Dublin, July 14, 2023 (GLOBE NEWSWIRE) -- The "Healthcare Additive Manufacturing Global Market 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global healthcare additive manufacturing market size is expected to reach USD 27.3 billion by 2030. It is expected to expand at a CAGR of 18.1% from 2023 to 2030.
Healthcare additive manufacturing technology aids in making complex designs easily, developing personalized products, reducing production steps, and producing lightweight products, which fuels market growth.
Growing commercialization of the manufacturing process, rising investments by governments, and increased R&D in devices formed using additive manufacturing technology are key factors driving this market. There was a slowdown in the growth of the market at the start of 2020 due to the COVID-19 outbreak, but the market gained pace in the second half of the year by fulfilling the growing demand for the manufacturing of medical devices, PPE kits, and face shields to fight against the pandemic.
The advantages of additive manufacturing over traditional production methods are boosting its rising popularity. The use of modern design freedom, technology, dimensional precision, the use of a wide range of materials such as plastics, metal, and polymers, build speed, and the capacity to construct complicated parts/geometry, such as honeycomb structure and cooling channels, are some of the advantages of additive manufacturing.
The rising geriatric population has led to a surge in the occurrence of orthopedic procedures such as knee and hip replacements, which has resulted in the increased demand for implants and prosthetics, leading to faster manufacturing of these products. Additive manufacturing plays a crucial role in meeting this demand. Also, it helps in the manufacturing of prosthetic devices that aid the patient to regain lost parts of limbs as well as mobility post-amputation or stroke. They also have good stiffness in regions where support is required and are flexible in regions where comfort is required.
The COVID-19 pandemic considerably impacted the market. Initially, manufacturing unit constraints caused by stay-at-home orders led to supply chain disruptions and labor shortages. However, by compensating for the paucity of medicinal supplies by speeding up the manufacturing process, additive manufacturing played a crucial role in the fight against COVID-19.
Companies Mentioned
- 3D Systems, Inc.
- EnvisionTEC
- RegenHU
- Allevi, Inc.
- EOS GmbH
- Materialise N.V.
- Stratasys Ltd.
- Nanoscribe GmbH
- GPI Prototype and Manufacturing Services, LLC
- 3T Additive Manufacturing Ltd
- Fathom Manufacturing
- General Electric
Healthcare Additive Manufacturing Market Report Highlights
- The laser sintering technology segment dominated the market with a revenue share of 30.4% in 2022. This technology produces high-quality complex geometries in less time, which, in turn, is fueling segment growth
- Based on application, the dental segment accounted for the largest revenue share of 34.1% in 2022, owing to technological advancements and a rise in demand for dental 3D-printed products
- By material, polymers accounted for the largest revenue share of 54.7% in 2022, as polymers reduce the manufacturing process costs, are flexible, and have a longer life span
- Asia Pacific is projected to register the fastest CAGR of 19.4% during the forecast period. This is due to the unmet needs of a large population and the promising economic developments in the region
- Various market players are focusing on new product launches, technological innovations, collaborations, and regional expansions as major strategic initiatives
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 105 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $7.4 Billion |
| Forecasted Market Value (USD) by 2030 | $27.3 Billion |
| Compound Annual Growth Rate | 18.1% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Healthcare Additive Manufacturing Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Market Dynamics
3.2.1. Market Driver Analysis
3.2.1.1. Demand for customized additive manufacturing
3.2.1.2. Patent Expiration
3.2.2. Market Restraint Analysis
3.2.2.1. High costs associated with Additive Manufacturing
3.2.2.2. Lack of Skilled Professionals
3.2.3. Industry Challenges
3.3. Healthcare Additive Manufacturing: Market Analysis Tools
Chapter 4. Healthcare Additive Manufacturing Market: Segment Analysis, by Technology, 2018 - 2030 (USD Million)
Chapter 5. Healthcare Additive Manufacturing Market: Segment Analysis, by Application, 2018 - 2030 (USD Million)
Chapter 6. Healthcare Additive Manufacturing Market: Segment Analysis, by Material, 2018 - 2030 (USD Million)
Chapter 7. Healthcare Additive Manufacturing Market: Regional Market Analysis, 2018 - 2030 (USD Million)
Chapter 8. Healthcare Additive Manufacturing Market - Competitive Analysis
For more information about this report visit https://www.researchandmarkets.com/r/8kb2k7
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