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Industrial 3D Printing Market Opportunities, Size, Revenue, Competitive Analysis, Market Demand and Growth by 2023
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The healthcare industry is another key end user of industrial 3D printing. The industrial 3D printing technique in healthcare industry caters to the demand of personalized medical devices, prosthetics and implants. Some of the adoption of 3D printing technology in healthcare industry are 3D printed skin for burnt victims, airway splints for babies with tracheobronchomalacia, which makes the small airways around the lungs prone to damage. These are the first 3D implants made for the kids which are designed to grow with the patient. These technologies in health care industry is expected to create ample growth opportunity in this market.
The industrial 3D printing technology provides good opportunity to enhance the potential of manufacturing and supply chain management. The 3D technology helps in consolidating various components into a single product, and managing inventory complexity for industries. The industrial 3D printing technique is used to enhance productivity and reduce cost of production. However, lack of skilled labor, limitation in design tools and product size, and high cost and limited availability of materials is expected to hamper the growth of the global market. The industrial 3D printing is used for manufacturing, tooling and repairing heavy equipment, machinery and robotics in the industries such as aerospace and defense, electrical, food and beverage, jewelry and healthcare. Among different industrial 3D printing technologies, the laser metal deposition is expected to witness the fastest growth during the forecast period.
Geographically, North America is the largest market for industrial 3D printing, owing to the higher usage in aerospace and defense, industrial manufacturing, and health care companies. Also continuous technological up gradation and financial support from the government is supporting the growth of the North American market. The key growth drivers for the European market are increased initiatives by the government, extensive industrial base and high funding in research and development.
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Some of the key players in the global market are 3D Systems Corporation, Stratasys Ltd., The ExOne Company, voxeljet AG, Arcam AB, EOS Holding GmbH, EnvisionTEC GmbH, Materialise NV and Sciaky Inc.
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