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The global 3D application in healthcare market is growing at the CAGR of 21.2%, and will contributes $1.23 billion till 2022. The major rise in the global 3D application in healthcare market is due to the technological advancement in 3D printing, as one can produces or prints organs, bones etc., which can save life of the people. Bio engineering advancement is thrusting the growth of market. For example one can do dental implant, develops or print broken bone, construct a tissue, etc.
3D in healthcare has many advantages but apart from it, this technology is very costly and limited in reach. As the 3D application is very accurate and provides successful result but again the cost factor & unawareness comes in the way of growth of this market. Hospital and research centers are the key buyers of this technology. 3D printers can cost up to $ 800000 and it lays a huge burden on the budget of hospitals & research center which restrain them from buying this product. Thus, this product is only limited to that organizations, hospitals who have a sound capital budget to be invested in this type of equipments. Similar issue are faced by 3D imaging devices makers and virtual reality this acts as a barrier in the growth of global 3D application in healthcare market.
The major driver which promotes the 3D application in healthcare market is customization of products. One can customize the products according to the individuals need and requirements.
The healthcare industry is experiencing a revolutionary change due to technological advancement in the 3D printing technological framework. 3D printing in terms of bio printing, medical and dental implants, Ortho implants and creation of prosthetics among all others is pushing the healthcare 3D printing industry to the next level. Different materials such as metal, metal alloys, plastics and ceramics are helping the 3D printing technology to easily integrate with the human body. In this material plastics are mostly used due to its properties like light in weight, flexible in nature, cost effective and easy to use.
The 3D application in healthcare market is divided into North America, Europe, Asia Pacific and rest of the world, in which North America is the leader of this market having 46%of market shares. North America is dominated country due to increased adoption of 3D printing technologies and increased investments. Europe is the second major shareholder of global 3D printing in healthcare market next to America, Asia pacific is the fastest growing market in this field due to increase in population, and application of 3D printings in implants and surgeries. In near future this market is expected to be leader of this field.
GE Healthcare, Siemens Healthcare, Philips Healthcare, Toshiba Medical Systems, BARCO NV, Hitachi Medical Systems etc., are the major players in this market. New products developments, Acquisitions, expansions and mergers are the key strategies adopted by the market players to sustain in the market. Stratasys partnered with Worrell for new 3D printed medical devices.
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