3D Bioprinting Market Forecasts to 2028 – Global Analysis By Component (3D Bioprinters and Bioinks), Material (Biomaterials), Application (Medical, Drug Testing & Research, Clinical Transplantation, Food Testing and Other Applications), End User and By Ge

3D Bioprinting Market Forecasts to 2028 – Global Analysis By Component (3D Bioprinters and Bioinks), Material (Biomaterials), Application (Medical, Drug Testing & Research, Clinical Transplantation, Food Testing and Other Applications), End User and By Geography

According to Stratistics MRC, the Global 3D Bioprinting Market is accounted for $2.05 billion in 2022 and is expected to reach $5.50 billion by 2028 growing at a CAGR of 17.9% during the forecast period. Live cells are combined with biomaterials in a process called 3D bioprinting that enables precise layer-by-layer deposition of the cells or bio-ink. This is distinguished by hierarchical structural characteristics that preserve cellular viability in 3D environments to produce multifaceted and complex tissues. The end results of this technique can be products that mimic the biological and functional characteristics of the tissues and structures that make up the human body naturally.

According to an article by Interesting Engineering, engineers at the University of New South Wales, Sydney, published a paper wherein they successfully developed a 3D bio-printed device, F3DB, that can directly transfer multi-layered biomaterials on the surface of the tissues and internal organs.

Market Dynamics:

Driver:

Increasing use of 3D bioprinting in the pharmaceutical and cosmetic industries

The market has been significantly influenced by the growing use of 3D bioprinting in the pharmaceutical and cosmetic industries. Complex 3D structures can be created using 3D bioprinting, which is not possible with conventional techniques. This has made it possible to produce intricate drug formulations and molecules, as well as cosmetic products like synthetic skin, hair follicles, and other tissues. The pharmaceutical and cosmetic industries' rising need for 3D bioprinted products has been a key market driver.

Restraint:

Lack of qualified professionals

One of the main market constraints is the lack of qualified professionals in the market. The market's expansion has been hampered by a lack of qualified professionals as demand for cutting-edge 3D bioprinting technology rises. To operate and maintain 3D bioprinting equipment, skilled professionals are required. The likelihood that 3D bioprinting technology will realize its full potential has been reduced by a lack of qualified professionals. The high cost of hiring and training qualified professionals is another factor impeding market expansion.

Opportunity:

Funding from the governments

Governments from various nations are working together to fund research and development projects involving 3D bioprinting. For instance, the first five research universities received a grant from the US Food and Drug Administration (FDA) for three dimensional bioprinting research and development totaling USD 2.5 billion. The grant recipients included Harvard University, Carnegie Mellon University, Rutgers University, Massachusetts Institute of Technology, and Georgia Institute of Technology. This is a significant factor that is predicted to boost the three-dimensional bioprinting market's revenue growth over the forecast period.

Threat:

Absence of regulatory standards

The absence of regulatory standards for 3D bioprinting is anticipated to impede market revenue growth. For instance, the FDA's Center for Biologics Evaluation and Research (CBER), which oversees the sale of biological commodities, has neither approved any 3D-printed biological products nor made any explicit recommendations regarding their use. The absence of regulatory standards, however, places a constraint on the growth of the 3D bioprinting market.

Covid-19 Impact

Due to disrupted supply chains, increased demand for treatments and materials, and manufacturing technology advancements, the COVID-19 pandemic significantly accelerated these fields' technological development. There is a growing need for organ and tissue production as the number of COVID-19 illness cases rises. The COVID-19 vaccine is being developed by a number of 3D bioprinting market participants to mitigate the effects of the outbreak. As well as the number of industry participants, the demand for pharmaceutical products is rising. Moreover, the 3D printing community responded to the COVID-19 situation by supporting the development of essential hospital equipment.

The 3D bioprinters segment is expected to be the largest during the forecast period

Due to the widespread use of pharmaceutical pills to treat a variety of chronic conditions, the 3D bioprinters segment is expected to hold the largest market share during the forecast period. The growing demand for pharmaceuticals and the effective application of bio-drugs in this technology are other factors driving the segment. Along with an increase in industry participants, the demand for pharmaceutical products is also rising. Millions of people regularly take pills and capsules for medical reasons all over the world. As a result, it is anticipated that this market segment will expand profitably over the course of the forecast period.

The medical segment is expected to have the highest CAGR during the forecast period

The medical segment is expected to witness lucrative growth during the forecast period. The market for 3D bioprinting is expanding due to the widespread use of pharmaceutical pills to treat a variety of chronic diseases. Additionally, the segment is also being driven by the expanding demand for medicines and the efficient use of bio-drugs in this technology.

Region with largest share:

Over the forecast period, North America is anticipated to dominate the global market. The increased target population count in North America is blamed for the area's dominance. The North American 3D bioprinting market is expected to experience growth opportunities due to the presence of key players and the region's sophisticated healthcare infrastructure. In the upcoming years, it is anticipated that increased regional players' investments in a variety of R&D initiatives will also help the market grow.

Region with highest CAGR:

Asia Pacific is estimated to witness the highest CAGR over the projection timeframe, owing to a senior population and favorable government initiatives and policies to strengthen the healthcare sector in this region. By 2030, the Japanese government projects that the regenerative medicine industry will have grown to 1 trillion yen. Due to the rise in COVID-19 cases and government R&D spending, Japan and China accounted for the lion's share of the revenue. Furthermore, COVID-19's increased mortality rate and the scarcity of organ donors are expected to fuel the expansion of the regional market.

Key players in the market

Some of the key players profiled in the 3D Bioprinting Market include 3D Bioprinting Solutions, 3D Systems Corporation, Advanced Solutions Life Sciences, LLC, Allevi Inc., Arcam AB, Aspect Biosystems Ltd., Bico group ab, Bio3D Technologies Pte. Ltd., Cellink, Collplant Biotechnologies Ltd., Cyfuse Biomedical K.K., Electro Optical Systems, Envision TEC GmbH, Foldink Life Science Technologies, Formlabs, Inc., GE Healthcare, GeSIM GmbH, Inventia Life Science PTY LTD, Optomec Inc., Organovo Holdings Inc., Pandorum Technologies pvt. ltd., Poietis, Precise Bio, REGEMAT 3D, Regenovo Biotechnology Co. Ltd., Renishaw plc., Revotek co., ltd., Rokit Healthcare, inc. and Stratasys Ltd.

Key Developments:

In June 2022, Humabiologics and REGEMAT 3D announced a non-exclusive distribution agreement in order to respond to the increasing demand and serve a broader life science customer base of academic institutes and its industry partners in the European drug testing and bioprinting market.

In May 2022, Organovo Holdings announced it had successfully advanced its first Inflammatory Bowel Disease (IBD) model to target the discovery and validation of Crohn’s Disease. Based on the internal data, the company believes its IBD model can correctly demonstrate important aspects of Crohn’s patient biology that differ from a non-diseased person.

In April 2021, Aspect Biosystems Ltd announced a partnership with JDRF, a pioneer in diabetes research and advocacy. Through the partnership, the companies will focus on developing 3D bio-printed tissue that is capable of treating type 1 diabetes.

Components Covered:
• 3D Bioprinters
• Bioinks

Materials Covered:
• Biomaterials

Applications Covered:
• Medical
• Drug Testing & Research
• Clinical Transplantation
• Food Testing
• Regenerative Medicine
• Consumer/Personal Product Testing
• Cancer Research
• Biosensors
• Other Applications

End Users Covered:
• Research Organizations & Academic Institutes
• Biopharmaceutical Companies
• Hospitals

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements