In a recent published report, Kenneth Research has updated the Market report for Asia-Pacific 3D Printing in Healthcare Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Asia-Pacific 3D Printing in Healthcare Market Products.
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According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
The 3D printing in healthcare market in Asia-Pacific is expected to reach a value of USD 0.59 Bn by 2023, expanding at a compound annual growth rate (CAGR) of 26.0% during 2018-2023.
3D printing can be defined as the process of building three-dimensional solid objects from digital designs. The creation of 3D printed objects is done using various additive processes. The additive processes involves laying down successive layers of a material until the desired object is created. Each of these layers can be visualized as a thinly-sliced horizontal cross-section of the final object. 3D printing is the exact opposite of subtractive manufacturing, which involves hollowing out/carving out pieces of metal or plastic from a mass. This process opens up opportunities for the production of complex shapes using less material in comparison to traditional manufacturing methods. In the field of medicine, this procedure is used to make several objects like prosthetics and implants, using several materials like metal, plastic, etc.
Asia-Pacific will experience the highest CAGR in 3D printing in healthcare market.
The market can be classified into three primary segments based on technology, material, and type.
Based on region, the market is segmented into China, India, Japan, South Korea, Australia and New Zealand (ANZ), and the rest of Asia-Pacific.
Based on technology, the market can be segmented into laser beam melting (LBM), electron beam melting (EBM), photopolymerization, droplet deposition, laminated object manufacturing, and others.
Based on material, the sub-segments are plastic, metal, ceramic and others.
Based on type, the sub-segments include prosthetics, implants, surgical guides, hearing aid and others.
The latest trend is extensive research to make 3D printed products commercially viable.
Key growth factors
The latest technological advancements and rapid adoption in countries like Singapore, South Korea, China and Japan are driving the Asia Pacific market, with increasing focus on bioprinting.
India and Japan, along with China, have higher potential because of a greater emphasis on 3D printing of orthopedic equipment, which caters to the increased demand from the ageing population.
The rising demand for patient-centric products in orthopedics and maxillofacial surgery, and the availability of a range of material options like nylon, polymers, etc., and the reduction in the costs of 3D models have given a thrust to the adoption of 3D printing in various medical fields and are driving the market in the Asia-Pacific region.
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Threats and key players
The utilization of 3D printing in healthcare is still expensive as far as tissues and organ printing are concerned. This is hindering growth in developing regions like the Asia-Pacific.
There is a lack of trained professionals, which is acting as an obstacle to the further development of 3D printing in the healthcare market.
The major players in the market are Stratasys Ltd., Organovo, Cellink, Renishaw, and Formlabs.
What is covered in the report?
1. Overview of the 3D printing in healthcare market in the Asia-Pacific region.
2. Market drivers and challenges in the 3D printing in healthcare market in the Asia-Pacific region.
3. Market trends in the 3D printing in healthcare market in the Asia-Pacific region.
4. Historical, current and forecasted market size data for the 3D printing in healthcare market in the Asia-Pacific region.
5. Historical, current and forecasted market size data for the segment based on technology [laser beam melting (LBM), electron beam melting (EBM), photopolymerization, droplet deposition, laminated object manufacturing, and others]
6. Historical, current and forecasted market size data for the segment based on material (plastic, metal, ceramic, and others).
7. Historical, current and forecasted market size data for the segment based on type (prosthetics, implants, surgical guides, hearing aid and others).
8. Historical, current and forecasted regional (China, India, Japan, South Korea, Australia and New Zealand (ANZ),and the he rest of Asia-Pacific) market size data for the 3D printing in healthcare market.
9. Analysis of the 3D printing in healthcare market in Asia-Pacific by value chain.
10. Analysis of the competitive landscape and profiles of major competitors operating in the market.
1. Understand the demand for 3D printing in healthcare to determine the viability of the market.
2. Identify the developed and emerging markets for 3D printing in healthcare.
3. Identify the challenges and address them.
4. Develop strategies based on the drivers, trends and highlights for each of the segments.
5. Evaluate the value chain to determine the workflow.
6. Recognize the key competitors of this market and respond accordingly.
7. Knowledge of the initiatives and growth strategies taken by the major companies and decide on the direction of further growth.
The Market report answers the following questions:
What is the aim of the report?
- The market report presents the estimated market size of Asia-Pacific 3D Printing in Healthcare Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
- The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
- The various parameters accelerating the growth of Market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the Market during the forecast period.
What aspects regarding the regional analysis Market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
- The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
- The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in the Market including Key Playes
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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