Medical 3D Printing Plastics Market– Statistics And Analysis & Forecast To 2027Posted by Mrudula Anil Karmarkar on June 8th, 2021 The global medical 3D printing plastics market size is expected to reach USD 1.38 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 26.6% from 2020 to 2027. Demand for medical 3D printing plastics is ascending at a prominent rate owing to the COVID-19 pandemic situation. The pandemic situation caused a sudden increase in demand for face mask and covers, gloves, head and shoes cover, and other medical devices. In terms of volume, the photopolymer type segment accounted for the largest share in the year 2020 and is anticipated to maintain its lead over the forecast years. Photopolymers are used to produce various medical components, including hearing aid, dental implants, and face mask. Components produced using photopolymer have high accuracy as well as smooth surface finish and complex shapes can be produced easily. These properties make it suitable for medical 3D printing process. Asia Pacific is anticipated to witness substantial growth over the coming years owing to various factors such as presence of government initiatives, such as Make in India, rising number of medical products manufacturers, and increasing R&D investments in the medical 3D printing plastics sector by private as well as public organizations. In addition, various medical product manufacturing companies have started looking towards India for establishing manufacturing facilities post COVID-19 pandemic situation. In order to overcome the COVID-19 pandemic situation, various automotive companies such as Ford Motor Company, General Motors Company, and Tesla have started producing masks and face covers using state of art 3D printing technology to cater to the sudden increase in demand for these products. Additionally, various fashion industry companies such as CHANEL, Burberry Limited, Guccio Gucci S.p.A., Dior, and Louis Vuitton have started producing mask and face covers, which is driving the demand for medical 3D printing plastics. Thermoplastics like PEEK, polylactic acid, and photopolymers are among the commonly utilized plastics in the medical 3D industry on account of the biodegradable nature of the material. Major technologies utilized by the medical industry for 3D printing include stereolithography (SLA), digital light processing (DLP), selective layer sintering (SLS), fused deposition modeling (FDM), electronic beam melting (EBM), and polyjet/inkjet 3D printing. Medical 3D Printing Plastics Market Report Highlights
Key factors propelling demand for medical 3D printing plastics include cost-effectiveness, ease in customization, and growing incidences of vascular and osteoarthritis diseases. Moreover, improved technology, favorable government support, and rapid product development are expected to propel the demand for medical 3D printing plastics over the forecast period. In terms of volume, photopolymer dominated the market with a share of 48.05% in 2020. This is attributed to the high demand for catheters, hearing aids, surgical masks, medical filters, drug delivery systems, and tissue engineering and cell encapsulation systems. Photopolymer possesses excellent thermo-mechanical properties, such as resistant to chemicals and high thermal accuracy, and it changes its phase from solid to liquid under the ultraviolet light. These properties make it suitable for medical 3D printing applications. ABS is widely used in the medical 3D printing process using a fused deposition modeling process. It is used to produce medical equipment, nebulizers, compressors, and various other products. ABS possesses properties, such a higher strength, flexibility, and durability. ABS can be replaced with polylactic acid as it is biodegradable whereas ABS is biocompatible. Moreover, ABS is recyclable, which make it suitable for the production of prosthetics. Rising health awareness and the growing aged population are expected to drive the demand for medical 3D printing plastics over the forecast period. Have a Query? Ask Our Expert: https://www.grandviewresearch.com/inquiry/450476/ibb Most of the key players operating in the market have integrated their raw material production and distribution operations to maintain product quality and expand regional presence. This provides companies a competitive advantage in the form of cost benefits, thus increasing the profit margins. Companies are undertaking research and development activities to develop new industrial plastics to sustain market competition and changing end-user requirements. Research activities focused on the development of new medical 3D printing materials, which combine several properties, are projected to gain wide acceptance in this industry in the coming years. Some of the prominent players in the global medical 3D printing plastics market include:
Grand View Research has segmented the global medical 3D printing plastics market on the basis of basis of type, form: Medical 3D Printing Plastics Type Outlook (Volume, Tons; Revenue, USD Million, 2016 - 2027)
Medical 3D Printing Plastics Form Outlook (Volume, Tons; Revenue, USD Million, 2016 - 2027)
About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. For More Information:www.grandviewresearch.com Like it? Share it! More by this author |