Biocompatible 3D Printing Materials Market: Key Highlights
The global biocompatible 3D printing materials market was valued at ~US$ 318 Mn in 2018, and is anticipated to expand at a CAGR of ~16% from 2019 to 2027.
The usage of 3D printing in the medical industry is expected to rise during the forecast period, due to the various advantages offered by 3D printing over traditional printing.
Increase in the adoption of 3D printing in the medical industry is estimated to boost the demand for biocompatible 3D printing materials during the forecast period.
Key Drivers of Biocompatible 3D Printing Materials Market
3D printing is rapidly becoming the preferred manufacturing technology for certain medical applications. 3D printing technology offers higher competitive advantages over traditional manufacturing techniques in the medical industry.
3D printing facilitates the easy production of orthopedic implants, dental devices, surgical guides, anatomical models, medical tools, prostheses, and custom enclosures. It is also employed in the printing of organs, bone regeneration, and drug release.
The possibility of mass customization, i.e. production of highly-customized products, with the added advantage of low-cost production is also projected to boost the adoption of 3D printing in the medical industry. This is estimated to drive the demand for biocompatible 3D printing materials during the forecast period.
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Prototypes & Surgical Guides Application Projected to Offer Lucrative Opportunities
3D printing is widely used for the rapid prototyping and creation of anatomical models. It is also used to produce surgical guides, which are gaining popularity due to advancements in guided surgical procedures. Surgical guides are used in guiding the insertion and proper positioning of implants.
The prototyping & surgical guides segment is anticipated to expand at a fast pace during the forecast period, due to the efficiency they provide in surgeries. Accurately printed customized surgical guides are employed for the insertion of implants during surgeries.
Lack of Compatibility with Printers and High Material Cost Likely to Hamper Market
Currently used 3D printing technologies are compatible only with certain materials. For instance, some technologies utilize materials in the powdered form, while others use the liquid form. Therefore, the printer setup cannot switch between materials.
3D printers are incapable of using all materials uniformly. Furthermore, it is difficult to manufacture components involving two different materials using the same printer.
The costs of raw materials vary depending upon the raw materials used. For instance, metal powders cost roughly two to three times more than polymer powders, while filaments cost much lower than other forms of biocompatible 3D materials. The cost of 3D printing using biocompatible materials also varies depending on the process. For instance, the cost of materials for selective laser sintering (SLS) stands at approximately US$ 500 to 525 per kg. Costs are also high for processes such as multi-jet modelling and binder jet techniques. However, fused deposition modelling, which uses filaments, may cost around US$ 50 to US$ 60 per kg.
The 3D printing of metals is expensive, as they need high temperatures for melting. Laser processing is energy-intensive and can account up to 80% of the feedstock costs. These factors are likely to restrain the adoption of biocompatible 3D printing materials during the forecast period.
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Asia Pacific Rapidly Growing Region of Biocompatible 3D Printing Materials Market
Asia Pacific is anticipated to be a highly attractive region in the global biocompatible 3D printing materials market during the forecast period. The biocompatible 3D printing materials market in the region is anticipated to expand at a rapid pace during the forecast period. The biocompatible 3D printing materials market in Asia Pacific is in the initial stage of development. Increase in the focus on research and development of new materials is observed in the region. The demand for biocompatible 3D printing materials is expected to be high in China, India, South Korea, Indonesia, and Malaysia during the forecast period.
China dominated the biocompatible 3D printing materials market in Asia Pacific in 2018. The demand for biocompatible 3D printing materials is estimated to rise at a rapid pace in the country, due to continuous efforts by the government to promote the use of 3D printing in medical applications. Researchers in China are focused on developing bio-inks for organ printing.
The demand for biocompatible 3D printing materials in India is projected to increase at a rapid pace during the forecast period. Recently, EOS GmbH Company collaborated with Central Scientific Instruments Organization (CSIO), India, to use 3D printing to customize metal 3D printed implants for a facial trauma patient. Such collaborations are likely to boost the adoption of 3D printing in medical applications in the country during the forecast period. China and India are expected to lead the demand growth for biocompatible 3D printing materials in Asia Pacific during the forecast period.
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Top Five Players Accounted for Major Share of Biocompatible 3D Printing Materials Market in 2018
The global biocompatible 3D printing materials market is consolidated. Currently, the biocompatible 3D printing materials market is expanding. Key players are focusing on research & development activities. The top five players – 3D Systems, Inc., Stratasys Ltd., EOS GmbH, Concept Laser Inc. and Envisiontec Inc. – cumulatively accounted for ~50% share of the global biocompatible 3D printing materials market in 2018. The global biocompatible 3D printing materials market is dominated by 3D Systems, which is the largest manufacturer of biocompatible 3D printing materials across the globe.
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