3D Printing in Healthcare Market Size & Share, Growth Outlook 2023-2030
Fairfield Market Research, a leading market research and consulting firm, has released a comprehensive report on the global 3D printing in healthcare market. The report highlights the market's potential for significant growth, projecting a compound annual growth rate (CAGR) of 19.8% during the assessment period from 2023 to 2030. By the end of 2030, the market is expected to reach a value of approximately US$14 billion.
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3D printing, also referred to as additive manufacturing, is a process that enables the creation of three-dimensional solid objects from digital files. This technology, driven by magnetic resonance imaging (MRI) and computer-aided design (CAD), allows for the production of complex shapes using fewer materials compared to traditional manufacturing methods. With its ability to cater to various end-use industries such as healthcare, automotive, aerospace, and defense, 3D printing is witnessing steady adoption.
The global 3D printing in healthcare market registered revenue worth US$3 billion in 2021, demonstrating robust growth. Fairfield Market Research identifies several factors contributing to the market's expansion:
Healthcare Revolution: Public-private investments, personalized medicine, patient benefits, chronic disorder prevalence, the aging population, and advancements in 3D printing are driving the growth of the healthcare industry. This is expected to have a profound impact on the adoption of 3D printing in healthcare.
Higher Adoption in Dentistry: Increased disposable income and improved insurance policies have made dental procedures more affordable. Social media has also influenced individuals to prioritize their physical appearances, leading to a surge in dental treatments. These factors contribute to the growth of 3D printing in the healthcare market.
The Asia Pacific region is expected to spearhead the global market, driven by its significant geriatric population, rising disposable income, and demand for advanced healthcare. During the forecast period, the Asia Pacific market is projected to grow at a higher rate of approximately 21%. North America presents a lucrative market opportunity, supported by a strong industry presence and an estimated value surpassing US$5 billion by 2030. Key competitors include the United States, the European Union, Japan, and Korea.
The global 3D printing in healthcare market features several leading players, such as 3D Systems Corporation, Stratasys Ltd, EOS GmbH, TeVido Biodevices, Precision ADM, Might Oak Medical, Allevi (BioBots), Exone Company, General Electric, Formlabs Inc., Materialise N.V., Organovo Holdings Inc., Oxford Performance Materials Inc., CELLINK, Proto Labs, SLM Solutions Group AG, Rokit, and Cellbricks.
Read More: https://www.globenewswire.com/newsrelease/2023/07/12/2703631/0/en/Global-Market-for-3D-Printing-in-Healthcare-WillCross-US-14-Bn-by-2030-Says-Fairfield-Market-Research-in-a-New-Report.html