3D Bioprinting Market Overview
The global 3D bioprinting market size is projected to reach $792.5 million by 2022, growing at a CAGR of 35.9% during the forecast period. The market is driven by factors, such as technological advancements and innovations, increasing compliance for drug discovery processes, and high demand for organ and tissue transplantation.
In terms of technology, the 3D bioprinting market includes syringe-based, pneumatic extrusion, inkjet-based, laser-based and others. The syringe-based segment was the most commonly used bioprinting technology in the historical period and it is projected to hold a market share of more than 35% by 2022. The pneumatic extrusion-based 3D bioprinting is expected to witness the fastest growth during the forecast period, as most of the new 3D bioprinting vendors are adopting this technology for its benefits over other technologies.
The 3D bioprinting finds application in tissue & organ regeneration, 3D cell culture, pharmaceutical, and others. The tissue and organ regeneration segment accounted for a major share in the global 3D bioprinting market during the historical period and it is projected to hold a market share of more than 55% by 2022. The 3D cell culture is expected to witness the fastest growth during the forecast period. The global 3D bioprinting industry for 3D cell culture is growing significantly with the growing stem cell research across the globe.
Geographically, the North American 3D bioprinting market is growing significantly due to technological advancement, increasing research and development activities, and developed healthcare infrastructure. The high healthcare expenditure, growing geriatric population and increasing prevalence of chronic diseases is also supporting the demand for 3D bioprinting especially in pharmaceutical industry. Among the North American countries, the U.S. is the largest market for 3D bioprinting among all the countries of North America as well as all over the world. The U.S. 3D bioprinting market is growing significantly due to the increasing R&D for tissue engineering and fabrication and technological advancements.
3D Bioprinting Market Dynamics
3D bioprinting has opened new platforms in the drug discovery and development process. Tissues developed through 3D bioprinting such as liver tissue help to predict drug toxicity and improve drug efficacy. Moreover, 3D bioprinting also saves time in clinical trials, thus, increasing its compliance for drug discovery. Different pharmaceutical companies are collaborating with 3D bioprinting companies to test their drugs in early stage of clinical trials. New drugs are tested for their efficacy on 3D printed tissues in the initial stages; thus, speeding up the drug discovery process. Owing to the factor the global 3D bioprinting market is gaining huge traction across the pharmaceutical industry.
The advanced research and development has led to the development of technologically advanced 3D bioprinting. The technological advancements have led to the development of low cost bioprinters, thus driving the growth of the global market. Laser based bioprinting has improved resolution and efficient printing mechanism. The technological advancements and innovations would significantly drive the growth of the global 3D bioprinting market in the coming years.
3D bioprinting can be used to generate skin; therefore, cosmetic industry vendors are investing heavily for 3D bioprinting skin. Different companies are collaborating for research and development in cosmetics using tissue engineering and bioprinting technologies. The increasing adoption of 3D bioprinting in cosmetics would create ample revenue generation opportunities for the vendors in the global 3D bioprinting market.
Although the 3D bioprinting market is witnessing huge investment and growth, the growth of the market is getting hampered due to the lack of skilled professionals. 3D bioprinting industry professionals are required to have specialized skills and education to manufacture and develop the 3D bioprinters. Owing to the lack in education and training programs for 3D bioprinting, there is wide shortage of skilled professionals across the globe. Although the development of 3D bioprinters and bio inks for tissue and organ regeneration is the primary focus of the 3D bioprinting vendors, lack of skilled and experienced 3D bioprinting professionals is hampering the efficient usage of this technology.
3D Bioprinting Competitive Landscape
Some of the major players operating in the 3D bioprinting market include CELLINK, Organovo Holdings, Inc., BioBots, EnvisionTEC, Aspect Biosystems Ltd., Cyfuse Biomedical K.K., Ourobotics, 3D Bioprinting Solutions, GeSiM, Bio3D Technologies, Advanced Solutions, Inc., Nano3D Biosciences, Inc., 3Dynamic Systems Ltd., Aerotech Inc. and Poietis, regenHU Ltd.