3D Bioprinting Market Overview:
The growth of the 3D bioprinting market is mainly driven by the technological advancements in 3D bioprinters and biomaterials, increasing use of 3D bioprinting in the pharmaceutical and cosmetology industries, and rising public and private funding to support bioprinting research activities. These factors have prompted market players to improve and strengthen their current manufacturing and distribution capabilities, especially in emerging markets, which are expected to witness the highest growth.
The 3D bioprinting market is projected to reach USD 1,647.4 million by 2024 from USD 651.6 million in 2019, at a CAGR of 20.4% from 2019 to 2024.
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The research applications segment is projected to hold the largest share of the market by application during the forecast period of 2019 to 2024
By application, the 3D bioprinting market is classified into research applications and clinical applications. The market for research applications is further sub-segmented into drug research, regenerative medicine, and 3D cell culture. While, clinical applications segment is further divided into skin, bone & cartilage, blood vessels, and other clinical applications. Growth of the research applications segment is attributed to rising funding and grants for 3D bioprinting research and favorable government guidelines.
Hydrogel material segment to grow at fastest CAGR over the forecast period of 2019 to 20124 owing to the new product launches
Based on material, the 3D bioprinting market is broadly segmented into hydrogels, extracellular matrices, living cells, and other biomaterials. Among these, the hydrogel segment is anticipated to register significant growth over the forecast period due to the rncreasing R&D activities and new product launches in the segment. For instance, in 2019, Biogelx (UK) has launched hydrogel-based synthetic bioink in the market.
The 3D bioprinting market is projected to reach USD 1,647 million by 2024 from USD 651 million in 2019, at a CAGR of 20.4% from 2019 to 2024. The growth of this market is attributed to the growing research and development activities in the field of 3D bioprinting, the rising demand for organ transplantation across the globe, and increasing adoption of 3D bioprinting technology for drug discovery process. However, a lack of sufficient evidence for the efficacy of 3D bioprinting and the preference for alternative procedures are hindering the growth of the market.
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3D Bioprinting Market, By Component
Inkjet 3D Bioprinting
Magnetic 3D Bioprinting
Other technologies *
3D Bioprinting Market, By Application
3D Cell Culture
Bone & Cartilage
Other Clinical Applications **
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Organovo Holdings, Inc. (US), CELLINK (Sweden), Allevi Inc. (US), Aspect Biosystems Ltd. (Canada), EnvisionTEC GmbH (Germany), Cyfuse Biomedical K.K. (Japan), Poietis (France), TeVido BioDevices (US), Nano3D Biosciences, Inc. (US), ROKIT Healthcare (South Korea), Digilab, Inc. (US), regenHU (Switzerland), GeSiM (Germany), Advanced Solutions Life Sciences (US), and Regenovo Biotechnology Co., Ltd. (China).
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