Global 3D Applications in Healthcare Market is expected to grow at a CAGR of 20% during the forecast period 2022-2030


3D printed healthcare products have turned into reality with increasing customization.  They can be customized according to the patients and it is supported by strong research and development. The market however is very small compared to the conventional market and faces stiff competition. The products are highly expensive and require a lot of maintenance. High cost is the major restraint for the market. 3D printing market is expected to grow at CAGR of 20% during the forecast period of 2022-2030. There are various applications of 3D like cinema, television, automobile, construction and healthcare. Healthcare companies have entered the 3D imaging market. 3D diagnostic imaging market has the largest share (80.11%) in the overall 3D healthcare technology market.

3D Printing technology has made it possible to implant hearing aid shells, dental implants and replace hips and knees. 3D technology is accurate, reliable and a better choice over conventional methods. Most of the hearing and dental implants made of 3D printers are accurate and reliable. The normal time to replace a knee involves 4-7 days; however, by 3D technology it would take 80-90 minutes. Doctors and medical students could use 3D images for mock operations. There is huge scope in dental and fixtures market with the increase in awareness about 3D technology market. 3D technology in healthcare enables bioengineers and physicians to create an artificial ear. The ear could enable the user to hear and the device looks similar to human ear and has no side effects.

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Congenital deformity called microtia is prevalent globally and deprives the individual from hearing abilities. 3D printing technology provides relief to thousands of such patients who could hear using the device. Artificial ears are made of materials that have Styrofoam like consistency. Surgeons may create ears from cow cartilage cells; however, experiments have been going on to grow human ear cartilage in various laboratories. Presently the cost incurred by the individual patient for implants are very high. The 3D technology market would cut down the total cost significantly. Knee replacement in the U.S. costs around $70,000 involving hospital charges, physiotherapy and miscellaneous which would come down to approximately $45,000-$50,000. 3D technology would eliminate the physiotherapy cost and other hospital charges. It would also save time and efforts compared to conventional technologies.

3D printing market is segmented into various categories. However, implants and surgeries are the main commercialized sectors. Implants have the highest market share with 76% of market revenues in 2021. The market is expected to grow at a CAGR of 20% during the forecast period. Surgical guides and instruments market is second highest with 23% market share. The market is expected to grow at CAGR of 23% during the forecast period.

Market for 3D technology in healthcare consists of three major market segments: 3D printing, 3D imaging and virtual reality. Imaging market is highly developed and has a strong presence in North America and Europe. 3D printing market is also growing and has a good presence in North America, Europe and Asia Pacific. Virtual reality is a new market and is mainly confined to North America only, which has almost 80% share. On the overall market segment North America has almost 50% share followed by Europe (25.08%) and Asia-Pacific (20.16%). Market for rest of the world is small and underdeveloped with only 4.91% share in 2021.

KEY MARKET MOVEMENTS

  • 3D printing market is expected to grow at CAGR of 20% during the forecast period of 2022-2030.
  • Healthcare companies have entered the 3D imaging market. 3D diagnostic imaging market has the largest share (80.11%) in the overall 3D healthcare technology market.
  • Implants have the highest market share with 76% of market revenues in 2021. The market is expected to grow at a CAGR of 20% during the forecast period.
  • Surgical guides and instruments market is second highest with 23% market share. The market is expected to grow at CAGR of 23% during the forecast period.
  • Virtual reality is a new market and is mainly confined to North America only, which has almost 80% share.
  • On the overall market segment North America has almost 50% share followed by Europe (25.08%) and Asia-Pacific (20.16%).
  • Market for rest of the world is small and underdeveloped with only 4.91% share in 2021.

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