PUBLISHER: The Business Research Company | PRODUCT CODE: 1390921
PUBLISHER: The Business Research Company | PRODUCT CODE: 1390921
“3D Bioprinting Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on 3d bioprinting market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for 3d bioprinting? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The 3d bioprinting market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
3D Bioprinting, a form of additive manufacturing, involves the layer-by-layer printing of live structures that emulate the behavior of living systems. This process utilizes cells and biocompatible materials, commonly referred to as bio-inks. The primary application of 3D bioprinting materials is in drug research, and more recently, in the creation of cell scaffolds for repairing damaged ligaments and joints.
The key components in 3D bioprinting include 3D bioprinters and bio-inks. 3D bioprinters employ three-dimensional technology along with biocompatible materials to replicate various body parts, facilitating the bioprinting of tissues, bones, organs, blood vessels, and biomedical components. The materials involved in the process encompass living cells, hydrogels, extracellular matrices, and others. The application of 3D bioprinting extends to research and clinical settings, among others, and finds implementation in diverse sectors such as research organizations, academic institutes, biopharmaceutical companies, hospitals, and more.
The 3D bioprinting market research report is one of a series of new reports from The Business Research Company that provides 3D bioprinting market statistics, including 3D bioprinting industry global market size, regional shares, competitors with a 3D bioprinting market share, detailed 3D bioprinting market segments, market trends and opportunities, and any further data you may need to thrive in the 3D bioprinting industry. This 3D bioprinting market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The 3d bioprinting market size has grown rapidly in recent years. It will grow from $1.59 billion in 2023 to $1.9 billion in 2024 at a compound annual growth rate (CAGR) of 19.8%. The growth observed during the historical period can be attributed to factors such as increased funding for research and development, the proliferation of chronic diseases, a shortage of organs for transplantation, a rise in pharmaceutical testing, and the expansion of tissue engineering initiatives.
The 3d bioprinting market size is expected to see exponential growth in the next few years. It will grow to $4.15 billion in 2028 at a compound annual growth rate (CAGR) of 21.6%. The anticipated growth in the forecast period can be attributed to advancements in healthcare, the increasing development of bio printed skin, a growing awareness among patients, and the aging population. Notable trends in this forecast period encompass the adoption of multi-material printing, advancements in vascularization techniques, the emergence of organ-on-a-chip technology, the customization of implants, and the exploration of bio fabrication in space.
Increased funding from both government and private sectors to support research activities in 3D bioprinting is projected to be a significant driving force behind the growth of the 3D bioprinting market in the coming forecast period. The expanding applications of 3D bioprinting in the healthcare sector have attracted substantial financial backing from these entities, offering vital financial and technical assistance across various developmental phases of 3D bioprinting techniques. Notably, in May 2021, Readily3d SA, a Swiss bioprinting company, secured a substantial funding of $600,000 from the European Union to advance its Tomolite 3D bioprinting technique, specifically aimed at developing a living miniature model of the pancreas. Similarly, in June 2020, the Australian Minister for Health provided Curtin University with a funding of $737,690 to innovate and optimize 3D technology for bioprinting skin tissue directly onto model wounds, as an initial step towards human skin restoration.
The anticipated rise in chronic diseases is set to be a driving factor in the prospective growth of the 3D bioprinting market. Chronic diseases, persisting over extended periods-typically three months or more, and often for a person's lifetime-have increasingly utilized 3D bioprinting for creating tissue models, aiding in chronic disease research and potential organ replacement therapies. For example, as per the World Health Organization's September 2022 report, approximately 41 million deaths globally annually, representing 74% of fatalities, are attributed to non-communicable diseases (NCDs) or chronic diseases. This alarming figure includes 17.9 million deaths from cardiovascular diseases, 9.3 million deaths from cancer, 4.1 million deaths from chronic respiratory diseases, and 2.0 million deaths from diabetes. Consequently, the upsurge in chronic diseases is a significant driver behind the growth of the 3D bioprinting market.
Key players in the 3D bioprinting market are introducing advanced, cost-effective next-generation bioprinters like the BIO MDX Series, focused on enhancing precision. The BIO MDX Series, the latest iteration of bioprinters, is tailor-made for high-throughput fabrication and precise 3D bioprinting within biomedical manufacturing. For instance, in March 2021, Cognex Corporation, a Swedish bioconvergence company, introduced the BIO MDX Series, optimized to meet the increasing demands in tissue engineering and regenerative medicine. As 3D bioprinting gains prominence among researchers, the necessity for heightened automation, accuracy, and reproducibility is underscored. This next-gen series, equipped with up to six printheads and integrated nanoliter and picoliter dispensing channels, caters to advanced cell-based technologies, addressing the field's evolving needs.
Artificial intelligence (AI) has seen an increasing integration within the 3D bioprinting market, contributing significantly to the creation of bio-tissues in a layer-by-layer approach from digital 3D models. Utilizing a combination of cells, growth factors, and biomaterials, AI, a technology branch emulating human behavior in machines, is employed in bioprinting to offer guidance on optimal printing parameters necessary for generating biocompatible tissues tailored to a patient's physiological structure. This involves data analysis and pattern recognition throughout the bioprinting process. For example, in June 2021, researchers from Queensland University of Technology's (QUT) Center in Transformative Biomimetics in Bioengineering, in collaboration with Oregon University, integrated AI and machine vision into 3D printers for manufacturing custom medical implants.
In May 2021, 3D Systems, a prominent US-based company specializing in 3D bioprinting technology, made public the acquisition of Allevi Inc., although the acquisition amount was undisclosed. Through this acquisition, 3D Systems aims to leverage Allevi's expertise in developing future applications, particularly in the long-term goal of human organ development, positioning itself as a market leader in bioprinting. Allevi Inc., a US-based firm, manufactures 3D bioprinters and bio-inks utilized by researchers within the field.
Major companies operating in the 3d bioprinting market include Organovo Holdings Inc., Allevi Inc., Cellink AB, Aspect Biosystems Ltd., 3D Systems Corporation, Cyfuse Biomedical KK, EnvisionTEC GmbH, Poietis SA, TeVido BioDevices, Nano3D Biosciences Inc., Digilab Inc., RegenHU Ltd., GeSiM mbH, Advanced Solutions Life Sciences LLC, Regenovo Biotechnology Co. Ltd., Regemat 3D S.L., Bio3D Technologies, Stratasys Ltd., ROKIT Healthcare Co. Ltd., Inventia Life Science Pvt. Ltd., Vivax Bio LLC, GE HealthCare Technologies Inc., 3D Biotek LLC, Nuclera Nucleics Ltd., 3D Fortify Inc., Carbon Inc., Divergent Technologies Inc., Markforged Inc., SprintRay Inc., 3D Bio Corp, 3D Bioprinting Solutions, BICO Group AB, CollPlant Biotechnologies Ltd., Shining 3D Tech Co. Ltd., 3Dynamic Systems Ltd., Modern Meadow Inc.
North America was the largest region in the 3D bioprinting market in 2023. The Asia-Pacific is expected to be the fastest-growing region in the 3D bioprinting market during the forecast period. The regions covered in the 3D bioprinting market report analysis are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the 3D bioprinting market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The 3D bioprinting market consists of sales of extrusion-based bioprinting, inkjet-based bioprinting, laser-assisted bioprinting, and stereolithography bioprinting. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.