Biocompatible 3d Printing Materials Market is Expected to Grow with a CAGR of 25.1% from 2022 to 2028
As stated in our extensive report, providing insights on Type, Form, and Application; the Global Biocompatible 3d Printing Materials Market accounted for USD 552.3 Million in 2021.
Factors such as, increasing 3D printing usage in new medical applications, reduction in production time & specially designed goods, and increasing biocompatible 3D printing material consumption are augmenting the growth of Biocompatible 3d Printing Materials Market in coming years. In addition, mass customization of biocompatible 3D printing materials and adoption of 3D printing in new medical applications are some other factors that influence the growth of Biocompatible 3d Printing Materials Market over the projected time period.
The major challenges in the development of Biocompatible 3d Printing Materials Market over the projected time period are developing FDA compliant 3D printing biomaterials and producing low-cost 3D printing materials. However, the adoption of 3D printing technology in bio-printing organs and growing government investments in 3D printing will provide lucrative growth opportunities in the development of Biocompatible 3d Printing Materials Market in near future.
Biocompatible 3D printing materials provide various advantages such as quickening the production of medical devices, producing custom & specifically-tailored parts on-demand, energy-efficient, environmentally friendly, and reducing the time that is generally required in converting a Computer-Aided Design (CAD). These advantages play an important role in the development of Biocompatible 3d Printing Materials Market. In addition, there is huge competition in various market players to introduce quality products in the market, which also increases the market demand. For instance, EnvisionTEC, a privately held global company, developed two new medical-grade materials. These materials are made from a liquid silicone material and biodegradable plastic. Also, Renishaw Plc, a global company, entered into a partnership with Infosys Limited, an Indian multinational information technology company, to provide an end-to-end product development service using metal additive manufacturing technology.
North America is accounted to witness maximum share for Biocompatible 3d Printing Materials market during the forecast period. Rising government spending in 3D printing, well-advanced research & development facilities, and a large economy to support research financing are some major parameters that drive the growth of Biocompatible 3d Printing Materials Market in this region. In addition, increasing healthcare awareness and rising demand for biocompatible 3D printing materials in this region are augmenting the growth of Biocompatible 3d Printing Materials Market over the projected timespan.
Some of the prominent players operating in the Global Biocompatible 3d Printing Materials Market are Formlabs Inc (US), 3D Systems Inc. (US), Evonik Industries AG (Germany), Stratasys Ltd. (Israel), Concept Laser GmbH (Germany), Eos GmbH Electro Optical Systems (Germany), Renishaw Plc (UK), Envisiontec Inc (Germany). Aspect Biosystems Ltd. (Canada), Apium Additive Technologies GmbH (Germany), Cellink AB (Sweden), Concept Laser GmbH (Germany), Detax Ettlingen (Germany), Evonik Industries AG (Germany), Formlabs Inc. (US), and Hoganas AB (Sweden)..
Browse the full Report - Biocompatible 3d Printing Materials Market by Type (Polymer, Metal, Others), by Application (Implants & Prosthesis, Prototyping & Surgical Guides, Tissue Engineering, Hearing Aids), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)