The global biocompatible 3D printing materials market size is expected to showcase a strong growth rate during the forecast period of 2023-2030. Biocompatible 3D printing materials are highly compatible with the physiology of the human body. This means that they do not react adversely once they come in contact with the living tissues. This factor helps healthcare professionals determine the success of a medical device or accessory inserted inside a patient’s body for medical purposes. The growing use of biocompatible materials, such as polymers and metals to make hearing aids and other implants is expected to fuel the biocompatible 3D printing materials market growth.
Fortune Business Insights presents this information in a report titled “Biocompatible 3D Printing Materials Market, 2023–2030.”
COVID-19 Impact
COVID-19 Pandemic Slumped Market Growth Due to Supply Chain & Trade Disruptions
The COVID-19 outbreak negatively impacted the market progress as supply chain and trade activities were severely disrupted due to the imposition of trade restrictions and lockdowns. Many surgeons chose to postpone or cancel their surgical appointments to prioritize the treatment of COVID-19-positive patients. Moreover, governments across the world did not include elective surgeries in the list of critical treatments, which further slowed the market development.
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Segments:
By type, the market is divided into polymers, metals, and others.
By application, the market is segmented into implants & prosthesis, tissue engineering, prototyping & surgical guides, and hearing aids.
With respect to geography, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage:
The report analyzes the market in detail and highlights many important areas, such as top material types, applications, and key players in the market. It also gives critical insights into the latest market trends and prominent industry developments. Besides the factors mentioned above, the report delves into several other factors that have accelerated the market’s progress in recent years.
Drivers & Restraints:
Rising Demand for Customized Biocompatible Materials to Fuel Market Progress
One of the major factors that is boosting the popularity of biocompatible 3D printing materials is their customizability. These materials can be customized by medical professionals to make a wide range of complex healthcare devices that are used during orthopedic and cardiac surgeries. They can also be used to manufacture scaffolds for tissue engineering and hearing aids. These widespread applications will increase the demand for biocompatible 3D printing materials in the healthcare sector.
However, stringent regulatory requirements and high cost of manufacturing might hinder the market progress in the future.
Regional Insights
North America to Dominate Market Due to Presence of Key Market Players
North America has captured the largest global biocompatible 3D printing materials market share as the region has a vast presence of key market players. Moreover, the demand for these products is high in this region.
Europe has also accounted for a major market share due to innovations in the region’s medical sector and the growing presence of reputed companies operating in this market.
Asia Pacific is emerging as the fastest growing region in the global market as the region’s healthcare sector is undergoing major changes to incorporate advanced technologies and materials to treat chronically ill patients.
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Competitive Landscape
Key Market Players to Increase Focus On New Product Launches and Partnerships to Remain Competitive
3D Systems, Inc., Stratasys Ltd., Renishaw PLC, EOS GmbH, Evonik Industries AG, Concept Laser Inc., EnvisionTEC Inc., Aspect Biosystems Ltd., and Formlabs Inc., among many others, are the key market players. These companies are focusing on launching new products to increase their customer base. They are also entering long-term partnerships to expand their market presence and remain competitive.
Key Industry Development
- October 2022: EOS GmbH revealed that it had inked a Memorandum of Understanding (MoU) with Doosan Enerbility Cooperation to support and accelerate the development of innovative technologies.
- July 2022: EOS GmbH launched 4 new metal-based materials to facilitate Additive Manufacturing (AM) on the EOS M 290 metal system. These materials include two stainless steels, one nickel alloy, and one tool steel.
Major Players Profiled in the Report:
- 3D Systems, Inc. (U.S.)
- Stratasys Ltd. (Israel)
- Renishaw PLC (U.K.)
- EOS GmbH (Germany)
- Evonik Industries AG (Germany)
- Concept Laser Inc. (Germany)
- EnvisionTEC Inc. (U.S.)
- Aspect Biosystems Ltd. (Canada)
- Formlabs Inc. (U.S.)