Additive Manufacturing Market Looks to Boom

According to a new market research report, “Global Additive Manufacturing Market (2012 - 2017), By Application (medical devices, automotives, & aerospace) and Technology (3D printing, laser sintering, stereolithography, fused deposition modeling, electron beam melting, & tissue engineering)”, analyzes and studies the major market drivers, restraints, and opportunities in North America, Europe, Asia, and rest of the world.

The market is expected to grow at a CAGR of 13.5% from 2012 to 2017 to reach $3,471.9 million by 2017. It involves various industries, namely, motor vehicles, consumer products, business machines, medical, academic, aerospace, government/military, and others (architecture, paleontology, and forensic pathology). This report studies the global additive manufacturing market and global additive manufacturing for medical devices market over the forecast period of 2012 to 2017.

The global additive manufacturing market, on the basis of industry types, is classified in the following segments, namely, motor vehicles, consumer products, business machines, medical, academic, aerospace, government/military, and others (architecture, paleontology, and forensic pathology). The additive manufacturing devices market is primarily composed of 3D printers for manufacturing of products; the materials used in additive manufacturing of 3D products include homogeneous materials and heterogeneous materials. This report mainly focuses on additive manufacturing for the medical industry.

A large number of technological innovations in additive manufacturing procedures have been witnessed in the past years, with newer technologies coming up with rapid and accurate development of products in a cost-effective manner contributing to encourage widespread adoption of the additive manufacturing procedures by manufactures worldwide.

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.

This report includes company profiles of major players such as 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.), Morris Technologies (U.S.), Objet (Isarel), Renishaw Plc. (U.K.), Sirona Dental Systems (U.S.), SLM Solutions GmbH (Germany), Stratasys, Inc. (U.S.), Surgival-Grupo Cosias (Spain), and Xillioc Medical B.V. (The Netherlands).

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Source: MarketsandMarkets