Key Companies Covered in the Europe 3D Printing in Healthcare Market Research are General Electric, Materialise NV, Oxferd Performance Materials, Inc., Organovo Holdings, Inc., Proto Labs, SLM Solutions Group AG, and Stratasys Ltd. and other key market players.
The global Europe 3D Printing in Healthcare Market size is projected to reach $5,846.74 million by 2031 from $1,036.58 million in 2022, at a CAGR of 20.10% during the forecast period. Kenneth Research has evaluated the current market opportunities in Europe 3D Printing in Healthcare Market in the healthcare industry for the forecast period 2022-2031, which also includes the ongoing industry trends and innovations that will help industry players to attain their business targets. Apart from that, the inclusive data on market size, market share and forecast, growth opportunities and challenges for the market players, along with the worldwide analysis on regions- North America, Latin America, Europe, Asia Pacific and Middle East & Africa, has also been provided in the report.
Rise in pharmaceutical applications and availability of bioprinting tissues & organs are opportunistic for the market growth during the forecast period. In addition, heavy investments for R&D activities, rapid expansion of customer base, increase in scope of biomedical applications, and extensive R&D activities for the advancement in 3D printers at the academic and industrial level have fueled the market growth.
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In Q4 2021, U.S. current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, country’s goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006. Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches highest at 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point impacting the economic activity in the U.S, pushing consumers to spend less on the products and services and save more.
On the other hand, the worst is expected to be seen in the European countries, especially during 2022 winters. The energy and gas crises has already started grappling the region, wherein many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage created by Russian-Ukraine conflict.
Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.
Healthcare Companies and Private Service Providers to have a minimal damage Caused by Inflation:
As US govt. remains committed to quality by spending more in the Medicaid and Medicare programs, incentives by govt. to medical devices, pharma companies and biotech to benefit the market players in short and long term goals. In 2021, U.S. spent $12,318/person on healthcare- highest amongst all OECD countries followed by Germany at $7,383. The federal government commitment towards healthcare systems to enable market players expanding their revenues and mitigating the risk posed by the inflation.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Europe 3D printing in healthcare market
The 3D printing in healthcare market in Europe is expected to reach a value of USD 0.76 Bn by 2023, expanding at a compound annual growth rate (CAGR) of 21.8% during 2018-2023.
3D printing can be defined as the process of building three-dimensional solid objects from digital designs. The creation of 3D printed objects is done using various additive processes. The additive processes involves laying down successive layers of a material until the desired object is created. Each of these layers can be visualized as a thinly-sliced horizontal cross-section of the final object. 3D printing is the exact opposite of subtractive manufacturing, which involves hollowing out/carving out pieces of metal or plastic from a mass. This process opens up opportunities for the production of complex shapes using less material in comparison to traditional manufacturing methods. In the field of medicine, this procedure is used to make several objects like prosthetics and implants, using several materials like metal, plastic, etc.
Europe has the most significant share of the 3D printing in healthcare market.
The market can be classified into three primary segments, based on technology, material, and type.
Based on region, the market is segmented into the European Union five (EU5) and the rest of Europe
Based on technology, the market can be segmented into laser beam melting (LBM), electron beam melting (LBM), photopolymerization, droplet deposition, laminated object manufacturing, and others.
Based on material, the sub-segments are plastic, metal, ceramic and others.
Based on type, the sub-segments include prosthetics, implants, surgical guides, hearing aid and others.
Key growth factors
Europe has strong and stable research and development infrastructure and with top-notch research in healthcare-related additive manufacturing along with a pool of educational institutions to provide relevant training for skill development.
In Europe, Germany has the highest incidences of self-reported hearing loss. The adoption rate of hearing aids by these people is 76%. Thus, there lies a huge unmet demand for hearing aids in the market. Since almost all hearing aids are 3D printed, the market in the European region is expected to grow positively. The situation is the same for dental implants. With an increasing number of procedures for dental implants, the need for customized procedures has risen.
Threats and key players
Most of the traditional manufacturing companies, which prefer doing things the old way, do not find it feasible to experiment with new technologies like 3D printing. Also, they do not research adequately in emerging use cases in the market, and this is inhibiting the faster penetration of the technology in the European region.
The key players are Stratasys Ltd., 3D Systems, Organovo, Renishaw and Formlabs.
What is covered in the report?
1. Overview of the 3D printing in healthcare in Europe.
2. Market drivers and challenges in the 3D printing in healthcare in Europe.
3. Market trends in the 3D printing in healthcare in Europe.
4. Historical, current and forecasted market size data for the 3D printing in healthcare market in Europe.
5. Historical, current and forecasted market size data for the technology segment (laser beam melting (LBM), electron beam melting (EBM), photopolymerization, droplet deposition, laminated object manufacturing and others).
6. Historical, current and forecasted market size data for the material segment (plastic, metal, ceramic and others).
7. Historical, current and forecasted market size data for the type segment (prosthetics, implants, surgical guides, hearing aid and others).
8. Historical, current and forecasted regional (the European Union five (EU5), rest of Europe) market size data for 3D printing in healthcare market.
9. Analysis of 3D printing in healthcare market in Europe by value chain.
10. Analysis of the competitive landscape and profiles of major competitors operating in the market.
1. Understand the demand for 3D printing in healthcare to determine the viability of the market.
2. Identify the developed and emerging markets for 3D printing in healthcare.
3. Identify the challenges and address them.
4. Develop strategies based on the drivers, trends and highlights for each of the segments.
5. Evaluate the value chain to determine the workflow.
6. Recognize the key competitors of this market and respond accordingly.
7. Knowledge of the initiatives and growth strategies taken by the major companies and decide on the direction of further growth.
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The Market report answers the following questions:
What is the aim of the report?
- The market report presents the estimated market size of Europe 3D Printing in Healthcare Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
- The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
- The various parameters accelerating the growth of Market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the Market during the forecast period.
What aspects regarding the regional analysis Market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
- The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
- The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in the Market including Key Playes
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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