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3D Bioprinting Market Overview
The global 3D bioprinting market is expected to attain a value of $792.5 million by 2022, advancing at a CAGR of 35.9% during 2016–2022 (forecast period). Increasing demand for organ and tissue transplants, rising compliance with drug discovery standards, and advancements in medical technology are the key factors supporting the growth of the market.
Based on technology, the 3D bioprinting market is categorized into syringe-based, pneumatic extrusion-based, inkjet-based, laser-based, and other 3D bioprinting technologies. Among these, the syringe-based technology is the most widely adopted 3D bioprinting technology in the market and is expected to hold more than 35% market share in 2022. In terms of growth, however, pneumatic extrusion-based 3D bioprinting is expected to be the fastest-growing category in the market during the forecast period, which can be mainly ascribed to the advantageous features of pneumatic extrusion-based 3D bioprinting over other technologies.
Based on application, the 3D bioprinting market is categorized into tissue and organ regeneration, 3D cell culture, pharmaceutical, and others. Of these, tissue and organ regeneration held the largest share in the market during the historical period and is expected to continue dominating the market in the forecast period as well, with more than 55% revenue contribution in 2022. In terms of growth, the market is expected to register the highest CAGR in the 3D cell culture category during the forecast period. This can be ascribed to the extensive research being carried out in the field of stem cell research, globally.
Geographically, North America is expected to hold the largest share in the 3D bioprinting market during the forecast period. Highly developed healthcare infrastructure, technological advancements, and presence of major industry players are some of the key factors driving the growth of the market in the region. Besides, the growing population of the elderly and increasing prevalence of chronic ailments are supporting the growth of the North American 3D bioprinting market. The U.S. is expected to occupy a major share in the regional market, mainly on account of the increasing research and development (R&D) in tissue engineering in the country.
3D Bioprinting Market Dynamics
3D bioprinting offers platforms that can be used for the purpose of drug development and drug discovery. The tissues developed through 3D bioprinting help improve drug efficacy. The adoption of 3D bioprinting has also helped reduce the time for clinical trials. In recent years, there has been a significant rise in the number of collaborations between pharmaceutical and 3D bioprinting companies for the testing of drugs at the initial stage of clinical development. Further, pharmaceutical companies have started testing new drugs developed on 3D printed tissues, which is helping them expedite the process of drug discovery and further contributing to the growth of the 3D bioprinting market.
Further, extensive R&D in this field is boosting the growth of the 3D bioprinting market. Players in the market have come up with low-cost printers. Besides, technological advancements, such as laser bioprinting, are expected to support the market growth in the coming years.
One of the major factors hindering the growth of the 3D bioprinting market is the lack of skilled professionals in the domain. It is important for the manufacturers to have the required expertise and skills for developing 3D bioprinters. Owing to the dearth of skilled professionals for the development of 3D bioprinters and bio inks for tissue and organ regeneration, the growth of the 3D bioprinting market is being affected to some extent.
Increasing application of 3D bioprinting in the cosmetic industry is providing several growth opportunities to the players in the 3D bioprinting market. The technology helps in skin tissue construction and is, therefore, gaining traction in the cosmetic industry. Players in the market are, thus, entering into R&D partnerships to explore the application of 3D bioprinting in tissue engineering.
3D Bioprinting Market Competitive Landscape
CELLINK, Organovo Holdings Inc., BioBots, EnvisionTEC, Aspect Biosystems Ltd., Cyfuse Biomedical K.K., Ourobotics, 3D Bioprinting Solutions, GeSiM GmbH, Bio3D Technologies, Advanced Solutions Inc., Nano3D Biosciences Inc., 3Dynamic Systems Ltd., Aerotech Inc., Poietis, and regenHU Ltd. are some of the key companies operating in the global 3D bioprinting market.
Key Questions Answered in the Report