The Medical 3D Printing market was valued at US$1.868 billion in 2020 and is expected to grow at a CAGR of 20.17% over the forecast period to reach a total market size of US$6.762 billion by 2027.
3D printing is a method of creating solid objects in three-dimensional form, which is called additive manufacturing in the healthcare industry. Due to the manufacturers' embrace of 3D printing, medical devices created using this technology are becoming increasingly common. In order to provide essential concepts regarding the novel technology, the Food and Drug Administration (FDA) introduced the "Technical Considerations for Additive Manufactured Medical Devices". In that case, manufacturers intending to sell 3D devices in the US must familiarize themselves with the FDA's guidance and understand its concerns. Furthermore, 3D printers can be used to create medical devices that are individualized to meet individual needs, thus fulfilling an ever-increasing need for personalized healthcare. A 3D printer for manufacturing personalized drugs was introduced in April 2020 by the UK-based company FabRx. The M3DIMAKER is a printer that uses extrusion technology, allowing the print nozzle to be tailored to a variety of dosage requirements. Moreover, compared to traditional reconstructive surgery, a minimally invasive approach can lower operative risks, minimize infection risks, and reduce anesthesia exposure duration. The medical 3D printing market will experience significant growth in the forecast period.
The market growth of the healthcare 3D printing market is also driven by advances in technology, which result in the enhanced application and growing scope of bioengineering products. For example, 3D models appear to assist surgeons in studying the impaired organs before they decide which approach to take and to gain hands-on experience, according to a study published in the Missouri Medicine Journal in February 2018. This process reduces the time it takes to perform the operation, which ultimately benefits patients, surgeons, and other providers of care for the patient.
Public-private funding for 3D printing initiatives has significantly increased in recent years. Three-dimensional printing in healthcare is most useful for dental laboratories and hearing aid manufacturers. In current innovations and technological advancements, 3D-printed hearing aids are becoming more common, and this is projected to positively influence the market over the coming years. With Desktop Health, Desktop Metal will develop 3D-printed healthcare products with a clinical focus. The company will launch its clinically-focused subsidiary in March 2021. Furthermore, with Desktop Metal's acquisition of EnvisionTEC for $300 million, it gained access to a growing market for 3D printed dental materials, jewelry, and biotechnology. Med-Tech Innovation Expo 2021 will see the debut of 4Degra, 4D Biomaterials' new class of 3D printing resins for medical implants. Furthermore, Nexa3D, the start-up that makes ultrafast polymer 3D printers, Henkel, and French start-up WeMed came together to create the world's first additively manufactured, connected stethoscope. Ottawa has become the first hospital in Canada to launch a medical 3D printing system integrating surgical planning, education, and research. Moreover, health tech projects received £32 million investment from the UK government. An infra-red laser and artificial intelligence (AI) combination will be employed by a company called InlightenUs to generate high-resolution, 3D medical images. The company is led by the University of Edinburgh. Such developments will be beneficial to the medical 3D printing industry.
The financial constraints may make setting up 3D printing facilities unattainable for small and medium businesses. In order to avoid the financial burden, many dental and orthopedic clinics may choose to outsource production. In addition, the lack of a skilled workforce is easily the biggest barrier to the adoption of additive manufacturing and 3D printing. The medical device market for 3D printing is rapidly evolving in terms of technology and materials, creating a shortage of knowledgeable staff for 3D printing processes. An insufficient workforce with a complete understanding of design processes and production cycles may affect the final product quality.
A major global health epidemic has led to a variety of health systems being overburdened. Several medical devices and personal protective equipment were in short supply due to the high number of patients and the supply chain disruption. Guilherme Arthur Longhitano et al. reported in Progress in Additive Manufacturing Journal November 2020 that the additive manufacturing community emerged during the COVID-19 pandemic to combat the lack of medical devices. In hospitals, patients and health workers are currently making use of a variety of designs. Also, 3D-printed devices have been growing in popularity, such as face shields, face masks, valves, and swabs, showing positive impacts on the market. In this respect, additive manufacturing is a rather recent technology that is increasingly used in medical applications, so we may expect similar applications to continue to aid mankind against pandemics in the future. According to the World Health Organization (WHO) 2020, one in every six COVID-19 patients has breathing difficulties. . Professor Kim Woo Soo led a team of researchers at Simon Fraser University in Canada that created a ventilation system with 3D-printed components to combat COVID-19. A portable mechanical ventilator contracts an origami tube 3D-printed by the device to assist breathing.
|Market size value in 2020||US$1.868 billion|
|Market size value in 2027||US$6.762 billion|
|Growth Rate||CAGR of 20.17% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Type, Offering, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Stratasys Ltd., Envisiontec GmbH, 3D Systems Corporation, EOS Group, Materialise NV, General Electric (Owns 2 Companies, Acram AB and Concept Laser GmbH), SLM Solutions Group AG, Biomedical Modeling, Inc, ORGANOVO HOLDINGS INC., Carbon, Inc.|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the medical 3D printing market size by 2027?
A1. The global medical 3D printing market is expected to reach a market size of US$6.762 billion by 2027.
Q2. What is the size of the global medical 3D printing market?
A2. Medical 3D Printing Market was valued at US$1.868 billion in 2020.
Q3. What are the growth prospects for the medical 3D printing market?
A3. The medical 3D printing market is expected to grow at a CAGR of 20.17% over the forecast period.
Q4. How is the global medical 3D printing market segmented?
A4. The global medical 3D printing market has been segmented by type, offering, and geography.
Q5. What factors are anticipated to drive the medical 3D printing market growth?
A5. In current innovations and technological advancements, 3D-printed hearing aids are becoming more common, and this is projected to positively influence the medical 3D printing market over.
3D Systems Corporation
General Electric (Owns 2 Companies, Acram AB and Concept Laser GmbH)
SLM Solutions Group AG
Biomedical Modeling, Inc
ORGANOVO HOLDINGS INC.
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