New York, USA, Nov. 01, 2022 (GLOBE NEWSWIRE) -- 3D Bioprinting Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “3D Bioprinting Market Information By Technology, Material, Application, End User, And Region - Forecast till 2030", the market was valued USD 1.6 billion in 2021 and expected to reach USD 5.1 Billion by 2030 at a CAGR of 15.4% during the forecast period 2022-2030.
Market Synopsis
Creating organ and tissue structures via 3D bioprinting is mostly used for drug and scaffold research and development and medical implants. Medical gadget design is carried out using 3D bioprinting. By layering living cells, this method allows for the 3D printing biological tissues and organs. Pre-bioprinting, bioprinting, and post-bioprinting are the three primary processes that comprise the 3D bioprinting process. The output construct from 3D bioprinting keeps its cell viability and function, making it suitable for research and development (R&D) in various medical fields.
Leading manufacturers of pharmaceuticals and medical devices are concentrating on expanding their product offerings globally. As a result of the scarcity of sufficient numbers of organ donors, the demand in this sector is anticipated to increase. The market will benefit from growing growth prospects in the future due to the anticipated large increase in development and research (R&D) spending in the 3D bioprinting industry. Throughout the projection period, it is also projected that increasing the use of 3D printing in cosmetic procedures and developments in 3D bioprinting would help the market's expansion. Patients and healthcare experts need organ transplants, and the recently discovered 3D bioprinting technologies offer a bright future in bridging this gap.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 5.1 Billion |
| CAGR | 15.4% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Technology, Material, Application and End-user |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Growing Application of 3D Bioprinting in Cosmetic Industry |
| Rising Demand for Organ Transplantation |
3D Bioprinting Market Competitive Landscape:
The essential contenders in the 3D bioprinting market are:
- Organovo Holdings, Inc. (U.S.)
- EnvisionTEC GmbH (Germany)
- Allevi Inc. (U.S.)
- ROKIT Healthcare (South Korea)
- Cyfuse Biomedical K.K. (Japan)
- CELLINK (Sweden)
- Aspect Biosystems Ltd. (Canada)
3D Bioprinting Market Dynamics:
Market Drivers:
The need for orthopedic implants is anticipated to increase as the global population ages, as older people are more susceptible to osteoarthritis, peripheral vascular disease, and diabetes-related gangrene situations. Doctors and patients have increasingly embraced 3D bioprinting technology to carry out and accurately plan reconstructive surgery. Therefore, as part of their extended manufacturing strategy, prominent manufacturers of 3D bioprinting are now expanding their product line with the introduction of 3D printers and devices, which should present prospects for market growth shortly. The popularity of 3D bioprinting technology has increased significantly in recent years, particularly in the healthcare sector.
Bioprinting has gained pace as a promising technology because of its connection to the capacity to create tissue for artificial tissues and organs. This has the potential to completely change the way that medical diseases are diagnosed and treated. Companies worldwide are excelling in invention and originality, which will aid in the development of regenerative medicine as well as their concept solutions for stem cell therapies, tissue engineering, and pharmacological therapies. The rise in the elderly population, increased focus on R&D investment, and technological improvements for producing customized products are only a few factors driving the anticipated considerable growth of the global 3D bioprinting market over the forecast period.
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Market Restraints:
The idea is still in its infancy and is constantly evolving and improving in the healthcare sector. The need for qualified personnel who can operate 3D printing systems and have the necessary knowledge and efficiency is growing dramatically. This technology needs to be used effectively, necessitating ongoing monitoring that can only be done by a professional. However, the laborious work of expert finding is projected to impede the expansion of 3D bioprinting market activities during the current forecast year.
COVID 19 Analysis
The latest COVID-19 pandemic has spread worldwide, overwhelming even healthcare institutions. As a result, different 3D Bioprinting communities are responding to global crises by contributing their particular abilities to lessen the strain on the supply chain and governments. This is because coronavirus cases are on the rise. The coronavirus outbreak has also sped up the development of vaccine and drug testing since researchers are utilizing new technology for patient safety testing following the conclusion of preclinical trials. There is a shortage of ventilators and respirators in the medical community due to the rising number of COVID-19 cases. To address the lack of this equipment, 3D bioprinting technology is being used to manufacture respirators and ventilators.
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3D Bioprinting Market Segmentation
By end-user, the market includes pharmaceutical & biotechnology companies, research organizations & academic institutes. The market includes living cells, hydrogels, and extracellular matrices by material.
By technology, the market includes inkjet 3d bioprinting, laser-assisted bioprinting, microextrusion bioprinting, and magnetic 3D bioprinting.
By application, the market includes research applications and clinical applications.
By Material, the market inclueds Living Cells, Hydrogels, Extracellular Matrices
3D Bioprinting Market Regional Insights
Throughout the forecast period, the market is anticipated to maintain its dominance in the Asia Pacific. Due to the expanding number of COVID-19 cases and increased government R&D spending, Japan and China accounted for the greatest revenue share in the area. Additionally, it is projected that a lack of organ donors and the rising death rate brought on by COVID-19 will further propel the 3D bioprinting industry in this area.
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In 2021, the North American market had a revenue share of 31.6%, and it is anticipated that it will continue to dominate for the entire forecast period. Over the projection period, it is anticipated that the market will rise due to the growing adoption of I.T. in the healthcare sector. The government is investing more in research and development to produce a vaccination for this illness. Because this technology has been recognized for use in drug testing and organ donation, there is a rising demand for 3D bioprinting.
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