3D Printing for Medical Sector Market Growth estimates till 2027

 

3D Printing for Medical Sector

3D printing is a new, low-cost technology that has the potential to revolutionise healthcare delivery and therapeutic activities. Artificial skin, kidneys, livers, pancreas, tablets, and orthopaedic and dental implants are all made with 3D printing technology. Current manufacturing capabilities are insufficient to manufacture artificial organs with exact shape and size of small organ pieces.

According to Coherent Market Insights, the global 3D printing for medical sector market size was valued at US$ 542.8 Mn in 2018 and is expected to exhibit a CAGR of 11.7% over the forecast period (2020 – 2027).

Biological models created using 3D printing technology can aid in surgical training, planning, and the provision of tailored medications, hence improving the user's quality of life. While 3D printing is already widely used in dentistry applications, other medical segments such as tissues, prostheses, pharmaceuticals, heart valves, medical equipment, and synthetic skin are projected to employ it more extensively in the near future.

3D printing serves numerous purposes in a number of sectors, but it has four primary uses in the medical area. Allie Nawrat investigated how this technology may be used to replace human organ transplants, speed up surgical operations, develop less expensive versions of necessary surgical instruments, and enhance the lives of those who rely on prosthetic limbs.

Additive manufacturing technologies are used to create 3D printed objects. An item is built in an additive technique by laying down successive layers of material until the product is complete. Each of these layers may be viewed as a cross-section of the item that has been lightly cut. It's utilised in the healthcare industry to make personalised medical equipment and goods.

Furthermore, 3D printing technology meets the growing need for individualised medical care by producing bespoke medical equipment that are tailored to the individual's needs. Furthermore, it has various advantages over traditional reconstructive operations, including a reduction in operating risks during difficult procedures, a reduction in infection susceptibility, and a reduction in anaesthetic exposure time.

The global 3D printing for medical sector market is estimated to surpass US$ 1,447.6 Million by 2027. Furthermore, technical developments in 3D printing, customisation and personalization, increased R&D investments, the availability of a huge patient pool, and a rise in biomedical applications are all propelling the industry forward. Furthermore, the expensive cost of 3D printing, increased reimbursement issues, a rise in copyright and patent concerns, and a shortage of experienced labour all stymie the market's expansion. 

The availability of bioprinting tissues and organs, as well as an increase in pharmaceutical applications, are potential for market expansion throughout the projection period. Furthermore, significant R&D expenditures, quick development of the client base, expansion of the breadth of biomedical applications, and substantial R&D efforts for the improvement of 3D printers at the academic and industrial levels have all propelled market growth.

Furthermore, collaborations between academic institutions, hospitals, and companies have supplemented the growth of the market.