Global Healthcare Additive Manufacturing Market Size, Share, Growth Analysis, By Technology(Stereolithography, Deposition Modelling), By Application(Medical Implants, Prosthetics), By Material(Metals and Alloys, Polymers) - Industry Forecast 2024-2031

Global Healthcare Additive Manufacturing Market size was valued at USD 6.27 billion in 2022 and is poised to grow from USD 7.4 billion in 2023 to USD 28.02 billion by 2031, at a CAGR of 18.1% during the forecast period (2024-2031).

The market is expanding as a result of rising demand for personalized medical products like implants and the introduction of new technologies for producing a range of goods with straightforward and intricate patterns. The next industrial technological advancement is being hailed as the ability to produce intricate and personalized medical parts and components, such as tissues, organs, dental prosthesis, and orthopedic and cranial implants. Through the projected period, the market expansion is anticipated to be aided by the high demand and unmet requirements throughout the healthcare industry, which have been found as a result of a rise in surgeries and the occurrence of chronic illnesses.

The COVID-19 pandemic caused a decline in market expansion in the first half of 2020, but the market recovered well in the latter part of the year and generated a number of items needed to combat coronavirus, which helped the market thrive. Complex designs that are difficult or impractically expensive to build with conventional machinery, molds, milling, and dies may now be produced thanks to additive manufacturing.

It also makes a substantial contribution to fast prototyping, enabling a workflow that is more dynamic and design-driven. Additionally, it quickly produces prototypes utilizing 3D CAD since it does away with the labor-intensive process and high costs associated with conventional prototyping. Many different types of materials, including polymer compounds, metal alloys, and living cells, are used in additive manufacturing. Polymers & metal alloys are the most often used materials because they are strong, non-corrosive, and biocompatible.

Polymers are extensively used to create prosthetic limbs, surgical devices, and other equipment. Metals and alloys are widely used in spinal implantation and surgical implants. The COVID-19 pandemic originally hindered market growth due to the economic downturn, problems with supply chains, and government-issued advisories to stay at home so as to prevent the sickness. But creating the medical products required to stop the coronavirus helped the market.

US Healthcare Additive Manufacturing Market is poised to grow at a sustainable CAGR for the next forecast year.