Biocompatible 3d Printing Materials Market

Market Synopsis:

Global Biocompatible 3d Printing Materials market is valued at USD 689.45 Million in 2022 and is projected to attain a value of USD 4083.19 Million by 2030 at a CAGR of 24.90% during the forecast period, 2022–2028. The method of mixing cells, growth factors, and bio-materials to make biomedical components that closely resemble natural tissue features is known as Biocompatible 3d Printing Materials. 3D bio-printing is a technology that deposits bioinks layer by layer to create tissue-like structures that can ultimately be employed in medical and tissue engineering applications. Bio-materials used in bio-printing come in a wide range of types. Bio-compatible materials such as polyamide, PEEK, titanium, and cobalt–chrome alloys are commonly utilized in the implant and prosthesis business. When 3D printed, these materials generate a thin mesh or lattice pattern on the surface of surgical implants. They also help in osseointegration and rejection. 3D printing using biocompatible materials produces superior surface geometry and boosts survival rates when compared to traditional items.

As the number of people infected with COVID-19 rises, there is a shortage of supplies for medical professionals and the general public. One of the most serious difficulties is the scarcity of COVID-19 test kits. As a result, a number of Biocompatible 3d Printing Materials businesses are mass-producing 3D printers and related software. For example, the Formlabs company in Massachusetts is already producing 100,000 nasal swabs every day for COVID-19 testing. The need for Biocompatible 3d Printing Materials is increasing as the number of instances of COVID-19 rises, and the market for Biocompatible 3d Printing Materials is predicted to develop at an exponential rate.

Technological Advancements in the 3D Bio-printing Industry

The use of Biocompatible 3d Printing Materials technology in the healthcare business has grown in recent years. Biocompatible 3d Printing Materials has emerged as a promising method for fabricating artificial tissues and organs, with the potential to transform medical diagnosis and treatment. Biocompatible 3d Printing Materials companies around the world are constantly innovating in regenerative medicine, tissue engineering, drug therapies, and stem cell therapy, which is attracting the attention of healthcare professionals and pharmaceutical companies who see a future with better patient care, personalized medical treatment, and an alternative to organ transplantation.

Dearth of Skilled Professionals

3D bio-printing is a new field in the healthcare industry that is seeing rapid technological improvements, which is driving up need for trained personnel who can run these systems successfully. Continuous process monitoring is required for optimal usage of 3D bio-printing technology. Due to uncontrollable process variables (such as batch and machine differences) and material differences, the consistency of the process differs across platforms. These technologies and processes necessitate the expertise of a trained individual who can comprehend and effectively operate a 3D bio-printer.

Also, the development of therapeutically safe materials is the largest hurdle for the Biocompatible 3d Printing Materials business. A biocompatible material must pass a set of tests established by the international standard ISO 10993, according to the Food and Drug Administration. These tests must ensure that the finished 3D printed medical gadget is both safe and effective in its intended application. It requires a lot of work, time, money, and research to show a material's therapeutic compatibility (referred to as USP VI). These requirements must be followed by enterprises in the medical 3D printing materials sector, particularly resin producers, making the creation of Biocompatible 3d Printing Materials extremely difficult.

Market Segmentation:

Global Biocompatible 3d Printing Materials can be of polymer, metal, or others. They are available in powder, liquid, and also in other forms. Implants & prosthesis, prototyping & surgical guides, tissue engineering, hearing aid, and others are some of the application areas where these materials are used. Based on region, the Biocompatible 3d Printing Materials market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

North America to Continue Dominating the Biocompatible 3d Printing Materials Market

In 2020, North America dominated the Biocompatible 3d Printing Materials market over the forecast period. The market is expected to rise due to the increasing adoption of IT in the healthcare industry. The government is increasing its research and development budget in attempt to create a vaccine for this disease. As a result of this, there is a growing need for 3D bio-printing, which has been validated for drug testing and organ transplantation.

Key Players:

Some of the major players in the 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).

The Biocompatible 3d Printing Materials market is segmented as follows: