3D Bioprinting Market Size To Register a CAGR of 15.4% and Reach a value of USD 5.1 Billion by 2030
Research Reports
Dec 19, 2022
Market Research Future Insights
The 3D bioprinting market was valued USD 1.6 billion in 2021 and expected to reach USD 5.1 Billion by 2030 at a CAGR of 15.4% during the forecast period 2022-2030.
The advancement and degree of digitization in 3D biomaterials and bioprinting is growing at a high scale in cosmetology and pharmaceutical manufacturing and this factor is being backed by the increase in the availability of funds for the public and private segments. Also, the increasing support for bioprinting research activities is on the roll that potentials good growth for 3D bioprinting during the imminent years. The 3D printing community has answered to the COVID-19 crisis, assuring to support the production of vigorous medical equipment for hospitals grappling with this epidemic.
The COVID-19 pandemic has taken hold over the sphere, with even the healthcare systems being exploited. Hence, as a reaction to the increasing cases of COVID-19, several 3D Bioprinting communities are replying to the worldwide crises by contributing their respective skills to ease the load on the supply chain and governments. As the cases of COVID-19 are growing day by day, materials have been scarce for medical specialists as well as for the general public. One of the biggest issues is the lack of obtainability of test kits for COVID-19. Hence, various 3D bioprinting firms are manufacturing 3D printers and related software on a large scale.
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Regional Analysis
In Asia Pacific, the market accounted captured a revenue share of 23.7% of the 3D bioprinting industry in 2021 and is projected to continue its dominance during the estimated period. Japan and China accounted for the largest share in the region due to the growing incidence of COVID-19 cases and the growing investment of the government in R&D.
In North America, the market accounted for a revenue share of 31.6% in 2021 and is projected to lead throughout the estimated period. The growing incorporation of IT in the healthcare industry is estimated to stimulate the progress of the market over the forecast period.
Market Segmentation
The global 3D Bioprinting Market has been segmented into technology and application.
Based on technology, The global 3D Bioprinting Market has been segmented into Magnetic Levitation, Inkjet-based. The inkjet-based segment accounted for the largest share of 36.0% in 2021, as it permits the printing of complex living organs or tissues on the culture substrates with the assistance of biomaterials as bio-inks. The wide acceptance of inkjet-based printing in the medical field contributes to the segment’s growth.
Based on application, The global 3D Bioprinting Market has been segmented into Medical, Dental, Biosensors, and Bio inks. The medical segment dominated the market in 2021, with a share of 36.8%, and is expected to grow with a CAGR of 15.6% during the estimated period. The vast practice of medical pills to cure several chronic diseases is driving the growth of the market for 3D bioprinting.
Key Players
Some of the key market players are Organovo Holdings Inc. (US), EnvisionTEC GmbH (Germany), Allevi Inc. (US), Aspect Biosystems Ltd. (Canada), ROKIT Healthcare (South Korea), Cyfuse Biomedical K.K. (Japan), and CELLINK (Sweden)
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