March 5, 2024
3D Printing in Healthcare Market

3D Printing In Healthcare Market Is Driven By Increasing Use Of Implants And Prosthetics

3D printing in healthcare enables customized and precise manufacturing of medical products and organs through digital modeling. It allows complex shapes to be created layer by layer with various materials like polymers, metals and ceramics. This technology aids in producing biocompatible medical implants, prosthetics and organ models. Implants and prosthetic devices created through 3D printing can precisely fit individual patient’s anatomy for optimal treatment outcomes. 3D bio-printing further allows generation of tissue and organ constructs using biological materials like hydrogels, proteins and living cells. Successful bio-printings of cartilage, bone and liver tissues have provided hope for organ transplant solutions. The global 3D Printing in Healthcare Market is estimated to be valued at US$ 2.21 Bn in 2024 and is expected to exhibit a CAGR of 6.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key Trends:

Advancements in 3D bioprinting and use of biomaterials is a major trend in the 3D printing healthcare market. Researchers are developing methods to 3D print living tissues and organs using biological cells, scaffolds and growth factors. Biomaterials like hydrogels closely mimic natural extracellular matrices and allow cell infiltration, proliferation and organisation. Significant strides have been made in bioprinting of cartilage, bone, skin and vasculature. Development of large-scale bioprinters capable of generating complex 3D living constructs will enable generation of transplantable organs in future. Combining 3D printing with gene therapy and stem cells offers potential for in-situ tissue regeneration. Such advancements promise to revolutionize treatment of chronic diseases and management of various clinical conditions.

Porter’s Analysis

Threat of new entrants: The healthcare 3D printing market requires significant investment in technology and infrastructure to build prototypes and final products. Therefore, the threat of new entrants is low.

Bargaining power of buyers: Individual consumers have little bargaining power due to lack of information asymmetry. However, large hospitals and healthcare providers can negotiate discounts based on volume.

Bargaining power of suppliers: A few key material manufacturers like specialized filaments dominate the supply market. Supplier power is high due to proprietary material technologies and intellectual properties.

Threat of new substitutes: No direct substitutes currently exist for customized medical devices produced using 3D printing technologies. Threat is relatively low.

Competitive rivalry: The market currently sees intense competition among major players focusing on new product innovations to gain market share.

Key Takeaways

The global 3D Printing In Healthcare Market Share is expected to witness high growth.

Regional analysis:

North America currently dominates the market due to increasing demand for customized medical devices and implants from the region’s large patient pool. However, Asia Pacific is expected to be the fastest growing market due to rising medical tourism and investments in healthcare infrastructure.

Key players:

Key players operating in the healthcare 3D printing market are Stallergenes Greer PLC, Sanofi SA, Novartis International AG, Dermapharm Holding SE, Leti Pharma, Johnson & Johnson, GlaxoSmithKline PLC, Nicox SA, F. Hoffmann-La Roche Ltd., Allergy Therapeutics PLC, AbbVie Inc. (Allergan), Bausch Health Companies Inc., Teva Pharmaceutical Industries, ALK-Abello AS, and Alembic Pharmaceuticals Limited, among others. The players are focusing on new product launches and partnerships with hospitals to strengthen their foothold in the market.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it