Healthcare Additive Manufacturing Market Top Companies Study - 3D Systems, Inc., EnvisionTEC, RegenHU; Allevi, Inc., EOS GmbH.

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, also referred to as medical 3D printing, involves the creation of artificial human tissues, organs, and other medical structures through computer-aided design (CAD) software and additive manufacturing techniques. The process begins with the digital model, which is then translated by the 3D printer into a physical object through the successive addition of material layers. The healthcare sector is currently experiencing a surge in demand, driven by the rising prevalence of chronic diseases and an increase in surgical procedures, creating significant opportunities for market growth during the forecast period. Future expansion of the healthcare additive manufacturing market is expected to be further accelerated by ongoing economic growth and the introduction of innovative orthopedic products. However, challenges such as a shortage of skilled personnel to operate these advanced machines present barriers to the market's full development. Additionally, the evolution of regulations and the development of cutting-edge technologies are expected to increase competition and, in turn, fuel 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:
The healthcare additive manufacturing market is poised for significant growth, driven by factors such as rising disposable incomes, evolving consumer preferences, and the availability of more affordable generic alternatives. Increased healthcare expenditure is also contributing to the development of infrastructure within the sector. The market is further supported by advancements in healthcare technology, heightened public and private sector efforts to raise awareness, and increasing government funding. Additionally, innovations in high-tech fields, the rapid production of medical implants, and other key factors are expected to stimulate global growth in the healthcare additive manufacturing market.

Challenges:
Key challenges hindering market growth include a lack of awareness, high costs, and a shortage of skilled workers, particularly in emerging economies impacted by lockdowns and isolation. Despite the potential benefits, the cost per unit of additive manufacturing remains high due to the substantial initial investment required for machinery and the time-intensive nature of the manufacturing process. The primary cost components of additive manufacturing include raw materials, labor, tooling, and finishing. This expense, along with the potential negative side effects of certain medical products, presents ongoing barriers to market expansion in the coming years.

Regional Trends:
The North American healthcare additive manufacturing market is expected to capture a substantial market share and exhibit a robust compound annual growth rate (CAGR) due to the presence of advanced medical facilities, a growing elderly population, ample disposable income, strong public support for high-quality healthcare, and favorable reimbursement policies. Furthermore, government initiatives encouraging research and development in the field of additive manufacturing are accelerating market growth in the region.

In Europe, the market has seen considerable growth due to factors such as a developed economy, cost efficiency, a skilled workforce, expanding healthcare infrastructure, and the increasing prevalence of conditions such as arthritis. The region's promising economic development and the widespread unmet medical needs of a large population further contribute to its market share. The adoption of innovative approaches by key players in the healthcare additive manufacturing market, as well as growing collaborations among these players, are facilitating market penetration and offering significant growth opportunities within the region, thereby driving global market expansion.

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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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This release was published on openPR.