Portland, OR -- (SBWIRE) -- 06/13/2017 -- Global 3D Printing Healthcare Market was valued at $579.0 million in 2014, and is expected to garner $2,363.8 million by 2020, registering a CAGR of 26.2% during the forecast period 2015-2020. 3D printing technology is a rapid emerging technology, which empowers manufacturers in the medical sector to produce customized medical equipment and products.
3D printing, also known as additive manufacturing, utilizes a layer-by-layer addition technique to produce physical objects from a three-dimensional digital file. The 3D printing technology caters to the rising demands of personalized medical care by providing customized medical devices based on individual needs.
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In addition, 3D printing technology would facilitate surgeons to improve the success rate of complicated procedures. Moreover, this technology has revolutionized preclinical drug testing by facilitating testing on 3D printed organs as an alternative to animal testing. The recent success in the 3D printing of tablets has opened new avenues for the 3D printing technology for use in the pharmaceutical industry.
This market is expected to witness significant growth during the forecast period on account of the numerous technological innovations in this sector. In addition, augmented R&D investments, rapidly expanding customer base, increasing scope of biomedical applications, and extensive research and development activities at the academic and industrial level have fueled the market growth. Furthermore, collaborations between academic institutions and companies to accelerate the process of product development has supplemented the market growth. However, absence of a structured regulatory framework, unfavorable reimbursement policies, high costs associated with printers, copyright & patent infringement concerns, biocompatibility issues of 3D printed medical devices, and limited technical expertise are the major factor hampering the growth of the market.
The report provides comprehensive competitive analysis and profiles of prominent market players, such as 3D Systems Corporations, Stratasys Ltd., SLM Solutions Group AG, EnvisionTEC, Arcam AB, Organovo Holdings, Inc., Oxford Performance Materials, Inc., Materialise NV, Bio3D Technologies, and Cyfuse Medical K.K.
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3D PRINTING HEALTHCARE MARKET KEY SEGMENTS:
-Fused deposition modeling (FDM) technology
-Low-temperature Deposition Manufacturing (LDM)
-Multiphase Jet Solidification (MJS)
-Continuous Liquid Interface Production (CLIP)
-Two-Photon Polymerization (2PP)
Laser Beam melting
-Selective Laser Sintering (SLS)
-Selective laser melting (SLM)
-Direct Metal Laser Sintering (DMLS)
Electronic Beam Melting (EBM)
Laminated Object Manufacturing
Market BY APPLICATION
-Drug Discovery & Development
MARKET BY END-USERS
-Medical and surgical centers
-Pharma and biotech companies
Market BY GEOGRAPHY