Kenneth Research has examined the statistical and analytical approach that is required for the growth of Healthcare 3D Printing Market for the period 2022 and 2031. The key industrial insights provided in the report gives a better idea about the market overview to the readers regarding the existing scenario in the market. In addition, the report includes detailed discussion on current and future market trends that are associated with the growth of the market.
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 Healthcare 3D Printing Market Products.
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According to the statistics by the World Bank, in the year 2017, a total of 9.896 % of GDP was observed around the world as current health expenditure.
The global healthcare 3D printing market is projected to expand at a CAGR of 23.1% and will be worth USD 2.48 billion by 2024. Increasing demand for customized healthcare solutions, such as dental and surgical implants, is driving the growth of 3D printing in the healthcare sector. Additionally, 3D printing is helping improve the efficiency and precision of the healthcare system in a cost-effective manner. Volume production and patient-specific capabilities are among the most important factors taken into consideration when looking at the impact of 3D printing on the medical devices industry.
Segmentation based on technology
The various 3D printing technologies used in the healthcare space are Selective Laser Sintering (SLS), Fused Deposition Modeling (FDM), Material Jetting, Stereolithography (SLA), Direct Metal Laser Sintering (DMLS), and Digital Light Processing (DLP), among others. The FDM technology-based healthcare 3D printing market is expected to expand at the highest CAGR of 25% during 2019-2024, leading to a global revenue generation of USD 709 million by 2024. The growth can be attributed to increasing use of FDM technology in geometric development of basic surgical models with a wide range of colors. Although the finished products that use FDM technology are low in number, the technology is most preferred to develop low-cost prototypes for design optimization. On the other hand, DMLS is the most preferred metal 3D printing technology. The DMLS technology-based healthcare 3D printing market is expected to expand at a significant CAGR of 22.9% during 2019-2024.
Segmentation based on application
Based on applications, the healthcare 3D printing market is segmented by dental implants and orthodontics, surgical guides, surgical implants, hearing aids, prosthetics, tissue engineering, and others. Dental implants and orthodontics are the leading sub-segment which generated a revenue of USD 231.5 million in 2018 and is expected to expand at the CAGR of 21.4% during 2019-2024. However, the 3D printing surgical implants market is expected to witness the highest CAGR of 27.1%. Besides, easy accessibility and affordability of 3D printed surgical guides are increasing the demand for precise anatomical models for surgical planning. The market share of 3D printed surgical guides is expected to increase from 21% in 2018 to 24% in 2024.
Regional insights
North America is the leading contributor to the global healthcare 3D printing market. The North American healthcare 3D printing market is projected to expand at a CAGR of 22.7% during 2019-2024, leading to a global revenue of USD 901.2 million by 2024. However, the Asia-Pacific (APAC) region is anticipated to expand at the highest CAGR of 25.9% between 2019 and 2024. The growth can be attributed to increasing demand for dental implants owing to the rising edentulous population. In the APAC healthcare 3D printing market, China, Japan, South Korea, Australia, and India are the key contributing countries.
Companies Covered
• 3D Systems
• Stratasys
• Materialise
• Envisiontec
• Formlabs
• Prodways
• Renishaw
• Organovo
• Cellink
• Protolabs
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The Market report answers the following questions:
What is the aim of the report?
- The Healthcare 3D Printing Market report presents the estimated market size of 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 Players
- 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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