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Additive manufacturing market to reach $3.5bn by 2017

New report by Markets and Markets predicts that the world's additive manufacturing market will be worth over $1,800 million by the end of 2012 and, if current growth is maintained, will be worth almost $3,500 million in five years time
 AM is being used to produce devices such as prosthetics
 
 

The ‘Global Additive Manufacturing Market’ report focuses on the technique increasingly being used to produce medical devices such as surgical implants, prosthetics, implants and devices.

Markets and Markets describe additive manufacturing (AM) as:

“An automatic process used to create rapid prototypes and functional end-use parts. It takes virtual designs from CAD software and transforms them into thin, virtual, horizontal layer-wise cross-sections until the model is complete. It involves various industries, namely automotive, consumer products, business machines, medical, academic, aerospace, defence and others (such as architecture and forensic pathology.”

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AM has benefitted from a significant number of technological innovations in recent years including 3D printing, 3D modelling and lasers, with faster, more accurate and cost-effective techniques fostering a greater acceptance and adoption by manufacturers on a global scale.  

The report states:

“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.”

Among the key players within this market, the report names:

3D Systems Corporation, Biomedical Modeling Inc, GPI Prototype & Manufacturing Services, Greatbatch Inc and Medical Modeling Inc from the US, the UK’s 3T RPD, Arcam AB  and Fcubic AB from Sweden, the German Envisiontec GmbH and EOS GmbH Electro Optical Systems, as well as the Belgian Layerwise NV and Materialise NV.

The full report: Global Additive Manufacturing Market (2012 – 2017), by application (medical devices, automation & aerospace) and technology (3D printing, laser sintering, stereolithography, fused deposition modeling, electron beam melting & tissue engineering) is available here.

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