The Global 3D Bioprinting Market size is projected to touch USD 1,923.02 million by 2023, asserts Market Research Future (MRFR). The market can showcase an impressive 24.59% CAGR from 2018 to 2023 (forecast period) to reach this value. It was previously valued at USD 517.97 million in 2017.
Increasing demand for organ transplantation is projected to drive market demand year-on-year till 2023. This is attributed to the paucity of organs available for transplants. In 2014, nearly 120,000 people were on the waiting list for organs. This opportunity can be capitalized by the 3D bioprinting market by manufacturing customized organs according to body size.
Investments in 3D bioprinting via public and private means to widen its scope is likely to boost the market growth. For instance, Tekes, the Finnish Funding Agency for Innovation, awarded funds to the University of East Finland to develop a fully functioning 3D brain for research purposes. Moreover, cost-efficiency of 3D bioprinted products is likely to lead to renewed interest by investors.
Lack of awareness of the technology and shortage of skilled professionals can act as growth deterrents in the market.
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3D Bioprinting Market – Dominant Players
Key market contributors are
- Stratasys Ltd. (U.S.)
- ORGANOVO HOLDINGS, INC. (U.S.)
- Aspect Biosystems Ltd. (Canada)
- FATHOM (U.S.)
- CELLINK AB (Sweden)
- Bio3D Technologies (Singapore)
- Materialise (U.S.)
- Allevi (U.S.)
- ENVISIONTEC, INC. (Germany)
Industry/ Innovation /Related News:
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.
3D Bioprinting Market – Segmentation
The 3D Bioprinting Market is segmented by technology, material, application, and end-user.
By technology, microextrusion bioprinting held close to 31.7% share in 2017, followed by inkjet 3D bioprinting (25.1%), laser-assisted bioprinting (20.6%), magnetic 3D bioprinting (13.7%), and others (8.9%). The microextrusion bioprinting segment is projected to register a whopping 25.24% CAGR during the forecast period. This can be attributed to its extensive applications in bioprinting. On the other hand, inkjet 3D bioprinting can exhibit 26.44% CAGR owing to be a viable alternative for scaffold fabrication.
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By material, living cells accounted for 39.7% share in 2017, followed by hydrogels (30.8%), extracellular matrices (21.0%), and others (8.5%). Living cells are predicted to exhibit 25.05% CAGR during the forecast period thanks to the expedited production process of micro building blocks. The blocks play a vital role in repairing damaged tissues. Hydrogels, on the other hand, can generate close to USD 652.54 million by 2023 at a CAGR of 26.63% during the forecast period.
Among applications, research applications accounted for 73% share in 2017, followed by clinical applications with 27% share in the same year. Research applications can exhibit 24.74% CAGR till 2023 owing to applications in 3D cell culture and regenerative medicine. Clinical applications, on the other hand, can generate close to USD 507.55 million by 2023, at a 24.19% CAGR during the assessment period.
Among end-users, pharmaceutical & biotechnology companies accounted for 52.6% share in 2017, followed by research organizations & academic institutes (33.3%), and others (14.1%). Pharmaceutical & biotechnology companies are projected to display 24.98% CAGR till 2023 owing to the trend in personalized medicines.
3D Bioprinting Market – Regional Analysis
Geographically, the market has been segmented into the Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA).
The Americas hold the maximum share owing to a well-structured healthcare sector and heavy investment both by the government and the private players. A large base of patient population waiting for transplantation is also a market booster. Healthcare expenditure due to a rise in disposable income and the presence of significant market players are proving to be significant contributors.
Europe is the second largest market with a cluster of developed countries such as France, Germany and the U.K. who are spending heavily on the technology and is always eager to innovate.
APAC is the fastest growing region with continuously growing population and burgeoning healthcare sector in developing countries such as China and India. According to the Indian Brand Equity Foundation in 2017, the Indian market is deemed to grow with an astonishing CAGR of 22.87% by 2020 and touch USD 280 billion.
MEA is unlikely to get a huge boost in 3D Bioprinting Market owing to the presence of several poor countries in the region. Qatar, Kuwait, Saudi Arabia, and Dubai are the few countries with advanced healthcare infrastructure and interested in research investments.
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