Market Trends of North America Healthcare 3D Printing Industry
Polymers are Expected to Register High Growth in the Market Over the Forecast Period
Polymer 3D printing is an emerging technology, and various research has increased its use in industry, especially in the medical field. Polymer printing is advantageous because functional parts with different properties and functions can be printed inexpensively. The commercially available polymers for 3D printing in healthcare include acrylonitrile butadiene styrene (ABS), polylactic acid (PLA), polycarbonate (PC), poly ether ester ketone (PEEK), polyetherimide (ULTEM) and thermoplastic elastomers (TPE).
The widespread usage of polymer 3D printing solutions for student education, physician education, and medical device research is expected to have significant growth in the segment over the study period. For instance, in February 2022, Stratasys Ltd, a company in polymer 3D printing solutions, announced that it is sponsoring the University of Minnesota Visible Heart Laboratories with a donation of Stratasys J750 Digital Anatomy 3D printers, MakerBot METHOD X printers, and MakerBot SKETCH 3D printers for education and research. These devices use polymers for 3D printing, and hence, the donation increases the need for polymers, which are likely to propel the segment over the study period.
The new partnerships and acquisitions among the market players are expected to increase the widespread applications of polymers in healthcare 3D printing. For instance,
- In August 2022, Covestro signed an agreement to sell its Additive Manufacturing Business to Stratasys. The business provides material solutions for common polymer 3D printing processes. Covestro's divested business includes employees, research and development facilities, production assets, and offices in the United States.
- In February 2022, 3D Systems agreed to acquire Kumovis, an additive manufacturing solutions provider for personalized healthcare applications. Kumovis' solutions are built upon their extrusion technology, specifically developed for precision printing of medical-grade, high-performance polymers such as PEEK (polyether ether ketone). With this acquisition, 3D Systems added an extrusion technology to its extensive polymer printing healthcare portfolio. This allows the company to expand its addressable market for personalized healthcare applications, which is expected to have a significant impact on the market over the forecast period.
Hence, owing to the above-mentioned factors, such as new sponsoring and company strategies, such as approvals and launches of polymers, the segment is believed to grow significantly during the forecast period.
United States is Expected to Have Significant Growth in the Market Over the Forecast Period
Due to their extensive potential for several applications in the healthcare industry, polymers and their composites are among the most frequently utilized materials in additive manufacturing. For many years, polymer-based additive manufacturing has been used to make components for prosthetic limbs and medical equipment.
There has been a significant increase in surgical procedures in recent years in the United States due to the rising prevalence of chronic disease. In addition to using 3D-printed anatomic models to achieve a more accurate perception of the patient's anatomy, these models are also used to perform mock surgeries pre-operatively as per the patient’s anatomy. Thus, an increase in the number of surgeries is likely to create a demand for additive manufacturing in the United States, leading to market growth over the forecast period.
For instance, according to the article update published in January 2023 in the National Library of Medicine, more than 1,000,000 cardiac catheterization procedures are performed annually in the United States1. Cardiovascular applications of additive manufacturing development include adopting patient-specific 3D models for valve surgery, vessel function, and surgical and catheter-based procedural planning. Thus, owing to the increase in catheterization procedures in the United States, the demand for additive manufacturing is likely to rise, fueling market growth over the forecast period.
The new partnerships and acquisitions among the market players are expected to increase the widespread applications of polymers in healthcare 3D printing. For instance,
- In August 2022, Covestro signed a definitive agreement to sell its Additive Manufacturing Business to Stratasys. The business provides material solutions for common polymer 3D printing processes. Covestro's divested business includes employees, research and development facilities, production assets, and offices in the United States.
- In February 2022, 3D Systems agreed to acquire Kumovis, an additive manufacturing solutions provider for personalized healthcare applications. Kumovis' solutions are built upon their extrusion technology, specifically developed for precision printing of medical-grade, high-performance polymers such as PEEK (polyether ether ketone). With this acquisition, 3D Systems added an extrusion technology to its extensive polymer printing healthcare portfolio, allowing it to expand its addressable market for personalized healthcare applications. It is expected to significantly impact the market over the forecast period.
Hence, due to the increase in surgical procedures, the rise in adoption of 3D printed products in healthcare, and the presence of major market players coupled with their strategic activities, such as product launches, the studied market is expected to witness notable growth in the United States.
