July 19, 2024
3d Bioprinting Market
Ict

The Increasing Use Of 3D Bioprinting In Regenerative Medicine Applications Is Anticipated To Openup The New Avanue For 3D Bioprinting Market

Market Overview:

3D bioprinting is an advanced manufacturing technique that involves printing of biological materials together with living cells or bioactive molecules to generate three-dimensional biomimetic scaffolds or implantable tissues and organs. 3D bioprinting has important applications in producing customized implants, disease models, bioprinted scaffolds and external tissues which conventionally require skin or organ transplants. The increasing investments in R&D to develop 3D bioprinted tissues and organs and growing adoption of 3D bioprinting technology in regenerative medicine are expected to drive the market growth over the forecast period.

Market Dynamics:

The rising prevalence of chronic medical conditions and injuries requiring organ replacement or transplantation is majorly fueling the growth of global 3D bioprinting market. According to the Global Observatory on Donation and Transplantation, in 2020, around 142,600 solid organ transplants were carried out globally. However, the demand for organ transplants far exceeds the number of organs available for transplant. 3D bioprinting can potentially address this issue by developing transplantable organs using the patient’s own cells. Furthermore, increasing product launches and commercialization of 3D bioprinted tissues is also promoting the adoption of 3D bioprinting technology. For instance, in 2021, Organovo launched the first 3D bioprinted tissue treatment for ulcerative colitis in the European market.

The global 3d Bioprinting Market Size is estimated to be valued at US$ 1281.57 Mn in 2023 and is expected to exhibit a CAGR of 21.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Rising funding from both private and public organizations for 3D bioprinting research is another factor boosting the market growth. Significant investments in R&D are being made to develop complex tissues and whole organ equivalents suitable for transplantation in humans using 3D bioprinting technology. However, limitations in 3D printing technology and lack of appropriate vascularized complex tissues are some of the factors hindering the market growth.

Segment Analysis

The 3d bioprinting market can be segmented based on material type, application, and end user. The material type segment can be further divided into living cells, hydrogels, and others. Within this, the living cells segment currently dominates the market as it helps in bioprinting tissues and organs. Living cells allow the regeneration of functional tissues and organs for transplantation.

PEST Analysis

Political: regulation changes by governing bodies relating to organ transplantation and tissue engineering boost the 3d bioprinting market.
Economic: the growing healthcare expenditure worldwide especially on regenerative medicines and rising disposable incomes fuel market growth.
Social: increasing incidences of chronic diseases and genetic disorders raising the need for reliable organ replacement therapies drive demand.
Technological: advancements in 3d printing technologies and biomaterials suitable for bioprinting tissues and organs support market expansion.

Key Takeaways

The global 3d bioprinting market is expected to witness high growth, exhibiting CAGR of 21.% over the forecast period, due to increasing demand for organ transplantation. The market size for 2023 is US$ 1281.57 Mn.

Regional analysis indicates North America currently dominates the global market and is projected to remain the highest revenue generating region throughout the forecast period. This is attributed to rising prevalence of chronic diseases, growing aging population, and presence of major market players in the region.

Key players operating in the 3d bioprinting market include 3D Systems Corporation, Cyfuse Biomedical KK, GeSIM GmbH, 3D Bioprinting Solutions, Aspect Biosystems Ltd., Organovo Holdings Inc., ARCAM AB, Cellink AB, RegenHU SA, REGEMAT 3D, EnvisionTEC GmbH and Stratasys Ltd. Strategic partnerships and product launches are some of the key strategies adopted by these major companies to strengthen their market position.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it