3d Printing Healthcare Market Is Expected to Reach $2.3 Billion, Globally, by 2020

A new report published by Allied Market Research, titled, “World 3D Printing Healthcare Market—Opportunities and Forecasts, 2014–2020,” projects that the world 3D printing healthcare market is forecast to grow at a CAGR of 26.2% from 2015 to 2020. External wearable devices application is set to boost the 3D printing healthcare market to $2.3 billion market by 2020. In addition, medical and surgical centers are the major end users of the 3D printing technology by constituting around three-fourths share of the total 3D printing healthcare market.

The world 3D printing healthcare market is mainly driven by several technological breakthroughs, such as multi-material, full color 3D printers that are solar-powered and portable. In addition, public and private organizations have been investing in R&D activities, thereby driving the market growth. Moreover, the ability of 3D printing technology to provide customized and personalized medical devices and increasing set of available and biocompatible materials are anticipated to drive the market growth. In addition, increasing geriatric population, rising incidence of osteoporosis, growing number of amputees, and spiraling number of patients with auditory loss & dental problems have fueled the market growth. Moreover, the increasing use of this technology in hospitals would reduce the duration of surgery, anesthesia exposure and operative risks, aid in the effective pre-surgery planning, and improve surgeon’s practice, thereby promoting faster healing. In addition to the aforementioned factors, 3D printed organs have provided the highly demanded alternative methods for animal testing, thereby assisting the market growth by shortening the time span for clinical trials and reducing cost and inherent risks associated with testing of new drugs. However, high cost associated with advanced 3D printers, lack of both structured regulatory frameworks & reimbursement policies, and copyright & patent issues associated with 3D printing...