According to the American Society for Testing and Materials (ASTM), “additive manufacturing” is the “process of joining materials to make objects from 3D model data, usually layer upon layer”. Various synonyms generally used for AM are an additive fabrication, additive processes, additive techniques, additive layer manufacturing, layer manufacturing, and freeform fabrication.
The Additive Manufacturing Market is expected to grow at a CAGR of 13.5% to reach $3,471.9 million
Technological innovations in 3d printing have been witnessed over the past few years. Newer surgical products manufactured from AM, with better safety and efficacy attributes, contribute to the widespread adoption of the additive manufacturing in medical by physicians and patients worldwide.
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Global 3D Printing Market, by industry
- Automotives
- Consumer products
- Business machines
- Medical
- Academic
- Aerospace
- Government/military
Automotive or motor vehicles account for the largest share in this market, primarily due to the easy applications of 3D printing in the production of end-products (engines, spare parts, other interior, and exterior parts) as compared to other segments such as consumer products and business machines, which have limited usage in manufacturing of end-products. Rising healthcare expenditure in emerging economies provides growth opportunities for AM technologies, as new healthcare facilities have come up in these areas.
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Global 3D Printing Market, by industry
- Automotives
- Consumer products
- Business machines
- Medical
- Academic
- Aerospace
- Government/military
Automotive or motor vehicles account for the largest share in this market, primarily due to the easy applications of 3D printing in the production of end-products (engines, spare parts, other interior, and exterior parts) as compared to other segments such as consumer products and business machines, which have limited usage in manufacturing of end-products. Rising healthcare expenditure in emerging economies provides growth opportunities for AM technologies, as new healthcare facilities have come up in these areas.
The penetration rate of additive manufacturing for the medical devices market is faltering in emerging markets. However, established companies and new entrants in the additive manufacturing for medical devices market should consider these GDP growth rates, ease of product approval, increasing procedural volumes, and low penetration rates compared to mature markets, as the driving opportunistic factors that will plant the seed for future possible success for such companies.
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Geographical Analysis of Additive Manufacturing Market:
Europe accounts for the largest market share of the global additive manufacturing for medical devices market, followed by North America. In the future, it is estimated that the share of the European region will decrease, attributable to lowering device prices, regulatory pressures, and increasing focus of players towards emerging markets in the Asian and Latin American regions.
Major Key Players in Additive Manufacturing Market:
The key players in this market are 3D Systems Corporation (U.S.), 3T RPD (U.K.), Arcam AB (Sweden), Biomedical Modeling, Inc. (U.S.), Envisiontec GmbH (Germany), EOS GmbH Electro Optical Systems (Germany), Fcubic AB (Sweden), GPI Prototype and Manufacturing Services, Inc. (U.S.), Greatbatch, Inc. (U.S.), Layerwise NV (Belgium), Limacorporate SPA (Italy), Materialise NV (Belgium), Medical Modeling, Inc. (U.S.), and others.
