The biocompatible 3D printing materials market is projected to register a CAGR of 22.0%, in terms of value, between 2018 and 2023
LONDON, Sept. 13, 2018 /PRNewswire/ -- The biocompatible 3D printing materials market is projected to register a CAGR of 22.0%, in terms of value, between 2018 and 2023.
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The biocompatible 3D printing materials market size is estimated to be USD 308.1 million in 2018 and is projected to reach USD 832.7 million by 2023, at a CAGR of 22.0% between 2018 and 2023. The increasing demand for biocompatible 3D printing materials in medical applications is one of the most significant factors driving the biocompatible 3D printing materials market. 3D printing is a process used for creating objects directly, by adding materials layer by layer in a variety of ways, depending on the technology used. 3D printing technologies are developed to encourage and drive innovations with unique design freedom; these technologies are tool-less processes that reduce the excessive costs and lead times. By using biocompatible 3D printing materials, various components of a structure can be designed. The high cost of materials is restraining the mass adoption of the 3D printing technology in various applications.
The polymer type segment is projected to dominate the overall biocompatible 3D printing materials market during the forecast period.
Polymer materials can be used in orthopedic & dental implants, hearing aids, drug delivery, prosthesis, tissue engineering scaffolds, and other medical applications.These materials are easily moldable, biocompatible, biodegradable, and cheaper as compared to metal and bioink.
Thus, the biocompatible 3D printing polymer market is projected to register a high CAGR during the forecast period.
The biocompatible 3D printing materials market in the tissue engineering application is projected to register the highest CAGR during the forecast period.
Tissue engineering is a broad term which can be further segmented into applications such as 3D cell culture, bone regeneration, drug release, soft tissue fabrication, 3D tissue constructs, and others. The increasing cases of tissue or organ failure due to age, diseases, accidents, and congenital disabilities are a serious medical problem, globally. 3D printing with biocompatible materials can solve these problems by elevating the need for donors and tissue match. Tissue engineering is estimated to be the fastest-growing application during the forecast period because of the growing research and investments made on bio fabrication of body parts and organ printing.
The biocompatible 3D printing materials in the powder form is projected to register the highest CAGR during the forecast period.
On the basis of form, the biocompatible 3D printing materials market is classified into powder, liquid, and others.Powder is the leading form in the global biocompatible 3D printing materials market.
Powder form is compatible with several 3D printers and hence is used in medical applications such as implants & prosthesis, bio fabrication, and surgical instruments.
The biocompatible 3D printing materials market in APAC is projected to register the highest CAGR between 2018 and 2023.
The biocompatible 3D printing materials market in APAC is projected to register the highest CAGR during the forecast period.This growth can be attributed to the increasing demand for biocompatible 3D printing materials in China, Japan, South Korea, and others countries.
The growth of the biocompatible 3D printing materials market in APAC is mainly due to the rising geriatric population, increasing focus of major players on emerging Asian countries, rising awareness about healthcare, and willingness of people to spend more on advanced medical treatments.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted. The breakdown of primary interviews by company type, designation, and region is given below:
• By Company Type- Tier 1 - 10%, Tier 2 - 25%, and Tier 3 - 65%
• By Designation- C level - 10%, Director level - 30%, and Others - 60%
• By Region- APAC - 45%, North America - 20%, Europe - 15%, Latin America - 11%, and MEA- 9%
This report provides a comprehensive analysis of key companies listed below:
• 3D Systems, Inc. (US)
• Evonik Industries AG (Germany)
• Stratasys Ltd. (Israel)
• Concept Laser, GmBH (Germany)
• EOS GmBH Electro Optical Systems (Germany)
• Renishaw PLC. (UK)
• Formlabs, Inc. (US)
• EnvisionTEC, Inc. (Germany)
• 3D Composites (US)
• Aspect Biosystems Ltd. (Canada)
Research Coverage
This report covers the biocompatible 3D printing materials market and forecasts the size of the market till 2023.The report segments the biocompatible 3D printing materials market based on type, form, application, and region.
The Porter's Five Forces analysis and key market dynamics such as drivers, restraints, challenges, and opportunities influencing the growth of the biocompatible 3D printing materials market have been discussed in the report. The report also provides company profiles of major players operating in the biocompatible 3D printing materials market.
Benefits of Buying the Report:
The report is expected to help market leaders/new entrants in the biocompatible 3D printing materials market in the following ways:
• This report segments the biocompatible 3D printing materials market and provides the closest approximation of revenues for the overall market and its subsegments across different verticals and regions.
• The report helps stakeholders understand the pulse of the market and provides information on key drivers, restraints, challenges, and opportunities for the biocompatible 3D printing materials market.
• This report is also expected to help stakeholders understand their competitors and gain insights into improving their position in the biocompatible 3D printing materials market. The competitive landscape section includes an ecosystem of competitors and detailed information on new product developments, expansions, agreements, partnerships, and acquisitions.
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