Biocompatible 3D Printing Materials Market is Expected to Rise at an 18.4% CAGR, is Slated to Reach USD 19.7 billion by 2031: TMR Report

Wilmington, Delaware, United States, Aug. 10, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global market for biocompatible 3D printing materials was estimated to have garnered a global market valuation around US$ 4.3 billion in 2022. The market is anticipated to grow with a robust 18.4% CAGR from 2022 to 2031 and by 2031, the market is likely to gain US$ 19.7 billion.

In the healthcare sector, the use of biocompatible materials has significantly risen, particularly for applications like scaffolds, implants, and tissue engineering. In the next years, there will likely be an increase in the use of surgeries, implants, and other medical operations, which will increase the need for biocompatible materials for 3D printing.

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Global Biocompatible 3D Printing Materials Market: Key Players

The market for biocompatible 3D printing materials is extremely concentrated, with a few significant producers holding the lion's share of the industry. The majority of businesses invest a lot on thorough research and development, especially to produce environmentally friendly products. Key players frequently use mergers and acquisitions as well as product portfolio expansion. The major players in the market include 3D Systems, Inc., Envisiontec, Inc., Renishaw plc, Evonik Industries AG, EOS GmbH, Concept Laser, Inc., and Stratasys Ltd.

Some developments by the key players in the global market for biocompatible 3D printing materials are:

• On April 14, 2022, Sandvik revealed the addition of 3D-printed biocompatible materials in cemented carbide to their offering for additive manufacturing. A unique method combined with custom-made powder created on-site allows for the increased capacity.
• Leading 3D printing business Formlabs revealed on November 29, 2020 that it has created two novel biocompatible materials that will debut at RSNA 2021. The BioMed Black Resin as well as BioMed White Resin are intended for use in settings where opaque materials are required for their usability or aesthetic appeal.
• New materials were introduced on November 19, 2019, by 3D Systems. These materials are anticipated to provide new production options that will be widely adopted by industry. The best-in-class high heat deflection temperature (HDT) as well as USP Class VI biocompatibility criteria of VisiJet M2S-HT90 make it the perfect choice for applications in the consumer goods, automotive, and healthcare industries.
  

To effectively develop dental equipment using 3D printing technology, one must take into account the mechanical qualities of biocompatible materials. A poor material selection might result in breakage or significant deformation, which would impair the functionality of the created item. New biocompatible materials are being used in CAD/CAM technologies, and production processes are becoming more accurate and quicker. There is a thus an increasing demand for biocompatible 3D printing.

Key Findings of the Market Report

• In 2021, the metals category had a more than 60% market share.
• In 2021, the powder market maintained a share of more than 48%.
• In 2021, the value shares of the markets in Europe and Asia Pacific, respectively, were 31.5% and 22.0%.
  

Market Trends for Biocompatible 3D Printing Materials

• By form, the market for biocompatible 3D printing materials was led by the powder sector. Compared to liquid, powder is the form of biocompatible 3D printing materials that is most frequently utilized. Using the fused deposition model (FDM) and stereolithography (SLA) processes, polymers are typically extruded into filaments for 3D printing.
• During the projection period, the powder sector is anticipated to gain market share. During the projection period, the category is anticipated to grow at a notable CAGR of 16.4%.
• By product, the market for biocompatible 3D printing materials was led by the metals category. Implants along with other orthopedic items are printed using 3D technology using metals with strong corrosion resistance, sterilization capabilities, and biocompatibility. During the projection period, the category is anticipated to grow at a remarkable CAGR of 16.1%.
  

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Biocompatible 3D Printing Materials Regional Market Outlook

• The market for biocompatible 3D printing materials is currently dominated by North America. This is explained by the substantial need for biocompatible 3D printing materials in the region's tissue engineering, cosmetic surgery, and implant applications. North America has a mature economy and technological capability. People are more likely to choose pricey, complex medical treatments as a result.
• Europe and the Asia-Pacific region are also significant markets for biocompatible 3D printing materials in terms of volume.
• Middle East & Africa has a bigger market than Latin America for biocompatible 3D printing materials, nevertheless throughout the projection period, the market in Latin America is anticipated to increase at a faster rate.
  

Global Biocompatible 3D Printing Materials Market Segmentation

• Product
  • Polymers
    • Polylactic Acid (PLA)
    • Acrylonitrile Butadiene Styrene (ABS)
    • Polypropulenes
    • Polyamides
    • Polycarbonates
    • Photopolymers
    • Others
  • Metal
    • Titanium
    • Stainless Steel
    • Others
  • Others (Ceramics and Composites)
• Form
  • Powder
  • Liquid
  • Others
• Application
  • Implants & Prostheses
  • Prototyping & Surgical Guides
  • Tissue Engineering
  • Hearing Aids
  • Others
• Region
  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

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