NEW YORK, April 11, 2022 /PRNewswire/ -- The Insight Partners published latest research study on 3D Printing Polymer Material Market for Medical Application Forecast to 2028 - COVID-19 Impact and Global Analysis - by Material, Application, and Geography", the market was valued at US$ 930.70 million in 2021 and is projected to reach US$ 2,253.65 million by 2028; it is expected to grow at a CAGR of 13.5% from 2021 to 2028. The growth of the market is attributed to the increasing use of 3D printing in dentistry and high demand for 3D printed hearing aids.
Get Exclusive Sample Pages of 3D Printing Polymer Material Market Size - COVID-19 Impact and Global Analysis with Strategic Insights at -https://www.theinsightpartners.com/sample/TIPRE00027712/
Report Coverage | Details |
Market Size Value in | US$ 930.70 Million in 2021 |
Market Size Value by | US$ 2,253.65 Million by 2028 |
Growth rate | CAGR of 13.5% from 2021 to 2028 |
Forecast Period | 2021-2028 |
Base Year | 2021 |
No. of Pages | 154 |
No. Tables | 56 |
No. of Charts & Figures | 71 |
Historical data available | Yes |
Segments covered | Material, and Application |
Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, |
Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, |
3D Printing Polymer Material Market for Medical Application: Competition Landscape
Evonik Industries AG; STRATASYS LTD; Formlabs; Henkel AG & COMPANY, KGAA; Arkema; BASF SE; Roboze; Bionic Production GmbH; Orion Additive Manufacturing GmbH; and Solvay S.A. are among the players operating in the global 3D printing polymer material market for medical application.
Inquiry Before Buying: https://www.theinsightpartners.com/inquiry/TIPRE00027712/
In 2020, North America held the largest share of the global 3D printing polymer material market for medical application. Factors such as the high demand for hearing aid devices because of the rise in the deaf population and wide applications of 3D printing polymer materials in the medical field drive the market growth in North America. The US is the key contributor to the growth of the 3D printing polymer material market for medical application in the region. The US is witnessing a substantially growing demand for hearing aid devices owing to the high population suffering from hearing disability, which would provide lucrative opportunities for 3D polymer material manufacturers to expand their market share in the country during the forecast period.
High Demand for 3D Printed Hearing Aids
There are various advantages of 3D printed hearing aids. The hearing aids ensure a high degree of comfort for patients, minimum fit issues, and subsequent adjustments for audiologists. An accurate fit is necessary for designs that are worn all day inside the ear. Customized hearing aids provide a better fit and also contribute to an improved auditory experience. All these advantages offered by 3D printed hearing aids have increased their use. In addition, 3D printing also results in less material used to create each hearing aid. All these various advantages offered by 3D printed hearing aids have resulted in an increasing use of 3D printed hearing aids.
The growing number of adults with hearing loss in different countries across the globe is propelling the use of hearing aids. Therefore, the high demand for 3D printed hearing aids bolsters the growth of the 3D printing polymer material market for medical application.
Asia Pacific (APAC) is anticipated to grow with the fastest CAGR at rate of 14.0% from 2021 to 2028. Asia Pacific is one of the largest end-users of 3D dental structures across the globe. The increased demand for 3D dental structures in the region can be attributed to the rise in oral diseases in all age groups. As per the Government of India, 85% to 90% of adults have dental cavities, along with about 60 to 80% of children.
Speak to Research Analyst: https://www.theinsightpartners.com/speak-to-analyst/TIPRE00027712/
3D Printing Polymer Material Market for Medical Application: Segmental Overview
Based on material, the 3D printing polymer material market for medical application is segmented into polyether ether ketone, polymethylmethacrylate, polylactic acid, and others. The polyether ether ketone segment held the largest market share in 2020. The same segment is anticipated to hold the largest market shares in terms of revenue during the forecast period due to its high mechanical properties in the medical field. Polyether ether ketone is highly used in the dental treatment sector as an alternative to traditional established metals and ceramics.
Based on application, the market is segmented into dental and hearing aids. The dental segment held a larger market share in 2020. The segment has surfaced as a prominent application area in the market due to the increasing application of various polymer materials in 3D dental structures.
Based on application, the dental segment accounted the largest share of the global 3D printing polymer material market for medical application. The segment's growth can be attributed to the high uptake of polymer materials for designing scaffolds structures due to their improved biological and mechanical properties, ease in processing, low production cost, and lightweight properties than metals and ceramics.
Impact of COVID-19 Pandemic on 3D Printing Polymer Material Market for Medical Application
Before the COVID-19 pandemic, the market was growing due to the high demand for dental implants and healing caps. However, the pandemic caused significant economic losses across the globe. The crisis led to temporary effects on the operational efficiencies of various industries. The COVID-19 pandemic has negatively impacted the demand for 3D printing polymer materials for applications, such as hearing aids and various dental devices. The pandemic has disrupted dental services due to the closure of dental clinics.
Due to the COVID-19 pandemic, butyric acid manufacturers witnessed a slight disruption in the supply chain of 3D printing polymer materials market for medical application during the first two quarters of 2020. However, the supply chain of polymer materials has been restored, and production activities have regained normalcy in late 2020. Later, the market was not significantly negatively impacted by the pandemic. Further, with the growing COVID-19 vaccinations and eased in lockdown restrictions, the global economy is resuming, and subsequently, the 3D printing polymer material market for medical application is regaining its growth.
Buy Premium Copy of 3D Printing Polymer Material Market Size, Share, Revenue, Strategic Insights and Forecasts 2021-2028 Research Report at - https://www.theinsightpartners.com/buy/TIPRE00027712/
Key Developments:
- In 2021, Evonik developed a 3D printing PEEK biomaterial for medical applications with body contact up to 30 days.
- In 2021, Advanced Laser Materials (ALM) launched a line of carbon-neutral polymer materials developed in collaboration with Arkema.
During the forecast period, North America is anticipated to account for the largest share in the global 3D printing polymer material market for medical application. The 3D printing polymer materials market is flourishing in North America owing to high demand of hearing aid devices due to high deaf population along with its wide applications in the medical field.
Growing use of 3D Printing in Dentistry is one of the major driving factors for the market. 3D printing technology is becoming a staple technology in the field of dentistry. For dental sciences, 3D printing is an ideal technology due to the accuracy and customization incorporated into products made by 3D printing. 3D printing offers various advantages over the subtractive/milling techniques. It allows the production of complex geometries with ease and reduce wastage of material which is generally lost to milling. 3D printing technology offers a lucrative advantage in terms of reduced labor and time consumption.
Browse related Reports on Same Industry -
Polyether Ether Ketone Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Product Type (Unfilled, Glass Filled, Carbon Filled); Application (Medical, Automotive, Aerospace, Electrical and Electronics, Oil and Gas, Others.) and Geography
Hydrogels for Medical Application Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Products (Crosslinking Agent Crosslinked Hydrogels, Physical Crosslinked Hydrogels); Application (Drug Delivery Systems (DDS), Hydrogel Dressings, Implants, Others)
Lyophilization/Freeze Drying Equipment Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Tray-Style Freeze Dryers, Manifold Freeze Dryers, and Rotary Freeze Dryers/Shell Freeze Dryers), Scale Of Operation (Industrial-Scale Freeze Dryers, Pilot-Scale Freeze Dryers, and Lab-Scale Freeze Dryers), Application (Medical Applications, Pharma & Biotechnology and Others), and Geography
Single Cell Analysis Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Consumables, Instruments); Cell Type (Human Cells, Animal Cells, Microbial Cells); Technique (Flow Cytometry, Next-Generation Sequencing, Polymerase Chain Reaction, Microscopy, Mass Spectrometry, Other Techniques); Application (Research Applications, Medical Applications); End User (Academic and Research Laboratories, Biotechnology and Pharmaceutical Companies, Hospitals and Diagnostic Laboratories, Cell Banks and IVF Centers)
2D Electronics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Optoelectronic devices, Electronic devices); Application (Security display and imaging, Biomolecular sensing, Energy and harvesting devices, Optical communications, Medical application, Electro mechanical systems, Electronics devices, Solar cells batteries, Flexible electronics) and Geography
Intraocular Lens Implants Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Monofocal IOL, Multifocal IOL, Toric IOL, Others); Material (Polymethylmethacrylate (PMMA), Silicone, Collamer); End User (Hospitals, Ambulatory Surgery Centers, Eye Research Institutes, Others)
Hydrophilic Intraocular Lens Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Monofocal Intraocular Lens, Toric Intraocular Lens, Multifocal Intraocular Lens, Others); Material (Polymethylmethacrylate (PMMA)); End User (Hospitals, Ambulatory Surgical Centers, Ophthalmology Clinics, Others) and Geography
Lactic Acid And Polylactic Acid Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application (Lactic Acid, Polylactic Acid) and Geography
Polylactic Acid Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Raw Material (Corn, Cassava, Sugarcane and Sugar Beet, Others); Form (Fiber, Films and Sheets, Coatings, Others); Application (Packaging, Automotive, Medical, Electronics, Agriculture, Textiles, Others)
Polylactic Acid for 3D Printing Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (1.75 MM, 3 MM or 2.85 MM); Application (Food Packaging, House Hold Items, Healthcare, Automotive, Others) and Geography
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
Press Release: https://www.theinsightpartners.com/pr/3d-printing-polymer-material-market-for-medical-application
Logo: https://mma.prnewswire.com/media/1586348/The_Insight_Partners_Logo.jpg
