Europe Healthcare 3D Printing Market size was valued at USD 171.9 million in 2017 and is expected to witness over 21.0% CAGR from 2018 to 2024.
Europe Healthcare 3D Printing Market, 2017 & 2024 (USD Million)
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Market will witness robust growth opportunities due to increasing advancements in technology that enable accurate diagnostic decisions during surgical procedures. Growing investments in R&D have helped integration of advanced technology within the devices thus, proving beneficial for industry growth.
Moreover, increasing number of road accidents and trauma cases in the region will serve to be another positive impact rendering factor on the industry growth. Thus, growing demand for 3D printing technology for effective generation of standard and complicated customized prosthetic limbs and medical implants will favour business growth. However, high cost associated with healthcare 3D printing may impede business growth over the analysis timeframe.
Europe Healthcare 3D Printing Market, By Product
Syringe based segment held momentous revenue share in 2017 and is projected to witness over 21.5% CAGR over the forecast timeline. Increasing usage of syringe-based 3D printers in production of wide range of structures used in healthcare will foster segmental growth.
Magnetic levitation segment is expected to exceed USD 75 million by 2024. Segment growth is attributed to growing uptake of magnetic levitation in in-vitro reconstruction of natural tissue environment. Ability of magnetic levitation technique to distinguish cancer products with ideal magnetic blueprint to ensure effective circulating tumour cell (CTC) diagnosis and care should further drive business growth.
Europe Healthcare 3D Printing Market, By Technology
Fused deposition modeling (FDM) segment was valued around USD 70 million in 2017 and will show lucrative growth during the forecast period. Widespread applications of FDM in areas including implants, tissue engineering, study of clinical devices, & external wearable devices will further surge the demand for FDM technology in healthcare 3D printing.
Selective laser sintering (SLS) segment is estimated to witness more than 21% CAGR over the analysis period. Usage of selective laser sintering technology for mass customization as well as personalized manufacturing in small batches will upsurge segmental growth during the analysis timeframe.
Europe Healthcare 3D Printing Market, By Application
Medical segment was valued more than USD 80 million 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 over the coming years.
Dental segment held considerable revenue in 2017 and is projected to show around 20% CAGR over the analysis period. Increasing patient preference towards customized and affordable 3D printed products based on patients’ requirement will propel the segmental growth.
Europe Healthcare 3D Printing Market, By Country
UK healthcare 3D printing market held substantial revenue share in 2017 and is estimated to witness around 22.5% CAGR by 2024. Joint efforts by industry players along with innovative solutions offered by 3D printing technology will stimulate the business growth. Increasing awareness regarding availability of effective solutions in the medical field, adoption of innovative technologies will further spur the UK healthcare 3D printing market size.
Competitive Market Share
Some of the notable industry players operating in Europe healthcare 3D printing industry include Aspect Biosystems, 3D Bioprinting Solutions, BioBots, Digilab, Luxexcel, Oceanz, Envision TEC, 3Dynamics Systems, Organovo and Solidscape. Companies are primarily focusing on various strategies including novel product launches, partnerships and acquisitions to expand company’s geographic reach and broaden existing customer base. For instance, in May 2019, Materialise partnered with Nikon, Essentium and HP to support adoption of 3D printing among industrial manufacturers. The partnership is aimed at improving connectivity and productivity to additive manufacturing operations.
Europe Healthcare 3D Printing Industry Background
Healthcare 3D printing industry can be dated back in 1990s when it was first used in the medical field as custom prosthetics and dental implants. Focus of researchers on growing tissues and organs from patient cells led to introduction of a miniature kidney. 3D printed organs such as prosthetic leg and printed jaw were later developed in 2008 and 2012 respectively. With the advent of technology in 3D printing, rapid evolution in medical research led to transformation in the healthcare industry. Industry players are now taking various efforts to offer affordable and highly advanced 3D printing techniques as well as products. Several applications of 3D printing in healthcare including customization and personalization of medical products and equipment is expected to stimulate healthcare 3D printing industry growth over the analysis period.