March 09, 2020
As per the report titled ‘North America Healthcare 3D Printing Market Size By Product, Technology, Application, Industry Analysis Report, Country Outlook, Application Potential, Competitive Market Share & Forecast, 2018 - 2024’, available with Market Study Report LLC, North America healthcare 3D printing market is projected to amass USD 850 million by the year 2024.
Increasing number of accidents coupled with surging applications of 3D manufacturing technologies in the healthcare sector are driving the growth of North America healthcare 3D printing market. Growing adoption of 3D printing systems for the production of bones, cell cultures, ears, exoskeletons, tissues, windpipes, stem cells, vascular networks, blood vessels, and organs are augmenting the market growth.
Inflowing investments in R&D to integrate innovative features such as the ability of 3D printing devices to scan through smartphones will present new growth opportunities in the coming years. In addition, growing patient inclination towards customized implants will boost the market growth over the forecast timeline. On the contrary, lack of skilled healthcare professionals across the region may hamper the growth of North America healthcare 3D printing market.
Based on the product terrain, laser-based segment amassed USD 40 million in 2017 and is anticipated to witness considerable growth during the forecast period. Increasing demand for laser-based 3D printers for DNA synthesis on account of several benefits such as shorter printing period, cost effectiveness, and efficient formulation of medicines are driving the segment growth. Notably, these DNA laser printers produce more viable DNA as compared to conventional methods which is further boosting the product adoption.
Elaborating on the technology, fused deposition modeling segment is estimated see a substantial growth to accumulate USD 350 million by the end of 2024. The growth can be affixed to growing adoption of the technology for tissue engineering, implants, and clinical studies.
Speaking of the application spectrum, medical segment accounted for 45% revenue share of North America healthcare 3D printing market in 2017 and is expected to follow similar growth trends during the forecast timeline. Increasing cases of organ failure and lack of suitable organ donors have increased the number of fatalities. This is encouraging the adoption of 3D printers for the manufacturing of living organs including liver, legs, and heart, thereby propelling the segment growth.
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As per the regional analysis, U.S. healthcare 3D printing market is projected to accrue USD 790 million by the end of the analysis period. Growing awareness pertaining to the use of 3D printing in healthcare coupled with escalating demand for patient specific implants and ongoing technological advancements are supporting the regional market growth. High accuracy, low production cost, shorter manufacturing time, and reduced human errors associated with these printing technologies will augment the business landscape in the forthcoming years.
Major players of North America healthcare 3D printing market are Stratasys, Aprecia Pharmaceuticals, 3D Systems, BioBots, Aspect Biosystems, Organovo, TeVido BioDevices, 3D Biotek, Digilab, and Nano3D Biosciences.
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