Market Size of Healthcare 3D Printing Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 17.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Healthcare 3D Printing Market Analysis
The healthcare 3D printing market is expected to register a CAGR of 17.5% during the forecast period.
The outbreak of the COVID-19 pandemic has significantly impacted the overall global economy and, subsequently, the 3D printing industry. Due to the rapid spread of the virus, the governments issued an order for the complete lockdown of some key cities. The lockdowns affected the production of 3D printing manufacturers, attributed to the labor shortage and the complete disruption of logistics and supply chains in the nation. According to a Springer Journal published in December 2020, the additive manufacturing community emerged to fight against the lack of medical devices during the COVID-19 pandemic. The study stated that diverse designs were produced and used in hospitals by patients and health workers. There was also an increasing use of 3D-printed devices, such as face shields, masks, valves, and nasopharyngeal swabs, which also positively impacted the market's growth. Furthermore, as per the QMED article published in April 2021, in the battle against COVID-19, 3D printer companies specializing in a range of services pivoted their technology and designs to support relief efforts, mass-producing medical products essential for providers in a pandemic. Thus, owing to the increasing use of 3D printing in combating COVID-19, the market is gaining traction and is expected to experience an upward trend over the forecast period.
The significant factors fueling the market's growth are technological advancements leading to enhanced applications, increasing medical applications, and an increasing trend in customized 3D printing. Technological advances are contributing to the market's growth. For instance, in February 2021, Apollo Hospitals and Anatomiz3D Medtech collaborated to design and build hospital 3D printing labs in India that would enable doctors to visualize and print implants for complicated surgical cases.
In March 2022, Zoriox Innovation Labs, consisting of a team of surgeons, dentists, mechanical engineers, biomedical engineers, software engineers, graphic designers, prosthetists, and anatomists, created a 360-degree solution for facial reconstruction using 3D printing technology. Also, many hearing aids are 3D printed with current innovations and technological advancements, making it one of the essential factors expected to drive this market over the forecast period. This has been the case with dental implants as well. Such factors are likely to drive the market's growth over the forecast period.
However, factors such as a shortage of skilled professionals and stringent regulatory guidelines are expected to impede market growth over the forecast period.
