CHICAGO, May 17, 2024 /PRNewswire/ -- 3D Bioprinting Market in terms of revenue was estimated to be worth $1.3 billion in 2024 and is poised to reach $2.4 billion by 2029, growing at a CAGR of 12.7% from 2024 to 2029 according to a new report by MarketsandMarkets.
The growth in the 3D bioprinting market is fueled by growing adoption of 3D bioprinting technology within the pharmaceutical and cosmetic industries, advancement in the 3D bioprinting technology, rising public and private partnerships and collaborations, increasing investments in R&D and the expenditure on medical devices.
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3D Bioprinting Market Scope:
Report Coverage | Details |
Market Revenue in 2024 | $1.3 billion |
Estimated Value by 2029 | $2.4 billion |
Growth Rate | Poised to grow at a CAGR of 12.7% |
Market Size Available for | 2022-2029 |
Forecast Period | 2024-2029 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Component, By Material, By Application, By End User |
Geographies Covered | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
Report Highlights | Updated financial information / product portfolio of players |
Key Market Opportunities | Rising demand for organ transplants |
Key Market Drivers | Growing adoption of 3D bioprinting technology within the pharmaceutical and cosmetic industries |
The 3D Bioprinters segment segment is expected to have the dominant share of the 3D bioprinting market in 2023.
Based on component, the global 3D bioprinting market is segmented into 3D bioprinters, bioinks, software and consumables. 3D bioprinters accounted for the larger market share in 2023. The segment is witnessing growth driven by technological innovations and escalating demand for organ transplantation services.
The Research applications segment is expected to account for the largest share of the application segment in the 3D bioprinting market in 2023.
Based on application, the 3D bioprinting market is segmented into research applications and clinical applications. research applications segment accounted for the larger share of the 3D bioprinting market in 2023. The market for research applications is further segmented into drug research, regenerative medicine, and 3D cell culture. Among these, the drug research segment accounted for the largest share of the market during forecast period of 2024-2029, due to the pharmaceutical & biotechnology firms intensifying their integration of 3D bioprinting technology.
The Asia Pacific region is anticipated to grow at significant CAGR during the forecast period.
The Asia Pacific is accounted to be the fastest-growing segment of the market. Large population base and robust domestic manufacturing capabilities for systems, fostering heightened partnerships and collaborations geared towards healthcare enhancement characterized by substantial investment in research and development (R&D), rising demand for organ transplants, rising government funding for advancement of 3D bioprinting technology in the region. Additionally, notable surge in stem cell research activities across several APAC countries, further contributing to the biomedical landscape is driving 3D bioprinting uptake in the region.
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3D Bioprinting Market Dynamics:
Drivers:
1. Growing adoption of 3D bioprinting technology within the pharmaceutical and cosmetic industries
Restraints:
1. High cost of 3D bioprinters and bioinks
Opportunities:
1. Rising demand for organ transplants
Challenge:
1. Biocompatibility issues and rigorous sterilization protocols
Key Market Players of 3D Bioprinting Industry:
BICO Group AB (US), 3D Systems, Inc. (US), Merck KGaA (Germany), Organovo Holings Inc (US), CollPlant Biotechnologies Ltd. (Israel), regenHU (Switzerland), Aspect Biosystem Ltd. (Canada), Advanced Solutions Life Sciences, LLC (US), Cyfuse Biomedical K.K (Japan), Rokit Healthcare Inc. (South Korea), Hangzhou Genofei Biotechnology Co., Ltd. (China), Foldink (Armenia), Brinter (US) and 3D bioprinting solution (Russia) and REGEMAT 3D, SL (Spain) are some of the leading players in this market. Most companies in the market focus on organic and inorganic growth strategies, such as product launches, expansions, acquisitions, partnerships, agreements, and collaborations, to increase their product offerings, cater to the unmet needs of customers, increase their profitability, and expand their presence in the global market.
The primary interviews conducted for this report can be categorized as follows:
- By Respondent: Supply Side- 70%, and Demand Side - 30%
- By Designation (Supply Side): Managers - 45%, CXOs & Directors - 30%, Executives- 25%
- By Region: North America -40%, Europe -25%, Asia-Pacific -20%, Latin America -10%, Middle East-and Africa -5%
Recent Developments of 3D Bioprinting Industry:
- In February 2024, BICO Group AB (Cellink) launched DNA Studio 4 Vault, a bioprinting software, providing users with confidence and trust in their documentation, enabling a faster translation from the research lab to the clinic
- In February 2024, Merck KGaA (Germany) established a distribution center in Brazil with an investment of USD 21.7 million to better serve its Life Science customers for faster deliveries in the region.
- In April 2023, Aspect Biosystem Ltd (Canada) and Novo Nordisk (Denmark) entered into a collaboration, development, and Licence agreement to develop bioprinted tissue therapeutics designed to replace, repair, or supplement biological functions inside the body to deliver a new class of truly disease-modifying treatments for diabetes and obesity.
- In April 2023, CollPlant Biotechnologies Ltd (Israel) and Stratasys (US) entered into a collaboration for the development of collaborated to develop a solution to bio-fabricate human tissues and organs using Stratasys' P3 technology-based bioprinter and CollPlant's rh-Collagen-based bioinks
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3D Bioprinting Market - Key Benefits of Buying the Report:
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall 3D bioprinting market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
- Analysis of key drivers (growing adoption of 3D bioprinting technology in the pharmaceutical and cosmetic industries, technological advancement in the 3D bioprinting , increasing number of public-private partnerships, rising investments in R&D and medical devices), opportunities (Rising demand for organ transplants and growing demand for regenerative medicine and stem cell research) and challenges (biocompatibility issues and rigorous sterilization protocols and ethical concerns related to the use of 3D bioprinted products) are influencing the growth of 3D bioprinting market.
- Product Development/Innovation: Detailed insights on newly launched products of the 3D bioprinting market.
- Market Development: Comprehensive information about lucrative markets - the report analyses the 3D bioprinting market across varied regions.
- Market Diversification: Exhaustive information about new services, untapped geographies, recent developments, and investments in the 3D bioprinting market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players include BICO Group AB (Sweden), 3D Systems Inc. (US), Merck KGaA (Germany), Organovo Holdings Inc (US), Collplant Biotechnologies Ltd (Israel), regenHU (Switzerland), Aspect Biosystem (Canada), Advanced Solutions Life Sciences, llc (US), Cyfuse Biomedical K.K (Japan), Rokit Healthcare (South Korea), Hangzhou Genofei Biotechnology Co., Ltd. (China), Foldink (Armenia), Brinter (US) and 3D bioprinting solution (Russia).
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