PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1485946
PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1485946
The global 3D bioprinting market is set to experience substantial growth, with its value projected to reach $2.6 billion in 2024 and further escalate to $5.9 billion by 2031. This impressive expansion reflects a compound annual growth rate (CAGR) of 12.4% from 2024 to 2031. The surge in demand for organ transplants, rapid technological advancements, and increasing academic interest are key factors driving this market's growth.
Rising Demand in Healthcare for 3D Bioprinting
The healthcare sector has seen a marked increase in demand for 3D bioprinting solutions. These advanced technologies are crucial for developing organs and constructing tissues, which are essential for medical implants and drug-related research and development (R&D) activities. Although still in its nascent stage, the 3D bioprinting market holds tremendous potential for producing human tissue replacements, representing a significant breakthrough in the medical field.
One of the primary uses of 3D bioprinting is drug testing. The capability to test drug compounds on bioprinted tissues before human trials accelerates the drug development process and improves accuracy and efficiency.
Growing Academic Interest in 3D Bioprinting
Academicians worldwide are increasingly focusing on 3D bioprinting. Numerous researchers are founding start-ups to commercialize this innovative technology, developing various products based on bioprinting. For example, Aspect Biosystems is working on printing tissue models for toxicity testing, TeViDo BioDevices is developing breast tissues, and SkinPrint is creating human skin. These advancements highlight the diverse applications of 3D bioprinting technology and its potential to meet critical healthcare needs.
North America: Leading the Market
North America is expected to dominate the global 3D bioprinting market in the coming years. This dominance is attributed to the region's large target population, presence of key market players, and advanced healthcare infrastructure. Additionally, increased R&D investments by regional players are anticipated to further boost market growth in North America.
Recent Market Developments
In March 2022, BICO Group AB (US) launched BIO CELLX, a novel system designed to automate the workflow of 3D cell culture using prevalidated protocols. This innovation marks a significant milestone in the commercialization of 3D bioprinting technology.
Competitive Landscape
Currently, the 3D bioprinting market comprises 14 industry-sponsored bioprinters focused on various commercial applications. Addressing the supply-demand gap for organ transplants remains an unmet need, with researchers striving to create bioprinted organs for future transplants. The market relies on biocompatible materials (bio-ink and bio-paper), software (CAD), and hardware (bioprinters).
The market's focus is expected to shift from research to commercialization, with tissue engineering (skin and cartilage) and drug testing (skin and cartilage) applications gaining popularity. The initial success of bioprinted organ transplants is anticipated to significantly boost the market, potentially transforming it into a multi-billion-dollar industry.
Aspect Biosystems aims to drastically reduce the cost and time required for drug development and testing, leading to treatments for currently incurable diseases and more affordable healthcare options. Other notable companies in the bioprinting market include SkinPrint, which is developing replacement skin for burn patients and individuals with skin disorders, and Advanced Biomatrix, 3D Biotek, 3D Systems, Avita Medical, among others.
Institutional Support and Research Grants
To promote innovation in 3D bioprinting, the U.S. FDA has awarded a grant of $2.5 million to five research institutions for biomanufacturing research, including 3D bioprinting. The recipient institutions are Carnegie Mellon University, Harvard University, Georgia Institute of Technology, Rutgers University, and the Massachusetts Institute of Technology. These grants underscore the importance of collaborative efforts between institutions and industry players to advance the 3D bioprinting market.
Key Market Players Include
Global 3D Bioprinting Market Segmentation