Biocompatible 3D Printing Materials Market - Growth, Trends, and Forecast (2020 - 2025)
The market for the biocompatible 3d printing materials is expected to grow at a CAGR of more than 5% globally during the forecast period.
Increasing applications for medical uses and growing demand in North America for tissue engineering are driving the market growth.
High material costs and the outbreak of COVID-19 are expected to hinder the market growth.
Key Market Trends
Growing Demand from the Medical Industry
Biocompatible 3D printing materials are the materials that can be used for various novel applications because of biocompatibility, mechanically durability, and easily moldable nature. Majorly, these materials are being used in the medical industry.
Applications of biocompatible 3D printing materials include surgical models, dental fixtures, bridges, and crowns customized patient-specific implants and prostheses, living tissue scaffolds for tissue engineering, and regenerative medicine.
Materials such as metals and polymers are in high demand for surgical, implants, and dental crowns purposes.
Additive manufacturing has revolutionized the healthcare system by customizing implants and prostheses, building biomedical models and surgical aids personalized to the patient, and living scaffolds for regenerative medicines.
The impact of the COVID-19 has led to the shutdown of manufacturing units all around the world and is expected to decrease the production rate of biocompatible 3d printing materials.
Increasing applications for medical purposes, growing demand for tissue engineering, and technological advancements in surgical procedures in developed regions are expected to drive the demand for biocompatible 3d printing materials through the years to come.
North America Region to Dominate the Market
North America is expected to dominate the global market owing to the highly developed medical sector followed by Europe and coupled with the continuous investments done in the region to advance the technologies in additive manufacturing through the years.
North America is one of the well-developed nations that advanced the medical industry with continuous developments witnessed over the years. The government of the US has been investing a lot in biomedical engineering applications and other research activities in the medical field.
Implants and prosthesis is the major segment for the biocompatible 3D printing materials, in the region.
Tissue Engineering scaffolds is one of the thriving applications for biocompatible 3D printed materials. These materials are being used to support human organs and organ systems that may have been damaged after injury or disease.
Moreover, polymer materials are also used in crafting hearing aids, preparing models that can aid in diagnosis and preoperative planning, and preparing models of organs or specific body parts that can be developed for practice purposes to demonstrate various sensitive surgical procedures, such as osteotomies.
According to the World Health Organisation (WHO) 2019 report on "Deafness and hearing loss", the absolute number of people with hearing loss has been steadily increasing during the last decade in North America, and even more in developed parts of the region such as the United States.
The continuous growth and increasing applications in the medical sector are expected to drive the market for biocompatible 3D printing materials through the years to come.
The global biocompatible 3D printing materials market is partially consolidated in nature with a few major players occupying a significant portion of the market. Some of the major companies are Stratasys, Ltd, 3D Systems, EnvisionTEC, regenHU, and EOS GmbH Electro Optical Systems, among others.
Reasons to Purchase this report:
The market estimate (ME) sheet in Excel format
3 months of analyst support
Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook