3D Bioprinting Market: Current Progress, Growth Drivers, challenges, and Future Development, Forecast 2027
The Global 3D Bioprinting Market is projected to reach USD 3.3 billion by 2027 from USD 1.3 billion in 2022, at a CAGR of 20.8% during the forecast period. The technological advancements in 3D bioprinters & biomaterials, increasing use of 3D bioprinting in the pharmaceutical and cosmetology industries, and rising public and private funding to support bioprinting research activities are mainly driving the growth in this market. However, shortage of skilled professionals and high development and production costs are restraining the growth of this market.
The increasing demand for organ transplants and the growing focus on personalized medicine are driving the growth of the 3D bioprinting market. The increasing availability of 3D bioprinters and the growing number of collaborations between research centers and bioprinting companies are also contributing to the market’s growth.
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The 3D bioprinting market is expected to continue growing in the coming years. Companies are investing heavily in research and development to create new 3D bioprinting technologies and products. As the technology develops, 3D bioprinting is likely to become a more widely used tool in the medical field.
Overview of the 3D Bioprinting Market
The 3D bioprinting market is a rapidly growing sector of the 3D printing industry. It is estimated to be worth over $ 1.3 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 3.3% from 2022 to 2027. This growth is driven by the increasing popularity of 3D bioprinting for medical applications, such as tissue engineering, drug development, prosthetics, and regenerative medicine. Additionally, the development of 3D bioprinting technology and materials, as well as the decreasing cost of 3D printing, is also driving the growth of the 3D bioprinting market.
The 3D bioprinting market is segmented based on application, material, and geography. In terms of application, the market is divided into tissue engineering, drug development, prosthetics, and regenerative medicine. The tissue engineering segment is expected to dominate the market throughout the forecast period, due to the increasing applications of 3D bioprinting in the development of artificial tissues and organs. In terms of material, the 3D bioprinting market is divided into bio-inks, biopolymers, and cell sources.
3D bioprinting is a revolutionary technology that is revolutionizing the healthcare industry. This technology uses 3D printing technology to create living human or animal cells in a specific pattern and structure. 3D bioprinting is used to create complex biological structures such as organs and tissues for medical applications. It has the potential to revolutionize the way treatments are designed and delivered and could potentially lead to the development of artificial organs for transplantation and other medical interventions.
Growth Drivers: Increasing use of 3D bioprinting in pharmaceutical and cosmetology industries
Several pharmaceutical companies are increasingly adopting 3D bioprinting products and technologies in the drug discovery and development process. The 3D bioprinting method enables pharmaceutical companies to test drugs more safely and at a lower cost as compared to the traditional drug testing method. The traditional drug discovery process takes around three-to-six years to complete, while the 3D bioprinting process enables pharmaceutical companies to test a drug within a few hours. The use of 3D bioprinted tissues also enables R&D teams to test new drugs in the early stages and during preclinical trials. Advantages offered by 3D bioprinting include reduced use of animals for dug testing, enhanced productivity and shortened drug discovery process.
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OPPORTUNITIES: Rising demand for organ transplants
3D printing is gaining increasing importance in the healthcare industry due to the potential for developing complex solid organs like the heart, kidneys, and lungs for transplantation. As opposed to the conventional replacement of failing or damaged organs-which carries a risk of rejection by the host body-3D-printed organs are unlikely to pose any hazards, as they make use of cells taken from the patient’s body.
The global 3D bioprinting market is highly fragmented, with many players operating in the market. The top two players in the market-BICO Group AB (US) and 3D Systems, Inc. (US) (Allevi Inc.)-accounted for a share of ~10-15%. There are many small, medium, and emerging companies in this market, accounting for around 85-90% of the market. Therefore, the intensity of competitive rivalry in the 3D bioprinting market is low.
North America is the largest region and Asia Pacific is the fastest-growing region of the 3D Bioprinting market.
Based on region, the 3D bioprinting market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2021, North America dominated the market, followed by Europe. The significant government and private investments to develop advanced 3D bioprinting technologies, the high adoption rate of these technologies, and the presence of key market players in the region are responsible for the large share of North America in the bioprinting market. The Asia Pacific market is projected to grow at the highest CAGR during the forecast period.
Key Market Players
Key players in the global 3D Bioprinting Market include BICO Group AB (US), Organovo Holdings Inc. (US), Allevi, Inc. (part of 3D Systems, Inc.) (US), CollPlant Biotechnologies Ltd. (Israel), regenHU (Switzerland), EnvisionTEC GmbH (part of Desktop Metal, Inc.) (Germany), Aspect Biosystems Ltd. (Canada), Advanced Solutions Life Sciences, LLC (US), and Regenovo Biotechnology Co., Ltd. (part of Shining 3D Tech Co., Ltd.) (China).
Recent Developments:
- In March 2022, BICO Group AB (US) launched the BIO CELLX, which is a novel system that automates 3D cell cultureworkflows by leveraging prevalidated protocols.
- In June 2021, 3D Systems, Inc. (US) and CollPlant Biotechnologies Ltd. (Israel) signed a co-development agreement for a 3D-bioprinted regenerative soft tissue matrix for use in breast reconstruction procedures in combination with an implant.
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