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Global 3D Printing in Healthcare Market to Reach USD 3370.9 million by 2027, Aided by the Rising Investments in Medical Sector

According to a new report by EMR titled, ‘Global 3D Printing in Healthcare Market Report and Forecast 2022-2027’, the global 3D printing in healthcare market reached a value of USD 1120.5 million in 2021. The industry is expected to grow at a CAGR of 20.15% in the forecast period of 2022-2027 to attain USD 3370.9 million by 2027.

The expansion of 3D printing in the healthcare industry is expected to be fuelled by the growing healthcare expenditure. This is due to the increased demand for 3D printing technologies in the medical field. Due to the severe organ shortage, 3D printing is used in regenerative medicine treatments. In this case, 3D printing creates tissues using a combination of biomaterials and cells. Increasing investment in the research and development of 3D printing technology to improve the potential of generating fully functional organs is expected to boost market growth. Furthermore, in the production of open-source PPE for healthcare professionals, 3D printing also found increased usage in 2020, amid the COVID-19 outbreak. These factors are predicted to bolster market growth in the coming years. An increase in biomedical applications, the rapid expansion of customer base, rise in pharmaceutical applications and availability of bioprinting tissues and organs are opportunistic for the market growth during the forecast period. The rising prevalence of chronic illnesses and the fast-growing geriatric population are driving the industry growth forward. Also, the market is expected to benefit from the rising adoption of digital solutions across industry verticals.

Collaborations between academic institutions, hospitals, and companies have supplemented the growth of the market. Various companies are adopting organic and inorganic strategies to foster their market presence and gain a competitive advantage in the market. For instance, in August 2020, Siemens Healthineers (OTCMKTS: SMMNY) acquired Varian Medical Technologies, Inc. in a deal valued at nearly USD 16.4 billion. This acquisition was targeted at integrating the 3D printing assets of individual companies while strengthening the overall market presence of the company.

Market Analysis by Technologies, Materials, Types, and Regions:

  • The various technologies involved in the market are electron beam melting, photopolymerisation, droplet deposition, and laminated object manufacturing, among others.
  • On the basis of material, the industry can be segmented into plastic, ceramic, and metal, among others.
  • The various types include prosthetics, implant, hearing aid, and surgical guides, among others.
  • The regional markets for 3D printing in healthcare include North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

Key Findings of the Report:

  • Technological advancements in 3D printing, customisation, and personalisation are expected to propel the market growth.
  • The presence of a large patient pool is further expected to boost the market growth globally.
  • Extensive research and development activities for the advancement in 3D printers at the academic and industrial level have fuelled the market growth.
  • Heavy investments for research and development activities are further anticipated to boost the market growth.

Key Offerings of the report:

  • The EMR report gives an overview of the global 3D printing in healthcare market for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecasted (2022-2027) markets for technologies, materials, types, and major regions of 3D printing in healthcare.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global 3D printing in healthcare industry are 3D Systems, Inc., The ExOne Company, Formlabs Inc., General Electric Company, and Materialise NV, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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