Biocompatible materials are the critical ingredient in joints, dental, and bone plants, along with devices such as pacemakers and blood tubes. Biocompatible materials have become popular because of their minimal toxicity, carcinogenicity, teratogenicity, and immunogenicity. The biocompatible materials market is expected to record robust growth till 2025 largely due to 3D and 4D printed implants.
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Biocompatible Materials Market Rides Wave of 3D Printed Patient Customized Solutions
Biocompatible materials are deployed to great effect in implant surgeries as they can restore the anatomy in cases of physical trauma, genetic defects, and disease. Biomaterials can safely replace injured tissues or organs and continuous R&D investment has allowed them to be used in multiple medical procedures. A noticeable trend has been the use of 3D and 4D printing to manufacture patient-specific implants and treatment-specific drugs. Several companies in the biocompatible materials market opt for polymer grade medical devices in implants, catheters, and surgical instruments.
High Rigidity and Superior Elasticity Make Ceramics the Default Choice for Hard Tissue
Biocompatible materials can be classified into polymers, metals, composites, and ceramics that can be used individually or together to create implants for the biocompatible materials market. Ceramics and metals are the preferred option for hard tissue as they provide a greater tensile strength and higher elastic modules. Conversely, polymers are the optimal solution for soft tissue. Synthetic polymers should witness huge demand from hearing aids, tissue engineering scaffolds, drug delivery, and prosthesis application. Synthetic polymers are cheaper, more easily moldable, biocompatible, and biodegradable than their metal and bio-ink counterparts. Tissue engineering is likely to be highly lucrative for companies in the biocompatible materials market because the occurrence of congenital disabilities and organ failures has risen manifold.
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Government Grants Allow the West to Race Ahead in Biocompatible Materials Market
North America and Europe will dominate the biocompatible materials market for the foreseeable future as they are adopting biocompatible materials in areas as diverse as biotechnology, cosmetic surgery and wound management. In addition, national governments have encouraged new investments and supported existing ones, raising the profile of the biocompatible materials market there.
Aim to Reduce Cost Without Cutting Quality in the Biocompatible Materials Market
Companies actively involved in the biocompatible materials market must minimize cost to make them more affordable. Biocompatible materials are judged on demanding standards of biocompatibility as the rate of failure five years after implantation is very high. Companies must undergo strict regulatory scrutiny to meet the benchmarks of the biocompatible materials market. In 2018, EnvisionTec unveiled two new medical-grade materials that boosted the company’s 3D printing material top line. In the same year, EOS GmBH Electro Optical Systems expanded its presence in the APAC region. In 2019, DuPont Transportation & Industrial launched its semi-crystalline material for 3D printing. These high-tech semi-crystalline materials will open new revenue streams for stakeholders in the biocompatible materials market. Other companies in the biocompatible materials market include AdvanSource Biomaterials Corporation, Ashland Inc., ASM International, Baxter International Inc., Ensinger GmbH, Evonik Industries AG, Shin-Etsu Chemical Co. Ltd., Stratasys Ltd., and Renishaw PLC.
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