Feb 3, 2021   SOURCE: PR NewsWire

Healthcare Additive Manufacturing Market Size Worth $6.4 Billion By 2028: Grand View Research, Inc.

SAN FRANCISCO, Feb. 3, 2021 /PRNewswire/ -- The global healthcare additive manufacturing market size is expected to be valued at USD 6.4 billion by 2028 and is anticipated to grow at a CAGR of 21.8% from 2021 to 2028, according to a new report by Grand View Research, Inc. Easy development of customized products, reduction in manufacturing cost due to technological advancements, and possibilities of using various material for printing are propelling the market growth.

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Key suggestions from the report:

    --  Laser sintering accounted for the largest market share of 31.0% in 2020
        as it uses a wide variety of materials to make high-quality, complex
        geometries and can produce several pieces at one time
    --  The polymers material segment accounted for the largest revenue share of
        more than 50% in 2020, as polymer-based AM has been used for decades in
        creating medical instruments as well as prosthetic limbs & related
        accessories
    --  North America led the market in 2020 and accounted for the largest share
        of more than 35% due to the presence of several additive manufacturing
        companies with a robust distribution network
    --  Asia Pacific is projected to be the fastest-growing regional market over
        the forecast period due to significant demand for dental 3D printing as
        a result of an increasing number of people undergoing tooth replacement
        surgeries.

Read 114 page research report with ToC on "Healthcare Additive Manufacturing Market Size, Share & Trends Analysis Report By Technology (Laser Sintering, Deposition Modeling), By Application (Medical Implants, Wearable Devices), By Material, And Segment Forecasts, 2021 - 2028" at: https://www.grandviewresearch.com/industry-analysis/healthcare-additive-manufacturing-market

The growing success of additive manufacturing is due to its benefits over conventional manufacturing methods. Some of the benefits include the application of advanced technology; use of a wide range of materials like metal, plastics, and polymers; flexibility in design; build speed; dimensional accuracy; and its ability to produce complex parts/geometry, such as cooling channels and honeycomb structure. Production of implants and prosthetics is the largest application for additive manufacturing in the healthcare industry.

There is an increasing demand for orthopedic procedures, such as knee & hip replacements, due to the increasing geriatric population. Moreover, the increasing application of dental implants along with a growing need for prosthetics is another key factor expected to drive the market. North America and Europe were the leading regional markets in 2020. This growth was attributed to extensive R&D, advanced healthcare system, and the presence of leading 3D printing machinery manufacturers & material suppliers in these regions.

Additive manufacturing is playing a significant role in the fight against COVID-19 by compensating for the shortage of medical supplies by speeding up the manufacturing process. This will drive the growth of the market over the forecast period. However, stringent regulatory approvals associated with medical devices might hinder the growth.

Grand View Research has segmented the global healthcare additive manufacturing market on the basis of technology, application, material, and region:

    --  Healthcare Additive Manufacturing Technology Outlook (Revenue, USD
        Million, 2016 - 2028)
        --  Stereolithography
        --  Deposition Modeling
        --  Electron Beam Melting
        --  Laser Sintering
        --  Jetting Technology
        --  Laminated Object Manufacturing
        --  Others
    --  Healthcare Additive Manufacturing Application Outlook (Revenue, USD
        Million, 2016 - 2028)
        --  Medical Implants
        --  Prosthetics
        --  Wearable Devices
        --  Tissue Engineering
        --  Others
    --  Healthcare Additive Manufacturing Material Outlook (Revenue, USD
        Million, 2016 - 28)
        --  Metals & Alloys
        --  Polymers
        --  Biological Cells
        --  Others
    --  Healthcare Additive Manufacturing Regional Outlook (Revenue, USD
        Million, 2016 - 2028)
        --  North America
            --  U.S.
            --  Canada
        --  Europe
            --  U.K.
            --  Germany
            --  Spain
            --  France
            --  Italy
        --  Asia Pacific
            --  China
            --  India
            --  Japan
            --  Australia
            --  South Korea
        --  Latin America
            --  Brazil
            --  Mexico
            --  Argentina
            --  Colombia
        --  Middle East & Africa
            --  South Africa
            --  Saudi Arabia
            --  UAE

List of Key Players of Healthcare Additive Manufacturing Market

    --  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.

Find more research reports on Medical Devices Industry, by Grand View Research:

    --  3D Printing Market - The global 3D printing market size was valued at
        USD 11.58 billion in 2019 and is expected to expand at a CAGR exceeding
        14% from 2020 to 2027. Globally, 1.42 million units of 3D printers were
        shipped in 2018 and this number is expected to reach 8.04 million units
        by 2027.
    --  Restorative Dentistry Market - The global restorative dentistry market
        size was valued at USD 14.59 billion in 2016 and is expected to grow at
        a CAGR of 6.7% during the forecast period.
    --  Prosthetics And Orthotics Market - The global prosthetics and orthotics
        market size was estimated at USD 5.9 billion in 2019 and is expected to
        exhibit a CAGR of 4.6% during the forecast period.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc.