Global 3D Bioprinting Market Overview
The key driver impacting the 3D bioprinting market is the rapidly aging population with a high prevalence of chronic diseases. For instance, As per the United Nations Organisations Report, in 2017, the population aged 60 years or above was 962 million in 2017 globally. It is over twice as enormous as in 1980 when there were only 382 million older persons globally. Rising prevalence of several chronic diseases such as cancer, diabetes, obesity, heart disease across the globe. National Center for Biotechnology Information (NCBI), shows that around one in three adults suffer from multiple chronic conditions (MCCs). By the WHO report, chronic disease comprises 60% of the global burden of disease by 2020. Globally, cancer is the second most leading cause of death and accounts for 9.6 million deaths in 2018. There were one in 6 deaths that occurred due to cancer. Moreover, rising technological advancement in the 3d bioprinting industry contributes to market growth.
According to Value Market Research, the global 3D bioprinting market size was valued at around USD 1,395 million in 2020 and is estimated to grow at a CAGR of about 15.8% during the forecast period 2021 to 2027.
The increasing use of 3d bioprinting in the pharmaceutical and cosmetology industries is estimated to augment 3D bioprinting demand in the forecast period. The mounting demand for organ transplantation procedures is likely to create more opportunities for 3D bioprinting. For instance, According to Global Observatory on Donation and Transplantation, around 146840 organs transplanted annually are recorded in 2018, which increased by 5.6% in 2017. In 2018, about 8 311 heart transplants were performed, 2 338 pancreatic transplants were performed, and 95 479 kidney transplants were performed from 36.2% from living donors. However, lack of skilled professionals may hamper the market growth in the long run. Also, high production and development costs are negatively impacting the market. The current industry trends, such as the ever-increasing demand for Organ Transplants and the high need for regenerative medicine & stem cell research, are expected to provide market players with new market opportunities.
The 3D bioprinting market is vast, with many local and global players. The 3D bioprinting market is extensive, with many local and international players. The key leaders follow different strategies to advance their market position, such as extending product portfolio, amalgamation, contracts, product upgrades, and acquisitions, to enlarge their market share across the globe. For instance, In 2019, Organovo merged with Murdoch Children's Research Institute (Australia) & Ton Rabelink at Leiden University (Netherlands) to expand and develop the utilization of 3D-bioprinted stem cells for treating end-stage renal disease. The significant players studied in the report are Envisiontec, Inc., Inventia Life Science PTY LTD, Organovo Holdings, Inc., Vivax Bio, LLC, 3D Bioprinting Solutions, Regemat 3D S.L., Poietis, AlleviCyfuse Biomedical K.K., and Cellink Global.
In this research report, the 3D bioprinting market is segmented by technology, applications, and region.
Analysis by Technology:
By technology, the report is segmented into magnetic levitation, inkjet-based, syringe-based, laser-based, and others. The Inkjet-based dominate the technology segment with a 37% share in 2020. It is due to its broad adoption of inkjet-based printing in the medical field as it enables he complex living organs or tissue printing on the culture substrates with the help of biomaterials as bio-inks. Moreover, the increasing demand and higher reliability, and growing research trends in inkjet printing as a bio-applicable technology, particularly in drug delivery systems and tissue engineering, contribute to inkjet-based segment growth in the forecast period.
Analysis by Application:
By applications, the report is categorized as medical, dental, biosensors, consumer/personal product testing, bioinks, food, and animal product. The medical segment dominates the technology segment with a 33% share in 2020. It is due to the extensive usage of medical pills to cure various chronic diseases. Also, millions of people are usual users of capsules, and medicinal tablets worldwide add growth to the medical segment. Moreover, the growing need for medicines and the cost-efficient application of bio-drugs using this technology drives demand for the medical applications segment in the forecast period.
Analysis by Region:
In the regional outlook of the global 3D bioprinting market, the North America region dominates globally with a 30% market share during the forecast period. It is due to the increasing incorporation of IT in the healthcare industry and growing government spending more on research and development, to develop a vaccine for severe diseases condition. Moreover, the increasing demand for 3D bioprinting as this technology has been explored for organ transplantation and drug testing contributes to its growth across North America.
Market Segmentation covered in the Report:
- Magnetic Levitation
- Medical (Tissue and Organ Generation, Medical Pills, Prosthetics and implants, Others)
- Consumer/Personal Product Testing
- Food and Animal Product
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.