According to a new report by MarketsandMarkets, the global market for Additive Manufacturing market is expected to grow from $1,843.2 million in 2012 to $3,471.9 million by 201, thanks to a compound annual growth rate of 13.5% from 2012 to 2017.
This report is mainly focusing on medical applications of additive manufacturing. Within the medical industry, additive manufacturing is used in making end-products such as surgical equipment, prosthetics & implants, and scaffolds. The market is growing due to the rising incidence of surgeries, coupled with increasing awareness and advances in technology. Surgical equipment accounts for the largest share in this market due to their wide applicability.
Europe accounts for the largest market share of the global additive manufacturing for medical devices market in 2012, followed by North America. However, adoption of novel additive manufacturing technologies in the medical field is gaining momentum at a fast pace in emerging nations due to growing educational and awareness efforts of industry players among physicians and patients. Moreover, increasing healthcare expenditure, growing income levels, low cost of manufacturing, rapid product development, growing surgical procedures in lieu with medical tourism, and lesser competition than mature countries, have amplified interest of market players in emerging markets, thus lowering Europe’s share in favour of the Asian and Latin American regions.
The study segments the market by Application (Medical Devices, Automotive, & Aerospace) and by Technology (3D Printing, Laser Sintering, Stereolithography, Fused Deposition Modeling, Electron Beam Melting, & Tissue Engineering), and identifies major market drivers, restraints, and opportunities in North America, Europe, Asia, and the rest of the world, specifically in additive manufacturing for the medical devices market over the period from 2012 to 2017.
New and improved technologies, financial support from governments, large application area, rapid product development at a low cost, and ease of development of custom products are the major drivers that are slated to propel this market. However, a few pivotal factors restraining the growth of this market are regulatory hurdles in different countries, material characterization during development, and process control and understanding.
The key players in this market are 3D Systems Corporation (U.S.), 3T RPD (U.K.), Arcam AB (Sweden), Biomedical Modeling, Inc. (U.S.), Envisiontec GmbH (Germany), EOS GmbH Electro Optical Systems (Germany), Fcubic AB (Sweden), GPI Prototype and Manufacturing Services, Inc. (U.S.), Greatbatch, Inc. (U.S.), Layerwise NV (Belgium), Limacorporate SPA (Italy), Materialise NV (Belgium), Medical Modeling, Inc. (U.S.), and others.
The price is US $ 4.650.