Market research firm Research and Markets has analyzed the international 3D printing in healthcare market in the report “3D Printing in Healthcare Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”.
The global 3D printing in healthcare market size reached US$ 2.08 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 5.59 Billion by 2027, exhibiting a CAGR of 17.91% during 2021-2027.
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Three-dimensional (3D) printing is employed in the healthcare sector to develop new surgical cutting, drill guides and prosthetics and create patient-specific replicas of bones, organs and blood vessels. It is used to make living human cells or tissue in regenerative medicine and tissue engineering. It assists in the customization and personalization of medical products, drugs and equipment.
It also aids in reducing the operative risks involved during complex procedures, minimizes susceptibility to infections, and decreases the duration of anesthesia exposure. Besides this, it helps save time, reduces costs, and ensures faster and effective delivery of medical services. As a result, 3D printing is gaining immense traction in the healthcare industry across the globe.
3D Printing in Healthcare Market Trends
The growing global geriatric population and the rising prevalence of chronic medical disorders, such as cancer and respiratory and cardiovascular disorders (CVDs), represent one of the key factors positively influencing the market.
This, along with the rising requirement for regenerative medicines, stem cell solutions, and cancer therapeutics, is creating a positive market outlook. 3D printing finds extensive applications in liver modeling and the development of tissue, bone, and medical implants.
In line with this, a significant rise in pharmaceutical applications and the availability of bioprinting tissues and organs are offering a favorable market outlook. Moreover, the rising focus of manufacturers on marketing strategies and promotional campaigns is contributing to the market growth.
Furthermore, technological advancements in 3D printing, customization, and personalization are strengthening the growth of the market. Additionally, increasing investments by leading market players in research and development (R&D) activities for the advancement of 3D printers are anticipated to propel the market growth.
The competitive landscape of the industry has also been examined along with the profiles of the key players being 3D Systems Inc., Desktop Metal Inc., EOS GmbH, Formlabs, Materialise NV, Organovo Holding Inc., Oxford Performance Materials Inc., Prodways Tech, Proto Labs Inc., Renishaw plc, SLM Solutions Group AG and Stratasys Ltd.
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