Healthcare 3D Printing Market size was valued at USD 578.0 million in 2017 and is expected to witness 21.2% CAGR from 2018 to 2024.
Sellbyville, DE -- (SBWIRE) -- 12/07/2018 -- Healthcare 3D Printing Market size is set to exceed USD 2.2 billion by 2024; according to a new research report by Global Market Insights.
Launch of enhanced 3D printed devices through innovative research should foster market growth. Numerous research centers such as Organovo involve scientists in making artificial organs to study drug effects on functioning of organs. Additionally, prominent industry players are emphasizing efforts on R&D to introduce enhanced 3D printed products enabling scanning through smartphone devices. Aforementioned aspects should stimulate business growth over the forecast period. However, high cost associated with 3D printing software will impede global market growth during the forecast pe
Increasing number of patients suffering from chronic diseases as well as more number of road accidents will substantially augment demand for healthcare 3D printing market. Trending developments associated with surgical prosthesis, pharmaceuticals and medical devices should upsurge revenue size. Rising technological advancements in healthcare 3D printing will favor market growth over the coming years. Moreover, many hospitals have adopted technologically advanced devices that will enhance the business growth.
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Syringe based segment held largest revenue of USD 237.5 million in 2017. Segmental growth is attributable to advantages provided by syringe-based printers and escalating demand for syringe-based printers. Advantages offered by syringe-based printers include adaptability, simplicity and ease of controlling the flow rate of material.
Laser based segment accounted for 18.6% market share in 2017, owing to growing usage of laser-based 3D printers for the process of DNA synthesizing. Moreover, laser printer speeds up the procedure of DNA printing thereby, making it affordable and facilitating effective formulation of medicines.
Selective laser sintering (SLS) technology held USD 164.9 million and is estimated to grow significantly during forecast timeline. The segmental growth is attributable to wide-ranging applications in manufacturing of medical products, aerospace, healthcare, military hardware and consumer goods. In addition to SLS is extremely appropriate for bulky customization as well as custom-made manufacturing in small batches that should foster demand for SLS.
Dental application is projected to grow at 20.5% over the forecast period due to accessible customization at affordable price, and high acceptability by patients. It also allows surgeons to customize and cast mold according to patients' preference through digital scan software such as, AutoCAD and is expected to encourage customer buying behavior.
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U.S. market accounted for 91.1% revenue share of North America in 2017, owing to rising demand coupled with availability of advanced products that includes, kidney models, 3D printed bone, dental guides, 3D printable pill, ear implants, and automated suturing devices.
UK market held USD 31.5 million in 2017 and will witness robust growth over the forecast timeline due to rising adoption of innovative technologies. UK has massive number of local 3D manufacturing hubs as well as they provide training program with an objective to produce wide variation of prosthetic devices. This will act as a growth rendering factor over the coming years.
Key business competitors functioning in global market 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. Notable market players are adopting various strategies such as, merger, acquisition, new product launch to reap profits in healthcare 3D printing market. For instance, in January 2017, Aspect Biosystems announced research collaboration by DePuy Synthes Products, under agreement that is facilitated by Johnson & Johnson innovation. Additionally, Aspect Biosystems lab on a printer 3D Bioprinting platform would be used for developing bioprinted tissue for knee meniscus for surgical therapy.
Chapter 1. Methodology
1.2. Market definitions
1.3. Forecast parameters
1.4. Data sources
22.214.171.124. Paid sources
126.96.36.199. Unpaid sources
Chapter 2. Executive Summary
2.1. Healthcare 3D printing industry 3600 synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Technology trends
2.1.4. Application trends
2.1.5. Regional trends
Chapter 3. Healthcare 3D Printing Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 – 2024
3.3. Industry impact forces
3.3.1. Growth drivers
188.8.131.52. Technological advancements in North America
184.108.40.206. Extended clinical applications in Europe and North America
220.127.116.11. Increasing trends for customized implants in Asia Pacific
18.104.22.168. Growing investments in R&D in Asia Pacific and North America
3.3.2. Industry pitfalls & challenges
22.214.171.124. Lack of skilled professionals
126.96.36.199. High price associated with 3D printing software
3.4. Growth potential analysis
3.4.1. By product
3.4.2. By technology
3.4.3. By application
3.5. Regulatory landscape
3.6. Technology landscape
3.6.1. North America
3.7. Porter's analysis
3.8. Competitive landscape, 2017
3.8.1. Company market share analysis
3.8.2. Strategy dashboard
3.9. PESTEL analysis