Global Biocompatible 3D Printing Materials Market Growing at A CAGR of 13.0% 2026
The global
biocompatible 3D printing materials market was valued at USD 394.7 million
in 2018 and is expected to reach USD 1,012.2 million in 2026,
growing at a CAGR of 13.0% during the forecast period.
The biocompatible 3D
printing materials are used in various medical applications including
prototyping & surgical guides, implants & prosthesis, hearing aid,
tissue engineering, and others. The 3D printing technologies are developed to
enhance the unique design freedom. The biocompatible 3D printing materials are
becoming popular due to its reduced lead time and excessive costs owing to
tool-less processes.
Growing pharmaceutical
industries, growing demand for biocompatible 3D printing materials,
particularly in the implants & prosthesis application, and mass
customization of biocompatible 3d printing materials and reduced production
time and specifically tailored products are the main drivers for the market
growth of the global biocompatible 3D printing materials market over the
forecast period.
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Moreover, the increase
in research and development in new medicals applications across the globe is
expected to enhance the market size. This also expected to open investment
opportunities in the global market for the manufacturers in the coming years.
The rise in adoption of 3d printing technology in bioprinting organs and
increase in government spending in 3D printing offers huge growth opportunities
for biocompatible 3D printing materials market in the coming years.
However, high cost of
materials and complexity of design are expected to hamper the growth of the
global biocompatible 3D printing materials market during the forecast period.
Moreover, producing low-cost 3d printing materials and developing FDA compliant
3d printing biomaterials are the prime challenges in the global biocompatible
3D printing materials market throughout the forecast period.
The polymer segment
expected to dominate the market throughout the forecast period Based on type,
the global biocompatible 3D printing materials market has been segmented into
polymer, metal, and others. The polymer segment accounted for approximately 24%
of the share in the global biocompatible 3D printing materials market in 2018.
The major factors that are driving the growth of this segment are the rising
demand of polymer due to cheaper, easily moldable, and degradable and used in
various applications such as tissue engineering, hearing aids, prototyping, and
surgical guides.
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Based on form, the
powder segment is expected to dominate during the forecast period Based on
form, the market has been segmented into powder, liquid, and others. The powder
segment accounts of the largest share in the market and held for more than 50%
of the total market in 2018. The major factors that are driving the growth of
this segment are the compatibility with several 3D printers and rising demand
from medical applications such as bio fabrication, implants & prosthesis,
and surgical instruments.
Based on application,
the tissue engineering segment is expected to dominant the market during the
forecast period Based on application, the market has been segmented into
implants & prosthesis, prototyping & surgical guides, tissue engineering,
hearing aid, and others. The tissue engineering application segment accounts of
the largest share in the global biocompatible 3D printing materials market by
application.
The major factors that
are driving the growth of this segment are the growing cases of tissue or organ
failure due to age, diseases, accidents, and congenital disabilities and growth
in research and development made on bio fabrication of body parts and organ
printing. The manufacturers Evonik Industries AG, 3D Systems, Inc., and Stratasys
Ltd are the mainly investing in the development of tissue engineering for the
biocompatible 3D printing materials, which expected the lead the market in the
coming years.
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North America to
dominate the biocompatible 3D printing materials market throughout the forecast
period North America accounted for nearly 43% share of the global biocompatible
3D printing materials market in 2018 and is expected to dominate the market
throughout the forecast period. Increasing government investments in 3D
printing, well-established research, and development centers and rise in a
number of manufacturers and a strong economy to support research funding are
the major driving factor for the region in the global market.
Asia-Pacific is
expected to hold the highest CAGR in the global market during the forecast
period. The manufacturers are investing in the development of biocompatible 3D
printing materials, growing demand for biocompatible 3D printing materials in
developing countries and rising awareness about healthcare are expected to
enhance the market growth in the global biocompatible 3D printing materials
market during the forecast.
Company Profiles and Competitive Intelligence:
The major players operating in the global
biocompatible 3D printing materials market are
·
Evonik Industries AG
(Germany),
·
3D Systems, Inc. (US),
·
Stratasys Ltd. (US),
·
Concept Laser,
·
GmBH (Germany),
·
EOS GmBH Electro
Optical Systems (Germany),
·
Renishaw PLC. (UK),
·
Formlabs Inc. (US),
·
EnvisionTEC, Inc.
(Germany),
·
3D Composites (US),
·
Aspect Biosystems Ltd.
(Canada)
·
Among
others.
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