3D printing in healthcare market to reach USD 7.47B by 2030

According to Coherent Market Insights, The global 3D printing in healthcare market was valued at US$ 1.87 Billion in 2022 and is forecast to reach a value of US$ 7.47 Billion by 2030 at a CAGR of 19.0% between 2023 and 2030.

Recent advances of 3D printing in healthcare have led to lighter, stronger and safer products, reduced lead times and lower costs. Custom parts can be tailored to each individual. This improves the understanding of patients by medical professionals and improves patient comfort level by allowing interaction with products that are designed especially for their anatomy. Hence, there is an increasing demand for temperature monitoring devices worldwide.

Market statistics:
The global 3D printing in healthcare market is estimated to account for US$ 1.87 Bn in terms of value by the end of 2023.

Market drivers:
Several companies have received funding for conducting R&D activities on 3D printing. Approximately 200 companies have received heavy investment for 3D printing research since 2011. Majority of these investments were channelized for novel technology development. Presently, start-up companies are financially assisted by government organizations or other established companies, whereas leading players in the market allocate a significant share of their revenue for R&D activities. In addition, the government of developing economies, such as India, China, and others, are investing in 3D research and development activities, which would fuel the growth of the 3D printing healthcare market. Investments in R&D activities are stipulated to increase, owing to their advantages over conventional manufacturing and increase in scope in biomedical applications. This in turn is expected to give an impetus to the market growth during the forecast period

Recent developments:
On July 26 2023, Desktop Health, a brand of Desktop Metal, announced that Desktop Health has partnered with Carbon to validate Flexcera Smile Ultra+ for use on the Carbon Digital Manufacturing Platform. The companies say the partnership will expand access to the nanoceramic resin to hundreds of high-volume dental labs around the world.

In July 24, 2023, Austrian ceramic 3D printing company Lithoz and New York-based biomaterials specialist Himed have announced a long-term partnership to drive innovation in the 3D printing of medical-grade bioceramics. The partnership will focus on the development of medical implants using biocompatible calcium phosphates (CaP), seeking to meet growing demand for 3D printable bioceramic feedstocks.

Market opportunities:
3D printing technology has applications in pharmaceutical research and fabrication. This technology is used to standardize complex drug manufacturing processes and alter drug-release profiles of various dosage forms. 3D printing technology is used to manufacture personalized 3D-printed drugs, which would particularly be beneficial for patients with pharmacogenetics polymorphism or patients consuming drugs with a narrow therapeutic index. This technology is used for manufacturing oral dosage forms consisting of multiple drugs, which would particularly be beneficial to patients suffering from multiple disorders.

The U.S. Food and Drug Administration (FDA) granted approval to the world’s first 3D-printed drug, Spritam, manufactured by Aprecia Pharmaceuticals’ proprietary ZipDose technology. This drug is available in the market for the treatment of epilepsy.

Market trends:
Increasing demand for disposable thermometers across the globe is one of the key trends expected to augment the growth of the global 3D printing in healthcare market. For instance, disposable thermometers are designed to reduce the risk of cross infection or reinfection that may occur with the usage of other thermometers. They are used to measure the temperature at different sites of the body, such as oral, rectal, and under the arm. Moreover, disposable thermometers offer advantages, such as consistently accurate temperature readings that are easy to read and simple to understand and reduced risk of cross infection. Due to their multiple advantages compared to the conventional thermometers, they have been widely accepted among the users.

Key takeaways:
The global 3D printing in healthcare market was valued at US$ 1.87 Bn in 2022 and is forecast to reach a value of US$ 7.47 Bn by 2030 at a CAGR of 19.0% between 2023 and 2030.

Among component, System/Device segment held dominant position in the global 3D printing in healthcare market in 2023, accounting for 50.6% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.

Competitive landscape:
Major players operating in the global 3D printing in healthcare market include 3D Systems Corporation, Exone Company, Formlabs Inc., General Electric (GE Additive), Materialise NV, Organovo Holdings, Inc., Oxford Performance Materials Inc., Proto Labs, Inc., Stratasys Ltd., SLM Solutions Group AG, and among others.

Market restraints:
Highly skilled labor or expertise is required to operate 3D printers, whereas conventional manufacturing processes are majorly dependent on unskilled labors. In addition, heavy investment is required for training employees for operating the 3D printer, thereby increasing the cost of 3D printing process. All these factors collectively restrain the growth of the global 3D printing healthcare market.

Several companies provide training facilities on operating 3D printers. In addition, multiple academic institutions conduct extensive research and development activities pertaining to 3D printing, while providing long- and short-term courses. Thus, the number of trained personnel is expected to increase during the forecast period, thereby minimizing the impact of the restraint on the market. Coherent Market Insights