Newark, May 23, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the 3D Bioprinting market will grow from USD 1.4 billion in 2022 and reach 9.3 billion by 2032. High need for transplantable organs and tissues to expand the market growth.
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Key Insight of 3D Bioprinting Market
Asia Pacific to account for largest market size during the forecast period.
Asia Pacific is expected to have the largest market share in the 3D Bioprinting market. The growth of the 3D Bioprinting’ market in Asia Pacific region is due to the rising research and development initiatives, the essential players undertake and the growing need for organ transplantation. For example, India Times dated December 2022, says India requires more than 400,000 organ transplants yearly. Still, less than 1,000 transplantation surgeries are taken out due to the demand for organ donors. Moreover, with the rising regional product launches, the market is expected to rise.
The inkjet bioprinting segment accounted for the largest market share of 27% and market revenue of 0.37 billion in 2022.
The technology segment is divided into magnetic levitation bioprinting, inkjet bioprinting, syringe/extrusion bioprinting, and laser-assisted bioprinting. The inkjet bioprinting segment dominated the market, with a market share of around 27% and a market revenue of 0.37 billion in 2022. The technology has broader use and adoption in the medical domain, which is anticipated to completely influence the development of the segment. Similarly, due to the rising need and higher durability of the structures, the segment is expected to show growth.
The clinical application segment accounted for the largest market share of 25% and market revenue of 0.35 billion in 2022.
The application segment is divided into drug testing and development, regenerative medicine, clinical application, food testing, and research. The clinical application bioprinting segment dominated the market, with a market share of around 25% and a market revenue of 0.35 billion in 2022. Due to recent product launches and technical advances undertaken by the essential players. Similarly, the increased need for medicines to cure chronic diseases and the rising demand for low-cost bio-drugs among patients are some of the essential elements which are anticipated to ultimately influence the market growth.
Advancement in Market
In January 2021: The 3D systems assumed the additive works to improve the AM software assortment and the innovative capacity, which would rise with the additive production over the hospital and the industrial markets. 3D systems assumed Allevi to improve the application possibilities for the AM in the clinical and the tremendous dependability applications.
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Market Dynamics
Drivers: Helps in Quick Prototyping
3D printing can simulate parts within hours, which speeds up the prototyping approach. It permits per phase to conclude quickly. In comparison to machine prototypes, 3D printing is reasonable and faster at creating parts as the part can be completed in hours, permitting each design modification to be conducted at a much more efficient pace.
Restraints: Reduction in Manufacturing Jobs
Another drawback of 3D technology is the probable decrease in human labour since most of the production is automated and done by printers. Numerous third-world nations depend on low-skill jobs to keep their economies running. Technology could risk these manufacturing jobs by exploiting the need for production abroad.
Opportunities: High need for transplantable organs and tissues to expand the market growth
There is a massive demand for essential body parts for transplantation all over the world. Even worse, a considerable disparity exists between the demand and supply of organs and tissues. The kidneys, heart, pancreas, intestines, lungs, and liver are rare organs needed for transplantation. Likewise, there is a massive demand for skin, heart valves, bone, blood vessels, and corneal transplants. Although there is a high requirement for tissues and organs, donation rates remain the same. The rising number of patients on the transplant waiting list due to the unavailability of these parts for transplantation is a considerable problem for healthcare institutions and providers. However, researchers use the latest technologies for patient safety testing after preclinical trials are completed; the covid-19 pandemic has also accelerated the expansion of medicine and vaccine testing.
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Some of the major players operating in the 3D Bioprinting market are:
• 3D Bioprinting Solutions
• Allevi
• Cellink Global
• Cyfuse Biomedical K.K.
• EnvisionTEC, Inc.
• Inventia Life Science PTY LTD
• Organovo Holdings, Inc.
• Poietis
• Regemat 3D S.L.
• Vivax Bio, LLC
Key Segments cover in the Market:
By Technology:
• Magnetic Levitation Bioprinting
• Inkjet Bioprinting
• Syringe/Extrusion Bioprinting
• Laser-Assisted Bioprinting
By Application:
• Drug Testing and Development
• Regenerative Medicine
• Clinical Application
• Food Testing
• Research
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
About the report:
The market is analysed based on value (USD Billion). All the segments have been analysed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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