3D Bioprinting Market by Component (3D Bioprinters (Microextrusion, Inkjet, Laser, Magnetic), Bioink (Natural, Synthetic, Hybrid)), Material(Hydrogel, Living Cells), Application (Research, Clinical), End user (Biopharma, Academia) – Global Forecast to 2027” The global 3D Bioprinting Market is projected to USD 3.3 billion by 2027 from USD 1.3 billion in 2022, at a CAGR of 20.8% between 2022 and 2027. Factors such as technological advancements in 3D bioprinters and biomaterials, increasing use of 3D bioprinting in the pharmaceutical and cosmetology industries, and rising public and private funding to support bioprinting research activities drive the market growth. However, factors like dearth of skilled professionals and high development and production costs are restraining the growth of this market.
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Key Player
Key players in the global 3D Bioprinting Market include BICO Group AB (US), Organovo Holdings Inc. (US), Allevi, Inc. (part of 3D Systems, Inc.) (US), CollPlant Biotechnologies Ltd. (Israel), regenHU (Switzerland), EnvisionTEC GmbH (part of Desktop Metal, Inc.) (Germany), Aspect Biosystems Ltd. (Canada), Advanced Solutions Life Sciences, LLC (US), and Regenovo Biotechnology Co., Ltd. (part of Shining 3D Tech Co., Ltd.) (China).
BICO Group AB (US) offers products for 3D cell cultures for high-throughput drug screening and printing of human tissues and organs. The company’s clients include the medical, pharmaceutical, and cosmetic industries. The company operates in two broad business segments, namely, Laboratory Solutions and Bioautomation (Industrial Solutions segment till 2020). The company has a strong geographic footprint with 14 subsidiaries and a global presence spanning North America, Europe, Latin America, and the Asia Pacific. From 2019 to 2021, the company has engaged in strategic developments such as acquisitions, product launches, and geographic expansions. Thus, the company is expected to witness significant growth in the global 3D bioprinting market.
3D Systems, Inc. (US) acquired Allevi, Inc. in 2021. The company develops and commercializes 3D tissues for use in the healthcare industry through Allevi. The company’s products include 3D bioprinters, bioinks, and software, which assist in the layer-by-layer printing of 3D living tissues. The company also specializes in regenerative medicine, tissue engineering, 3D bioprinting, and 3D printing. 3D Systems develops innovative 3D bioprinting solutions to maintain its dominant position in the 3D bioprinting market. For instance, in June 2021, 3D Systems, along with CollPlant, developed a 3D-bioprinted regenerative soft tissue matrix for use in breast reconstruction procedures. The company’s increased focus on research and development activities and strengthening its geographic presence are expected to facilitate its growth in the 3D bioprinting market.
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North America is the largest region and Asia Pacific is the fastest-growing region of the 3D Bioprinting market in 2021.
Based on region, the 3D bioprinting market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2021, North America dominated the market, followed by Europe. The significant government and private investments to develop advanced 3D bioprinting technologies, the high adoption rate of these technologies, and the presence of key market players in the region are responsible for the large share of North America in the 3D bioprinting market. The Asia Pacific market is projected to grow at the highest CAGR during the forecast period.
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