3D Printing in Healthcare Market Size, Share & Growth [2031]

Report Description

The global 3D printing in healthcare market size was around 1.67 Billion in 2022 and is expected to reach 6.63 Billion by 2031, expanding at a CAGR of 16.55% during the forecast period, 2023 to 2031. The market growth is attributed to the increasing demand for patient-specific implant solutions and technological advancements in 3D printing equipment.

Three-dimensional or 3D printing, also known as additive manufacturing, is an advanced device that creates a three-dimensional object using computer design methods. Making of a 3D-printed object is achieved by using an additive process that typically follows forming successive layers of raw materials such as metals, plastics, and ceramics, to make the intended end product. In the healthcare market, this advanced manufacturing technology is capturing wide attention due to its potential to enhance treatment for certain medical conditions. The global healthcare market has tremendous opportunities to progress with 3D printing technology.

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3D printing is enabling healthcare providers to develop innovative and complex patient care products and treatments. Modern 3D printers are used to develop innovative surgical and drill equipment, prosthetics, and also a series of customized replicas of bones, organs, and blood vessels based on the patient’s specific requirements. Moreover, the recent advancements in 3D printing technology are enabling healthcare providers to manufacture lighter, stronger, and harmless 3D printed surgical models within reduced lead times and optimized costs. With 3D printing, it is now possible for healthcare providers to ensure the utmost comfort of the patients by making products that are designed to exactly match the patient’s anatomy.

COVID-19 Impact on 3D Printing In Healthcare Market

The COVID-19 pandemic caused a negative impact on the global 3D printing in healthcare market. The market revenue reduced significantly during the pandemic. The COVID-19 pandemic resulted in severe stress for the whole worldwide healthcare system over the last two years. Due to the increased number of COVID-19 patients, delivering effective treatment for every patient had become a major challenge for healthcare institutions. The major part of the global healthcare system was focused on curing COVID-19-infected patients due to which non-elective surgeries got lesser priority. The players in the market also faced extensive difficulties as the manufacturing and supply processes were halted owing to repeated lockdowns around the world.

On the other hand, patients who suffered from COVID-19 infection were found to have acute respiratory distress syndrome (ARDS). The survival of patients was largely dependent on high-level respiratory support. Global 3D printing in healthcare market came to the rescue by efficiently providing the needed products on time, which helped the market growth.

3D Printing In Healthcare Market Dynamics

The research report presents a complete overview by providing detailed information about the current market trends, existing drivers, growth opportunities and potentials, and emerging challenges. The global 3D printing in healthcare market report has up-to-date insights about market dynamics and market scenarios that can shape the overall market performance and output during the forecast period, 2023 to 2031.

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Major Trends:

Growing applications in the pharmaceutical industry

The advancements in healthcare technology are helping the global pharmaceutical industry to move ahead at a rapid pace. The increasing application of 3D printing technology in the pharmaceutical sector presents a significant growth opportunity for healthcare companies. The major advantage of 3D printing technology for companies in the pharmaceutical sector is the production of small batches of medicines, each with customized dosage, size, shape, and characteristics. 3D printing technology is widely used for making personalized medicines, which presents another key growth opportunity for market players.

Key Drivers:

Rising clinical application and rapid commercialization of the 3D printing technology

In recent years, the usage of 3D printing in healthcare has seen rapid growth. Today, 3D printing can be utilized in several segments of healthcare services and solutions. For instance, it is majorly utilized for the production of different body implants such as bones, jawbones, tissues, cells, blood vessels, organs, exoskeletons, and stem cells. Along with it, 3D printing is also widely utilized for manufacturing advanced customized medical devices such as hearing aids, eyeglasses, surgery equipment, and drug delivery devices. Globally, several biotech firms are also putting their efforts to produce tissues and organs for medical research purposes.

Increasing client base & growing geriatric population

The worldwide geriatric population is ever-rising and the increasing number of old-age patients indicates that the number of patients with serious health conditions is likely to accelerate during the forecast period, which is one of the major driving factors for the market. Among these old-age population groups, the chances for occurrences of orthopedic, cardiovascular, and other serious health conditions are high. Such incidents are further increasing the clients’ demand for patient-specific tailored 3D-printed healthcare products in the market. The 3D printed products are eliminating quality issues and improving accuracy to facilitate maximum risk-free and smooth treatment to patients. Additionally, transnational governments are also planning to boost their budgets to help the 3D printing technology’s growth in the health industry to ensure future growth.

Existing Restraints:

High cost of 3D procedures

The healthcare treatments and procedures that utilize 3D printing technology are associated with high costs. Some of the advanced procedures and treatments that use 3D printing are most affordable for the elite class people. These treatments, at a time, can even be left out of reach for middle-income and low-income populations due to high operation costs. Such a high price of 3D procedures is a major restraining factor that can hinder the global 3D printing in healthcare market.

Shortage of skilled professionals and technicians

3D printing in healthcare has a bright future but to accomplish it, the industry requires more skilled professionals in utilizing 3D printing technology. Currently, there is a considerable shortage of skilled professionals, which is limiting the overall market growth. The operation of 3D printing requires skilled professionals and technicians who can efficiently manage modern 3D printed devices and equipment.

Emerging Opportunities:

Technological advancements to provide patient-specific solutions

The anatomy of every individual is different. Based on the individual anatomy, the healthcare need of every patient vary, which creates unique lucrative opportunities for the market. The ongoing extensive research and development (R&D) trend among the key industry players to introduce innovative products and solutions is expected to help the global market growth further.

3D printing technology can efficiently serve the unique healthcare needs of every patient with several technological advancements. Taking efforts in this direction, the major players in the market are currently investing in R&D to gain a significant stronghold in key segments of the global market. Additionally, several R&D programs in the medical sector toward the development of bioprinting tissues and organs are likely to have a major positive impact on the market.

Scope of 3D Printing in Healthcare Market Report

The global 3D printing in healthcare market research report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.

3D Printing In Healthcare Market Segment Insights

Droplet deposition segment to expand rapidly

Based on technology, the global 3D printing in healthcare market is divided into photopolymerization, droplet deposition, laser beam melting, electronic beam melting, laminated object manufacturing, and others. The droplet deposition (DD) segment held a major share of the market in 2021 and is projected to expand rapidly during the forecast period. The DD technology is a liquid phase rapid prototyping method used for 3D printing for various desired objects. Moreover, the large-scale use of DD technology across healthcare applications and high temperature & chemical endurance presents another key factor driving the segment.

Moreover, the electron beam melting (EBM) segment is anticipated to account for a key market share in the coming years due to the wide adoption of EBM 3D printing technology in healthcare institutes. The EBM technology is used for melting down the powdered metal with the help of a high-energy beam of electrons. In the process, the stream of electrons is directed using the magnetic force to melt the powdered metal, forming layers upon layers until the desired physical object as specified in the CAD model is completed. The micro-finishing ability provided by the EBM technology enables the creation of an exact and distortion-free product.

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System segment to register a substantial CAGR

On the basis of components, the global market is segmented into material, service, and system. The system segment constituted a major share of the market in 2021 and is projected to register a substantial CAGR during the forecast period. The rising demand in the healthcare industry is aiding the system segment to gain a significant hold of the market.

Additionally, the material segment has vast potential and is likely to gain a significant share of the market during the forecast period owing to the rapid growth of the production of portable 3D-printed healthcare devices.

External Wearable Devices segment to continue holding a large market share

Based on application, the global 3D printing in healthcare market is categorized into implant, tissue engineering, external wearable device, and clinical study device. The external wearable devices (EWD) segment is projected to continue holding a large market share during the assessment period owing to the rising adoption of EWD in dental clinics & hospitals. Additionally, the increased presence of the patient pool and the favorable government regulations on 3D printers in healthcare are expected to expand the segment growth during the forecast period.

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Medical & surgical center segment to exhibit significant growth

Based on end-user, the global 3D printing in healthcare market is categorized into pharmaceutical & biotechnology company, medical & surgical center, and academic institution. The medical & surgical center segment held a large market share in 2021 and is projected to dominate the market during the projected period due to the increased investment in the improvement of 3D printing technologies by government and private organizations in surgical and medical centers.

North America to dominate the market

In terms of regions, the global market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America dominated the market in 2021 and the trend is likely to continue during the forecast period owing to the widespread adoption of 3D printing technology in the healthcare sector based in the region. Furthermore, the region has numerous collaborations between academic institutes and 3D commercial printing organizations to boost the innovation and development of 3D technology, which is further contributing to the regional market growth. The region has major global players and many of these players are actively spending on technological innovations, high funding for advancements in printers and necessary materials, and upsurge in the patient pool.

Asia Pacific is one of the fastest-growing regions and the regional market is projected to grow considerably in the coming years owing to the wide establishment of healthcare products, treatment, and service offerings using 3D printing technology. The regional market growth is further attributed to the increasing applications of 3D printing in the medical and pharmacology industry based in Asia Pacific. Additionally, the rising expansion of the healthcare 3D printing market in the region is likely to boost the regional market.

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