Market Overview:
3D bioprinting involves layer-by-layer deposition of biological components in a localized manner. It aims to produce artificial tissues and organs by 3D printing of living cells, cell scaffolds and biomaterials. 3D bioprinting technologies provide advantages such as precise cell placement and controlled organizations of cells to recapitulate complex tissue structure.
Market key trends:
The key trends in the 3d bioprinting market include increasing funding in bioprinting research, growth in number of product launches, rising collaborations among key players and increasing applications in localized cancer therapy. For example, researchers have developed a new method of 3D bioprinting cancerous tumor models that could help test new drugs and study how cancers develop. Such innovations in bioprinting of tumor models will boost the market growth over the forecast period. Furthermore, major companies are actively focusing on new product launches. For instance, in 2021 Organovo launched its exVive3D Human Liver Tissue for preclinical applications including drug toxicity testing.
The global 3d Bioprinting Market Size is estimated to be valued at US$ 1281.57 Mn in 2023 and is expected to exhibit a CAGR of 21.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
The 3d bioprinting market has been witnessing high growth owing to the increasing demand for tissue engineering applications. 3D bioprinting allows manufacturing of animal-free meat and dairy products which has decreased the use of livestock. Several studies are being conducted to develop advanced human organs using 3D bioprinting which will help in addressing the issue of organ shortage. Rising investments in disease modeling and drug discovery are further propelling the growth of this market.
SWOT Analysis
Strength: Advanced bioprinting abilities to produce complex living structures like blood vessels, bones, and muscles.
Weakness: High initial investments and limited availability of skilled professionals.
Opportunity: Growing demand for regenerative medicine and organ transplantation. Development of advanced bioinks.
Threats: Stringent regulations and ethical issues related to use of living cells. Commercialization challenges for artificially produced organs.
Key Takeaways
The global 3d bioprinting market is expected to witness high growth, exhibiting CAGR of 21.% over the forecast period, due to increasing demand for tissue engineering applications. North America dominates the 3D bioprinting market currently due to presence of major market players and availability of latest technologies. However, Asia Pacific is expected to grow at the highest CAGR during the forecast period owing to growing R&D budget, increasing healthcare expenditure, and growing geriatric population.
Regional analysis:
North America holds the major share of the global 3D bioprinting market currently due to availability of advanced healthcare facilities and presence of major players in the U.S. and Canada. Asia Pacific region is expected to grow at the highest CAGR during the forecast period. This is attributed to increasing healthcare expenditure and growing geriatric population in countries such as China and India. China is expected to emerge as a lucrative market owing to rising focus of Chinese government on developing 3D printing technology.
Key players:
Major companies involved in the global 3D printing market are 3D Systems Corporation, Cyfuse Biomedical KK, GeSIM GmbH, 3D Bioprinting Solutions, Aspect Biosystems Ltd., Organovo Holdings Inc., ARCAM AB (GE Company), Cellink AB, RegenHU SA, REGEMAT 3D, EnvisionTEC GmbH and Stratasys Ltd.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.