Biocompatible 3D Printing Materials Market Size to Reach USD 2259.75 Million in 2028 – Reports and Data
Growing demand for biocompatible 3D printing materials in several medical applications is driving the market revenue growth
The global biocompatible 3D printing materials market size reached USD 467.26 Million in 2020 and is expected to reach USD 2259.75 Million in 2028 and register a CAGR of 22.1% over the forecast period, according to latest analysis by Reports and Data. The biocompatible 3D printing materials market revenue growth is propelled by numerous factors including mass customization of biocompatible 3D printing materials, and rising government investments in the integration of 3D printing technology in various medical applications. Furthermore, the biocompatible 3D printing materials are advantageous in terms of expediting production of medical devices by reducing the time that is generally required in converting a Computer Aided Design (CAD) to the physical part. Additionally, as compared to the high material utilization in various traditional methods, the 3D printing of biomaterials is highly energy efficient as well as environmentally-friendly, and this advanced printing can produce custom and specifically-tailored parts on demand, which are further promoting the overall revenue growth of the global biocompatible 3D printing materials market.
Three-dimensional (3D) printing is emerging as a trend for the fabrication of complex structures in the biocompatible 3D printing materials market. High accuracy, and layer-by-layer addition of various intelligent materials is paving the way for dynamic 3D structures for stakeholders and manufacturers in the market. Moreover, 3D printing has shown exponential growth in the production of scaffolds that are utilized in tissue engineering. Therefore, biocompatible 3D printing technology is being increasingly used for tissue regeneration in magneto-responsive polymers, and vascular tissue engineering applications, which are some of the factors also supporting the market revenue growth.
The biggest challenge for the biocompatible 3D printing materials market is to develop therapeutically safe materials. Additionally, producing low-cost 3D printing materials is another factor expected to restraint the overall revenue growth of the global market over the forecast period.
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Further key findings in the report
- Based on application, the implants & prosthesis segment is predicted to account for the largest revenue share in the global market going ahead, owing to increasing demand from patients suffering from different critical health ailments, and growing number of accidents.
- The prototyping & surgical guides segment is expected to hold the second-largest revenue share in the global market during the forecast period. Prototyping & surgical guides made with biocompatible 3D printing materials, allowing clinical training, education, and device testing without the use of animal models and human cadavers, which is a major factor contributing to the revenue growth of this segment.
- North America market is predicted to hold the largest revenue share in the global market between 2021 & 2028, due to the presence of major biocompatible 3D printing companies, which are continually striving to increase their market share through innovation and expansion. Moreover, government initiative in substantial research with regard to healthcare for reducing the cost of several medical applications is another factor supporting the revenue growth of this regional market.
- Leading companies operating in the market are 3D Systems, Inc. (US), Evonik Industries AG (Germany), 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), and Aspect Biosystems Ltd. (Canada).
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For the purpose of this report, Reports and Data has segmented the global biocompatible 3D printing materials market on the basis of type, form, application, and region:
Type Outlook (Revenue, USD Million, 2018 - 2028)
Form Outlook (Revenue, USD Million, 2018 - 2028)
Application Outlook (Revenue, USD Million, 2018 - 2028)
- Implants & Prosthesis
- Prototyping & Surgical Guides
- Tissue Engineering
- Hearing Aids
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Regional Outlook (Revenue, USD Million, 2018 - 2028)
- North America
- Rest of Europe
- South Korea
- Rest of APAC
- Saudi Arabia
- South Africa
- Rest of MEA
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