North America Healthcare 3D Printing Market size was valued at USD 232.6 million in 2017 and is expected to witness 21.0% CAGR from 2018 to 2024.
North America Healthcare 3D Printing Market, 2017 & 2024 (USD Million)
Increasing application of 3D printing in the medical field is the key factor driving healthcare 3D printing market growth. Advent of technology in 3D printing that facilitates accurate diagnostic decisions during surgical procedures will favour segment growth. Growing investments in R&D to ensure integration of advanced technology in tissue engineering, bioprinting and other applications will foster the healthcare 3D printing business growth over the forecast period.
Furthermore, surge in demand for customized implants will positively impact industry growth. Extended clinical applications of 3D printing for creation of tissues and organs coupled with growing investment in R&D activities will stimulate the business growth. Growing inclination towards 3D printed organs and strong foothold of major industry players in the region should further propel healthcare 3D printing market over the coming years. However, high price associated with 3D printing software may impede healthcare 3D printing industry growth during the analysis period.
Syringe based segment held significant revenue share in 2017 and is estimated to witness around 20.5% CAGR over the forecast period. Segment growth is attributable to advantages offered by syringe based printers such as high flexibility and ease of controlling the flow rate of material.
Magnetic levitation segment is estimated to exceed USD 100 million by 2024 owing to rising uptake of magnetic levitation to print spheroids that represent cellular environment. Ability to discrete circulating tumor cells (CTCs) from unprocessed whole blood without using antibodies should drive healthcare 3D printing industry growth.
Fused deposition modelling (FDM) segment was valued around USD 85 million in 2017 and will witness robust growth during the forthcoming years. Segment growth is attributed to wide applications in healthcare and prototyping scaffolds for medical tissue engineering. Cost-effectiveness of FDM over selective laser sintering (SLS) printers will favour segment growth.
Selective laser sintering (SLS) segment is projected to witness over 21% CAGR over the analysis period owing to its ability to produce detailed and delicate structures. High productivity along with established materials make it ideal technology for wide range of applications such as functional prototyping thus, augmenting segmental growth.
Medical segment accounted for more than 45% revenue share in 2017 and will witness considerable growth in the foreseeable future. Usage of 3D printers for manufacturing various medical devices with complex features and geometry to match patient’s anatomy, will increase its adoption for providing customization to the patient.
Dental segment is anticipated to witness over 20% CAGR over the forecast period due to greater affordability, customization and technological advancements in dentistry. Applications of 3D printing in dental segment including creation of implants, bridges, crowns fabrication of copings, surgery and rental restorations offer significant growth opportunities thereby, stimulating segment growth.
U.S. accounted for more than 90% revenue share in 2017 and is anticipated to show similar trend by 2024. Technological advancements pertaining to healthcare 3D printing will surge the adoption of advanced products such as 3D printed bone, 3D printable pill and dental guides, thereby propelling U.S. healthcare 3D printing industry growth. Increasing healthcare expenditure in the country along with presence of well-developed healthcare infrastructure will positively impact business growth.
Some of the notable industry players operating in North America Healthcare 3D Printing industry include 3D Biotek, 3D Systems, Aprecia Pharmaceuticals, Aspect Biosystems, BioBots, Digilab, Nano3D Biosciences, Organovo, Stratasys and TeVido BioDevices. Companies are focusing on strategies such as innovative product launch, collaboration and acquisition to capitalize on market opportunities and sustain market competition. For instance, in September 2016, Nano3D Biosciences and Cold Springs Harbor laboratory (CSHL) collaborated to advance the 3D spheroid technology in high throughput screening HTS, aimed at cancer biology and drug discovery. This strategy enabled companies to strengthen their market position and broaden customer base.
History of 3D printing in healthcare can be traced back in 1990s when it was first used for medical purpose as dental implants and custom prosthetics. Later, focus of scientists on growing organs from patient cells led to development of a miniature kidney and further into 3D printed organs such as prosthetic leg and printed jaw in 2008 and 2012 respectively. Advent of technology in 3D printing has led to rapid evolution in medical research, with the potential to transform healthcare. 3D printers have now become fairly cost effective and are commonly used in healthcare settings. Numerous applications of 3D printing in medicine such as customization and personalization of drugs, medical products as well as equipment is projected to accelerate healthcare 3D printing industry growth over the forecast period.