Biocompatible 3D Printing MaterialsMarket: Key Highlights
· Theglobal biocompatible 3D printing materials market wasvalued at ~US$ 318 Mn in 2018, and is anticipated toexpand at a CAGR of ~16% from 2019 to 2027.
· The usageof 3D printing in the medical industry is expected to rise during the forecastperiod, due to the various advantages offered by 3D printing over traditionalprinting.
· Increasein the adoption of 3D printing in the medical industry is estimated to boostthe demand for biocompatible 3D printing materials during the forecast period.
Key Drivers of Biocompatible 3D Printing MaterialsMarket
· 3Dprinting is rapidly becoming the preferred manufacturing technology for certainmedical applications. 3D printing technology offers higher competitiveadvantages over traditional manufacturing techniques in the medical industry.
· 3Dprinting facilitates the easy production of orthopedic implants, dentaldevices, surgical guides, anatomical models, medical tools, prostheses, andcustom enclosures. It is also employed in the printing of organs, boneregeneration, and drug release.
· Thepossibility of mass customization, i.e. production of highly-customizedproducts, with the added advantage of low-cost production is also projected toboost the adoption of 3D printing in the medical industry. This is estimated todrive the demand for biocompatible 3D printing materials during the forecastperiod.
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Prototypes & Surgical Guides ApplicationProjected to Offer Lucrative Opportunities
3D printing is widely used for the rapid prototyping and creation ofanatomical models. It is also used to produce surgical guides, which aregaining popularity due to advancements in guided surgical procedures. Surgicalguides are used in guiding the insertion and proper positioning of implants.
· Theprototyping & surgical guides segment is anticipated to expand at a fastpace during the forecast period, due to the efficiency they provide insurgeries. Accurately printed customized surgical guides are employed for theinsertion of implants during surgeries.
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Lack of Compatibility with Printers and HighMaterial Cost Likely to Hamper Market
· Currentlyused 3D printing technologies are compatible only with certain materials. Forinstance, some technologies utilize materials in the powdered form, whileothers use the liquid form. Therefore, the printer setup cannot switch betweenmaterials.
· 3Dprinters are incapable of using all materials uniformly. Furthermore, it isdifficult to manufacture components involving two different materials using thesame printer.
· The costsof raw materials vary depending upon the raw materials used. For instance,metal powders cost roughly two to three times more than polymer powders, whilefilaments cost much lower than other forms of biocompatible 3D materials. Thecost of 3D printing using biocompatible materials also varies depending on theprocess. For instance, the cost of materials for selective laser sintering(SLS) stands at approximately US$ 500 to 525 perkg. Costs are also high for processes such as multi-jet modelling and binderjet techniques. However, fused deposition modelling, which uses filaments, maycost around US$ 50 to US$ 60 per kg.
· The 3Dprinting of metals is expensive, as they need high temperatures for melting.Laser processing is energy-intensive and can account up to 80% ofthe feedstock costs. These factors are likely to restrain the adoption ofbiocompatible 3D printing materials during the forecast period.
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Asia Pacific Rapidly Growing Region of Biocompatible3D Printing Materials Market
· AsiaPacific is anticipated to be a highly attractive region in the globalbiocompatible 3D printing materials market during the forecast period. Thebiocompatible 3D printing materials market in the region is anticipated toexpand at a rapid pace during the forecast period. The biocompatible 3Dprinting materials market in Asia Pacific is in the initial stage ofdevelopment. Increase in the focus on research and development of new materialsis observed in the region. The demand for biocompatible 3D printing materialsis expected to be high in China, India, South Korea, Indonesia, and Malaysiaduring the forecast period.
· Chinadominated the biocompatible 3D printing materials market in Asia Pacific in2018. The demand for biocompatible 3D printing materials is estimated to riseat a rapid pace in the country, due to continuous efforts by the government topromote the use of 3D printing in medical applications. Researchers in Chinaare focused on developing bio-inks for organ printing.
· Thedemand for biocompatible 3D printing materials in India is projected toincrease at a rapid pace during the forecast period. Recently, EOS GmbHCompany collaborated with Central Scientific InstrumentsOrganization (CSIO), India, to use 3D printing to customize metal 3Dprinted implants for a facial trauma patient. Such collaborations are likely toboost the adoption of 3D printing in medical applications in the country duringthe forecast period. China and India are expected to lead the demand growth forbiocompatible 3D printing materials in Asia Pacific during the forecast period.
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Top Five Players Accounted for Major Share ofBiocompatible 3D Printing Materials Market in 2018
The global biocompatible 3D printing materials market is consolidated.Currently, the biocompatible 3D printing materials market is expanding. Keyplayers are focusing on research & development activities. The top fiveplayers - 3D Systems, Inc., Stratasys Ltd., EOS GmbH, Concept LaserInc. and Envisiontec Inc. – cumulatively accounted for ~50% shareof the global biocompatible 3D printing materials market in 2018.The global biocompatible 3D printing materials market is dominated by 3DSystems, which is the largest manufacturer of biocompatible 3D printingmaterials across the globe.
· 3DSystems, Inc. offers various products and solutions such as 3D printers,materials, software, and on-demand services. It has a broad portfolio ofprinting materials, including plastic, nylon, metal, composite, elastomeric,wax, polymeric dental materials, and class IV bio-compatible materials. 3DSystems, Inc. also provides precision healthcare services such as surgicalplanning, modeling, prototyping, and manufacturing. The company develops newproducts in order to maintain its leading position in the market.
