The biocompatible 3D printing materials
market is expected to grow at a CAGR of 26.15% over the forecast period of
2017- 2023. The growth of this market is majorly attributed to the growth of
healthcare industry worldwide. Huge investments being funneled by major
healthcare providers into new technologies, which can aid them in delivering
enhanced patient care, is increasing the adoption of biocompatible 3D printing
materials for use in various applications such as implants, prostheses, tissue
engineering, and hearing aids among others. Rapid growth of medical tourism in
many regions across the globe is another major factor driving the market
growth. Number of medical tourists globally has gone up to more than 10.5
million and this number is increasing at an impressive rate as the governments
continue to extend their support to this sector. For instance, besides offering
fiscal incentives for the development of medical tourism in India, the
government of India is implementing various strategies to strengthen the Indian
medical tourism industry. The government funds road shows, focusing on medical
tourism, at various locations around the globe from time to time. Growth of
medical tourism is pushing the healthcare providers at key destinations to
adopt state-of-the-art technologies in order to offer highest levels of patient
satisfaction. This is increasing the adoption of various products manufactured
using biocompatible 3D printing materials, thus boosting the growth of the
market.
By type, the biocompatible 3D printing materials market has been segmented as
plastic and metal. Plastic holds a significantly large share in this market on
account of widespread adoption of this material by various healthcare solution
manufacturers. Various 3D printing processes have been in trend, which are
compatible with plastics. Metals are anticipated to show a good growth over the
projected period. The growth of metals will majorly be driven by growing
adoption of biocompatible metal-based 3D printed solutions in industries like
automotive and aerospace. Investments into research and development by many solution
manufacturers will further fuel the adoption of this material, thus driving the
market growth.
Based on application, the biocompatible 3D printing materials market has been
segmented into medical, automotive and aerospace. Medical applications hold the
largest share in this market. Rapid growth of global healthcare industry and
impressive growth of medical tourism in many regions across the globe are
driving the growth of this market in this application. The market for these
materials in aerospace and automotive applications can be expected to pick up
pace over the projected period on account of huge investments by industry
players into research and development.
Geographically, the biocompatible 3D printing materials market has been
segmented into North America, South America, Europe, Middle East and Africa,
and Asia Pacific. North America and Europe hold a significantly large share in
this market on account of flourishing industries like healthcare, automotive
and aerospace in these regions. State-of-the-art research facilities in these
regions and investments by various industry players into new technologies are
further supporting the growth of the market. The market in Asia Pacific is
anticipated to show a rapid growth over the forecast period. The growth will
majorly be attributed to rapidly growing medical tourism in many countries in
this region. India, for instance, is one of the top 10 destinations for medical
tourism. Increasing investments by key players in healthcare, aerospace and
automotive industry in this sector will also contribute to the market growth in
this region over the projected period.
Major industry players profiled as part of the report are Prodways Group,
EnvisionTEC, Stratasys Ltd., NextDent B.V., 3D Systems, Inc., Rapid Processing
Solutions Inc., Formlabs, Inc. and SCHIVO Group.
Segmentation
The biocompatible 3D printing materials market is segmented by type, 3D
printing process, application and geography.
• By Type
o Plastic
o Metal
• By 3D Printing Process
o Stereolithography (SLA)
o Digital Light Processing (DLP)
o Material Jetting
o Fused Deposition Modeling (FDM)
o Direct Metal Laser Sintering (DMLS)
o Selective Laser Melting (SLM)
• By Application
o Medical
o Automotive
o Aerospace
• By Geography
• North America
o US
o Canada
o Mexico
o Others
• South America
o Brazil
o Argentina
o Others
• Europe
o UK
o Germany
o France
o Italy
o Others
• Middle East and Africa
o Saudi Arabia
o UAE
o Israel
o Others
• Asia Pacific
o China
o India
o Japan
o Australia
o Others
Key Questions answered by the report
What is the biocompatible 3D printing materials market size from 2018 to 2023?
How are the major drivers and restraints affecting the biocompatible 3D printing materials market and the opportunities which exist for the key vendors?
Which segment and region will drive or lead the market growth and why?
A comprehensive analysis of competitive landscape and key market participants behaviour
Key strategies being adopted by vendors, with in-depth analysis of their impact on competition and market growth.
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