Ocean View, DE -- (SBWire) -- 05/14/2020 --Healthcare 3D Printing Market will exceed USD 2.2 billion by 2024; as per a new research report.
Introduction of new technology and growing R&D investments will drive healthcare 3D printing market growth. Escalating preference of patients for personalized implants and availability of such implants should further stimulate demand for medical 3D printed implants. Additionally, 3D printing has widespread applications in individualized transplants for prosthetic joints for shoulders, jaws, and knees; extensive applications will spur industry growth.
Rising demand for healthcare 3D printing products and availability of efficient additive manufacturing technology should foster business growth. For instance, in March 2017, 3D Systems announced scalable, modular, and fully integrated additive manufacturing. This would meet durability & requirement of production environment. The firm showcased enhanced additive manufacturing that is based on Figure 4 technology along with NextDent materials. Aforementioned advancement should boost business growth in dental 3D printing industry.
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Price of materials used in 3D printing and lack of trained professionals will hinder healthcare 3D printing market growth. For instance, price of plastic feed material in 3D printing is in the range from USD 60 to USD 425 per kilogram. Such excessive price of materials should hinder healthcare 3D printing market growth.
Magnetic levitation is estimated to grow at 22.6% during the forecast timeframe owing to high adoption in the field of vascular smooth muscle bioprinting, toxicity screening, human cells generation and associated drug response management.
Fused deposition modeling (FDM) held USD 244.5 million in 2017, due to surging number of individuals having bone disorders, auditory damage, and dental disorders. Furthermore, FDM has extensive applications in healthcare as well as in prototyping scaffolds for medical tissue engineering; and FDM technology is cost-effective these factors will render positive impact on business growth.
Biosensors held 19.7% of overall market share in 2017 and is anticipated to grow lucratively in foreseeable future. Technological advancements coupled with ongoing research on biosensors to launch enhanced devices should boost segmental growth. For instance, biosensors that can measure significant biological signs of pre-and post-surgery are devices fostering market growth.
U.S. healthcare 3D printing market is projected to grow at 21.0% during forecast timeline. Surging investments in R&D along with rising demand and wide-ranging clinical applications of 3D printing will augment market growth.
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India healthcare 3D printing market accounted for 13.7% market share in 2017, owing to increasing adoption of 3D printed products and escalating demand for individualized implants. Growing number of road accidents in India will impact positively on business growth.
Notable industry competitors are Aprecia Pharmaceuticals, Aspect Biosystems, Bio 3D Technologies, BioBots, Cyfuse Biomedical, Digilab, 3Dynamics Systems, Envision TEC, Luxexcel, Materialise NV, Nano3D Biosciences, Oceanz, Organovo Holdings, regenHU, Renishaw, Solidscape, Stratasys, TeVido BioDevices, 3D Bioprinting Solutions, 3D Biotek, and 3D Systems.
Prominent business players are focusing on strategic acquisition and partnerships. Introduction of technologically advanced healthcare 3D printing devices should favor industry growth over the forecast period. The firms existing in the U.S. are technologically making tremendous development due to acquisitions, and collaborations. For instance, Stratasys announced its partnership with MTC Manufacturing Technology Centre of UK for using additive manufacturing as catalyst in technological and in March 2017, the firm unveiled J700 Dental that is a 3D printing solution made of Poly jet-based 3D printer applied in production of aligner clear molds.
