European healthcare 3D printing market to gain $650m
According to the Graphical Research new growth forecast report titled Europe Healthcare 3D Printing Market is estimated to exceed $650m by 2024. Europe healthcare 3D printing market is primarily driven by increasing awareness regarding different applications of 3D printing technology in the healthcare industry. Adoption of 3D printing in tissue engineering, bioprinting as well as for burns and injuries is increasing over the recent years.
Ability of 3D printing technology to create layers of human skin in patients with severe burns, accidents or critical injuries is expected to upsurge the business growth. Increasing number of accidents and trauma cases in the region will spur Europe healthcare 3D printing market size.
Furthermore, technological advancements in healthcare 3D printing industry will render positive impact on the business growth. Growing investments in R&D for introduction of advanced 3D printed products that offer scanning using smartphones will surge demand for such products.
Focus of various biotech companies on production of tissues and organs for medical as well as research purpose will further stimulate the business growth. However, high price associated with 3D printing software may hamper Europe healthcare 3D printing industry growth during the forthcoming years.
Syringe based segment was valued more than $70 million in 2017 and is poised to witness robust growth over the forecast period. This is attributable to benefits offered by syringe based products such as high flexibility and easy control over the flow rate of material. Materials printed using syringes include silicone, biomaterials such as cells, conductive polymers and frostings. Thus, increasing usage of syringe-based printers in healthcare for manufacturing advanced structures will spur the segment revenue size.
Fused deposition modelling (FDM) segment held around 40% revenue share in 2017 and is projected to grow significantly over the analysis period. Segment growth is attributed to wide ranging applications of fused deposition modelling in healthcare and prototyping scaffolds for medical tissue engineering. Cost-effectiveness of FDM over selective laser sintering (SLS) printers will further surge segment revenue share.
Biosensors segment is expected to exceed $125m by 2024. Growing demand for biosensors in different R&D areas will foster business growth. Focus of industry players on development of advanced sensor systems to monitor patient condition and offer advances in point-of-care diagnosis will favour segmental growth.
Germany healthcare 3D printing market held substantial revenue of more than $30m in 2018 and is estimated to witness lucrative growth during the forecast period. Wide range of applications in medical field coupled with technological innovation in 3D printing will boost the business growth. Growing investment in R&D activities, rising demand for patient specific prosthesis and advancement in technology will drive Germany 3D printing industry growth over the forecast period.
Prominent industry players operating in Europe healthcare 3D printing market include Solidscape, Aspect Biosystems, BioBots, 3D Bioprinting Solutions, Digilab, 3Dynamics Systems, Luxexcel, Oceanz, Envision TEC, Organovo, Materialise, regenHU, Bio 3D Technologies,3D Biotek, Renishaw, Stratasys, TeVido BioDevices and 3D Systems.
Industry players are majorly focusing on several inorganic strategies to capitalise on market opportunities and maintain their position in the market. For instance, in May 2019, Materialise announced expansion of its innovative work with HP Inc. to advance 3D printing on industrial scale. The strategy rendered HP the authority to print anatomical models for diagnostic purpose as well as surgical planning.
The Europe healthcare 3D printing market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2013 to 2024, for the following segments: product, technology, and application, with sub categories within these segments.