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

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Feb 03, 2021, 04:05 ET

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:

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.