3D printing has begun to flourish in various application areas in healthcare such as dental, medical, implants, drug manufacturing and so on. The materials used for these purposes vary accordingly. While dental implants mostly use metals and ceramics to print dental crowns, the medical industry has its own array of bio-materials. As per IndustryARC analysis, the 3DP materials in healthcare market has revenue of $284.7 million as of 2014, and isestimated to grow at a CAGR of 19.1% over the next 6 years.
Reduction in prices of printers in healthcare 3D printing is estimated due to the growing demand and possible subsidies from governments as part of research grants as well. The commonly used materials for 3D printing of healthcare are plastics, metals, ceramics, donor cells, bone cement, biomaterials etc. Metal powders and biomaterials are expensive, wherein biomaterials are under research stage and are expected to be a prominent material for the 3D printing in healthcare industry. The global 3D printing in healthcare market recorded revenue of $487m in 2014 and isestimated to grow at a CAGR of 18.3% till 2020. The high growth rate in this market is due to increasing adaptation of 3D printing technologies into healthcare. This increasing adoption is due to wide spectrum of 3D printing applications in healthcare. The market is set to be driven by the increasing demand for patient-specific tailored products in orthopedics and maxillofacial surgery. Advances in tissue engineering for 3D bio-printing is gaining importance and the tissues generated by bio-printing will be available for transplant in the near future. However, high costs and regulatory barriers are likely to hinder the market growth.
North America is the leading consumer of 3D printing in healthcare industry, followed by Europe. Asia-Pacific’s (APAC’s) market is relatively small as compared to Americas region; however it is growing at a higher rate compared to Americas. With respect to the global market, the US itself holds 39.7% of the entire 3D printing in healthcare market share with existing major players like 3D Systems and Stratasys along with the new entrants and their investments to acquire the growing market. Europe is the second major market followed by APAC, togetheraccounting for around 37% of the global 3D printing in healthcare market of 2014. Other factors affecting the growth of the market include technology innovation, efficiency and flexibility of printers and availability of good quality materials.
In this report, the market has been segmented by geography as America, Europe, Asia, and Rest of the World (RoW). Market size and forecast is provided for each of these regions. A detailed qualitative analysis of the factors responsible for driving and restraining growth of the 3DP materials, printers, software and scanners market and future opportunities are provided in the report.
Key players covered in the market landscape analysis section are:
- MicroFab Technologies
- Tevido BioDevices.