WASHINGTON, Feb. 24, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Biocompatible 3d Printing Materials market finds that increasing demand for biocompatible 3D printing materials in medical application is expediting market growth. The market growth is attributed to increasing adoption of 3D printing in new medical applications, as well as increasing government investments. Total Global Biocompatible 3d Printing Materials market is estimated to reach USD 1283.1 Million by 2028.
The Market stood at a revenue of USD 552.3 Million in the year 2021, and is expected to grow at a Compound Annual Growth Rate (CAGR) of 25.1%.
Furthermore, Adoption of 3D printing technology in bio printing organs, is projected to augment growth of the global Biocompatible 3d Printing Materials market, states Vantage Market Research, in a report, titled “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)”.
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Market Dynamics:
Increasing Demand for Biocompatible 3D Printing Materials
3D printing is evolving rapidly, and the materials used are becoming increasingly complex. Expanding beyond rigid plastic filament to more advanced materials like rubber-like filament, metal-infused filaments, waxes for casting (e.g. jewelry or laboratory tools), and photopolymer resins for stereolithography (SLA) 3D printing which offer greater flexibility in design options, improved structural properties, and customizability of objects made with them are indicative of this growth spurt. Yet one area that has yet to be truly tapped is biocompatible 3D printing material. It's not just medical companies who can benefit from these applications; an entire subset of the growing desktop market could find use for biomaterials in 3D printing. Thus, increasing demand for biocompatible 3D printing materials further propelling the market growth over the forecast period.
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Increasing Application of Biocompatible 3D Printing Materials in Implants & Prosthesis
The prosthetic industry has struggled for years to make artificial limbs that are not only lifelike but also comfortable for patients to wear 24-hours a day without pain or irritation. It is often the small details that make all the difference, and this is where biomaterials could potentially help. For instance, many traditional plastics used in prosthetics are rigid and uncomfortable; even specially designed materials like silicone can cause rashes or skin irritations under certain conditions. Biomaterials offer solutions here by imparting greater flexibility to polymers than conventional synthetic materials, which allows products made with these compounds to better contour to the body's unique anatomy without sacrificing structure. Thus, consequently; increasing consumer preferences towards biocompatible 3D printing material implants & prosthesis is increasing the demand for biocompatible 3D printing material further propelling the market growth.
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
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The Report on Biocompatible 3d Printing Materials Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
North America Dominates the Global Biocompatible 3d Printing Materials Market
North America has dominated the global biocompatible 3D printing materials market in 2021 and is likely to continue the same trend during the forecast period. The market growth in the region is attributed to factors such as, higher technological and presence of major players in the region. Additionally, the the investment from government as well as major players is increasing further fuelling the market growth over the forecast period.
Asia Pacific is likely to witness fastest growth in the biocompatible 3D Printing Materials market during the forecast period. The market growth in the region is attributed to factors such as, increasing demand for biocompatible 3D printing materials in developing nations. Additionally, rising healthcare spending is further propelling the market growth in the region.
List of Prominent Players in the Biocompatible 3d Printing Materials Market:
- 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)
- Hoganas AB (Sweden)
Browse market data Tables and Figures spread through 145 Pages and in-depth TOC on "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)" View detailed Research Report here –
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Biocompatible 3d Printing Materials Market?
- How will the Biocompatible 3d Printing Materials Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Biocompatible 3d Printing Materials Market?
- What is the Biocompatible 3d Printing Materials market drivers and restrictions?
- What will be the CAGR and size of the Biocompatible 3d Printing Materials Market throughout the forecast period?
Recent Developments:
October 2019: 3D Systems and Antleron Collaborating to Accelerate 3D Printing Biomedical Breakthroughs.
October 2021: 3D Systems and United Therapeutics Announce Expansion of Bioprinting Program.
This market titled “Biocompatible 3d Printing Materials Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Report Attribute | Details |
| Market Size in 2021 | USD 552.3 Million |
| Projected Market Size in 2028 | USD 1283.1 Million |
| CAGR Growth Rate | CAGR of 25.1% From 2022 - 2028 |
| Base Year | 2021 |
| Historic Years | 2016 - 2020 |
| Forecast Years | 2022 - 2028 |
| Segments Covered | Type
|
| Quantitative Data - Units | Revenue in USD Million/Billion and CAGR from 2022 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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