Additive Manufacturing Technologies Market Scope and Opportunities Analysis 2024

Posted by Pooja Mahajan on May 17th, 2019

Global Additive Manufacturing Technologies Market: Overview

Technological advances have become an integral part of reconstructive surgery. New developments in software, imaging modalities, additive manufacturing, and customization of implants are poised to revolutionize the field of reconstructive surgery. Digital 3D design data is used in additive manufacturing technologies process to build a component in layers with deposition of material. Additive manufacturing technologies uses material in powder form to build a product. Additive manufacturing technologies are useful in cases where conventional technologies have limitations and when a new approach to design and manufacture is required to derive a solution. Additive technologies use a design driven manufacturing process, thereby enabling highly complex structures to be light and stable.

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The principle behind additive manufacturing technologies is applying a powder material in the form of layers to build the platform. Then a beam of powerful laser fuses with the powder exactly at defined points generated by computer component design data. Later the platform is lowered and the process is repeated for application of one more powder layer. There is again fusion of material and the technique used depending upon the type of material materials. Additive technology is effective in making pieces that are resilient and precise. Hence, the technology is being used to develop products with benefits such as design free, low quantity economic, material efficiency, predictable time, and reduced assembly space.

Global Additive Manufacturing Technologies Market: Drivers and Restraints

Rapidly changing economies of scale, rise in gold prices, outsourced manufacturing making it important to find cost effective methods, increase in demand for restoration, government investment, increased application areas, robust product development at low cost, and ease of development with customized products drive the global market. However, regulatory uncertainty, limited choice of materials used, material and process manufacturing qualification and certification standards, and ethical consideration are likely to restrain the market.

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Global Additive Manufacturing Technologies Market: Key Segments

The global additive manufacturing technologies market can be segmented based on technology, processes, application, end-user, and region. In terms of technology, the additive manufacturing technologies market can be bifurcated into stereo lithography and 3D printing. Based on process, the global additive manufacturing technologies market can be classified into VAT photopolymerization, material jetting, material extrusion, binder jetting, sheet lamination, power bed fusion, and directed energy deposition. In terms of application, the additive manufacturing technologies market can be categorized into bone transplants, dentistry, plastic surgery, and artificial blood vessels.

Based on end-user, the global additive manufacturing technologies market can be divided into high-end hospitals, dental clinics, ambulatory surgical centers, and medical research laboratories. In terms of region, the global additive manufacturing technologies market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Several industrial applications for additive manufacturing technologies have been developed in the last five years. North America and Europe lead the global additive manufacturing technologies market. However, Asia Pacific is an attractive emerging additive manufacturing technologies market and is expected to lead the global additive manufacturing technologies market in the next few years. China and Japan are the leading additive manufacturing technologies market in Asia Pacific.

The additive manufacturing technologies market is expected to expand in developing countries such as India and Brazil. Research and development activities mostly take place in the U.S., the U.K. and Germany. Several manufacturing firms are looking for investment in additive manufacturing technologies equipment in Latin America to expand in this potential market.

Global Additive Manufacturing Technologies Market: Key Players

Top players in the global additive manufacturing technologies market are 3D Systems, Arcam, Bespoke Innovations, Envision TEC, EOS, Innovation MediTech, Lima Corporate, Medial Modeling, Renishaw plc, Optomec, Organovo, Ossis, Oxford Performance Materials, and Visualization Sciences, among others.