CHICAGO, July 30, 2019 /PRNewswire/ -- According to the new market research report "4D Printing in Healthcare Market by Component (Equipment, 3D printer SMM, Hydrogels, Software, Service, Cells), Technology (FDM, SLS, Stereolithography), Application (Research Model, Implant), End user (Hospital, Dental Lab, ASC) - Global Forecast to 2026", published by MarketsandMarkets™, the global 4D Printing in Healthcare Market is estimated to reach USD 32 million by 2026 from USD 9 million in 2021, at a CAGR of 29.9% during the forecast period.
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Growth in this market is driven mainly by technological advancements in 3D printing technology, such as the development of smart, programmable materials. On the other hand, high development & production costs, need for compliance with regulatory & performance standards that will slow product launches, and potential safety hazards are expected to restrain the growth of this market to a certain extent.
"The software & services segment is expected to grow at the highest CAGR during the forecast period."
Based on component, the 4D Printing in Healthcare Market is segmented into equipment, programmable materials, and software & services. The software & services segment is expected to grow at the highest CAGR during the forecast period. Software has a diverse range of applications in additive manufacturing. 3D printing software is used for creating, designing, and assembling models required in the healthcare space. This software also inspects prototypes to ensure that the required specifications have been met. The file preparation software prepares STL and SLC files to develop the product design. Software required for 4D printing should fully support the 4D printing process. However, research on 4D printing software is limited as the 4D printing technology is still in the nascent stage.
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"The medical & research models segment is expected to account for the largest share of the market in 2021."
Based on application, the 4D Printing in Healthcare Market is segmented into medical & research models, surgical guides, and patient-specific implants. In 2021, the medical & research models segment is expected to account for the largest share of the 4D Printing in Healthcare Market. These models can be customized as per the patient's pathology, which will further help in delivering efficient patient care. The ability of the 4D printing technology in manufacturing smart medical models will bring significant transformation in the medical field and will support the growth of this segment in the forecast period
"North America is expected to dominate the 4D Printing in Healthcare Market in 2021."
In 2021, North America dominated the market, followed by Europe. North America is estimated to be the largest regional market for 4D printing in healthcare. This can majorly be attributed to the continuous technological advancements, growing demand for organ transplantation, efforts taken in the research & development of the 4D printing technology in the healthcare sector, and the presence of highly developed healthcare infrastructure in the region.
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The prominent players in the market are 3D Systems (US), Organovo Holdings Inc. (US), Stratasys Ltd. (US and Israel), Dassault Systèmes (France), Materialise (Belgium), EOS GmbH Electro Optical Systems (Germany), EnvisionTEC (Germany), and Poietis (France).
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