July 21, 2024

Global Healthcare Additive Manufacturing Market Is Anticipated To Witness Significant Growth Owing To Growing Prevalence Overview

Healthcare Additive Manufacturing Market

Healthcare additive manufacturing, also known as 3D printing, involves the application of layer-by-layer fabrication techniques to create medical devices, prosthetics, implants, and anatomical models. This technology revolutionizes the healthcare industry by enabling the production of highly customized and intricate objects with greater precision and efficiency. It allows for the creation of patient-specific implants and prosthetics, tailored to individual anatomy and needs. Customization enhances treatment outcomes and patient comfort. Complex structures, such as lattice structures for implants, can be easily produced, promoting bone integration and reducing implant weight. Surgeons also benefit from 3D-printed anatomical models, which aid in preoperative planning and education. Additive manufacturing accelerates innovation, enabling the rapid development and testing of medical prototypes. It facilitates the production of small batches of specialized medical devices that may not be feasible with traditional manufacturing methods.

Market Dynamics:

Rising collaborations among key players are estimated to augment the growth of the global healthcare additive manufacturing market during the forecast period. For instance, Stratasys and RICOH 3D collaborated in November 2021, for employing their 3D printing technology to offer medical professionals and hospitals 3D-printed, patient-specific anatomic models. Moreover, rising costs and a lack of skilled professionals are anticipated to restrain the growth of the global healthcare additive manufacturing market during the forecast period.

Impact of COVID-19:

The pandemic impacted almost every market globally. Manufacturing activities were halted in many industries owing to the unavailability of raw materials in several regions. The pandemic also caused a shortage of labor and disrupted several supply chains. This had a negative impact on several industries globally. However, during the pandemic, there was an increased demand for medical devices. This led to increasing demand for healthcare additive manufacturing during the pandemic. Thus, the pandemic had a positive impact on the growth of the global healthcare additive manufacturing market. Moreover, the market is estimated to witness growth in the post-pandemic era, as the demand for medical devices has increased.

Key Takeaways:

The global Healthcare Additive Manufacturing Market is expected to witness high growth, exhibiting a CAGR of 22.4 % over the forecast period, due to increasing product launches. For instance, Stratasys launched the J3 DentaJet 3D printer, in February 2023. This printer helps dental laboratories in producing highly precise mixed applications instantaneously.

North America is anticipated to witness significant growth in the global healthcare additive manufacturing market during the forecast period, due to the growing occurrence of key players and rising initiatives.

Key players operating in the global healthcare additive manufacturing market are Jabil Inc., General Electric Company, AIM Sweden, 3D Systems, Inc., CRS Holdings Inc., EnvisionTEC, INC., Lithoz, regenHU, 3Dnatives, Materialise, Additive Manufacturing Ltd., EOS, Stratasys Ltd., GPI Prototype and Manufacturing Services, LLC, and INCREDIBLE AM PVT LTD.