Recently published research from Markets and Markets, "Global Additive Manufacturing Market (2012 - 2017) - By Application [Medical Devices, Automotives, & Aerospace] & Technology [3D Printing, Laser Sintering, Stereolithography, Fused Deposition Modeling, Electron Beam Melting, & Tissue Engine", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 11/15/2012 -- Additive manufacturing 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. The AM is a potentially growing market in every manufacturing sector with a global market of $1,843.2 million in 2012 and is expected to grow at a CAGR of 13.5% to reach $3,471.9 million by 2017.
The global additive manufacturing devices market has been segmented into different areas such as, automotives, consumer products, business machines, medical, academic, aerospace, government/military and others. Automotives or motor vehicles account for the largest share in this market, primarily due to the easy applications of 3D printing in the production of end-products (engines, spare parts, other interior, and exterior parts) as compared to other segments such as consumer products and business machines, which have limited usage in manufacturing of end-products. Rising healthcare expenditure in emerging economies provide growth opportunities for the additive manufacturing technologies, as new healthcare facilities have come up in these areas.
View Full Report Details and Table of Contents
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 this market. However, a few pivotal factors restraining the growth of this market are regulatory hurdles in different countries, material characterization during development, and process control and understanding.
In this report, we are mainly focusing on medical applications of additive manufacturing. Within the medical industry, additive manufacturing is used in making end-products such as surgical equipments, prosthetics & implants, and scaffolds. The market is growing due to the rising incidence of surgeries, coupled with increasing awareness and advances in technology. Surgical equipments account for the largest share in this market due to their wide applicability.
Europe dominates the additive manufacturing for medical devices market in 2012, followed by North America. However, adoption of novel additive manufacturing technologies in the medical field is gaining momentum at a fast pace in emerging nations due to growing educational and awareness efforts of industry players among physicians and patients. Moreover, increasing healthcare expenditure, growing income levels, low cost of manufacturing, rapid product development, growing surgical procedures in lieu with medical tourism, and lesser competition than mature countries, have amplified interest of market players in emerging markets.
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Materials research reports at Fast Market Research
You may also be interested in these related reports:
- Global Electro-active Polymers Market Trends, Applications & Forecasts (2012 - 2017)
- Laser Technology Market by Types (Fiber Laser, CO2 Laser, Solid-state Laser, Excimer Laser, Dye Laser, Diode Laser) & Applications - Global Forecast and Analysis (2012 - 2017)