The healthcare 3D printing market is projected to showcase exponential growth by 2027 due to the ever-increasing worldwide demand for healthcare supplies and equipment, and technological advancements in 3D printing. Additionally, following the COVID-19 outbreak, the scope of application of 3D printing in healthcare applications has expanded immensely, which is anticipated to boost industry outlook through the forecast period.
In the healthcare sector, 3D printing or additive manufacturing is being used in regenerative medicine and tissue engineering to make living human cells or tissue. 3D printing has also found vast applications in the manufacturing of personalized and precision medicine. Currently, the first and only 3D printed drug that has received FDA approval is Aprecia Pharmaceuticals’ medication for epilepsy named ???Spritam??? (levetiracetam).
In April 2020, Aprecia Pharmaceuticals announced a partnership with the Purdue University College of Pharmacy for the technological advancement of 3D pharmaceutical printing. The collaboration was intended to focus on the development of future 3D printed pharmaceutical medications and equipment.
The COVID-19 outbreak had put a massive strain on the global healthcare infrastructure with the unprecedented demand for critical medical equipment and supplies. Manufacturers around the world responded to the crisis by undertaking the production of crucial medical equipment for hospitals, which has positively impacted market dynamics. To cite an instance, Carbon, Renishaw, and 3D Systems have recently partnered to work on designing and manufacturing open-source PPE for healthcare workers across the globe.
Moreover, industry players are capitalizing on emerging trends in the healthcare 3D printing space with product innovation, which has been favorable for the global market landscape. For instance, in May 2021, Stratasys Ltd, a manufacturer of 3D printers, introduced a medical 3D printer that combines multiple applications in a single system. Dubbed the ???J5 MediJet???, the 3D printer allows users to build highly detailed 3D anatomical models.
The healthcare 3D printing market has been segmented on the basis of product, technology, application, and region. In terms of product, the market has further been segregated into laser based, syringe based, magnetic levitation, and inkjet based. The inkjet based sub-segment was valued at USD 514.1 million in 2020 and is expected to grow at a notable pace over 2021-2027.
Based on technology, the healthcare 3D printing market has been categorized into fused deposition modelling (FDM), stereolithography, selective laser sintering (SLS), and others. In 2020, the fused deposition modelling (FDM) sub-segment accounted for around 42.5% share in the healthcare 3D printing market revenue and is estimated to progress at a substantial pace through the forecast timeline.
From the application perspective, the market has been divided into medical, biosensors, and dental. The healthcare 3D printing market from the medical application segment is expected to be valued at about USD 3.5 billion by 2027, registering a robust CAGR over the assessment period.
In the regional landscape, Latin America held nearly 6.8% share in the overall market revenue in 2020 and is projected to witness considerable growth over the estimated timeframe. The MEA healthcare 3D printing market is anticipated to exhibit steady growth at a CAGR of 21.6% through the analysis period.