Global Additive Manufacturing Market report endows with statistics on the current state of the industry and hence works as a valuable source of guidance and direction for companies and investors interested in this market. To have finest market insights and knowhow of the most excellent market opportunities into the specific markets, this market research report is an ideal option. The report proves to be a thorough synopsis on the study, analysis and estimation of the market and how it is affecting the Healthcare industry. Besides, A research report, marketing administration has carefully considered the minds of their target markets, their feelings, their preferences, their attitudes, convictions and value systems with a formalized and managerial approach. For the accomplishment of business at local, regional and international level, this high quality global market research is an ultimate solution. The research studies accomplished in the world class A business report helps to guess several important aspects that includes but are not limited to investment in a rising market, success of a new product, and expansion of market share.
Data Bridge Market Research analyses that the additive manufacturing market was valued at USD 15.27 billion in 2021 and is expected to reach USD 104.98 billion by 2029, registering a CAGR of 27.25% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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The market for additive manufacturing is estimated to increase rapidly over the forecast period. In comparison to traditional manufacturing methods including injection molding, CNC machining, and vacuum casting, additive manufacturing provides various advantages, such as a lower resource demand, a shorter production cycle, flexible design, and significant tooling cost savings. The market is finally moving into production after more than 25 years of development. Businesses across the value chain in various industries will attempt to capitalize on this fast-paced market over the projected period. Different metals with diverse beneficial qualities, such as titanium, steel, nickel, aluminium, and cobalt alloys, are utilized to produce high-performance parts, particularly in the aerospace industry.
3D printing, also known as additive manufacturing, is a revolutionary technique to industrial production that allows for the creation of lighter, stronger parts and systems. Because it uses computer-aided design (CAD) software or 3D object scanners to command the hardware to deposit material, layer by layer, in precise geometric patterns, additive manufacturing can provide digital flexibility and efficiency to manufacturing operations.
Additive Manufacturing Market Dynamics
Reduced production cost for rapid manufacturing
Because additive manufacturing technologies have lower production costs than traditional manufacturing processes, they can be cost-effective. Fixed costs are exclusively attributed to a single component design in traditional manufacturing technologies. There are some fixed expenses associated with additive manufacturing, but these costs can be more easily compensated by the number of diverse items that can be created in a single batch. As a result, additive manufacturing is more cost-effective than traditional manufacturing, which is one of the primary drivers driving market revenue growth.
Ease of manufacturing complex design
When compared to other traditional manufacturing processes, the fundamental physical difference in how items are manufactured with the additive manufacturing process generates several key functional distinctions. The capacity of additive manufacturing to build complicated geometries that would be difficult or impossible to achieve using traditional manufacturing processes is the most significant of these functional changes. These complex geometries are also more durable and lighter than standard geometries. The ability of additive manufacturing to construct complicated geometries more easily than conventional production technologies has fueled its growth.
Furthermore, the development of new and improved technologies and materials will be a major factor influencing the growth of the additive manufacturing market. Along with this, increasing urbanization and rising level of government funding are the driving factors accelerating the growth of the additive manufacturing market. Also, the increasing expenditure on healthcare infrastructure is the major market drivers that will further escalate the growth of additive manufacturing market. Other significant factors that will cushion the additive manufacturing market’s growth rate are the customization of products and bulk production.
Development of new supply chain models
Moreover, the rising development of new supply chain models will provide beneficial opportunities for growth in additive manufacturing. Along with this, the expiry of key patents will influence the market’s growth rate by creating various market opportunities in coming years.
Moreover, growing number of strong mergers and acquisitions and increase in the number of emerging markets will further provide beneficial opportunities for the additive manufacturing market growth during the forecast period.
Restraints/Challenges Global Additive Manufacturing Market
The dearth of software efficiency
However, dearth of software efficiency will impede the additive manufacturing market’s growth rate. The entire process of customer-specific additive manufacturing is primarily manual, and this manual labour is justifiable to some extent in early Additive Manufacturing use cases (AM). It was not essential to tightly integrate the 3D printer into supporting software solutions in prototype because the number of components produced was small and there was little need for comprehensive data collection.
Some of the major players operating in the additive manufacturing market 3D Systems, Inc. (U.S.), Stratasys (U.S.), ExOne (U.S.), ENVISIONTEC US LLC (Germany), Materialise (Belgium), MCor Technologies Ltd. (Ireland), Biomedical Modeling Inc. (US), EOS Systems Inc. (US), Integer Holdings Corporation (US), Fathom Digital (US), Surgival (Spain), SLM Solutions (Germany), Xilloc Medical B.V. (Netherlands), Dentsply Sirona (US), Renishaw plc (UK), Morris Technology (US), and Limacorporate S.p.a (Italy), among others.
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COVID-19 Impact on Additive Manufacturing Market
The growth of the additive manufacturing market had been hampered by COVID-19. Previously, factories were forced to close briefly owing to global lockdowns to prevent the spread of the coronavirus. Companies redesigned their manufacturing methods and embraced contemporary production techniques during the lockdown, and after the lockdown ended, they began rearranging their business strategies and investing in nations that were predicted to grow faster. New businesses in a variety of industries have begun to use additive manufacturing technologies on a large scale to manufacture a variety of products. Governments in several nations are assisting businesses who are using contemporary technology for long-term growth and improved infrastructure by offering subsidies and allocating significant funds to this goal in their budgets. Rising demand for additive manufacturing from the healthcare, automotive, and military sectors is likely to fuel market revenue growth during the forecast period.
In April 2021, EnvisionTEC stated that a clinical trial of the EnvisionTEC 3D printed Nasopharyngeal (NP) Swabs for COVID-19 testing had been completed. EnvisionTEC, along with a large number of its Envision One cDLM clients who have also registered with the FDA to participate in this endeavour, has the capacity to generate up to a million of the vitally needed swabs every day.
Global Additive Manufacturing Market Scope
The additive manufacturing market is segmented on the basis of material, material type, technology and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
On the basis of material, the additive manufacturing market is segmented into plastic, metals and ceramics.
On the basis of material type, the additive manufacturing market is segmented into homogeneous materials and heterogeneous materials.
Fused Deposition Modeling
On the basis of technology, the additive manufacturing market is segmented into stereolithography, fused deposition modeling, laser sintering and other technologies.
Aerospace and Defense
Other End Users
On the basis of end user, the additive manufacturing market is segmented into aerospace and defense, automotive, healthcare, industrial and other end users.
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Additive Manufacturing Market Regional Analysis/Insights
The additive manufacturing market is analysed and market size insights and trends are provided by country, material, material type, technology and end user as referenced above.
The countries covered in the additive manufacturing market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the additive manufacturing market because of major key players and high healthcare expenditure in this region. Additionally, the growing acceptance of technologically advanced medical devices will flourish the market’s growth rate in this region.
Asia-Pacific is expected to grow during the forecast period due to rising growth in the manufacturing sector in this region. Along with this, increasing demand for lightweight and high-strength components with precise designs will flourish the market’s growth rate in this region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The additive manufacturing market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for additive manufacturing market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the additive manufacturing market. The data is available for historic period 2010-2020.
The report on this market encompasses:
Comprehensive analysis of all the sections
Esteemed data and figures on every region
Latest market trends and drivers
Superior insights into all emerging developments
What Does the Report Offer?
Bird’s-eye view understanding of the market trends and drivers;
Piecemeal examination of all possible market segments;
Comprehensive insights into the market restraints; and
In-depth study of the regional dynamics and competitive landscape of the market.
Key Pointers Covered in this Market Industry Trends and Forecast
Market New Sales Volumes
Market Replacement Sales Volumes
Market Installed Base
Market By Brands
Market Procedure Volumes
Market Product Price Analysis
Market Healthcare Outcomes
Market Cost of Care Analysis
Market Regulatory Framework and Changes
Market Prices and Reimbursement Analysis
Market Shares in Different Regions
Recent Developments for Market Competitors
Market Upcoming Applications
Market Innovators Study
Market research analysis and estimations from a wide ranging A report aids businesses in gaining knowledge about what is already there in the market, what market looks forward to, the competitive background and steps to be followed for outdoing the rivals. Effortlessness maintained in research method and application of best tools and techniques makes this market research report an outstanding. The report is bifurcated into several attributes which include manufacturers, region, type, application, market status, market share, growth rate, future trends, market drivers, opportunities, challenges, emerging trends, risks, entry barriers, sales channels, and distributors which are again detailed in the universal this business report as required to describe the topic and provide maximum information for better decision making.
The premium a market research report offers a great understanding of the current market situation with the historic and projected upcoming market size based on technological growth, value and volume, projecting cost-effective and leading fundamentals in the market. The industry report analyses market information related to specific stock, currency, commodity, and geographic region or country. SWOT analysis has been performed while building this market report along with many other standard steps of researching, analyzing and collecting data.
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