3D printing, also referred to as additive manufacturing, uses a layer-by-layer addition process from a three-dimensional digital file to manufacture physically customized medical equipment and other goods. To build a computer-aided design (CAD) kit, a 3D printer, digital camera, 3D modeling software, and 3D scanners are used. It is possible to change and alter the 3D model generated by using CAD by allowing it to be tested before the object is printed.
By reducing the operational risks involved during complex operations, decreasing vulnerability to infections, and reducing the length of anesthesia exposure, 3D healthcare printing offers many benefits over conventional reconstructive surgeries. It can help ensure faster healing and thus, decrease the hospital stay period. Such benefits are going to propel the global 3D healthcare printing market.
3D printing technology also makes it easier for surgeons to increase the success rate of complex procedures. In addition, as an alternative to animal testing, this technology has revolutionized preclinical drug testing by allowing testing on 3D printed organs. The recent success of 3D tablet printing has opened new doors in the pharmaceutical industry for the use of 3D printing technology.
In the healthcare sector, 3D printing technology has witnessed fast acceptance. This is due to the advancement in the 3D printing industry, such as the introduction of compact and energy-efficient 3D printers. The use of this technology to predict mechanical and tensile strength will enhance its applicability in novel healthcare applications, in addition to providing versatility to 3D-printed items. Product innovation and the emergence of 3D printing applications in healthcare are the key factors in driving the growth of the 3D healthcare printing market.
Increased demand for customization of implants during surgical procedures, coupled with rising R&D investments, will drive the growth of the market for healthcare 3D printing. According to data from the National Center for Biotechnology Information (NCBI) for 2014, nearly USD 1.9 billion is expected to be spent on 3D printing medical applications over the next ten years. Such rising investments would fuel the growth of the 3D healthcare printing market.
Technological developments in 3D printing for healthcare and the application of advanced bio-printing and tissue engineering devices can lead to business development. Many companies are concentrating on developing new 3D-printed products and innovations to meet the increasing demand for 3D printing in the healthcare industry. The conventional manufacturing processes are time consuming and costly, and this is the reason why major corporations are interested in producing novel, inexpensive, and less time-consuming goods and technologies.
Increasing clinical use of 3D printing in pharmacology, such as poly pills, is expected to fuel market growth of healthcare 3D printing. Poly pills are used for the treatment of multiple diseases. Medical 3D printing applications are increasing dramatically, such as in drug delivery systems and emerging applications for dosage forms. Medical 3D printing is used in producing cell cultures, bones, blood vessels, jaw bone, tissues, ears, stem cells, eyeglasses, organs, and vascular networks. Such extensive applications will increase the revenue size of the 3D healthcare printing market in the coming days.
Global 3D Healthcare Printing Market, By Components
The software segment is currently leading the healthcare 3D printing industry, accounting for more than half of the global healthcare 3D printing market in 2018. The main reasons behind the impressive growth of this segment are the increasing rate of acceptance of 3D products, technical developments related to 3D printing systems & software, rising investment in R&D activities for 3D printing materials & systems, rapid growth in customer base, and an increase in biomedical applications. However, due to increased adoption of 3D systems and a rise in the use of 3D printing technology, the materials segment is projected to emerge as the largest segment.
Global 3D Healthcare Printing Market, By Application
In 2017, the medical applications segment held a market share of 48.4 percent. Segmental development would be stimulated by wide-ranging medical applications and the availability of 3D printed medical devices such as external prostheses, instrumentation, and implants. Furthermore, research and development for the processing of living organs such as the heart and liver would provide immense potential for future growth.
Global 3D Healthcare Printing Market, By Geographical Regions
Geographically, the 3D printing medical devices market has been segmented into North America, Europe, the Asia Pacific, and the Rest of the World (RoW). In the 3D printing medical devices industry, the Asia Pacific is one of the major revenue-generating regions with high growth. The factors that are driving the growth of the Asia-Pacific 3D printing medical device market are the establishment of new 3D printing research, training, and education centers and the increasing efforts by the leading market players to expand their distribution networks in emerging Asian countries.
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