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Biocompatible 3D Printing Materials Market Size Worth $618.31 Million by 2023

Added: (Mon Jul 22 2019)

Pressbox (Press Release) - 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.
Read a 118-page research report with TOC on "Biocompatible 3D printing materials Market Analysis Report by type (polymer, metal, and others) and segment forecasts for 2019 to 2023" at
https://www.technavio.com/report/global-biocompatible-3D-printing-market-industry-analysis

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).
Related Reports on Materials Market are:
Polymer Binder Market – Global polymer binder market report provides a detailed analysis of the market by application (architectural coatings, adhesives and sealants, textile and carpets, paper and board, and others) and region (APAC, Europe, MEA, North America, and South America).
Inorganic Fiber Market– Global inorganic fiber market report provides a detailed analysis of the market by type (glass fiber, silicon carbide, boron, carbon fiber, and others) and geography (APAC, Europe, MEA, North America, and South America).
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com
media@technavio.com.

Submitted by:Jesse Maida
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