Herbal Medicine Market Forecasts to 2028 – Global Analysis By Type (Medicinal Part, Medicine Function and Active Ingredient), By Source (Fruits and vegetables, Leaves, Barks and others), By Category (Herbal Pharmaceuticals, Herbal Beauty Products and Othe

Herbal Medicine Market Forecasts to 2028 – Global Analysis By Type (Medicinal Part, Medicine Function and Active Ingredient), By Source (Fruits and vegetables, Leaves, Barks and others), By Category (Herbal Pharmaceuticals, Herbal Beauty Products and Others), By Medicinal Plants (Aloe Vera, Marrubium Vulgare and others), By Form (Syrups,Powders,Extracts), By Distribution Channel (Hospitals and Others) and Geography

According to Stratistics MRC, the Global Automated 3D Printing Market is accounted for $983.09 million in 2022 and is expected to reach $7133.59 million by 2028 growing at a CAGR of 39.14% during the forecast period. A 3D object is created via the 3D printing technique, which uses a computer to regulate the joining or hardening of various materials (such as liquid molecules being fused together). Rapid prototyping and additive manufacturing methods both employ 3D printing. Any form of object's shape or geometry can be created utilising digital model data from a 3D model or another electronic data source.

According to the World Economic Forum, more than 12 million fully autonomous cars are expected to be sold per year-on-year 2035, covering 25% of the global automotive market.

Market Dynamics:

Driver:

Increasing usage of technology

The growing use of this technology in a range of healthcare-related applications, including transplant, drug delivery, 3D printed organs, and a variety of other uses, is one of the main factors driving the automated 3D printing market. One of the elements influencing the technology's rising popularity is the variety of uses for 3D printing in the healthcare industry. In the upcoming years, the 3D printing market will expand due to the widening range of applications and falling costs of printers and 3D printing.

Restraint:

Reduction in manufacturing jobs

3D printers are used to complete tasks that would require manual labour in the past. One of the potentially harmful effects of 3D printing technology is the reduction in jobs in the manufacturing and design industries. The production is handled by computers as the majority of it is automated. By automating the manufacturing process, this technology could eliminate the low-skill manufacturing employment that are nevertheless vital to the economies of many developing nations.

Opportunity:

New technological advancements

The focus on creating innovative 3D-printed items, which raises the demand for the technology in the healthcare sector, is one of the factors propelling the market's expansion. Additionally, the expansion of the market for 3D printed medical devices is being attributed to rising research and development activities that aid create novel treatments for several ailments. A 3D printer was used to successfully create bio-blood-vessels using material taken from the human body as a template. The likelihood of a successful implant is increased since these blood vessels can also serve as drug carriers that release the medicine into the area where it is inserted.

Threat:

High cost of 3D printing

One of the biggest barriers to growth in the market is the high cost of 3D printers. Technologies that are too expensive to use include drop deposition, powder bed fusion, laser beam, electron beam, and stereo lithography. Commercial and tourist printers are too expensive for most institutions to buy and install, and they are mostly used in the healthcare industry. The expensive price of 3D printers continues to be a major obstacle to their widespread adoption even though they have the ability to reduce the cost of completed items while also enhancing efficiency.

Covid-19 Impact

Due to Covid-19 the amount of potential revenue that could be generated in the near future for the overall 3D printing sector will be reduced. In the pharmaceutical business, for instance, predicted revenue decreased, but this is still a considerably better result than what many other sectors are currently going through as a result of the various effects of COVID-19. Even while the 3D printing sector is expected to return to double-digit growth rates as early as next year, the fact that the market is expected to experience double-digit growth rates as soon as then is undoubtedly advantageous for new players who want to enter the market in the years to come.

The selective laser sintering (SLS) segment is expected to be the largest during the forecast period

The selective laser sintering (SLS) segment is estimated to have a lucrative growth, due to the usage of powdered material as the substrate for printing new objects. The process is then repeated, adding each layer of powder one at a time, forming the item. Using laser sintering, ceramic, metal, and plastic things can be produced. It is feasible to print intricate and delicate structures with this kind of printer because the level of detail is only constrained by the laser's accuracy and the quality of the powder. Printers for fused deposition modelling are more accessible and less expensive than those for selective laser sintering.

The healthcare segment is expected to have the highest CAGR during the forecast period

The healthcare segment is expected to witness the fastest CAGR growth during the forecast period, due to the application of organ fabrication, anatomical models, and creation of customized prosthetics, drugs and tablets and many more sectors in healthcare industry. Thus, the market expansion will be fuelled by the wide diversity in demand as well as expanding applications. Additionally, the manufacturing sector has been creating product prototypes using 3D printing for decades. To make models, many manufacturers use rapid prototyping machines, which are huge, quick 3D printers. This is mostly because this segment is expanding and is benefiting from shorter manufacturing times, lower costs, and operational efficiency.

Region with highest share:

North America is anticipated to hold the largest market share during the forecast period owing to the large number of small and large sellers is to blame for the increased demand. As an illustration, Carlsbad, California-based Forecast 3D provides 3D printing services in a range of materials to the healthcare, automotive, aerospace, consumer goods, and design industries. Due to the quick development of potent AI applications, closed-loop control systems have long been a primary objective for engineers working in additive manufacturing.

Region with highest CAGR:

Europe is proposed to have the highest CAGR over the forecast period, owing to the fundamental tenets of 3D printing, which are the conversion of code, output flexibility, and material cartridges into an obvious design. These days, mass production, quick manufacturing, rapid prototyping, and mass customization all make use of 3D technologies. As more people become aware of the benefits of 3D printing, they are more inclined to choose it over more traditional methods.

Key players in the market

Some of the key players profiled in the Automated 3D Printing Market include Concept Laser Inc. (GE Additive), Stratasys Ltd, ExOne Company, 3D Systems Corporation, Formlabs, Materialise NV, Universal Robots AS, SLM Solutions Group AG, DWS Systems, PostProcess Technologies Inc., ABB Group, Authentise Inc., Coobx AG, Viaccess-Orca.

Key Developments:

In February 2022, Viaccess-Orca, ShipParts.com, along with SLM Solutions, announced a new technology solution that enables direct Cloud-to-Print for additive manufacturing (AM). This fully automated software execution protects the manufacturer's intellectual property (IP) associated with part data by controlling the quantity, duration, and parameters of acceptable prints. Based on the native integration of VO's SMP software library and SLM Solutions machine firmware, this Cloud-to-Print solution allows manufacturers to be fully confident that their IP will be protected when printing is licensed.

In January 2022, Materialise NV, a renowned provider of additive manufacturing (AM) software and services, Sigma Labs, Inc., a provider of quality assurance software, and Materialise, together have developed a technology to enhance the scalability of metal AM applications. The new platform combines Sigma Labs' PrintRite3D sensor technology to Materialise Control Platform to enable the users to identify and correct metal build issues in real-time.

In January 2022, PostProcess Technologies announced the addition of a new solution lineup of automated, intelligent post-printing solutions for additive manufacturing (AM) to its portfolio. The new VORSA 500 leverages PostProcess technology for consistent, hands-free support structure removal on 3D printed FDM parts.

Types Covered:
• Software
• Hardware
• Services

Processes Covered:
• Multiprocessing
• Material Handling
• Automated Production
• Post-Processing
• Part Handling
• Material Extrusion
• Powder Bed Fusion
• Sheet Lamination
• Binder Jetting
• Direct Energy Deposition
• Other Processes

Technologies Covered:
• Laminated Object Manufacturing (LOM)
• Selective Laser Sintering (SLS)
• Electron Beam Melting (EBM)
• PolyJet Printing
• Digital Light Processing (DLP)
• Laser Metal Deposition (LMD)
• Stereo lithography (SLA)
• Fused Deposition Modeling (FDM)
• Other Technologies

Material Types Covered:
• Ceramics
• Polymers
• Metal & Alloys
• Fiber

Applications Covered:
• Functional Part Manufacturing
• Design & Engineering
• Industrial Tooling
• Other Applications

End Users Covered:
• Industrial Manufacturing
• Automotive
• Healthcare
• Aerospace and Defense
• Consumer Products
• Energy
• Printing and Packaging
• Architecture & Construction
• Food & Beverage
• Other End users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements