3D Bioprinting Market

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The Global 3D Bioprinting Market is valued at USD 1.5 Billion in 2021 and is projected to reach a value of USD 3.7 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 20.2% over the forecast period.

The 3D Bioprinting Market is gaining popularity due to the increased use of 3D Bioprinting in the pharmaceutical and cosmetics industries. The spike accelerates the expansion of the 3D Bioprinting Market in public and private funding for bioprinting research activities and ongoing technological developments in the sector. This market is expanding due to an aging population with chronic respiratory diseases and a shortage of organ donors.

Furthermore, the market will be benefitted from increasing growth prospects in the future due to the increase in research and development (R&D) and medical device spending. The need for orthopedic implants is anticipated to increase globally as older people are more susceptible to osteoarthritis, peripheral vascular disease, and diabetes-related gangrene.

With the COVID-19 infection's rapid spread, 3D Bioprinting can be used to produce vital medical equipment, thus rising its demand further. Additionally, the market for 3D Bioprinting is positively impacted by an increase in research and development activities, an increase in public knowledge of the technology, acceptance of cutting-edge technologies, and an increase in healthcare spending. The need for stem cell and regenerative medicine is also increasing, providing lucrative opportunities for 3D Bioprinting Market participants during the projected year.

On the other hand, excessive costs associated with 3D Bioprinting and a lack of regulatory norms controlling the technology are projected to hinder the market's expansion. The market for 3D Bioprinting is anticipated to be challenged by the rise in socio-ethical considerations associated with 3D printed products.

Top Market Trends

• The 3D Bioprinting Market is gaining popularity due to the increased use of 3D Bioprinting in the pharmaceutical and cosmetics industries.
• In 2021, the clinical application registered the highest revenue share of 53% in the market.
• In 2021, the 3D bioprinters segment held the largest share of the global market.
• To stay ahead of the competition, the market's top companies participate in product innovation, Research and Development (R&D) activities, new launches, and product approval.

Market Segmentation:

The 3D Bioprinting Market is segmented based on Technology, Applications, Components, End Users, Materials, and Region. Based on the Technology, the market is further segmented into Inkjet-based, Magnetic Levitation, Syringe-based, Laser-based, and Other Technologies. Furthermore, based on the Applications segment, the market is further divided into Medical, Dental, Biosensors, Consumer/ Personal Product Testing, Food & Animal Products, and Other Applications. In addition, based on the Components, the market is further bifurcated into 3D Bioprinters and Bio inks. Additionally, based on the End Users, the market is further divided into Research Organizations, Academic Institutes, Biopharmaceuticals Companies, and Hospitals. Furthermore, based on the Materials, the market is further bifurcated into Hydrogels, Living Cells, Extracellular Matrices, and Other Biomaterials.

Based on Applications:

The Medical Applications category dominated the market in 2021

The Medical Applications segment registered the highest revenue share in the market due to technological advancement and increasing applications. There are also sub-markets within the Research application, such as those catering to the study of drugs, the development of replacement tissues, and the cultivation of cells in three dimensions. The skin, blood vessels, and bone and cartilage are the individual sub-markets of clinical applications. The market for Medical Applications is expanding due to the widespread use of pharmaceutical pills to treat various chronic conditions. The segment is also driven by the increasing demand for pharmaceuticals and the growing use of bio-drugs in this market. The demand for pharmaceutical products is rising along with the number of players in the sector. Globally, millions of individuals regularly use pills and capsules for medical purposes.

Based on Components:

3D Bioprinters Category Dominated the Market in 2021

The 3D Bioprinters segment dominated the 3D Bioprinting Market. The segment is also fuelled by the rising pharmaceutical demand and effective application of bio-drugs in this technology. This market's development is driven by technological developments and the rising need for organ transplants. Regenerating organs and tissues fit for transplant is the most typical use of 3D Bioprinting in medicine. As the number of COVID-19 illness cases rises, there is a growing urge for organ and tissue production. Several 3D Bioprinting Market participants are developing a COVID-19 vaccine to get around the impacts of the outbreak. The need for pharmaceutical products and the number of industry participants are expanding. Millions of people utilize tablets and capsules regularly for medical reasons worldwide. This market segment is therefore predicted to expand profitably throughout the forecast period.

Based on Regional Analysis:

North America had the Largest Share in 2021

North America had the largest market share. Due to considerable public and private investments in developing cutting-edge 3D Bioprinting technology, the high adoption rate of these innovative technologies, and the presence of important market players, North America holds a sizable percentage of the industry. The market is anticipated to rise due to the growing adoption of IT in the healthcare sector. The government is investing more in research and development to create a vaccine for this condition. There is a growing need for 3D Bioprinting because this technology has been approved for use in drug testing and organ donation.

Recent Developments:

• In March 2022, BICO Group AB (US) launched the BIO CELLX, a novel system that automates 3D cell culture workflows by leveraging revalidated protocols.
• In September 2021, to minimize entry barriers for businesses wishing to embrace 3D printing for making molds for low volumes or parts with detailed features faster and more commercially, Covestro and Envision TEC announced their partnership on material printer solutions.
• In June 2021, an agreement for the joint development of a 3D-bioprinted regenerative soft tissue matrix for use in breast reconstruction surgeries in conjunction with an implant was struck between Coll Plant Biotechnologies Ltd. (Israel) and 3D Systems, Inc. (the US).
• In November 2019, BASF GmbH acquired Sculpted, a 3D printing service provider. This acquisition is anticipated to help BASF to market and establish new industrial 3D printing materials more quickly.

Competitive Landscape:

The key players in the Global 3D Bioprinting Market include- Envisiontec Inc., Organovo Holdings Inc., Inventia Life Science PTY LTD, Poietis, Vivax Bio LLC, Allevi, Cyfuse Biomedical K.K., 3D Bioprinting Solutions, Cellink Global, Regemat 3D S.L. and others.

Segmentation of the Global 3D Bioprinting Market: