TechNavio has announced the publication of its market research report on the Global Rapid Prototyping Equipment Market, which is expected to grow at a CAGR of 26.07 percent from 2014-2019.
"Rapid prototyping equipment enables the production of reliable and cost-effective products and also reduces the need for multiple prototypes and analysis time, which ultimately helps reduce product development cycle time"
The latest report from TechNavio highlights the growing need for faster time-to-market as a major driver for market growth in this area. Rapid prototyping equipment improves the efficiency and effectiveness of the product development cycle in the manufacturing process. Considering the current competitive business environment, more and more companies are in need of shorter product development cycles.
"Rapid prototyping equipment enables the production of reliable and cost-effective products and also reduces the need for multiple prototypes and analysis time, which ultimately helps reduce product development cycle time," says Faisal Ghaus, Vice President of TechNavio.
Rapid prototyping equipment helps manufacturing companies reduce lead time by reducing product design time, shortening the production planning process and reducing time spent on design changes.
Additionally, the market is witnessing an increased demand from the healthcare industry, and vendors have already started introducing products and systems specific to healthcare. They are developing advanced raw materials to develop various complex healthcare applications like transplantation surgery and tissue implant engineering.
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