3D Printing in Healthcare Market – Global Outlook & Forecast 2021-2031

3D Printing in Healthcare Market by Offering [Instruments & Materials, Software and Services], Technology [Laser Beam Melting, Photopolymerization, Droplet Deposition (DD), Electronic Beam Melting (EBM) and Laminated Object Manufacturing], Application [Medical Implants, Prosthetics, Wearable Devices and Tissue Engineering] – Global Analysis & Forecast 2021-2031

Clairvoyance Research conducted an in-depth market analysis study of the global 3D printing in healthcare market. According to the study, the market was valued at ~US$ 6.34 billion in 2020. The market is expected to witness a CAGR of ~23.3% from 2021 to 2031. 

Growing application of 3D printing in healthcare industry, technological advancements, growing public & private investments, growing demand of customized implants & medical products and rising trend of personalized medicine are some of the pivotal factors propelling the growth of the 3D printing in healthcare market. However, lack of skilled professionals and socio-ethical concerns related to use of 3D printed products are likely to hamper the growth of the market to a certain extent.

With an aim to fast-track the development of 3D printing in healthcare industry and to meet the needs of the healthcare sector, several initiatives such as providing necessary funding, grants, permissions, clearances & approvals are been instigated by various organizations and government agencies across the world. For instance, in Nov 2020, 3D Systems and the Veterans Health Administration (VHA) entered into a contract to employ additive manufacturing (AM) solutions to better serve veterans with next-generation medical devices produced at the point of care. Through this collaboration, 3D Systems will support the VHA as they establish U.S. Food and Drug Administration (FDA) compliant manufacturing facilities within their hospitals for production of additively manufactured medical devices. The collaboration allows VA network to streamline its supply chain and accelerate innovation to enhance personalized care for their U.S. veterans.

Crafting prosthetics and adapting an implant to a specific patient’s body can be a complicated and expensive process as every patient body is unique. With the help of 3D printer, a patient can be offered with uniquely tailored customized medical devices with lower cost and production time. 3D printing also assists to adapt an implant as per the patient’s body by conforming the implant to a 3D model. 3D printing also offers an opportunity for the development and preparation of personalized medicines. With the help of 3D printers in hospital settings a dose & delivery system can be formed based on the patient’s body size, age, lifestyle, and sex. These benefits provided by 3D printing is expected to boost the growth of the market.

3D printing can also be used to replace animal testing in drug development stages.New drugs, vaccines, and cosmetics are tested on animals to ensure their efficacy & safety before testing it on humans. A functional, living, 3D human tissues of particular organs can be created by using 3D printing. These 3D tissues can mimic the reaction of the human tissue/organ and can give much more predictive results for drug candidates without harming any animals. Additionally, they also reduce the chances of late-stage failures of the drug candidate.

As the field of 3D printing technologies is constantly evolving, it offers genuine potential to improve medical treatments for conditions ranging from bone cancer and arthritis to glaucoma and hearing loss. But these developing technologies also raises a number of ethical questions. The three main ethical issues which are of great concern are - justice in access to 3D printing healthcare in terms of cost, testing for safety & efficacy, and whether these technologies should be used for human enhancement beyond normal. These factors are expected to limit the growth of the market to a certain extent.

The Asia Pacific region is expected to be the fastest growing 3D printing in healthcare market. Factors such as developing healthcare infrastructure, rising investments by prominent players to develop & launch advanced technology, and rising awareness of applications of 3D printing in healthcare sector can be attributed to the growth of the market. Countries such as India, China and Japan in the APAC region are projected to offer significant growth opportunities owing to presence of large patient pool and rising public & private awareness programs in the region.

The 3D printing in healthcare market is marked by presence of prominent players such as 3D Systems, Inc., ENVISIONTEC, INC., GENERAL ELECTRIC, Stratasys Ltd., EOS, Materialise, 3T Additive Manufacturing Ltd., PRODWAYS, Renishaw plc., and Biomedical Modeling Inc. Other players operating in the market are Carbon, Inc., SLM Solutions, Organovo Holdings Inc, Anatomics Pty Ltd, among others.

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