According Vision Research Reports, the global Healthcare Additive Manufacturing market size is expected to hit around US$ 11.5 billion by 2030 from valued at US$ 1.5 Billion in 2021 and is anticipated to grow at a CAGR of 22.5% during forecast period 2022 to 2030.
According Vision Research Reports, the global Healthcare Additive Manufacturing market size is expected to hit around US$ 11.5 billion by 2030 from valued at US$ 1.5 Billion in 2021 and is anticipated to grow at a CAGR of 22.5% during forecast period 2022 to 2030.
Growth Factors
The healthcare additive manufacturing technology helps in producing complex designs easily, forming personalized products, eliminating the production step, and producing lightweight products, which, in turn, is fueling the market growth. Growing commercialization of the manufacturing process, rising investment by the government, and an increase in R&D in devices formed using additive manufacturing are key factors driving this market. There was a slowdown in the growth of the market at the start of 2020 due to the COVID-19 pandemic, but the market has gained pace in the second half by fulfilling the growing demand for the manufacturing of medical devices, PPE kits, and face shields to fight against the pandemic.
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The advantages of additive manufacturing over traditional production methods are driving its growing popularity. The utilization of modern technology, design freedom, dimensional precision, the use of a wide range of materials such as metal, plastics, and polymers, build speed and the capacity to construct complicated parts/geometry, such as cooling channels and honeycomb structure, are just a few of the advantages of additive manufacturing. However, the main use of additive manufacturing in the healthcare industry is the production of implants and prostheses.
The growing geriatric population has led to an increase in orthopedic operations such as knee and hip replacements, which has resulted in the increased demand for the implants and prostheses leading to quicker manufacturing of these products, thus additive manufacturing plays a crucial role to meet the demand. Also, it helps in the manufacturing of prosthetic devices that help the patient regain lost parts of limbs and also help in regaining mobility post-amputation or stroke. The devices created by this technology are light in weight, unique, and can be designed easily. They also have good stiffness in regions where support is required and are flexible in regions where comfort is required.
The COVID-19 pandemic significantly impacted the market. Initially, manufacturing unit constraints caused by stay-at-home orders led to supply chain disruption and labor shortages. However, by compensating for the paucity of medicinal supplies by speeding up the manufacturing process, additive manufacturing is playing a crucial role in the fight against the COVID-19. Over the projection period, this will propel the market forward. Medical device approvals are subject to demanding regulatory approvals, which may stifle growth.
| Report Attributes | Details |
| Market Size in 2021 | USD 1.5 Billion |
| Revenue Forecast by 2030 | USD 11.5 Billion |
| CAGR | 22.5% from 2022 to 2030 |
| Largest Market | North America |
| Fastest Growing Region | Asia Pacific |
Technology Insights
The laser sintering segment dominated the market and accounted for a revenue share of over 30.5% in 2021. Laser sintering is an advanced technology that uses lasers to amalgamate material layers into the final product. Snap fittings, live hinges, and other mechanical joints are among the practical applications where LS is the technology of choice. The main drivers of this market are advanced machinery, software, and materials that have made this technology available to a wide range of biotechnology firms. It can produce multiple pieces at one time and does not require support to build an object.
The deposition modeling segment is expected to register the fastest CAGR of 26% during the forecast period. This technology allows items to be made from a variety of thermoplastics such as rigid, transparent, or elastomer polymers. This is leading to reduced time by shortening lead time and speeding up the prototyping process. It uses a wide variety of materials to produce desired medical products and can fabricate medical products on demand. Moreover, it is a budget-friendly technology and it produces good resolution and precise medical products.
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Application Insights
The medical implants segment accounted for the maximum revenue share of over 31% in 2021. This segment will retain its position during the forecast period due to a rise in the geriatric population that led to a rise in demand for orthopedic procedures, such as hip and knee replacements. The demand for spinal implants that are trauma-associated is also increasing.
The wearable devices segment is expected to expand at the fastest CAGR of 24% during the forecast period. This is due to the rising demand for wristbands and fitness devices that are used for monitoring health. There is also a rise in the use of technologically advanced products for patient monitoring and disease management. They help in improving the quality of patient care and reduce the cost of care.
Material Insights
The polymers segment emerged as the largest revenue share of over 51% in 2021. Medical instruments, prosthetic limbs, and related accessories have all been made with polymer-based additive manufacturing for decades. Polymer materials have been the most widely used class of materials for additive manufacturing processes due to their synthetic plasticity and adaptability and a variety of features. They also have a wide range of uses in the healthcare business, from instructional objectives to medical implants and wearable gadgets. The mentioned reasons are expected to fuel market expansion.
The biological cells segment is expected to expand at the fastest CAGR of 25% during the forecast period. The main drivers of this market are the growing geriatric population with chronic diseases and the limited number of organ donors. In addition, technological advancements, rising R&D investments, and increasing demand for medical pills that are formed using additive manufacturing are fueling the growth.
Regional Insights
North America dominated the market and accounted for a revenue share of over 35.5% in 2021. The major factors contributing to the market growth include an increase in the geriatric population, high purchasing power, strong government support for quality healthcare, and supportive reimbursement policies in the U.S. and Canada. For instance, in the U.S., the Patient Protection and Affordable Care Act (PPACA), also known as Obamacare, provides residents with affordable and high-quality health insurance plans. Furthermore, favorable government measures to assist research and development in the concerned industry are increasing the adoption of products made with additive manufacturing, which is driving the market.
Asia Pacific is projected to be the fastest-growing regional market with a CAGR of 29% during the forecast period. Lower costs, a competent workforce, quickly increasing healthcare infrastructure, the rising prevalence of arthritis, economic development, and the significant unmet medical requirements of a big population pool are all expected to drive the market in this region. Dental 3D printing is also in high demand due to the growing number of patients who are having their teeth replaced.
Key Players
GE Additive; 3D Systems, Inc.; EnvisionTEC; regenHU; Allevi, Inc.; EOS GmbH; Materialise N.V.; Stratasys Ltd.; Nanoscribe GmbH; GPI Prototype; and Manufacturing Services, LLC.
Market Segmentation
- Technology Outlook
- Stereolithography
- Deposition Modeling
- Electron Beam Melting
- Laser Sintering
- Jetting Technology
- Laminated Object Manufacturing
- Others
- Application Outlook
- Medical Implants
- Prosthetics
- Wearable Devices
- Tissue Engineering
- Others
- Material Outlook
- Metals and Alloys
- Polymers
- Biological Cells
- Others
- Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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