Albany, NY -- (SBWIRE) -- 10/18/2018 -- Global Additive Manufacturing in Medical Application Market: Overview
Additive manufacturing entails constructing a 3D structure of an object. It is a new technology which varies from the conventional manufacturing techniques that depend mostly on removal of products by cutting and milling processes. Additive manufacturing is becoming the latest trend in medical domain. The aerospace and automotive domains are also leveraging it big time for manufacturing.
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A report by Transparency Market Research finds that the global additive manufacturing in medical application is set to rise with increasing production of surgical implants, surgical equipment, dental bridges, prosthetics, copings, braces, replacement tissues, and intricate body part and scaffolds. The report throws light on the various growth drivers and restraints shaping the trajectory of the market. It also segments it based on different parameters to understand which ones hold out maximum promise in the near term. Apart from that, the report gauges the competitive landscape in the global additive manufacturing in medical application market through SWOT Analysis and Porter's Five Forces.
Global Additive Manufacturing in Medical Application Market: Drivers and Restraints
Numerous factors are serving to promote the global additive manufacturing in medical application market. Foremost among them is their unique perceived benefits. For example, they accord speed since they do not need molds or dies to build a component. This also serves to bring down the cost of manufacturing. Additionally, the flexibility offered by computer aided design (CAD) of additive manufacturing is another USP leading to its high uptake in medical applications.
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The global additive manufacturing in medical application market is being stoked too by the increasing surgical procedures and growing knowledge about the sophisticated procedure. Another factor boosting the global additive manufacturing in medical application market is the continued progress in the underpinning technologies to refine the entire process. Besides, creating materials having enhanced biocompatibility is also serving to broaden the horizons.
Global Additive Manufacturing in Medical Application Market: Regional Analysis
Geographically, the global additive manufacturing in medical application market is spread across Europe, Asia Pacific, North America, and the Rest of the World (RoW). Of them, the North America and Europe are ahead of others with respect to market shares and revenue generation. This is because of the advanced healthcare infrastructure and higher allocation towards medical research in the region. The regions being early adopters of latest technologies in manufacturing processes are spearheading the additive manufacturing in medical application market.
Going forward, the Asia Pacific additive manufacturing in medical application market is predicted to surge because of the strengthening healthcare facilities in the region and greater outsourcing of manufacturing medical devices to the region. The same scenario prevails in the Latin America market. Mexico, India, Brazil, China, and South Africa are mainly powering the additive manufacturing in medical application markets in the two regions.
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Global Additive Manufacturing in Medical Application Market: Competitive Landscape
Prominent participants in the global additive manufacturing in medical application market that have been profiled in the report include 3D Systems Inc., Arcam AB, EOS GmbH Electro Optical Systems, Biomedical Modeling, Inc., Medical Modeling, Inc., and Concept Laser GmbH. They are seen mainly focused on creating new technologies pertaining to additive manufacturing so as to better the volume of output. Those are also devised with an aim of improving quality and reducing cost. The report throws light on their product offerings and also their respective sales and revenues.
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