As per the study by Market Research Future (MRFR), the Global 3d Bioprinting Market is expected to reach a projected valuation of USD 1,923.02 million by 2023. The market is calculated to register a striking CAGR of 24.59% during the forecast period.
It is reported that the growing demand for organ transplantation is expected to push the growth of the market. Also, rising occurrences of organ failure owing to accidents, diseases, and old-age have created a massive gap for the functioning of organs. The emergence of 3D bioprinting can fill-in the gap by producing them on a massive scale.
Furthermore, the cost-effective nature of the technology is expected to drive the market demand as well. Opportunities related to the manufacturing of pills for the pharmaceutical sector and for producing prosthetics and implants is anticipated to augment the market too. The rising investment for R&D activities is expected to broaden the potential of the technology and subsequently the market growth.
Competitive Landscape
The Global 3d Bioprinting Market holds several key and prominent players, including FUJIFILM Wako Automation Corporation (U.S.), Regenhu Ltd. (Switzerland), Cyfuse Biomedical K.K. (Japan), Organovo Holdings Inc. (U.S.), Stratasys Ltd. (U.S.), EnvisionTEC GmbH (Germany), Cellink AB (Sweden), Allevi (U.S.), Regenovo Biotechnology Co. Ltd. (China), Aspect Biosystems Ltd. (Canada), Nano3D Biosciences Inc. (U.S.), and Poietis (France).
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March 25th, 2019, CD3D, a Poland-based 3D printer company, announced the launch of the largest open 3D bioprinting cluster in Europe. Located in Lodz, Poland, the cluster consists of 21 SKAFFOSYS bioprinter units. The units will be leveraged upon to pursue R&D activities in the biomedical arena.
March 22nd, 2019, Allevi, a Philly-based 3D bioprinting company, introduced the innovative Skin Bioink Kit. The kit needs to be used in conjunction with its 3D bioprinters to create skin patches. The launch of the product is aimed at allowing tissue engineers to design multi-layered skin patches that are similar to natural human skin.
Global 3D Bioprinting Market – Segmentation
The Global 3d Bioprinting Market segmentation is classified on the basis of material, application, end-user, and technology.
By technologies, the market includes magnetic 3D bioprinting, inkjet 3D bioprinting, laser-assisted bioprinting, and microextrusion bioprinting. The microextrusion bioprinting is expected to grow significantly during the forecast period. Additionally, Inkjet 3D bioprinting segment is also anticipated to hold a significant share of the market due to its compatibility with living cells.
By material, the market includes living cells, extracellular matrices, hydrogels, and others. The living cells segment hold a major portion of the share due to its manufacturing using in-air microfluidics. Hydrogels segment is too expected to garner high demand in the forthcoming years.
By application, the market divides into clinical and research applications. It is expected for the clinical applications segment to pose a higher market share due to the demand of organ transplantation.
By end-user, the market segments into pharmaceutical & biotechnology companies and research organization & academic institutes. Both the segments are expected to grow in numbers in the forthcoming years.
Global 3D Bioprinting Market – Regional Analysis
The geographical segmentation of the global 3D bioprinting market is focused upon regions like Asia Pacific, the Americas, Europe, and the Middle East & Africa.
As per the last conducted study in 2017, the Americas held the highest share of the market due to considerable increase in research & development activities, existence of a large patient pool, development of healthcare infrastructure, and increasing budget expenditure of healthcare in countries like the US and Canada.
The European region held the second position in the global standings in terms of market share. This is primarily due to the surging investment in 3D printing and a high demand in countries like the UK, France, and Germany. Additionally, increasing application of the 3D bioprinting technology in the cosmetic sector alongside the band on animal testing are key factors that can further push the market growth in this region.
The Asia Pacific region is expected to garner the highest growth percentage over the forecast period due to the developing healthcare industry in China and other emerging economies. Also, collaboration among leading companies to set-up units, and increasing funding for research and development activities are expected to push the growth of the region further.
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