In terms of revenue, the global Biocompatible 3D Printing Materials market is expected to reach USD 1283.1 Million by 2028, growing at a Compound Annual Growth Rate (CAGR) of 25.1% from 2022 to 2028. The market growth is attributed to the factors such as increasing demand for biocompatible 3D printing materials in medical applications, and increasing adoption of 3D printing in new medical applications. Moreover, increasing government investments is further anticipated to drive the Biocompatible 3d Printing Materials market growth over the forecast period.
- Under the type segment, the polymer sub-segment is anticipated to dominate the segment for the biocompatible 3D printing materials market and grow at a substantial Compound Annual Growth Rate (CAGR). The market growth is attributed to, increasing demand for polymer, owing to its cost-effectiveness, easier to mold, and degradable nature.
- The tissue engineering sub-segment held a market significant share in 2021 of the application segment for the biocompatible 3D printing materials market. The market growth is attributed to, increased cases of tissue or organ failure in geriatric patients, and increasing research & development activities on bio fabrication of body parts and organ printing.
- North America is the largest regional segment. Market growth is attributed to increasing government spending in 3D printing, in the region. Additionally, well-established research and development facilities in the region is also anticipated to further propel the market growth over the forecast period
Some of key players in Biocompatible 3d Printing Materials market include - 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)..
Demand for Prosthetics is rising hastily. The main appeal of 3D printed products to professionals is that each individual unit can be personalized to fit the recipient. Tailor-made prosthetics, implants, and drugs will herald an entirely new system that will eventually be the centerpiece for healthcare systems worldwide. The new and more effective personalized healthcare systems will transition out from the current ‘one size fits all approach where effectiveness is not equal from patient to patient. An effort to achieve this more advanced model of healthcare is anticipated to be one of the major drivers of the market.
North America is expected to emerge as potential market for Biocompatible 3d Printing Materials market. U.S. is anticipated to hold a significant share of the region for the biocompatible 3D printing materials market. This is owing to the presence of major players and well-established research and development facilities in the region. Additionally, an increase in the number of businesses, and a strong economy to support research financing is further boosting the market growth in the region over the forecast period.