New York, USA, May 03, 2023 (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 size was valued at USD 1.9 billion in 2022 and is projected to grow from USD 2.19 Billion in 2023 to USD 5.17 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 15.40% during the forecast period (2023 - 2030)
Market Scope:
With the aid of anatomically accurate 3D models of the tissue created by computer graphics, 3D bioprinting, an extended application of additive manufacturing, is now being investigated for tissue engineering and regenerative medicine. It involves the top-down approach of building the complex tissue in a layer-by-layer fashion, producing precise geometries due to the controlled nature of matter deposition.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 5.17 billion |
| CAGR | 15.40% |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2021 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Technology, Material, Application, End-user, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Growing Demand for Organ Transplantation |
| Rising application of 3D printing in cosmetics |
3D Bioprinting Market Competitive Dynamics:
Large corporations are spending a lot of money on research and development to broaden their product lines, which will drive the 3D bioprinting market even further. Market participants are engaging in a variety of strategic initiatives to improve their worldwide presence along with significant developmental changes such new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other businesses. Competitors in the 3D bioprinting business must offer reasonably priced items if they want to develop and prosper in a setting where competition is severe and the market is expanding.
One of the most effective business strategies adopted by manufacturers in the global 3D Bioprinting industry to assist clients and expand the market sector is to produce locally to reduce operating costs. In recent years, 3D Bioprinting industry has provided medicine with some of the most significant benefits.
Key Companies in the 3D Bioprinting market includes
- Organovo Holdings, Inc. (US)
- ROKIT Healthcare (South Korea)
- Cyfuse Biomedical K.K. (Japan)
- CELLINK (Sweden)
- EnvisionTEC GmbH (Germany)
- Allevi Inc. (US)
- Aspect Biosystems Ltd. (Canada))
3D Bioprinting Market Trends:
Market Drivers
There is a huge market for essential body parts for transplantation on a global scale. Even worse, there is a substantial gap in the availability and demand for organs and tissues. Just a few organs, including the liver, pancreas, lungs, heart, and kidneys, are necessary for transplantation.
The need for bone, skin, blood vessel, heart valve, and cornea transplants is also quite high. Organ donation rates are stable despite a rising need for tissues and organs. A significant issue for healthcare organizations and providers is the growing number of patients on the transplant waiting list as a result of the lack of these components for transplantation. Thus, it is anticipated that the market for 3D bioprinting would grow as a result of the increase in demand for this respiratory epithelium. As a result, the situation has lately increased the CAGR of the worldwide 3D bioprinting market.
Several pharmaceutical companies are quickly adopting 3D bioprinting products and technology in the search for and development of novel medicines. The drug business can test drugs more inexpensively and safely thanks to 3D bioprinting than it could before compared to the traditional drug test procedure. People's knowledge of 3D printing has expanded as its use has increased, especially in the cosmetics industry. In response, a number of businesses in the healthcare and cosmetics industries have used 3D bioprinting to develop cutting-edge 3D tissue models and methods for drug screening.
Market Restraints
The precision of the additive manufacturing process differs between machines as a result of unpredictable processing factors and various materials. A few monitoring methods are available to help producers rectify these alterations and meet their particular requirements. The lack of systems integration knowledge has made it difficult to develop complex and accurate mathematical models utilizing additive manufacturing. These limitations on preproduction, planning, and control systems typically result in expensive errors and unsuccessful manufacturing.
COVID-19 Analysis:
The coronavirus pandemic has also accelerated the testing of drugs and vaccines because scientists are using new technology for safety testing in humans after preclinical studies are concluded. Due to the increase of COVID-19 patients, the medical community is also facing a respirator and ventilator scarcity. The production of respirators and ventilators is made possible by 3D bioprinting technology, which addresses the scarcity of this equipment. The major market players believe that the global increase of COVID-19 cases would create new growth prospects. A COVID-19 vaccine is being developed by various 3D bioprinting industry participants to mitigate the effects of this outbreak.
Browse In-depth Market Research Report (163 Pages) on 3D Bioprinting:
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3D Bioprinting Market Segmentation:
Based on technology
With a 40% revenue share in 2022, the Inkjet 3D Bioprinting sector controlled the majority of the market share. The extensive use of inkjet printing in the healthcare industry is one of the factors propelling the growth of this market. This study explicitly tackles the problems of biochemical regeneration, the price of drug delivery, and the bio-applicability of inkjet printing. Due to its increasing durability and growing demand, this market sector is expected to grow considerably.
Based on Material
The segmentation of the worldwide 3D Bioprinting market covers extracellular matrices, hydrogels, and live cells. In 2022, the Living Cells category led the market. From 2022 to 2030, it is anticipated to increase at a higher rate. because investments in regenerative medicine and stem cells are increasing, along with the usage of live cells in these sector..
By application
In 2022, the clinical applications category led the market. From 2022 to 2030, it is expected to increase at a higher rate. The clinical applications industry consists of skin, bone and cartilage, blood vessels, and other clinical applications. Regarding revenue share, it is predicted that the clinical applications segment would rule the worldwide market during the forecast period.
Based on the End-Users
Research Organizations & Academic Institutes held the largest segment share in 2022 based on End Users; this is due to the rapid advancement of stem cell research, the expansion of spending to speed up Research & Development (R&D) efforts, and the rise in demand for regenerative medicine as a result of the high prevalence of chronic diseases.
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3D Bioprinting Market Regional Analysis:
The 3D bioprinting market in North America is expected to grow at a significant CAGR over the course of the study period, reaching USD 0.87 billion in 2022. The market would grow throughout the forecast period as a result of the healthcare industry's expanding use of Technology.
Due to rising R&D activities, rising demand for organ transplants, and rising efforts by market participants to increase their presence in this area, Europe's market of 3D bioprinting has the second-largest market share. Also, the UK's market of 3D Bioprinting grew the quickest in the European area, while Germany's market for the technology retained the greatest market share.
From 2022 to 2030, the 3D bioprinting market in Asia-Pacific is anticipated to see the highest CAGR growth. because of the magnitude of its consumer base, the expansion of R&D in this area, government support, and tax benefits. Chinese researchers have made significant advancements in this area, such as the liquid-in-liquid printing method that blends liquid polymers to produce a stable membrane. They assert that up to 10 days pass before the resultant fluid formations merge and lose their shape. Also, the Asia-Pacific region's 3D Bioprinting markets in China and India had the highest market shares and the quickest rates of growth, respectively.
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