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The global biocompatible 3D printing materials market size is poised to grow by USD 618.31 million during 2019 to 2023, according to a new report by Technavio, progressing at a CAGR of close to 22% during the forecast period. The growing preference for additive manufacturing is projected to augment the market over the forecast period.

Key suggestions from the report:

·         Polymer segment represented more than 71% of the overall volume in 2018 owing to the design flexibility, easy availability, and durability of polymers.

·         Metal segment is likely to register a CAGR of more than 20% in terms of revenue from 2019 to 2023 on account of excellent sterilization and the ease of fabrication of metals to produce medical components.

·         The North-American biocompatible 3D printing materials market accounted for more than 46% of the overall revenue in 2018, owing to the significant investments in the medical industry, and the presence of medical device manufacturing bases in the US.

·         The biocompatible 3D printing materials market is moderately fragmented with a large number of players occupying the market share. In addition, the increase in strategic alliances is expected to impact the competitive landscape of this market.

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Additive manufacturing has gained immense popularity over the last few years as it helps in producing complex engineering structures in the healthcare industry. Biocompatible 3D materials enable excellent flexibility and low production costs to produce parts. In addition, they can help in producing plants with reduced assembly time and less material wastage. Thus, the growing preference for additive manufacturing is likely to fuel the growth of biocompatible 3D printing materials.

The demand for silicone in additive manufacturing is increasing significantly owing to its biocompatibility, chemical resistance, durability, and production design flexibility. These factors make silicone a suitable material to produce medical products, such as surgical instruments, and dental caps. Thus, the growing demand for silicone in additive manufacturing is expected to be one of the key biocompatible 3D printing materials market trends that will fuel market growth.

There are several challenges involved in additive manufacturing which are associated with quality, size, and scalability of product parts and limited multi-material printing capabilities. Conventional manufacturing systems still have a competitive advantage over additive manufacturing to produce large components for various end-user industries, including automobile, medical, and aerospace. Thus, the challenges associated with additive manufacturing may hamper the growth of the biocompatible 3D printing materials market.

Technavio has segmented the global biocompatible 3D printing materials market based on the type (polymer, metal, and others) and region (APAC, Europe, North America, South America, and MEA).

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200