Additive Manufacturing Market Growth Opportunity and Industry Forecast

New and improved technologies, financial support from governments, large application area, rapid product development at a low cost, and ease of development of custom products are the major drivers that are slated to propel the additive manufacturing market.

According to the new market research report “Global Additive Manufacturing Market By Application (Medical Devices, Automotives, & Aerospace) and Technology (3D Printing, Laser Sintering, Stereolithography, Fused Deposition Modeling, Electron Beam Melting, & Tissue Engineering)”, published by MarketsandMarkets™

Traditionally additive manufacturing in the medical field was considered as a technique for the production of prototypes or model.

The Additive Manufacturing Market is expected to grow at a CAGR of 13.5%, to reach $3,471.9 million.

Additive manufacturing (AM) is an automatic process used to create rapid prototypes and functional end-use parts. It takes virtual designs from Computer Aided Design (CAD) software, and transforms them into thin, virtual, horizontal layer-wise cross-sections, until the model is complete. Various synonyms generally used for AM are additive fabrication, additive processes, additive techniques, additive layer manufacturing, layer manufacturing, and freeform fabrication.

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The global additive manufacturing for medical devices market is fragmented into different categories based on its materials, products, application, and technology.

The materials segment comprises of homogeneous and heterogeneous, whereas, the product category includes surgical equipment, prosthetics & implants, and tissue engineering. The global additive manufacturing for medical devices market, by technology, comprises of electron beam melting, laser beam melting, photopolymerization, Droplet Deposition (DD) or Extrusion-based technologies, and Three Dimensional Printing (3DP) or Adhesion Bonding, while the application segment includes, orthopedic, dental, cranio-maxillofacial, and bio-engineering.

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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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Europe accounts for the largest market share of the global additive manufacturing for medical devices market in 2012, 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.

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.