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Report Overview: Medical 3D Printing Plastics MarketThe global medical 3D printing plastics market size was valued at USD 198.0 million in 2020 and looks set to grow at a compound annual growth rate (CAGR) of 15.5% from 2021 to 2027. The growing aging population, increasing healthcare awareness, and the COVID-19 pandemic situation are some of the major factors driving the market for medical 3D printing plastics. The market is primarily driven by rising demand for face mask, head and shoe cover, surgical mask and gloves, personal protective gowns, and various other products in tackling the COVID-19 pandemic situation. Besides personal protective wearables, medical 3D printing plastics are widely used in the manufacturing of medical products, such as dental and bone implants, catheters, prosthetics, and various other medical devices. 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. 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 2021-2027. Type Insights In terms of volume, photopolymer lead the market with a share of 48.05% in 2019. 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 generate the demand for medical 3D printing plastics over the forecast period.
Form Insights: Medical 3D Printing Plastics MarketIn terms of volume, filament lead the market with a share of 74.91% in 2019. Increasing utilization of medical 3D printing plastics to produce a wide range of healthcare products, such as specialized surgical tools in reusable and single-use medical devices, is boosting the segment growth. Filament form can be used in various 3D printing processes, including fused deposition modeling (FDM), stereolithography (SLA), selective laser sintering (SLS), and electron beam melting (EMB), based on the type of nozzle. Medical 3D printing plastics such as ABS, PEEK, PETG, photopolymer, polyamide, polylactic acid are primarily used in filament form in the 3D printing process. The filament form of 3D printing plastics can be widely used in other applications, such as automotive, aerospace and defense, electrical and electronics, and consumer goods, based on the specific requirement. Powder form of medical 3D printing plastics produces components that possess properties, such as ductility, shock resistance, and elasticity. Powder form of 3D printing material is primarily used in selective laser sintering process. Components produced using powder, along with selective laser sintering, have high dimensional accuracy and no post-processing. Moreover, components with thin walls and complex shapes can be produced very easily.
Regional Insights: Medical 3D Printing Plastics MarketNorth America lead the market for medical 3D printing plastics with a volume share of 44.89% in 2019. This is attributed to various factors such as rising awareness among the consumers, increasing healthcare spending, and growing demand for disposable plastics. The main products driving the demand for plastics include masks, surgical gloves, orthopedic sutures, inhalation masks, and catheters. In addition, rapidly rising COVID-19 positive cases in the U.S. are expected to result in an increased demand for generic drugs and medical devices, which is driving the demand for medical 3D printing plastics, thereby positively influencing the market growth in the region over the forecast period. Asia Pacific is expected to expand at the fastest CAGR of 22.5% in terms of volume from 2020 to 2027. The regional market is majorly driven by growing demand from developing economies, such as China, India, and Malaysia. The countries in Asia Pacific are investing in the healthcare industry owing to the rising population, GDP growth, which has positively impacted the living standards, and rising healthcare awareness among the consumers. Moreover, the growing elderly population, along with other factors, is expected to generate the demand for medical 3D printing plastics over the forecast period.
Key Companies & Market Share Insights: Medical 3D Printing Plastics MarketMost 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:
Key companies Profiled: Medical 3D Printing Plastics Market Report
Table of Contents Chapter 1. Methodology and Scope 1.1. Market Segmentation & Scope 1.2. Market Definition 1.3. Information Procurement 1.3.1. Purchased Database(Statista, FactSet, Bloomberg, SDC Platinum) 1.3.2. IFF Internal Database 1.3.3. Secondary Sources & Third-Party Perspectives 1.3.4. Primary Research 1.4. Information Analysis 1.4.1. Data Analysis Models 1.5. Market Formulation & Data Visual | read more...