Published Date : 10 Nov 2022
The global healthcare additive manufacturing market size accounted for USD 2.01 billion in 2022 and is expected to be worth around USD 9.87 billion by 2030 with a registered CAGR of 22% from 2022 to 2030.
Additive manufacturing is the process of joining materials used to make objects from 3D model data usually layer by layer. This manufacturing process has the capability to develop complex medical parts and components at a cost-efficient range. Because of this, the Healthcare Additive Manufacturing Market is expected to grow significantly during the forecast period.
Healthcare Additive Manufacturing Market Report Scope
|Market Size In 2022||USD 2.01 Billion|
|Market Size By 2030||USD 9.87 Billion|
|Growth Rate from 2022 to 2030||
CAGR of 22%
|Forecast Period||2022 to 2030|
The surge in the need for customized medical products is the primary factor that drives the market growth. Also, the increase in the number of surgeries across the globe is anticipated to boost the growth of the healthcare Additive Manufacturing Market. For instance, on 6th May 2021, 3D systems announced the acquisition of two firms Allevi, Inc. and German software firm, Additive Works GmbH to address rapidly expanding application opportunities for additive manufacturing (AM) in medical and high-reliability industrial applications. This development is estimated to drive the growth of the Healthcare Additive Manufacturing Market.
The major restraining factor that will negatively impact the growth of the Healthcare Additive Manufacturing Market includes the high price involved in setting up the infrastructure for additive manufacturing.
The introduction of advanced technologies in the healthcare industry in order to produce complex designs will find huge opportunities in the growth of the Healthcare Additive Manufacturing Market.
The high cost involved in the development of the additive manufacturing processes will be a major challenge that will hinder the growth of the Healthcare Additive Manufacturing Market.
North America leads the Healthcare Additive Manufacturing Market contributing a revenue share of more than 36% in 2020 owing to the presence of major market players in the region and the favorable Government regulations that drive the market growth. For instance, on 4th May 2021, 3D Systems announced that it will extend its industrial application development capabilities and add 50,000 square feet of facility space in Denver, Colorado to serve its fast-growing healthcare solutions business (AIG). This activity will concentrate on the company's strategic goal of allowing additive manufacturing solutions for applications in growing sectors that require high-reliability products.
Key Players in the Report
The global Healthcare Additive Manufacturing Market is characterized by the presence of various small and big players. The major market player GE Additive (General Electric); 3D Systems Inc.; EnvisionTEC GmbH; RegenHU; Allevi Inc.; EOS GmbH (Electro Optical Systems); Materialise N.V.; Stratasys Ltd.; Nanoscribe GmbH; GPI Prototype and Manufacturing Services LLC.
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