Market Trends of Hybrid Additive Manufacturing Machine Industry
Medical Sector Expected to Hold a Significant Share
- In terms of rate of deployment, the medical sector holds a significant share of the market for hybrid additive manufacturing machines. The benefits of hybrid manufacturing in the medical sector are due to the option to customize parts rather than using pre-made titanium pieces. In the medical industry, hybrid manufacturing is used to make end products such as surgical equipment, prosthetics and implants, and scaffolds.
- The use of hybrid additive manufacturing in the medical field is growing, mostly because more surgeries are being done and more people are becoming aware of and using advances in medical technology. For example, the widespread use of surgical robots in the medical field is leading to automation, which is why the medical field needs hybrid manufacturing.
- Further, the major benefits of hybrid manufacturing over traditional manufacturing in the medical industry are short product development times, better patient recovery, the development of patient- or surgeon-specific products, low manufacturing costs, and better accuracy.
- Also, traditionally, the additive manufacturing process in the medical field was considered a technique used solely to produce prototypes or models. However, with the development of advanced technologies and biocompatible materials, the market has grown in its adoption of hybrid manufacturing as a major process.
- Also, with a splurge in digitization, everything, including 3D printing, is happening online. 3D files can be kept on an online platform that is easily accessible to clients or distributors everywhere at any time to order on demand. According to the trends, 3D printing for medical devices seems optimistic. Such practices are further expected to augment market demand in the industry because they help medical practitioners repeat the operation, reduce the time of the surgery, and limit the decision-making time. However, the high cost of hybrid additive manufacturing machines is expected to hamper the market.
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North America to Hold a Major Share
- The North American region is expected to hold a major share in the hybrid additive manufacturing machines market in terms of revenue, owing to the presence of several major players and the relatively higher consumption of hybrid manufacturing machines across all industry verticals.
- However, doctors and patients are becoming more educated about the benefits of new medical technologies, which is helping to speed up the adoption of these technologies in the region.
- Also, North America has been an early adopter of advanced medical technologies. Moreover, the increasing healthcare expenditure, high disposable incomes, low cost of manufacturing, rapid product development, and a growing number of surgical procedures in lieu of medical tourism have amplified the interest of market players.
- Furthermore, the continuous expansion of the aerospace and automotive industries in the U.S. is driving industry development at a rapid pace. The rising awareness of hybrid manufacturing machines that offer efficient production capabilities is driving overall industry demand.
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