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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.
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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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