3D Bioprinting Market Research Report: By Technology (Microextrusion Bioprinting, Inkjet 3D Bioprinting, Laser-assisted Bioprinting, Magnetic 3D Bioprinting), By Material (Living Cells, Hydrogels, Extracellular Matrices), By Application (Research Applications, Clinical Applications), By End-user (Pharmaceutical & Biotechnology Companies, Research Organizations & Academic Institutes) - Global Forecast till 2027
ID: MRFR/MED/0367-CR | February 2021 | Region: Global | 163 pages
Market Overview
Global 3D Bioprinting Market share is projected to touch a value of USD 1,923.02 Million by 2023, states Market Research Future (MRFR) in its report. The market can display a CAGR of 24.59% during the forecast period due to its growing applications in tissue engineering and organ transplantation.
3D bioprinting encompasses an array of 3D printing methods to combine cells and biomaterials to produce biomedical parts. Although the technology is in high use for research and development purposes, its application in the production of tissues and organs is likely to garner high demand.
The prevailing pandemic, COVID-19, has generated the demand for companies to maintain a digital asset. In situations like these, the 3D printer aids to meet the requirement, which is expected to boost the 3D bioprinting market growth.
Market Dynamics
The cost-economical nature of 3D bioprinting is expected to brighten the bioprinting future. This is buttressed by the use of small implants and prosthetics used in the treatment of dental or craniofacial disorders. Furthermore, the presence of numerous players in the 3D bioprinting market can keep production costs low and augur well for the market in the forthcoming years.
However, lack of awareness of the technology and shortage of skilled professionals can act as growth deterrents in the market.
Drivers
Growing Demand for Organ Transplantation to Boost the Market
Growing demand for organ transplantation is projected to drive the market by 2023. The rising investments in 3D bioprinting via public and private means to widen its scope is likely to boost the market growth. Moreover, the cost-effectiveness of 3D bioprinted products is expected to develop the industry in the forecast timeframe.
Opportunities
Growing Application of 3D Bioprinting in Cosmetic Industry to Offer Lucrative Opportunities
The extensive usage of 3D bioprinting in the cosmetic industry is expected to offer various growth opportunities to the key players. The growing R&D, partnerships, and acquisitions are likely to augment the market in the coming period.
Restraints
Lack of Expertise to Hinder Market Growth
One of the major factors hindering the market growth is the lack of expertise and awareness is expected to obstruct the market growth during the forecast period.
Challenges
Socioethical Concerns Due to the usage of 3D Bioprinted products
The application of bioprinted products inside human bodies can grow biosafety concerns, which may also question some religious beliefs that can hinder the market growth. In addition, the concerns associated with waste elimination is expected to further restrict the market growth.
Cumulative Growth Analysis
Market is Expected to Grow Significantly in the Forecast Period
The market is anticipated to grow significantly in the coming period, at a rapid pace. The on-going technical development, the growing awareness, and the increasing 3D bioprinting applications are predicted to underpin the trade expansion at a global front.
Market Segmentation
The 3D bioprinting market is segmented by technology, material, application, and end-user.
By Technology
Inkjet 3D Bioprinting Segment to Exhibit Higher CAGR
Based on technology, the global market for 3D bioprinting is segmented into inkjet 3D bioprinting, microextrusion bioprinting, magnetic 3D bioprinting, and laser-assisted bioprinting. Among all, the microextrusion bioprinting segment is projected to witness a CAGR of 25.24% during the forecast period. This can be attributed to its growing applications in bioprinting. On the other hand, inkjet 3D bioprinting can exhibit 26.44% CAGR owing to being a viable alternative for scaffold fabrication.
By Material
Hydrogels to Thrive at a CAGR of 26.63% by 2023
By material, the global market for 3D bioprinting is segmented into living cells, extracellular matrices, and hydrogels. The hydrogels segment is expected to generate USD 652.54 million by 2023 at a CAGR of 26.63% during the forecast period.
By Applications
Research Applications Segment to Exhibit Higher CAGR due to its Growing Application in Regenerative Medicines
Based on applications, the global market for 3D Bioprinting market is segmented into research and clinical applications. The research applications segment is expected to exhibit a CAGR of 24.74% by 2023 owing to applications in 3D cell culture and regenerative medicine. The clinical applications segment is likely to hold the market value of USD 507.55 million by 2023 while expanding at a CAGR of 24.19% during the assessment period.
By End-Users
Pharmaceutical & Biotechnology Segment to Grow Due to Growing Demand for Personalized Medicines
Among end-users, the global market for 3D bioprinting market is segmented into pharmaceutical & biotechnology companies and research organizations & academic institutes. Pharmaceutical & biotechnology companies are projected to display a CAGR of 24.98% till 2023 owing to the trend in personalized medicines.
Regional Analysis
North America is expected to hold the Largest Market Share in the Global 3D Bioprinting Market
As per the 3D bioprinting industry analysis conducted by MRFR, the Americas is expected to acquire the market value of USD 689.91 million by 2023. This can be attributed to growing investments in research and development and the presence of advanced healthcare infrastructure. The demand for organ transplant is likely to rise to grow the regional market in the coming period. In addition, the on-going development of 3D printed pills, which can be customized as per the person’s age and body weight, is expected to offer various opportunities for expansion for the 3D bioprinting market.
The APAC is projected to acquire the market value of USD 507.18 million by 2023 at a CAGR of 27.25% during the forecast period. The APAC region is anticipated to grow at a rapid pace due to the development in 3D printing, incorporation of the latest technologies in the healthcare sector, and abundance of opportunities. In addition, increasing government funding to accelerate the pace of 3D printing technology is projected to augment the 3D bioprinting market size.
The Europe 3D bioprinting market is expected to acquire a market value of USD 649.91 million by 2023 due to the rising focus on health and wellness. Increased demand for cosmetic surgery can play a salient role in the market’s progress in the region. Furthermore, agreements between established players to expedite the evolution of technology can net novel results. This is exemplified by the deal signed between BASF SE and Poietis to improve skincare products by the former.
Competitive Landscape
Growing Initiatives to Expand Customer Base to Grow Competition
The growing collaboration and rising partnerships among key players is expected to strengthen the competitiveness of the global market for 3D bioprinting. The renowned players of the market are taking initiatives to grow their consumer base by incorporating innovation in their products.
Industry News
November 2020
Professor of Biomedical Engineering Adam Feinberg and his team have built the first-ever full-size 3D bioprinted human heart model with the usage of Freeform Reversible Embedding of Suspended Hydrogels (FRESH) technique.
Key Players
- REGENHU Ltd. (Switzerland)
- Nano3D Biosciences Inc. (U.S.)
- FUJIFILM Wako Automation Corporation (U.S.)
- Organovo Holdings Inc. (U.S.)
- Allevi (U.S.)
- Regenovo Biotechnology Co. Ltd. (China)
- Stratasys Ltd. (U.S.)
- Aspect Biosystems Ltd. (Canada)
- Poietis (France)
- EnvisionTEC GmbH (Germany)
- Cellink AB (Sweden)
- Cyfuse Biomedical K.K. (Japan)
Report Overview
The 3D bioprinting market is expected to expand significantly during the forecast period owing to the rapid advancement in healthcare.
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size |
|
| CAGR | 24.59% (2019-2023) |
| Base Year | 2019 |
| Forecast Period | 2020-2027 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Technology, Material, Application, and End-user |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | REGENHU Ltd. (Switzerland), Nano3D Biosciences Inc. (U.S.), FUJIFILM Wako Automation Corporation (U.S.), Organovo Holdings Inc. (U.S.), Allevi (U.S.), Regenovo Biotechnology Co. Ltd. (China), Stratasys Ltd. (U.S.), Aspect Biosystems Ltd. (Canada), Poietis (France), EnvisionTEC GmbH (Germany), Cellink AB (Sweden), Cyfuse Biomedical K.K. (Japan) |
| Key Market Opportunities | Growing Application of 3D Bioprinting in Cosmetic Industry |
| Key Market Drivers | Growing Demand for Organ Transplantation |
Frequently Asked Questions (FAQ) :
The 3D Bioprinting Market is predicted to touch USD 1,923.02 by 2023.
The 3D Bioprinting Market is projected to grow at a 24.59% CAGR between 2020-2027.
The Americas are projected to have a major share in the 3D Bioprinting Market.
Growing demand for organ transplantation is Boosting Market growth.
Lack of skilled professionals and lack of awareness may limit market growth.
Global 3D Bioprinting Market - Summary
Overview
The global 3D bioprinting market is poised to touch a size of USD 1,923.02 million by 2023. It is predicted to exhibit a CAGR of 24.59% during the forecast period. Growing demand for organ transplantation is expected to spur the market growth till 2023. Rising incidence of organ failure due to aging, accidents, and diseases have created a gap for functioning organs. 3D bioprinting can close the gap by producing them on a massive scale.
The cost-effective nature of the technology is projected to drive the market demand. Opportunities in manufacturing pills in the pharmaceutical industry as well as producing implants and prosthetics can augur well for the market.
Rise in investments for research and development to widen the scope of the technology can contribute to market growth. Funding by venture private and public firms can facilitate in its growth. In addition, partnerships between firms have been known to boost market growth. For instance, Organovo Holdings entered into a multi-year agreement with Merck in 2015. It allowed the latter to gain access to the latter’s bioprinting platform to develop customized tissue models.
Industry Opportunity
Entry of various startup companies such as Nano 3D Bioscience and Cyfuse Biomedical in the industry is expected to open up new avenues for expansion. Prominent companies can gain entry by acquiring small and medium startups and gain an enviable position in the market.
Segmentation Analysis
Technologies in the 3D bioprinting market include laser-assisted bioprinting, magnetic 3D bioprinting, inkjet 3D bioprinting, and microextrusion bioprinting. Microextrusion bioprinting is increasingly being used by researchers as an alternative to scaffold fabrication. Moreover, the technique offers high cell densities owing to the use of bioinks to mimic matrices is likely to propel its growth. Inkjet 3D bioprinting is also expected to command a significant market share owing to its compatibility with living cells.
By material, the market is segmented into extracellular matrices, living cells, hydrogels, and others. Living cells hold a significant market share owing to its manufacture using in-air microfluidics. Their application in repairing damaged tissues coupled with their compatibility with biomaterials to form damaged microstructures is likely to augur well for the segment. Hydrogels, on the other hand, are also in high demand in the 3D bioprinting market owing to their manufacture using synthetic or natural materials.
By application, the market is segmented into clinical and research applications. Clinical applications can command a high market demand thanks to organ transplantation. The shortage of organs can ample scope for the market to expand its horizons through this application, Research applications can contribute to the 3D bioprinting market revenue owing to the emerging field of regenerative medicine.
By end-user, the 3D bioprinting market is segmented into research organizations & academic institutes and pharmaceutical & biotechnology companies. Pharmaceutical & biotechnology companies are increasingly leaning towards the technology to cater to the demands of patients. Emergence of personalized medicine can offer scope for the end-user to generate revenue for the market. Research organizations & academic institutes are receiving grants to expedite the development of 3D bioprinting which can expand its purview in other sectors.
Regional Analysis
Geographic segmentation of the 3D bioprinting market is focused on the following regions - Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The Americas held the largest market share in 2017 owing to a noticeable rise in research and development (R&D) activities, development of healthcare infrastructure, large patient pool, and increased budget for healthcare in the U.S. and Canada.
The Europe held a substantial market share thanks to investment in 3D printing and their high demand in France, the U.K., and Germany. In addition, the application of the technology in the cosmetic industry coupled with the ban on animal testing are factors which can provide headroom for the 3D bioprinting market to thrive in the region.
The APAC region can experience the highest CAGR owing to the developing healthcare sector in China, collaborations among prominent companies to set up units, and increased funding for R&D. In addition, government initiatives
Competitive Landscape
Top players in the 3D bioprinting market include Organovo Holdings Inc. (U.S.), FUJIFILM Wako Automation Corporation (U.S.), Regenovo Biotechnology Co. Ltd. (China), REGENHU Ltd. (Switzerland), Allevi (U.S.), Cellink AB (Sweden), Cyfuse Biomedical K.K. (Japan), Nano3D Biosciences Inc. (U.S.), Stratasys Ltd. (U.S.), EnvisionTEC GmbH (Germany), Aspect Biosystems Ltd. (Canada), and Poietis (France).
1.1 Introduction
A large number of companies are working in the global 3D bioprinting market. Through extensive research, it is found that market players have adopted strategies of product launches, acquisitions, and collaborations. On the basis of the market study, we found some key players operating in this market which are Organovo Holdings Inc., Cellink AB, Stratasys Ltd, Envisiontec GMBH, Cyfuse Biomedical K.K., Aspect Biosystems Ltd, FUJIFILM Wako Automation Corporation, Nano3D Biosciences Inc., Allevi, Regenhu Ltd, Poietis, Regenovo Biotechnology Co. Ltd, and others.
Organovo Holdings Inc. is one of the leading players in the market with a strong customer base and diverse product portfolio. The company has a collaboration with major pharmaceutical companies and research institutes. Organovo is known as a trusted bioprinting products provider for drug discovery and regenerative medicine laboratories. Furthermore, the company is capturing emerging markets by launching new products.
1.2 Company Ranking
Many leading players are concentrated in the Americas and Europe owing to the strengthening healthcare system, well-established market, high healthcare expenditures, and numerous opportunities for growth. These players have expanded their market in other regions as well. Major players in the market are investing a huge amount of money in research and development activities and filing product patents. For instance, according to the 3D printing industry, 3D bioprinting industry is experiencing a surge in product patent filings, and 950 patents were filed by more than 100 companies by the end of 2016. Furthermore, companies such as Organovo Holdings Inc., Cellink AB, Stratasys Ltd, Envisiontec GMBH, Cyfuse Biomedical K.K., and Aspect Biosystems Ltd are top six market players in this market. Apart from this, FUJIFILM Wako Automation Corporation, Nano3D Biosciences Inc., Allevi, Regenhu Ltd, Poietis, and Regenovo Biotechnology Co. Ltd are some of the well-established players in the global 3D bioprinting market.
Organovo Holdings Inc. is a leading biotechnology company which provides 3D bioprinting functional tissues. The company focuses on manufacturing three-dimensional tissues, and these tissues are used in various research and development activities as well as in implant therapies. Moreover, the company depends on collaborations and strategic agreements with biopharmaceutical companies, research institutes, and healthcare providers to expand its business.