Technological advancements in 3D printing, customization & personalization, surge in R&D investments, and rise in biomedical applications drive the growth of the global 3D printing in healthcare market. However, high cost, increase in reimbursement challenges, and lack of skilled workforce hinder the market growth. On the other hand, increase in pharmaceutical applications and presence of bioprinting tissues & organs present new opportunities in the coming years.
Leading players of the global 3D printing in healthcare market analyzed in the research include 3D Systems Corporation, Formlabs Inc., Exone Company, Materialise NV, General Electric, Organovo Holdings, Inc., Oxferd Performance Materials, Inc., SLM Solutions Group AG, Proto Labs, and Stratasys Ltd.
- Owing to shortage of equipment needed to increase number of patients suffering from Covid-19 infection, the demand for 3D printing in the healthcare sector increased during the pandemic.
- However, manufacturers faced challenges in terms of manufacturing and supply chain due to lockdown measures and unavailability of workers. Investors postponed the plans of investments in new projects.
- Non-elective surgeries were postponed, which in turn, led to reduced demand for 3D printing equipment in the healthcare sector.
Based on component, the system segment contributed to the highest share in 2020, holding more than half of the total share, and is expected to maintain its lead position during the forecast period. However, the materials segment is estimated to manifest the highest CAGR of 21.2% from 2021 to 2030.