Biocompatible 3D Printing Materials Market

Biocompatible 3D Printing Materials Market Size (2023-2028)

The biocompatible 3D Printing Materials Market will grow from US 345 million in 2022 to $ 830 million in 2028, recording a compound annual growth rate of above 23.5% over the forecast period from 2023-2028

Biocompatible materials often include metals, polymers, composites, ceramics, and others that play a pivotal role in additive manufacturing. Compared to conventional methods, biocompatible 3D printing offers more efficiency and is eco-friendly. The medical sector applications like the making of prosthetics, implants, tissue engineering, and so on are supporting the expansion of the worldwide market. Therefore, the implants and prosthesis application segment is likely to develop with a significant growth rate in the foreseen years in comparison to other segments. The polymer segment based on the type is foreseen to register notable growth in the outlook period compared to metal based on its multiple advantages. Also, the powder segment based on the form is supposed to witness huge demand in the international market in the coming years.

Drivers and Restraints of Biocompatible 3D Printing Materials Market

In additive manufacturing (AM), metal is a primary focus area that has led to increased investments in recent years. The biocompatible 3D-printing materials industry is witnessing growing demand from the defense and aerospace industries. This is because Bio-compatible 3D-printing materials have the capability to reduce the aerospace part weight and boost overall efficiency.

Mass customization of bio-compatible 3D printing materials proves to be a major driving force for the industry. These materials can be used in dental implants, hearing aids, drug delivery, and tissue engineering. This wide range of implications provides several opportunities for the market to grow. Biocompatible 3D-printing materials are used to manufacture prototypes for surgeries and medical equipment. The increasing demand for critical engineering and fabrication applications in the medical industry is driving the segment. The government policy toward increased spending in the healthcare sector has been a major contributing factor to the growth of the Biocompatible 3D-printing materials industry in the global markets.

Before the pandemic, the growth rate was expected to be flat thanks to the technological shift, and post that it has suffered dearly. The COVID-19 pandemic has inflicted some heavy casualties in various countries and that caused a nationwide lockdown. Healthcare and packaging sectors thrived during this period while the rest crumbled. Bio-compatible 3D-printing materials market posted considerable growth during this period owing to the demand from the healthcare sector. This was also helped by the demand from the IoT healthcare sector where there are tremendous opportunities for the medical devices segment.

Challenges in the Biocompatible 3D Printing Materials Market

This technique of biocompatible 3D printing despite having wonderful utilization in several end-use industries turns out to be very expensive and thus many market players choose to opt for the traditional 3D printing metals instead. Also, the production of these materials involves a lot of approvals from the respective governing agencies, which is time-consuming and a huge investment. This aspect is also estimated to restrict the expansion of the global biocompatible 3D-printing materials business in the coming years.

BIOCOMPATIBLE 3D PRINTING MATERIALS MARKET REPORT COVERAGE:

Biocompatible 3D Printing Materials Market segmentation as per the research report until 2028.

On the basis of Material:

• Metals

• Polymers.

Metals are mostly used to print bone replacements, prosthetics, or hearing aids while polymers are used to print organs, tissues, prototypes, and surgical guides. Polymers and composites of polymers with metals are also being used in bone grafting and replacement nowadays as the recovery time is greatly reduced with the addition of polymers. The polymer market is projected to grow more than the metal market during the forecast period.

On the basis of Application:

• Hearing aids

• Implants & prostheses

• Prototypes & Surgical Guides

• Tissue Engineering

The implants and prosthesis market is expected to grow at the highest CAGR during the analysis period.

On the basis of Materials:

• Liquid

• Powder

The powder is much more easily transportable and hence is the largest market in this category.

On the basis of the Region

• North America

• Europe 

• Asia Pacific

• Latin America 

• Middle East and Africa 

Recent Developments

• Recently scientists found that 3D-printed implants and stem cells helped paralyzed rats walk again.

• This could also be used on humans potentially creating a huge market for 3D printing materials Researchers at Australia’s ARC Centre of Excellence for Electro materials Science (ACES) investigated the viability of diamond-laced ABS as a low-cost biocompatible 3d printing material.

• Nan yang university scientists reviewed the usage of carbon nanotubes as a lightweight powerful alternative for 3D printing biocompatible products.

Major companies playing their trade in the Biocompatible 3D Printing Materials Market include

1. Evonik Industries AG (Germany)

2. Renishaw PLC. (UK)

3. Formlabs Inc. (US)

4. Concept Laser GmBH (Germany)

5. 3D Systems, Inc. (US)

6. EOS GmBH Electro-Optical Systems (Germany)

7. Stratasys Ltd. (US)

8. EnvisionTEC, Inc. (Germany)

9. 3D Composites (US)

10. Aspect Biosystems Ltd. (Canada)