Developing products for the health care market using 3D printing / additive manufacturing is one of the better employment opportunities from now through 2020. A new report published by Allied Market Research, titled, “World 3D Printing Healthcare Market—Opportunities and Forecasts, 2014–2020,” projects that the world 3D printing healthcare market is forecast to grow at a CAGR of 26.2% from 2015 to 2020. External wearable devices application is set to boost the 3D printing healthcare market to $2.3 billion market by 2020. In addition, medical and surgical centers are major end users of the 3D printing technology, constituting around three-fourths share of the total 3D printing healthcare market.
The key factors behind this forecast growth are:
–3D printers ability to work in multiple materials, often simultaneously,
–print in color,
–be portable or powered by non traditional sources of energy, like solar power
–deliver custom and personalized medical devices
–the growing availability of biocompatible materials
–an increasing geriatric population, along with the rising incidence of osteoporosis, growing number of amputees, and spiraling number of patients with auditory loss & dental problems
–Hospital management also expects that the use of this technology will reduce the duration of surgery, anesthesia exposure and operative risks, aid in the effective pre-surgery planning, and improve surgeon’s practice, thereby promoting faster healing.
— 3D printed organs have also delivered an alternative to animal testing, thereby assisting the market growth by shortening the time span for clinical trials and reducing cost and inherent risks associated with testing of new drugs.
Factors potentially delaying or negatively affecting the growth of 3D printing in medical include:
–Cost of advanced 3D printers,
–lack of both structured regulatory frameworks and reimbursement policies,
–copyright and patent issues associated with 3D printing of patented products are expected to impede the market growth.
–The external wearable devices application is expected to continue to lead the 3D printing healthcare market during the forecast period, owing to increasing count of amputees, patients with auditory loss, dental problems, and increasing availability of biocompatible materials.
–the materials segment is expected to grow rapidly in North America and Europe, due to the established systems market. Polymers are the most preferred materials for 3D printing, as they account for about half of the market revenue in the materials market; whereas, the ceramics segment is projected as the fastest growing segment with a CAGR of 32.1% during the forecast period.
–The electron beam melting technology segment is projected to grow at the highest CAGR of 29.6% from 2015 to 2020.
–The tissue engineering application segment could emerge as the fastest growing segment, registering a CAGR of 31.7% during the forecast period.
The report also notes that the 3D printing healthcare market is largely consolidated, with the majority market share governed by two leading players, 3D Systems Corporations and Stratasys Ltd.
The major companies profiled in this report include 3D Systems Corp., Stratasys Ltd., SLM Solutions Group AG, EnvisionTEC, Arcam AB, Organovo Holdings, Inc., Oxford Performance Materials, Inc., Materialise NV, Bio3D Technologies, and Cyfuse Medical K.K.
Leslie Langnau
llangnau@wtwhmedia.com
