SAN FRANCISCO, Feb. 3, 2021
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.
Key suggestions from the report:
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:
List of Key Players of Healthcare Additive Manufacturing Market
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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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