Healthcare Additive Manufacturing Market expected to Witness Huge Revenue Growth to 2031

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Healthcare Additive Manufacturing Market- (By Technology (Stereolithography, Deposition Modeling, Electron Beam Melting, Laser Sintering, Jetting Technology, Laminated Object Manufacturing, Others), By Application (Medical Implants, Prosthetics, Wearable Devices, Tissue Engineering, Dental), By Material (Metals and Alloys, Steel, Titanium, Polymers, Nylon, Glass-filled Polyamide, Epoxy Resins, Photopolymers, Plastics, Biological Cells, Others)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Healthcare Additive Manufacturing Market is valued at US$ 7.31 Bn in 2022, and it is expected to reach US$ 30.25 Bn by 2031, with a CAGR of 17.3% during a forecast period of 2023-2031.

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Healthcare additive manufacturing, often known as medical 3D printing, produces artificial human tissues, organs, and other medical structures via computer-aided design software and additive manufacturing processes. The 3D printer receives the digital model and then builds the thing by adding successive layers of material. Due to the increased incidence of persistent illness and the accompanying rise in surgical procedures, the healthcare industry is experiencing high demand and unmet needs likely to drive market expansion throughout the forecast period.

Future healthcare additive manufacturing market growth will be accelerated by sustained economic expansion and the introduction of the latest orthopaedic wares. The introduction of novel orthopaedic products and sustained economic growth indicate the healthcare additive manufacturing market's future growth. There is also a shortage of trained personnel to run these machines. These issues hinder the development of the market. The development of regulations grows the market demand for healthcare additive manufacturing, developing cutting-edge technologies and ultimately increasing competition, thereby boosting the market growth.

List of Prominent Players in the Healthcare Additive Manufacturing Market:
• 3D Systems, Inc.
• EnvisionTEC
• RegenHU; Allevi, Inc.
• EOS GmbH
• Materialise N.V
• Stratasys Ltd.
• Nanoscribe GmbH
• GPI Prototype
• Manufacturing Services LLC
• 3T Additive Manufacturing Ltd.
• Fathom Manufacturing
• General Electric

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Market Dynamics:

Drivers-
Growing demand for healthcare additive manufacturing owing to their rising disposable income, evolving consumer preferences, and the availability of cheaper generic alternatives, etc., is a key factor likely to grow the target market. Increasing healthcare spending contributes to the sector's infrastructural development. The healthcare additive manufacturing market will grow due to advances in healthcare technology, increased public and private sector efforts to raise awareness, and rising government funding. The growth rate of the healthcare additive manufacturing market will also be influenced favourably by other variables, such as innovation in high-tech fields, manufacturing of medical implants quickly, and factors expected to augment the growth of the healthcare additive manufacturing market globally.

Challenges:
The prime challenge is a lack of awareness and high cost and shortage of qualified workers because of lockdowns and isolation in emerging countries, which is predicted to slow down the growth of the healthcare additive manufacturing market. However, the expensiveness of additive manufacturing. When considering the cost per unit, the additive is still a costly alternative due to the high initial investment required for the machinery and the time it takes to complete a single build. Additive manufacturing prices can be divided into four groups: raw materials, labour, tooling, and finishing. The high price of additive manufacturing is one of the primary challenges facing the market for this technology. The medication's associated negative effects will also hamper the overall growth of the healthcare additive manufacturing market over the coming years.

Regional Trends:
The North American healthcare additive manufacturing market is anticipated to register a major market share in revenue. It is projected to grow at a high CAGR in the near future because of advanced medical facilities, increasing numbers of older adults, sufficient disposable income, robust public backing for high-quality healthcare, and receptive reimbursement rules. Furthermore, Products created with additive manufacturing are gaining popularity due to government initiatives promoting R&D in the relevant industry, accelerating market growth.

Besides, Europe had a considerable share in the market due to its developed economy, lower costs, competent workforce, rapidly expanding healthcare infrastructure, increased prevalence of arthritis, promising economic development, and the huge unmet medical needs of a vast population pool. This is due to the adoption of innovative methods by the major players in the healthcare additive manufacturing market. Moreover, the existance of key market players and the growing cooperation between major players for market penetration in the area enables an opportunity to grow the global healthcare additive manufacturing market.

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Recent Developments:

• In April 2023, Stratasys has effectively enhanced the production volumes and profitability of additive manufacturing with the implementation of its latest software, GrabCAD Print Pro. The GrabCAD Print programme managed the print preparation procedure for Stratasys 3D printers. The newly developed Pro version was specifically tailored to cater to manufacturers' requirements to optimise the production of end-use components and transition towards larger-scale manufacturing capacities. The primary objective of its design was to enhance the precision of printed parts, minimise material wastage, and decrease the time required for part production.

• In Nov 2021, 3D Systems announced an array of innovations that increased customer success and stimulated industries. The company introduced high-throughput 3D printing technologies, formed a new partnership to offer industry-leading post-processing, enhanced additive manufacturing software, and developed a new production-grade photopolymer. By combining these cutting-edge innovations with the expertise of its Application Innovation Group, 3D Systems assisted its customers in overcoming limitations and advancing additive manufacturing (AM) performance and productivity in the healthcare and industrial markets.

Segmentation of Healthcare Additive Manufacturing Market-
By Technology -
• Stereolithography
• Deposition Modeling
• Electron Beam Melting
• Laser Sintering
• Jetting Technology
• Laminated Object Manufacturing
• Others
By Application -
• Medical Implants
• Prosthetics
• Wearable Devices
• Tissue Engineering
• Dental
By Material -
• Metals and Alloys
• Steel
• Titanium
• Polymers
• Nylon
• Glass-filled Polyamide
• Epoxy Resins
• Photopolymers
• Plastics
• Biological Cells
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

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