Global 3D Bioprinting Market to Cross $5,873 Million Revenue by 2030
- Published: October 2022
The 3D bioprinting market size is expected to advance at a CAGR of 19.4% during 2021–2030, to reach $5,873.0 million by 2030.
This is ascribed to the increasing drug discovery activities and high demand for organ and tissue transplants globally. Additionally, there would be a healthy demand for organs due to the growing elderly population, which suffers from a range of chronic and acute diseases.
Other key factors are the growing investments in biopharmaceutical products, increasing number of product approvals, and widening acceptance of these products, especially for rare diseases.
Pharmaceutical and Cosmetics Sectors Are Increasingly Utilizing Three-Dimensional Bioprinting
A number of pharmaceutical firms are using bio three-dimensional printing tools and technologies for developing new drugs. Compared to the conventional drug testing procedure, 3D bioprinting enables pharmaceutical companies to test medications more affordably and safely.
R&D teams can test new medications early and during pre-clinical trials, by using 3D bio-printed tissues. The reduced need for animal testing, higher productivity, and a quicker drug discovery process are the benefits of bio three-dimensional printing.
Moreover, medical personnel may now replace fractured bones and replace organs with those made via bio three-dimensional printing. In addition, it allows for the printing of prosthetic limbs, which can be used to replace the missing limbs of amputees. In addition, compared to the conventional technique, which is rather time-consuming and depends on a healthy human donor with matching blood type, three-dimensional bioprinting allows for faster availability of organs and tissues.
Additionally, due to the enormous discrepancy in the number of organ donors and recipients, the waiting list for transplants continues to lengthen. Bio-engineered organs are being developed by researchers to address this issue, backed by extensive research on the creation of 3D-printed transplantable organs.
APAC To Experience Highest Compound Annual Growth Rate
Asia-Pacific would be the fastest-growing region in the global market for 3D bioprinting, with over 20% CAGR, during 2021–2030.
The major factors augmenting the growth of the industry in the region include the increasing stem cell research, huge gap in tissue and organ demand and supply, improving healthcare infrastructure, and increasing prevalence of chronic diseases.
The aging population is another key factor driving the growth of the Asia-Pacific bio 3D printing market. According to the UN, the share of people aged 65 years or over is expected to increase from 9.3% in 2020 to 16.0% by 2050 in the total population of the region. Moreover, the improving healthcare infrastructure and rapidly growing healthcare industry are fueling the growth of the Asia-Pacific bio three-dimensional printing market.
Additionally, Europe was the second-largest market for three-dimensional bioprinting in 2021, driven by the increase in the demand for tissues and organs for transplantation and rise in R&D activities. In addition, the high prevalence of chronic diseases and technological advancements in the healthcare sector are driving the European market.
The most-significant 3D bioprinting market players are BICO Group AB, Organovo Inc., 3D Systems Corporation, CollPlant Biotechnologies Ltd., regenHU Ltd., Desktop Metal Inc., Aspect Biosystems Ltd., Advanced Solutions Inc., Cyfuse Biomedical K.K., and General Electric Company.