3d Printing Healthcare Services Market Analysis by Products

3D printing technology is a rapid emerging technology, which empowers manufacturers in the medical sector to produce customized medical equipment and products. 3D printing, also known as additive manufacturing, utilizes a layer-by-layer addition technique to produce physical objects from a three-dimensional digital file. The 3D printing technology caters to the rising demands of personalized medical care by providing customized medical devices based on individual needs. In addition, it enables surgeons to plan surgeries, which in turn helps to reduce the operative risks involved during complex procedures, risk of infection, and decrease the duration of anesthesia exposure. This would enable patients to recover faster and reduce the hospital stay duration. In addition, 3D printing technology would facilitate surgeons to improve the success rate of complicated procedures. Moreover, this technology has revolutionized preclinical drug testing by facilitating testing on 3D printed organs as an alternative to animal testing. The recent success in the 3D printing of tablets has opened new avenues for the 3D printing technology for use in the pharmaceutical industry.

The world 3D printing healthcare market was evaluated at $579.0 million in 2014 and is estimated to garner $2,363.8 million by 2020, registering a CAGR of 26.2% during the forecast period 20152020. This market is expected to witness significant growth during the forecast period on account of the numerous technological innovations in this sector. In addition, augmented R&D investments, rapidly expanding customer base, increasing scope of biomedical applications, and extensive research and development activities at the academic and industrial level have fueled the market growth. Furthermore, collaborations between academic institutions and companies to accelerate the process of product development has supplemented the market growth. However, absence of a structured regulatory framework, unfavorable...