February 24, 2024
3D Printing In Healthcare Market

3D Printing Revolutionizing Healthcare Delivery Projected To Boost The Growth Of 3D Printing In Healthcare Market

The global 3D Printing in Healthcare Market is estimated to be valued at US$ 2.21 Bn in 2023 and is expected to exhibit a CAGR of 19% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

The 3D printing in healthcare market involves the production of prosthetics, implants, surgical instruments, tissue and organ engineering with the use of three-dimensional printing technology. This advanced printing method helps in developing customized implant structures as per patient anatomy using polymer materials, metals and biomaterials. It assists in complex surgeries with 3D printed surgical guides, models and biomaterials. The technology enables accurate design and fabrication of personalized medical devices with intricate internal structures, which conventional manufacturing fails to achieve. The benefits include reduced production time, cost, improvement in aesthetic look and mechanical properties along with enhanced medical outcomes for patients.

Market key trends:

One of the key trends in the 3D printing in healthcare market is increasing applications in dental industry. 3D printed dental products are gaining widespread adoption for restorative and cosmetic procedures. The technology helps in accurate reproduction of oral anatomical structures by mapping 3D digital data. This enables fabrication of dental crowns, bridges, veneers, dentures, models that precisely fit patients’ mouth. Another trend is rising demand for 3D bioprinting of tissues and organs where multiple cell types are printed layer-by-layer to form 3D living tissues that mimic natural physiology. This shows potential to solve challenges related to shortage of donor organs in future. Continuous progress in bioinks, growth factors and cell sources coupled with multidisciplinary collaborations are bringing the field closer to clinical applications.

Porter’s Analysis

Threat of new entrants: The threat is moderate as the 3D printing healthcare market requires substantial investments and technological capabilities. However, declining costs of 3D printing technologies may attract new players.

Bargaining power of buyers: The bargaining power of buyers is high given the presence of numerous players and substitutes. Buyers can negotiate on price and demand customized products.

Bargaining power of suppliers: Material and software suppliers have low-to-moderate bargaining power due to the availability of alternative options.

Threat of new substitutes: The threat is low as 3D printing offers advantages traditional manufacturing cannot provide such as customizable medical devices.

Competitive rivalry: The competitive rivalry is high owing to numerous global and regional players offering differentiated products and solutions.

Key Takeaways

The Global 3D Printing in Healthcare Market Share is expected to witness high growth, exhibiting CAGR of 19% over the forecast period, due to increasing demand for customized medical products and implants.

Regional analysis: North America dominates the market and is expected to continue its dominance over the forecast period. This is attributed to advanced healthcare infrastructure and presence of key players in the region. Asia Pacific is expected to witness fastest growth owing to growing medical tourism and increasing healthcare spending.

Key players: Key players operating in the 3D printing in healthcare market are 3D Systems Corporation, Exone Company, Formlabs Inc., General Electric (GE Additive), Materialise NV, Organovo Holdings, Inc., Oxford Performance Materials Inc., Proto Labs, Inc., Stratasys Ltd., SLM Solutions Group AG, and among others. These players are focusing on new product launches and mergers & acquisitions to gain leading position in the market.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it