Growing demand for organ transplantation and emergence of digital healthcare is expected to drive market growth over the next six years
San Francisco, California (PRWEB) September 16, 2014
The global market for healthcare 3D printing is expected to reach USD 1,129.8 million by 2020, growing at an estimated CAGR of 15.6% from 2014 to 2020, according to a new study by Grand View Research, Inc. A growing need to produce automated products and the increasing number of cost curbing initiatives undertaken by medical device manufacturers are expected to drive market growth during the forecast period. In addition, this technology serves as an effective tool in rendering simulations and clarity to healthcare practitioners while performing or preparing for complicated medical procedures.
Implants dominated the overall market in 2013, accounting for over 60.0% of global revenue, primarily owing to high procedure volumes. Growing demand for this technology as a cost effective and accurate tool is expected to drive segment growth during the forecast period.
The report “Healthcare 3D Printing Market Analysis By Application (Surgical Guides, Implants, Surgical Instruments, Bioengineering), By Technology (Electron Beam Melting, Stereolithography, Droplet Deposition Manufacturing), By Raw Material (Metals, Biological Cells, Polymers, Ceramics) And Segment Forecast to 2020,” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/healthcare-3d-printing-market
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Further key findings from the study suggest:
- Polymers dominated the raw materials market in terms of shares at over 35% in 2013 owing to their high usage rates in printing bio-models. The market for ceramics is expected to grow at a lucrative CAGR of 15.6% during the forecast period as it is widely used to manufacture the tooth or the mandible (jaw bone). Both these raw materials have been included in the U.S. FDA’s list of approved materials to be used for manufacturing implants that will be in contact with the body for long duration of time.
- Photo-polymerization dominated the overall technology market and was valued at over USD 140 million in 2013. This technology is used widely by research organizations and companies to manufacture efficient and accurate bio-models.
- Laser beam melting is expected to be the fastest growing technology, at an estimated CAGR of over 16% from 2014 to 2020 on account of its growing demand in manufacturing orthopedic implants and hip stems
- North America was the largest regional market in 2013, accounting for over 35% of global revenue owing to the presence of high patient awareness levels, increasing healthcare expenditure, sophisticated healthcare infrastructure and increasing investment in R&D facilities pertaining to the development of 3D technologies based products
- Europe is expected to be the fastest growing regional market over the forecast period. Presence of a large number of R&D funding programs and increasing demand for customized medical devices in this region is expected to drive market growth over the next six years
- Key participants of this market include Envision TEC, Stratasys Inc., Materialise NV, 3D Systems Software, Bio-Rad Laboratories, Organovo, SOLS, Simbionix, Metamason, RegenHU Ltd., Youbionic, Bio3D Technologies Pte Ltd, 3D Matters Pte Ltd., 3D Systems Corporation (3DS), Ekso Bionics, Roche Pharmaceuticals, Renishaw plc., Robohand, Delcam India, Worrell, mobileOCT, Archam, Rainbow Biosciences, ALD Vacuum Technologies, and 3T RPD Ltd.
Browse All reports of This Category by Grand View Research at http://www.grandviewresearch.com/industry/medical-devices
For the purpose of this study, Grand View Research has segmented the healthcare 3D printing market on the basis of application, technology, raw material and region:
- Healthcare 3D Printing Application Outlook
• Surgical Guides
• Orthopedic Surgical Guides
• Crani-maxillofacial Surgical Guides
• Dental Surgical Guides
• Orthopedic Implants
• Crani-maxillofacial Implants
• Dental Implants
• Surgical Instruments
- Healthcare 3D Printing Technology Outlook
• Electron Beam Melting
• Laser Beam Melting
• Digital light processing (DLP)
• Two-Photon Polymerization (TPP)
• Droplet Deposition
• Inkjet Printing (IJP)
• Fused Deposition Modeling (FDM)
• Multiphase Jet Solidification (MJS)
- Healthcare 3D Printing Raw Material Outlook
• Metals Market
• Biological Cells
- Healthcare 3D Printing Regional Outlook
• North America
• Asia Pacific
Browse All Ongoing Reports by Grand View Research at http://www.grandviewresearch.com/ongoing-reports
About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com/
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