The market for 3D-printing technologies in the healthcare industry is expected to exceed $2.3 billion by the year 2020, according to a new report published online by Allied Market Research.
The report forecasts market growth at a CAGR of 26.2 percent from 2015 to 2020 for healthcare-related 3D printing, with the biggest boost coming from the wearable device segment.
“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,” the firm said in a press release. “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.”
Other key findings from the report:
- The electron beam melting technology segment is projected to grow at the highest CAGR of nearly 30 percent from 2015 to 2020.
- The medical and surgical centers end user segment accounts for two-thirds of the market and is expected to dominate the market until 2020.
- The tissue engineering application segment would emerge as the fastest growing segment, registering a CAGR of 32 percent during the forecast period.
- North America accounted for two-fifths share of the healthcare 3D printing market, whereas the Asia-Pacific is anticipated to be the fastest growing market, registering a CAGR of 30 percent from 2015 to 2020.