Biocompatible 3d Printing Materials Market
Biocompatible 3d Printing Materials Market - Global Industry Assessment & Forecast
- By Type Polymer, Metal, Others
- By Application Implants & Prosthesis, Prototyping & Surgical Guides, Tissue Engineering, Hearing Aids, Others
- By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
|Forecast Years:||2023 - 2030|
|Historical Years:||2017 - 2021|
|Revenue 2022:||USD 689.45 Million|
|Revenue 2030:||USD 4083.19 Million|
|Revenue CAGR (2023 - 2030):||24.90%|
|Fastest Growing Region (2023 - 2030)||Asia Pacific|
|Largest Region (2022):||North America|
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- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
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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.
Biocompatible 3d Printing Materials Market Size, 2022 To 2030 (USD Million)
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.
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.
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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.
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:
Regions & Countries Covered
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market
attractiveness analysis by segments and North America, company market share analysis, and COVID-19
Frequently Asked Question
What is the global demand for Biocompatible 3d Printing Materials in terms of revenue?
The global Biocompatible 3d Printing Materials valued at USD 689.45 Million in 2022 and is expected to reach USD 4083.19 Million in 2030 growing at a CAGR of 24.90%.
Which are the prominent players in the market?
The prominent players in the 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)..
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 24.90% between 2023 and 2030.
What are the driving factors fueling the growth of the market.
The driving factors of the Biocompatible 3d Printing Materials include
- Technological Advancements in the 3D Bioprinting Industry
Which region accounted for the largest share in the market?
North America was the leading regional segment of the Biocompatible 3d Printing Materials in 2022.