Biocompatible 3D Printing Materials Market: Key Highlights
- The global biocompatible 3D printing materials market was valued at ~US$ 318 Mn in 2018, and is anticipated to expand at a CAGR of ~16% from 2019 to 2027.
- The usage of 3D printing in the medical industry is expected to rise during the forecast period, due to the various advantages offered by 3D printing over traditional printing.
- Increase in the adoption of 3D printing in the medical industry is estimated to boost the demand for biocompatible 3D printing materials during the forecast period.
Key Drivers of Biocompatible 3D Printing Materials Market
- 3D printing is rapidly becoming the preferred manufacturing technology for certain medical applications. 3D printing technology offers higher competitive advantages over traditional manufacturing techniques in the medical industry.
- 3D printing facilitates the easy production of orthopedic implants, dental devices, surgical guides, anatomical models, medical tools, prostheses, and custom enclosures. It is also employed in the printing of organs, bone regeneration, and drug release.
- The possibility of mass customization, i.e. production of highly-customized products, with the added advantage of low-cost production is also projected to boost the adoption of 3D printing in the medical industry. This is estimated to drive the demand for biocompatible 3D printing materials during the forecast period.
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Prototypes & Surgical Guides Application Projected to Offer Lucrative Opportunities
3D printing is widely used for the rapid prototyping and creation of anatomical models. It is also used to produce surgical guides, which are gaining popularity due to advancements in guided surgical procedures. Surgical guides are used in guiding the insertion and proper positioning of implants.
- The prototyping & surgical guides segment is anticipated to expand at a fast pace during the forecast period, due to the efficiency they provide in surgeries. Accurately printed customized surgical guides are employed for the insertion of implants during surgeries.
Lack of Compatibility with Printers and High Material Cost Likely to Hamper Market
- Currently used 3D printing technologies are compatible only with certain materials. For instance, some technologies utilize materials in the powdered form, while others use the liquid form. Therefore, the printer setup cannot switch between materials.
- 3D printers are incapable of using all materials uniformly. Furthermore, it is difficult to manufacture components involving two different materials using the same printer.
- The costs of raw materials vary depending upon the raw materials used. For instance, metal powders cost roughly two to three times more than polymer powders, while filaments cost much lower than other forms of biocompatible 3D materials. The cost of 3D printing using biocompatible materials also varies depending on the process. For instance, the cost of materials for selective laser sintering (SLS) stands at approximately US$ 500 to 525 per kg. Costs are also high for processes such as multi-jet modelling and binder jet techniques. However, fused deposition modelling, which uses filaments, may cost around US$ 50 to US$ 60 per kg.
- The 3D printing of metals is expensive, as they need high temperatures for melting. Laser processing is energy-intensive and can account up to 80% of the feedstock costs. These factors are likely to restrain the adoption of biocompatible 3D printing materials during the forecast period.
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Asia Pacific Rapidly Growing Region of Biocompatible 3D Printing Materials Market
- Asia Pacific is anticipated to be a highly attractive region in the global biocompatible 3D printing materials market during the forecast period. The biocompatible 3D printing materials market in the region is anticipated to expand at a rapid pace during the forecast period. The biocompatible 3D printing materials market in Asia Pacific is in the initial stage of development. Increase in the focus on research and development of new materials is observed in the region. The demand for biocompatible 3D printing materials is expected to be high in China, India, South Korea, Indonesia, and Malaysia during the forecast period.
- China dominated the biocompatible 3D printing materials market in Asia Pacific in 2018. The demand for biocompatible 3D printing materials is estimated to rise at a rapid pace in the country, due to continuous efforts by the government to promote the use of 3D printing in medical applications. Researchers in China are focused on developing bio-inks for organ printing.
- The demand for biocompatible 3D printing materials in India is projected to increase at a rapid pace during the forecast period. Recently, EOS GmbH Company collaborated with Central Scientific Instruments Organization (CSIO), India, to use 3D printing to customize metal 3D printed implants for a facial trauma patient. Such collaborations are likely to boost the adoption of 3D printing in medical applications in the country during the forecast period. China and India are expected to lead the demand growth for biocompatible 3D printing materials in Asia Pacific during the forecast period.
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Top Five Players Accounted for Major Share of Biocompatible 3D Printing Materials Market in 2018
The global biocompatible 3D printing materials market is consolidated. Currently, the biocompatible 3D printing materials market is expanding. Key players are focusing on research & development activities. The top five players - 3D Systems, Inc., Stratasys Ltd., EOS GmbH, Concept Laser Inc. and Envisiontec Inc. – cumulatively accounted for ~50% share of the global biocompatible 3D printing materials market in 2018. The global biocompatible 3D printing materials market is dominated by 3D Systems, which is the largest manufacturer of biocompatible 3D printing materials across the globe.
- 3D Systems, Inc. offers various products and solutions such as 3D printers, materials, software, and on-demand services. It has a broad portfolio of printing materials, including plastic, nylon, metal, composite, elastomeric, wax, polymeric dental materials, and class IV bio-compatible materials. 3D Systems, Inc. also provides precision healthcare services such as surgical planning, modeling, prototyping, and manufacturing. The company develops new products in order to maintain its leading position in the market.
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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 implants & prosthesis, prototyping & surgical guides, tissue engineering, and hearing aid.
The 3D priniting technologies are developed to enhance the unique design freedom.
The biocompatible 3D printing materials are becoming popular due to its reduced the lead time and excessive costs owing to tool-less processes.Rising Demand of biocompatible 3D printing materials in new medical applications and reduced production time and specifically tailored products are expected to drive the growth of the biocompatible 3D printing materials market.Get a Sample Copy Of This Report: https://www.alltheresearch.com/sample-request/164Growing 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.
Moreover, 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.Request a customization of the report @ https://www.alltheresearch.com/customization/164However, 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.Key Findings:Based on type, the polymer segment is expected to dominate the market with nearly 27% share in the global biocompatible 3D printing materials market in 2018Based on form, the powder segment accounts of the largest share in the market and held for more than 45% of the total market in 2018.Based on application, the tissue engineering segment is expected to dominate the market with nearly 25% share in the global biocompatible 3D printing materials market in 2018North America accounted for nearly 43% share of the global biocompatible 3D printing materials market in 2018Read Full Report @ https://www.alltheresearch.com/report/164/biocompatible-3d-printing-materialsRecent News:In April 2019, 3D Systems, Inc. Partnered with Georg Fischer AG for innovation and expertise in additive manufacturing with GF Machining Solutions.
Reports and Data has recently published a new research report on Global Biocompatible 3D Printing Materials Market that covers current development scenario and emerging trends of the market.
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The report applies advanced statistical tools such as Porter’s Five Forces analysis and SWOT analysis to shed light on the competitive landscape of the global Biocompatible 3D Printing Materials market.
The report covers all the critical and essential information relating to the global Biocompatible 3D Printing Materials market which helps the readers and clients gain a thorough understanding of the market.Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/1671The report initially offers market introduction, market overview, product scope, market opportunities, growth prospects, risks, limitations, and key drivers.
The report also covers a comprehensive analysis of the competitive landscape with extensive profiling of the key competitors.
It covers recent technological advancements, product developments, product launches, mergers and acquisitions, collaborations, joint ventures, and partnerships.Key Companies in the market include: The major industry players in the biocompatible 3D printing materials are, Stratasys Ltd., Aspect Biosystems Ltd., EnvisionTEC Inc., Concept Laser, Evonik Industries AG, 3D Composites, 3D Systems Inc., EOS Germany, Formlabs Inc., Renishaw Plc.Regional segmentation comprises of a current and forecast estimation of the market in the key geographical regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report on the global Biocompatible 3D Printing Materials market provides a panoramic view of the current market scenario and takes into account the impact of the COVID-19 pandemic on the overall market growth and its key segments.
The report also considers the factors likely to impact the market growth and overall dynamics of the market.
The study also assesses the market growsth over the forecast period of 2020-2026, along with a particular focus on the trends, growth opportunities, trends, restraining factors, and limitations.
Market Size – USD 0.30 Billion in 2018, Market Growth - CAGR of 21.5%, Market Trends – Product launches and research for low cost materials.
To get a sample PDF copy of the report, visit @ https://www.reportsanddata.com/sample-enquiry-form/1671The report is an investigative study that analyzes the production and manufacturing capacities, value chain analysis, pricing analysis, market share, and growth rate of the key manufacturers from 2020 to 2026.
The report analyzes the expansion strategies of the businesses in key regions of the world viz., North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
