Healthcare Additive Manufacturing Market: Rising Demand for Personalized Medical Devices to Drive the Market
Global Healthcare Additive Manufacturing Market: Overview
The global healthcare additive manufacturing market is growing due to the rising demand for personalized medical devices, such as implants, and the advent of sophisticated technology to manufacture a variety of products with complex and simple designs. Additive manufacturing is widely known as the next big thing after industrial revolution in the manufacturing sector. It comes with the ability to offer cost-effective process for extracting complex and personalized medical components and parts.
Tissues, muscles, orthopaedic and cranial implants, dental prosthetics, and other personalized medical pieces are just a few examples. Unmet needs and high demand in the healthcare sector, which have been identified due to an increase in the number of surgical interventions. In addition to that, the rising prevalence of chronic disorders is expected to support progress of the global healthcare additive manufacturing market over the assessment tenure.
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Additive manufacturing enables the production of more intricate designs that would be impossible or prohibitively costly to produce using conventional machines, dies, milling, and moulds. It is also perfect for prototyping quickly. It allows for a more complex and design-driven workflow. Additive manufacturing is suitable for rapidly creating prototypes utilizing 3D CAD, as it avoids the time-consuming process and exorbitant prices involved with conventional prototyping.
Transparency market research offers a comprehensive understanding of the global healthcare additive manufacturing market through this report. It offers well-researched data on various facets of the market to offer valuable business input for profit generation.
Global Healthcare Additive Manufacturing Market: Notable Developments
In October 2018, for example, 3D Systems, Inc. entered into a collaboration with Amann Girrbach. This partnership aims to broaden 3D Systems' product offering, which includes digital milling, CAD/CAM software, dental-optimized 3D printing, and test equipment of Amann Girrbach.
The noted players that are operational in the global healthcare additive manufacturing market are EOS GmbH (Electro Optical Systems), GPI Prototype and Manufacturing Services, LLC, EnvisionTEC GmbH, Nanoscribe GmbH, 3D Systems, Inc., and Materialise N.V.
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Global Healthcare Additive Manufacturing Market: Key Trends
Below-mentioned market trends and opportunities mark the global Healthcare Additive Manufacturing Market:
Potential to Provide Low-cost Methods to Make Personalized and Complicated Medical Parts to Boost Market
Additive manufacturing, also known as 3D printing, is the next technological revolution in manufacturing. It has a great deal of potential for providing low-cost methods to make complicated and personalized medical components and parts.
Since customized structures are more convenient for patients, the demand for individually tailored additive manufacturing is quite high. Furthermore, patent expiration is likely to result in the loss of certain companies' monopolistic influence over the industry, thereby making additive manufacturing items more attractive in the market. This is also likely to improve the product quality. These factors are likely to add to the expansion of the global healthcare additive manufacturing market in the near future.
Nevertheless, the price of additive manufacturing remains strong, thereby posing a financial barrier for underdeveloped and developing countries. In addition to that, there is a dearth of qualified personnel to operate these machines. These factors are likely to stifle business expansion.
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Global Healthcare Additive Manufacturing Market: Geographical Analysis
North America is likely to emerge as one of the leading regions in the global healthcare additive manufacturing market, and this trend is expected to continue in the years to come. This is due to the presence of major businesses in the region, such as Stratasys Ltd., 3D Systems, Inc., GE Additive, and others, as well as a strong distribution network. The regulatory environment in the U. S. is also assisting in the expansion of the market. Due to factors such as significant unmet medical requirements of a huge population pool and economic development, notably in India and China, Asia Pacific is expected to be one of the rapidly growing regions in the market.
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