Asia Pacific Healthcare 3D Printing Market size was valued at USD 92.8 million in 2017 and is expected to witness 20.9% CAGR from 2018 to 2024.
Asia Pacific Healthcare 3D Printing Market, 2017 & 2024 (USD Million)
Asia Pacific healthcare 3D printing market is projected to witness robust growth during the forthcoming years owing to increasing number of accidents and trauma cases in the region. Numerous medical applications of 3D printing including development of 3D printed bones, jawbone, ears, exoskeletons, eyeglasses, tissues, stem cells, windpipes, blood vessels, cell cultures, vascular networks, organs as well as novel dosage forms and drug delivery devices will accelerate Asia Pacific healthcare 3D printing industry growth.
Moreover, rapid changes in healthcare infrastructure will serve to be another positive impact rendering factor in the industry growth. Technological advancements in medical field, government support and rising investment in R&D activities pertaining to 3D printing are some of the major factors boosting market healthcare 3D printing industry growth during the forecast timeframe. However, high cost associated with 3D printed organs and tissues may hinder regional business growth over the analysis period.
Asia Pacific Healthcare 3D Printing Market, By Product
Syringe based segment accounted for over USD 35 million in 2017 and is estimated to witness lucrative growth over the forthcoming years. Affordable and readily available 3D printing that allows rapid prototyping of new ideas in the field of medicine will increase the demand for syringe based 3D printing, thereby augmenting segmental growth.
Laser based segment is projected to exceed USD 60 million by 2024 owing to its wide adoption in cell printing procedures. Ability of laser energy to stimulate cells in a precise form by providing spatial control of the cellular environment will further surge the demand for laser based 3D printing business growth.
Asia Pacific Healthcare 3D Printing Market, By Technology
Fused deposition modeling segment held more than 40% revenue share in 2017 and will show similar trend over the coming years. Segment growth is attributed to growing adoption of fused deposition modeling (FDM) technology in production of fully functional parts using standard plastics.
Stereolithography segment is estimated to exceed USD 40 million by 2024. Wide adoption of stereolithography to produce large parts, high accuracy and surface finish will augment segment growth during the analysis period.
Asia Pacific Healthcare 3D Printing Market, By Application
Medical segment is anticipated to witness momentous growth of around 21% over the forecast period. Adoption of healthcare 3D printing for printing multiple copies of standard designs or same devices will favour segment growth. Growing demand for patient specific devices or equipment will further spur the segmental revenue size.
Asia Pacific Healthcare 3D Printing Market, By Country
Japan healthcare 3D printing market held significant revenue share in 2017 and is estimated to witness around 20% CAGR by 2024. R&D investment by industry players and focus on offering innovative solutions using 3D printing technologies will stimulate the business growth. Rising awareness regarding availability of advanced solutions in the medical field, surge in demand for innovative technologies and presence of well-developed healthcare infrastructure in the country will further spur Japan healthcare 3D printing market size.
Competitive Market Share
Some of the notable industry players operating in Asia Pacific healthcare 3D printing industry include Altem Technologies, Bio 3D Technologies, Aspect Biosystems, BioBots, Renishaw, Envision, Materialise, Stratasys, 3D Bioprinting Solutions, Zenith Tecnica and Zortrax. Industry players are primarily focusing on innovative product launches and inorganic strategies including mergers and acquisitions to strengthen company’s existing product portfolio and capitalize on market opportunities. For instance, in June 2019, Zortrax launched biocompatible 3D printing resins for dental as well as prosthetic applications. This launch aimed at developing dedicated materials optimised for its Inkspire 3D printing platform, for creating temporary bridges, crowns as well as surgical guides.
Asia Pacific Healthcare 3D Printing Industry Background
History of 3D printing, commonly known as additive manufacturing can be traced back in 1983 when Chuck Hall, the father of 3D printing, manufactured world’s first 3D printer to print a tiny eye wash cup. 3D printing, since its introduction, has been used in several areas in the medical field including creation of anatomical models, personalising implants and medical devices and assisting in precision medical interventions. In 1990s, 3D printing was used to develop dental implants as well as custom prosthetics. Later, 3D printed organs including prosthetic leg and printed jaw were developed in 2008 and 2012 respectively. Advent of technology in 3D printing owing to rapid evolution in medical research has transformed healthcare industry over the last few years. Focus of industry players on development of affordable and technologically advanced 3D printing techniques and products will offer several growth opportunities in the market. Wide range applications of 3D printing in healthcare industry such as personalization and customization of medical products and equipment is anticipated to accelerate healthcare 3D printing industry growth during the forecast period.