Global 3D Bioprinting Market to Register Significant Growth and Reach valuation of USD 2,567 Million in 2026
According to Blueweave Consulting, the Global 3D Bioprinting Market size is expected to reach USD 2,567 million is 2026 from USD 613 million in 2019, at a CAGR of 22.7% during the projection period 2020-2026.
The growing demand for 3D Bioprinting in pharmaceutical and cosmetology industry, technological advancements for customized products and rising funding support from state governments and private enterprises drive the growth of this market. These factors have strengthened the manufacturing, research and distribution capabilities of the market players, especially in emerging economies of the world.
The wide gap between demand and accessibility of 3D Bioprinting-based organ transplants offers immense potential for this market. Moreover, increasing awareness regarding 3D Bioprinting and its use in stem cell therapy, cancer therapeutics, drug screening, and tissue regeneration opens up diverse and plenty of opportunities. Also, product innovations, launches, approvals and investment in R & D by market players play a crucial role in the market expansion.
3D Bioprinting, as the name suggests, is the use of 3D Printers in the medical arena and involves three-dimensional printing of native tissues and organs by layering living cells. It follows the three-stage process consisting of pre-bioprinting, bioprinting and post-bioprinting. Its output construct is preserved for research and development purpose and, is used for developing organ and tissues which are reused for drug screening, tissue engineering & regenerative medicines and medical implants. The enterprises engaged in Bioprinting are focusing on to develop innovative approaches and combination of new materials for 3D printing to derive its maximum use in the medical field. Moreover, companies are adopting partnerships and collaborations as their competitive strategies to acquire the latest technology besides product innovations, as mentioned above.
The Global 3D Bio-Printing Market is segmented based on component, material, application and end-user.
’The Living Cells Segment and Skin Segment Dominates the Market.”
Components based segment includes printing through Laser, Inkjet and Micro Extrusion. Micro Extrusion is widely used. Based on material, the market players use Hydrogel and Living Cells and, Living Cells segment has recorded highest share and surge due to its extensive use in regenerative medicines, stem cells research and increased funding support. It is expected to dominate the market during the forthcoming period. In application segment, the skin segment dominates over drug research.
“Demand for Throughput models of tissues and technological advancements majorly drives the market growth.”
3D Bioprinting helps in testing the efficacy of the drug molecules as they closely imitate the natural tissue for regenerative medicines. Therefore, the tremendous demand from the pharma companies for throughput models of tissue drives the market to a great extent. Besides, technological advancements in this field induce many applications in the medical field, ultimately strengthening its market. Bioprinting companies continuously work on the advanced application of 3D Bioprinting in drug development, tissue transplantation and regenerative medicine for ensuring customized medical treatment, better patient care and as a substitute to organ transplantation. The advancements also give a competitive edge over the competitors.
However, scarcity of skilled professional to perform 3D printing hampers the market growth as the personnel need to be highly skilled for this task.
“North America Dominates Global 3D Bioprinting Market.”
North America retained the largest market share during 2019 and is expected to preserve this status with significant CAGR during the projected period due to substantial state healthcare outlay, technological advancements and robust healthcare infrastructure. Besides, the Asia Pacific market is anticipated to register the highest CAGR during the forthcoming period. In this region, China and India offer lucrative opportunities due to growing government support, rise in advanced cosmetic surgeries and less compliance related to regulations & data.
“The leading players” in this market include EnvisionTEC (Germany), Organovo Holdings Inc. (US), Cyfuse Biomedical KK (Japan), BioBot (US), Nano3D Biosciences, Inc.(US), Aspect Biosystems Ltd.(Canada), 3Dynamic Systems Ltd (US), CELLINK (US), Materialise NV (UK), Vivax Bio, LLC (US) and others.