Press Release
Biocompatible 3D Printing Materials Market Analysis, Key Company Profiles, Types, Applications and Forecast
Three-dimensional (3D) bio printing combines growth factors, cells, and biomaterials to manufacture biomedical components that closely imitate natural tissue features. Basically, 3D bio printing builds the tissue-like structure by using a layer by layer process. Later on, that structure is used in medical and tissue engineering applications. Biomaterials are diverse components, which are used for bio printing. These components can be used in the implant and prosthesis industry since they are biocompatible in nature. Titanium, polyamide, PEEK, and cobalt-chrome alloy are some of the common biomaterials
These materials are used in 3D printing to form lattice structures or net-like structures on the surface of surgical implants. Moreover, they are helpful in Osseo integration as well as they can decrease rejection. 3D printing done with biocompatible material produces advanced surface geometry and improves survival rates than doing it with traditional products. These 3D printed items have unique features of porosity and capacity to match the user’s anatomy to offer a high level of customization and modification. Therefore, biocompatible 3D printing materials are used extensively in the implants and prosthesis industry.
The Global Biocompatible 3D Printing Materials Market Forecast:
The Global Biocompatible 3D printing materials market size was at USD 428.22 Million in 2020, and it is predicted that it will reach a valuation of USD 2914.36 Million by the end of 2030 with an annual development rate (CAGR) of 22.0% between 2022 and 2030.
Global Biocompatible 3D Printing Materials Market: Market Dynamics
Market Drivers:
In additive manufacturing (AM), metal is the main focus area that has been leading to the growing investment in recent years. The biocompatible 3D-printing material industry has been experiencing rising demand in the aerospace and defence industry. The credit goes to the ability of Bio-compatible 3D-printing materials to reduce the weight of the aerospace part and boost the overall effectiveness.
The major driving force for the industry is its unique features of mass customization of bio-compatible 3D printing materials. These materials can be used in various sectors, such as hearing aids, dental implants, tissue engineering and drug delivery. This wide range of implications has created several opportunities for the market to expand globally. Biocompatible 3D printing materials are used in the manufacturing of prototypes for surgeries and medical equipment. This segment has dominated the market due to the escalating demand for fabrication applications and critical engineering in the medical industry. The Biocompatible 3D-printing materials industry is anticipated to register significant growth, which is ascribed to the government policy towards increasing expenditure in the healthcare sector.
Challenges:
Even though they have significant utilization in several end-use sectors, this technique of biocompatible 3D printing turns out to be very costly. Therefore, many market players have opted for traditional 3D printing materials instead. Also, you need to take a lot of approval from the respective government agencies for the production of these materials. This aspect is anticipated to limit the expansion of the global biocompatible 3D-printing material business in the forthcoming years.
Global Biocompatible 3D Printing Materials Market: Regional Analysis
North America dominated the Biocompatible 3D Printing Materials Market and accounted for the largest revenue share of 55.0% of the global revenue in 2020. This high share is attributed to the government policies towards an increase in spending in the healthcare sector, growing demand from the aerospace and defence industry, as well as critical engineering and fabrication applications in the medical industry.
However, the Asia Pacific region is also projected to have the highest CAGR in the global market over the forecast period.
The Key Market Segmentation of the Global Biocompatible 3D Printing Materials Market:
Global Biocompatible 3D Printing Materials Market can be divided into Types, Applications, and Geographical landscapes, etc.
By Type:
- Polymer
- Metal
- Others
By Application:
- Implants & Prosthesis
- Prototyping & Surgical Guides
- Tissue Engineering
- Hearing Aids
- Others
By Geographical Landscape:
- North America
- Europe
- Asia Pacific
- South America
- Middle East and Africa
Major Key Players
- Evonik Industries AG (Germany),
- Concept Laser GmBH (Germany),
- 3D Systems, Inc. (US),
- EOS GmBH Electro-Optical Systems (Germany),
- Stratasys Ltd. (US),
- EnvisionTEC, Inc. (Germany),
- 3D Composites (US),
- Renishaw PLC. (UK),
- Formlabs Inc. (US),
- Aspect Biosystems Ltd. (Canada)
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