Industry Overview

Global biocompatible 3D printing materials market was valued at USD 429.1 Mn in 2020 and is expected to grow at a CAGR of 19.2% during 2021–2030 to reach XX Mn by the year 2030. The market growth is attributed to increasing demand from the aerospace and defense industry accounted to 3D biocompatible printing material properties such as lightweight and easy to manufacture complex shapes. Technological advancement in the medical sector is projected to boost the growth of the biocompatible 3D printing materials market over the forecast period.

Introduction

The method of mixing cells, growth factors, and biomaterials to make biomedical components that closely resemble natural tissue characteristics is known as three-dimensional (3D) bioprinting. 3D bioprinting is a technology that deposits bioinks layer by layer to create tissue-like structures that may ultimately be employed in medical and tissue engineering applications. Biomaterials used in bioprinting come in a wide range of types. Biocompatible materials such as polyamide, PEEK, titanium, and cobalt–chrome alloys are frequently utilized in the implant and prosthesis industries.

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 creates superior surface geometry and boosts survival rates when compared to conventional items. The ability of biocompatible 3D printing materials to fit users’ anatomy and enable a high level of customization has expanded their application in the implants and prosthesis field.

Increased government investment in 3D printing, as well as the use of 3D printing technology in bioprinting organs, are two significant opportunities for the industry. Two main issues faced by the industry are the development of FDA-approved 3D printing biomaterials and the development of low-cost 3D printing materials. The Biocompatible 3D Printing Materials Market is flourishing due to factors such as increased biocompatible 3D printing material consumption, increased 3D printing usage in new medical applications, and reduced manufacturing time and specially designed solutions.

Biocompatible 3D Printing Materials Market Covid-19 Pandemic Impact & Recovery Analysis

COVID-19 pandemic hampers the growth of various sectors and major industry players are recovering from the damage. The Healthcare sector registered significant demand for technological advancement in developing as well as developed economies. The industry for prosthetics witnessed significant demand in the year 2020 and is projected to drive the growth for the biocompatible 3D printing materials market over the forecast period.

Key market players are focusing on implementing growth strategies such as acquiring new startups in the biocompatible 3D printing materials market and joining forces across the industry verticals to recover and thrive in the post pandemics forecasted demand.

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Biocompatible 3D Printing Materials Market Dynamics

Growing pharmaceutical industries & technological developments

Growing pharmaceutical industries, growing demand for biocompatible 3D printing materials, particularly in the implants and prosthesis application, mass customization of biocompatible 3D printing materials, reduced production time, and specifically tailored products are the main drivers for market growth in the global biocompatible 3D printing materials market over the forecast period. Furthermore, due to an increase in research and development in new medical applications throughout the world, the market size is expected to expand. This is also expected to boost investment opportunities for global manufacturers in the next years.

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Biocompatible 3D Printing Materials Market Segment Analysis

The Biocompatible 3D Printing Materials market is segmented by type, by application, & by region.

Insights by Type

Base on the type the biocompatible 3D printing materials market is bifurcated into polymer, metal, and others. In the year 2020, the polymer segment accounted for the largest revenue share and registered ~34% of the market in eh type segment. The growth was accounted for growing polymer demand owing to its low cost, degradable, and ease to mold. Its use in several applications such as surgical guides, prototyping, hearing aids, and tissue engineering.

Insights by Application

Based on application the biocompatible 3D printing materials market is segmented into tissue engineering, implant & prosthetics, and hearing aids. Tissue engineering is the application sector with the largest share of the global biocompatible 3D printing materials market. The expansion of research and development on bio fabrication of body parts and organ printing, as well as the rising incidences of tissue or organ failure owing to age, illnesses, accidents, and congenital anomalies, are driving the growth of this market.

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Biocompatible 3D Printing Materials Market Regional Analysis

North America capture the largest market share in the year 2020 and is projected to hold the leading position over the forecast period owing to increasing government funding in 3D printing, well-established research and development facilities, emerging market players in the region, and a strong economy to support research finance.

Asia-Pacific is estimated to have the highest CAGR in the market during the forecast period. Manufacturers are investing in the development of biocompatible 3D printing materials, and growing healthcare awareness, as well as increased demand for biocompatible 3D printing materials in countries such as China, India, and Japan, are expected to drive market expansion.

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Competitive Insights

The market is highly competitive in nature and key market players are focusing on leveraging R&D, new product development, joint ventures, mergers, acquisitions, and partnerships to gain a competitive edge in the market.

Major companies in the biocompatible 3D printing materials market include:

• Formlabs, Inc
• 3D Systems, Inc.
• Evonik Industries AG
• Stratasys Ltd.
• Concept Laser GmbH
• Eos GmbH Electro Optical Systems
• Renishaw Plc
• Envisiontec, Inc.
• 3D Composites
• Aspect Biosystems Ltd.
• Others (15+ Companies are profiled in the final report)

Recent Market Developments:

• June 2020: Formlabs launched six new materials across Form 3B, Form 2 SLA, Form 3. This enables the company to expand the use cases of resin in the 3D printing segment further acting as the catalyst for the market share growth and caters segments such as healthcare, dental, manufacturing, and product designing

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Biocompatible 3D Printing Materials Market Report Coverage

Global Biocompatible 3D Printing Materials Market, by Type

• Polymer
• Metal
• Others

Global Biocompatible 3D Printing Materials Market, by
Application

• Tissue Engineering
• Implant & Prosthetics
• Hearing Aids

Global Biocompatible 3D Printing Materials Market, by Region

• North America
  • US
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • South Korea
  • Japan
  • India
  • China
  • Australia
  • Malaysia
• Middle East & Africa
  • Saudi Arabia
  • United Arab Emirates
  • South Africa
• South America
  • Brazil
  • Argentina