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The 3D printing market in healthcare industry size is estimated to grow by USD 5.73 billion at a CAGR of 23.31% between 2023 and 2024. The increased demand for personalized or customized medical devices, driven by factors such as the need for patient-specific solutions and the advancements in medical imaging technologies, is a significant driver. The adoption of 3D printing technology by medical professionals is also increasing, thanks to its ability to create complex structures and improve patient outcomes. Additionally, the cost efficiency and productivity gains offered by 3D printing are making it an attractive option for medical device manufacturing.
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The market share growth by the orthopedic and spinal segment will be significant during the forecast period. 3D printing is used for the fabrication of standard-sized orthopedic implants, patient-matched implants for individuals who have typical bone and joint anatomy, and custom implants for individuals that have bone or joint deformities. Many end-users, such as hospitals and ambulatory surgery centers, are increasingly adopting 3D printing to fabricate orthopedic implants. They can manufacture complex structures that cannot be produced using conventional production methods and create devices that are individually matched to a patient's anatomy.
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The orthopedic and spinal segment was valued at USD 758.30 million in 2018. 3D-printed orthopedic implants are often made of titanium. This technique allows for greater implant porosity than when using traditional manufacturing techniques. Greater porosity may promote bone ingrowth and improve implant stability. They also enable implant developers to enhance the design of spinal implants. This technology enables the development of interbody fusion devices using proven biocompatible and osteoconductive materials.
Moreover, this technology is also used in the fabrication of prosthetic limbs. The technology significantly speeds up the manufacturing process of prosthetic limbs. It also significantly reduces manufacturing costs while offering the same functionality as that of traditionally manufactured prosthetics. The low cost of these products makes them particularly suitable for children, who quickly outgrow their prosthetic limbs. Such factors will increase segment growth during the forecast period.
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North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. A rapidly aging population and growing need for advanced healthcare services are also increasing the demand for 3D printed healthcare products. The 65-year-old population in Canada will exceed 7 million in 2022. Customers in the region have access to technologically advanced healthcare services due to the increasing disposable income of the population. 3D printed healthcare products have direct and indirect costs that increase healthcare spending. Favorable government support, the presence of local suppliers, and the increasing number of companies in the region developing these products are expected to drive market growth in North America.
The healthcare sector relies heavily on skilled medical staff and healthcare professionals to provide quality care and utilize advanced technologies. Innovations in dental implants, made from materials like ceramics, plastics, and elastomers, enhance patient outcomes. Point of care organizations focus on delivering efficient services, including customized implants and biomedical products for bone and cartilage restoration. Technologies such as stereolithography enable precise manufacturing in the syringe-based segment of medical devices. Understanding the anatomical makeup is crucial in treating musculoskeletal injuries effectively. The medical and pharmaceutical sectors collaborate to develop cutting-edge healthcare technologies that improve patient care and outcomes. These advancements align with global efforts to innovate healthcare delivery while ensuring safety and efficacy in syringe-based applications and beyond.
Increased demand for personalized or customized medical devices is the key factor driving the growth of the market. Personalization by printing patient-specific anatomical models and synthetic organs to illustrate health conditions and treatment plans to help patients understand surgical procedures. Individualized surgical instruments such as clamps, hemostats, and forceps can make surgery less painful and deliver better results. Surgical instruments made from biocompatible materials such as thermoplastics and metals and made with 3D printing technology can achieve higher precision and lower costs. The use of 3D-printed implants can significantly reduce the cosmetic deformities associated with such surgeries. These advancements are part of a broader trend towards customized medical devices and personalized healthcare facilities, driven by 3D advanced technology and supported by public-private funding. These technological developments enable the production of patient-specific implants with increased production accuracy.
Moreover, 3D printing is increasingly used in the construction of custom joint prostheses. In addition to enhanced patient comfort, 3D printing can be used to develop customized prosthetics that suit and fit the wearer. The low cost of these products makes them particularly suitable for children, who quickly outgrow their prosthetic limbs. Nearly 99% of the hearing aids that fit into the ear are custom-made using 3D printing. The technology allows customization of the hearing aids as per the unique anatomy of the patient's ear canal while being cost-effective and efficient. Such factors will increase the market growth during the forecast period.
Strategic collaborations and M&A is the primary trend in the market The market in the healthcare industry is seeing an increase in strategic collaborations. Various research centers are looking to develop new technologies and expand the scope of application of the technology. For instance, in April 2021, Ralph H. Johnson VA Medical Center based in Charleston, applied for US FDA approval for its 3D-printed hearing aids. The market is also recording an increasing trend in M&A.
Moreover, in March 2021, 3D Systems announced the collaboration with Huntington Ingalls Industries' Newport News Shipbuilding division to develop Copper-Nickel (CuNi) and Nickel-Copper (NiCu) alloys for powder bed fusion additive manufacturing. Such factors are expected to fuel the growth of the market during the forecast period.
The high initial setup cost of 3D printing facilities are major challenge to the growth of the market. The high capital cost of 3D-printed healthcare products has limited their widespread adoption. The high cost is primarily due to the equipment required for 3D printing or outsourced print service contracts and sophisticated software for post-processing. The cost of a desktop FDM or SLA machine is typically between USD 3,000 and USD 15,000. However, the higher-end additive manufacturing printers (SLS, material jetting, and metal printing) range from USD 200,000 to USD 850,000 and sometimes even several millions of dollars. Another source of high costs of printing is the proprietary raw materials that 3D printer manufacturers sell at high profit margins. Furthermore, end-users must make significant investments in training or hiring skilled personnel to ensure the production of high-quality devices.
However, a clinical 3D printing laboratory requires trained ancillary staff to carry out the actual printing of the model. The time required to produce most 3D printers, while dependent on the number of layers to be printed, typically ranges from hours to days. This limits the viability of mass manufacturing in certain areas unless several hundred 3D printers are purchased and operated simultaneously. Such factors are expected to hinder the growth of the market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
3D Systems Corp.: The company offers SLA 750 3D printer model, which is designed and used to create concept models, cosmetic prototypes, and complex parts with intricate geometries.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2023 for the following segments.
1. 3D Printer Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, Canada, China, Germany, UK - Size and Forecast
2. 3D Printing Metal Materials Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, China, Germany, UK, France - Size and Forecast
3. 3D Printing In Education Sector Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, UK, China, Canada, Germany - Size and Forecast
The healthcare sector is advancing rapidly with innovations like biomedical sector developments and personalized healthcare facilities. Technologies such as full color 3D printing and multi-material capabilities in medical 3D printing systems enable precise bioprinting of organs and tissues. Concerns over patent and copyright are addressed in the realm of droplet deposition technique and chemical endurance of materials. External wearable devices aid in managing chronic diseases in remote places, ensuring flawless service and desired results in surgical and medical centers. Computer-aided design and computer-aided manufacturing optimize orthopedic diseases treatments like osteoporosis, osteoarthritis, and osteopenia. Organ transplantation and organ donors benefit from advancements like laser beam melting in dental applications and stereolithography technology. As the World Health Organization in Health care sector monitors global health, initiatives combat tobacco consumption and sedentary lifestyles, promoting medical tourism and enhancing modern devices and equipment for better patient care.
Market Scope |
|
Report Coverage |
Details |
Page number |
182 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 23.31% |
Market growth 2024-2028 |
USD 5.73 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
18.59 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
Europe at 35% |
Key countries |
US, China, Germany, France, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
3D Systems Corp., Allevi Inc., Anatomics Pty Ltd., Dentsply Sirona Inc., Desktop Metal Inc., EOS GmbH, Formlabs Inc., General Electric Co., Groupe Gorge SA, INTAMSYS TECHNOLOGY CO. LTD., MATERIALISE NV, Mecuris GmbH, Organovo Holdings Inc., Proto Labs Inc., Rapid Shape GmbH, Renishaw Plc, Roland DG Corp., SLM Solutions Group AG, Stratasys Ltd., and Ultimaker BV |
Market dynamics |
Parent market analysis, Market forecasting growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Technology
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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