Latin America Additive Manufacturing (AM) Market is expected to reach USD 2.30 billion by 2030
The rising momentum of additive manufacturing in Latin America's healthcare sector driving up demand for the additive manufacturing (AM) market during the forecast period.
Latin America Additive Manufacturing (AM) Market is valued at USD 0.47 billion in 2022 and is expected to reach USD 2.30 billion by 2030, with a CAGR of 21.8% from 2023 to 2030, according to new research by Next Move Strategy Consulting.
Latin America is set to experience a surge in the additive manufacturing market, especially within the healthcare sector, due to significant investments and innovative developments taking place in the region. The healthcare industry in Latin America is undergoing a notable transformation driven by advancements in medical technology and an increasing focus on delivering high-quality healthcare services. For instance, researchers from the National Scientific and Technical Research Council (CONICET) and the National University of La Plata in Argentina developed a 3D bioprinting system that can incorporate the 4th axis. This new 3D printer enables the additive manufacturing of more complex cylindrical, tubular, or helical mesh structures. These factors are positively impacting the market growth in Latin America.
However, the cost of additive manufacturing technologies, including printers, materials, and post-processing equipment is relatively high compared to traditional manufacturing methods. This cost factor may limit the accessibility and adoption of additive manufacturing, particularly for small and medium-sized businesses, which is expected to restrain the growth of the market.
On the other hand, continuous advancements in additive manufacturing technologies, including improved printer capabilities, enhanced materials, and more efficient post-processing techniques, have fueled the growth of the market. These advancements enable higher quality, faster production, and expanded application possibilities, attracting more industries to adopt additive manufacturing. Thus, it is expected to create ample opportunities for the market.
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According to the report, leading players in the Latin America additive manufacturing market include Prodways, Carbon3D, Maquinas CNC, Innovacion 3D, Innovatec, 3D Centro de Fabricacion, Triditive, Ingeometrica, 3D Systems, and Arcam AB
Key Insights from the Latin America Additive manufacturing Market Report:
The information related to key drivers, restraints, and opportunities and their impact on the Latin America additive manufacturing market is provided in the report.
The value chain analysis in the market study provides a clear picture of the roles of each stakeholder.
The market share of players in the Latin America additive manufacturing market is provided in the report along with their competitive analysis.