Healthcare Additive Manufacturing Market to Ride on the Back of Rising Demand for Personalized Medical Devices

The global healthcare additive manufacturing market is growing due to the rising demand for personalized medical devices, such as implants, and the advent of sophisticated technology to manufacture a variety of products with complex and simple designs.  Additive manufacturing is widely known as the next big thing after industrial revolution in the manufacturing sector. It comes with the ability to offer cost-effective process for extracting complex and personalized medical components and parts.  Tissues, muscles, orthopaedic and cranial implants, dental prosthetics, and other personalized medical pieces are just a few examples. Unmet needs and high demand in the healthcare sector, which have been identified due to an increase in the number of surgical interventions.  In addition to that, the rising prevalence of chronic disorders is expected to support progress of the global healthcare additive manufacturing market over the assessment tenure.

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Additive manufacturing enables the production of more intricate designs that would be impossible or prohibitively costly to produce using conventional machines, dies, milling, and moulds. It’s also perfect for prototyping quickly. It allows for a more complex and design-driven workflow. Additive manufacturing is suitable for rapidly creating prototypes utilizing 3D CAD, as it avoids the time-consuming process and exorbitant prices involved with conventional prototyping.

Potential for Providing Low Cost and Efficient Medical Components to Drive Demand in the Market

Additive manufacturing, also known as 3D printing, is the next technological revolution in manufacturing. It has a great deal of potential for providing low-cost methods to make complicated and personalized medical components and parts. Since customized structures are more convenient for patients, the demand for individually tailored additive manufacturing is quite high. Furthermore, patent expiration is likely to result in the loss of certain companies’ monopolistic influence over the industry, thereby making additive manufacturing items more attractive in the market. This is also likely to improve the product quality. These factors are likely to add to the expansion of the global healthcare additive manufacturing market in the near future.

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Nevertheless, the price of additive manufacturing remains strong, posing a financial barrier for underdeveloped and developing countries. In addition to that, there is a scarcity of qualified personnel to operate these machines. These factors are likely to stifle business expansion.

Author: Rohit Bhisey

As Head of Marketing at TMR Research, Rohit brings to the table over a decade of experience in market research and Internet marketing. His dedication, perseverance, and passion for perfection have enabled him to achieve immense success in his field. Rohit is an expert at formulating new business plans and strategies to help boost web traffic. His interests lie in writing news articles on technology,healthcare and business.

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