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(Medical-NewsWire.com, November 02, 2018 ) According to the new market research report ''Biocompatible 3D Printing Materials Market by Type (Polymer, Metal), Application (Implants & Prosthesis, Prototyping & Surgical Guides, Tissue Engineering, Hearing Aid), Form (Powder, Liquid), and Region - Global Forecast to 2023", published by MarketsandMarkets™, the biocompatible 3D printing materials market is projected to grow from the estimated USD 308.1 million in 2018 to USD 832.7 million by 2023, at a CAGR of 22.0% between 2018 and 2023.
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The demand for biocompatible 3D printing materials, particularly in the implants & prosthesis application, has increased gradually. The tissue engineering application is expected to witness the highest growth during the forecast period.
The biocompatible 3D printing polymer market is projected to register the highest CAGR during the forecast period.
The polymer segment accounted for the majority share in the biocompatible 3D printing materials market, in terms of value and volume, in 2017. Biocompatible polymer used in 3D printing constitute polylactic acid (PLA), polycaprolactone (PCL), nylon, polycarbonate, polyamide, cellulose, polypropylene, poly (methyl methacrylate) (PMMA), resins, photopolymers, and various other polymers. These polymers are cheaper, easily moldable, and degradable. They are used in a wide array of applications such as hearing aids, tissue engineering, prototyping, and surgical guides.
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The implants & prosthesis application is expected to lead the overall biocompatible 3D printing materials market during the forecast period.
The implants & prosthesis application dominated the overall biocompatible 3D printing materials market, in terms of value and volume, in 2017. Biocompatible 3D printing materials such as polymer and metal are widely used in dental and maxillofacial implants & prosthesis applications. These materials reduce rejection rates. Moreover, 3D printing with a biocompatible material provides superior surface geometry and increases the survival rate of implants & prosthetics over traditional products.
North America is estimated to be the largest biocompatible 3D printing materials market in 2018.
North America includes the US and Canada. The country has a well-built infrastructure, state-of-the-art technologies, and a strong economy to support research funding and marketing of biocompatible 3D printing materials. North America accounted for the majority share in the global biocompatible 3D printing materials market, in terms of value, in 2017. The country has undertaken substantial research with regard to healthcare to reduce the cost of various medical applications. With government support and key market players, such as Stratasys and 3D Systems headquartered in the US, North America accounted for the largest market share, globally.
Powder was the largest form of biocompatible 3D printing materials in 2017.
Powder is the leading form in the global biocompatible 3D printing materials market. Powder form is compatible with many 3D printers and hence is used in medical applications such as implants & prosthesis, tissue engineering, and surgical instruments.
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Major players operating in the biocompatible 3D printing materials market include 3D Systems, Inc. (US), Evonik Industries AG (Germany), Stratasys Ltd. (US), Concept Laser, GmBH (Germany), EOS GmBH Electro Optical Systems (Germany), Renishaw PLC. (UK), Formlabs Inc. (US), EnvisionTEC, Inc. (Germany), 3D Composites (US), and Aspect Biosystems Ltd. (Canada). These companies have a strong presence in the biocompatible 3D printing materials market and are continuously undertaking efforts to improve their business strategies and product portfolios.
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