This work explores the area of biomedical imaging processing. Tibia is the largest bone after femur in the human body. Due to its complex geometry, developing an accurate and reliable model of Tibia bone is a challenging task for orthopedics. Therefore, to develop a 3D bone model Reverse Engineering Technique is used. This method minimizes the error in importing the models into the Finite element software to get better results. 3D slicer software is used to reconstruct the bone from Ct scan using DICOM files. A 3D model of human tibia bone has been modelled from CT scan images which is further segmented and modified to form an accurate 3D model by varying the segmentations parameters and methods. An open-source code 3D slicer is used to perform segmentation. Autodesk Fusion 360 software is used to convert it into a solid body and to reduce the facets and finally the model is imported to ANSYS software for meshing and analysis. This segmentation 3D CAD model can be used for analysis such as Model analysis, structural analysis and artificial bone manufacturing. In-plane stress and displacement solutions are found using the elasticity approach for functionally graded rod having rectangular, hollow, tapered and tapered hollow cross-section and are validated with Finite Element Solution in Ansys. The analytical results show a good agreement with FE results.