manufacturers use large, fast 3D printers called rapid prototyping machines to create models and molds. This is mainly owing to shorter treatment times, less invasive, Less post-operative strain which are contributing to the growth of this segment.

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3D Printing in Healthcare Market Segment Analysis – By Geography

North America is the leading market in the 3D Printing in Healthcare Market with 39% of the total share and it is followed by Europe. U.S. is majorly contributing towards to the development and increasing share in Americas market. In Americas regions, the Stereo lithography (SLA) is a leading technology majorly adopted in 3D printing market. With the improvement of a variety of processes in 3D printing technology in healthcare, SLA has continued to surpass its initial application in modeling and prototyping. The technology is capable to design highly complex and individually designed geometrics. 3D Printing in Healthcare Market in the Asia Pacific region is growing at a significant pace due to rising adoption of 3D Printing across applications in APAC market. Plastic materials used in 3D printing in healthcare are projected to grow at an impressive rate, it is expected that the total plastics shipped for medical printing purposes would be over 570 tons in 2020.

3D Printing in Healthcare Market Drivers

Rising Number of Applications for 3D Printing

One of the main drivers in the global 3D Printing in Healthcare Market is the growing use of this technology in many applications like transplantation, drug delivery, 3D printed organs and many others in the healthcare industry. Rising demand for implant customizations during surgical procedures coupled with growing R&D investments is also driving the global 3D Printing in healthcare market. The increasing adoption is because of the wide spectrum of 3D printing applications in healthcare. The rising number of applications combined with declining cost of 3D Printing and printers will spur the growth of 3D Printing market.

New Technological Advancements drives Adoption of 3D Printing in Healthcare

Technological advancement helps to focus on developing new 3D-printed products which increases the demand for 3D printing in the healthcare industry some factor driving the growth of the market. Moreover, increasing research and development activities helps to develop new treatments for multiple diseases are contributing to the growth of 3D Printed Medical Devices Market. Engineers from Pohang University of Science and Technology, South Korea have successfully developed “bio-blood-vessels” from a 3D printer using material extracted from the human body as a template. These blood vessels are also capable of acting as drug carriers that will release the drug into its inserted surroundings thereby increasing the likelihood of a successful implant. Spanish Scientists from the Universidad Carlos III de Madrid, Spain, Center for Energy, Environmental and Technological Research (CIEMAT), Hospital General Universitario Gregorio Marañón, in collaboration with the firm BioDan Group, Spain, have presented a prototype for a 3D bioprinter that can create totally functional human skin. This skin is adequate for transplanting to patients or for use in research or the testing of cosmetic, chemical, and pharmaceutical products. Such advancements are expanding the scope of 3D Printing in healthcare and are thereby driving the market.

3D Printing in Healthcare Market Challenges

High Cost of 3D Printing

One of the major challenges in the global 3D Printing in Healthcare Market is the high cost of 3D printers. Technologies like stereolithography, laser beam, electron beam, photopolymerization and droplet deposition techniques are way too costly. Business and Industrial printers which are typically used in healthcare sector cost around $10,000 and thus present a major hurdle for facilities to adopt. While the 3D Printed products can reduce the price of the final products significantly and improve efficiency, the high cost of 3D Printers remains a major obstacle to their adoption.

Market Landscape

Product launches, acquisitions, and R&D activities are key strategies adopted by players in the 3D Printing in Healthcare Market. Hewlett Packard , Medical Molding Inc., Proto Labs, 3D Systems, Stratasys, SLM Solutions, Nano Dimension and ExOne are considered to be the key players of the 3D Printing in Healthcare Market.

Acquisitions/Technology Launches/Partnerships

In February 2018, Johnson & Johnson announced the launch of 3D bio print center of excellence. This new facility is established due to collaboration between the medical device and pharmaceutical giant, AMBER (Advanced Materials and Bioengineering Research) and Johnson & Johnson. The Centre has been operational by July-2019 and the facility will carry out various orthopedics research projects.

Engineers from Pohang University of Science and Technology, South Korea have successfully developed “bio-blood-vessels” from a 3D printer using material extracted from the human body as a template. These blood vessels are also capable of acting as drug carriers that will release the drug into its inserted surroundings thereby increasing the likelihood of a successful implant.

Key Takeaways

Metal 3D printing is a precise and cost-effectual method for the manufacturing of template components and as an end components for use in different environments, without the investment in time and money of conventional tooling.

Rising demand for implant customizations during surgical procedures coupled with growing R&D investments is also driving the global 3D Printing in healthcare market.

One of the major challenges in the global 3D Printing in Healthcare Market is the high cost of 3D printers.
Lack of skilled professional and stringent government regulations are challenging the growth of the market.

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