Market Research Future Introduces the “Global 3D Bioprinting Market” Research Report. Reports Provides the classifications and industry Structure with Top Industry Players, Recent Trends and Industry Dynamics up to 2027.
The global 3D Bioprinting Market Share is projected to touch USD 1,923.02 million by 2027, asserts Market Research Future (MRFR). The market can showcase an impressive 24.59% CAGR from 2018 to 2027 (forecast period) to reach this value. It was previously valued at USD 517.97 million in 2017.
Increasing demand for organ transplantation is projected to drive market demand year-on-year till 2027. This is attributed to the paucity of organs available for transplants. In 2014, nearly 120,000 people were on the waiting list for organs. This opportunity can be capitalized by the 3D bioprinting market by manufacturing customized organs according to body size.
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Investments in 3D bioprinting via public and private means to widen its scope is likely to boost the market growth. For instance, Tekes, the Finnish Funding Agency for Innovation, awarded funds to the University of East Finland to develop a fully functioning 3D brain for research purposes. Moreover, cost-efficiency of 3D bioprinted products is likely to lead to renewed interest by investors.
Lack of awareness of the technology and shortage of skilled professionals can act as growth deterrents in the market.
Prominent names in the 3D Bioprinting Market are Nano3D Biosciences Inc. (U.S.), REGENHU Ltd. (Switzerland), FUJIFILM Wako Automation Corporation (U.S.), Allevi (U.S.), Organovo Holdings Inc. (U.S.), Regenovo Biotechnology Co. Ltd. (China), Aspect Biosystems Ltd. (Canada), Stratasys Ltd. (U.S.), Poietis (France), Cellink AB (Sweden), EnvisionTEC GmbH (Germany), and Cyfuse Biomedical K.K. (Japan).
The 3D bioprinting market is segmented by technology, material, application, and end-user.
By technology, microextrusion bioprinting held close to 31.7% share in 2017, followed by inkjet 3D bioprinting (25.1%), laser-assisted bioprinting (20.6%), magnetic 3D bioprinting (13.7%), and others (8.9%). The microextrusion bioprinting segment is projected to register a whopping 25.24% CAGR during the forecast period. This can be attributed to its extensive 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, living cells accounted for 39.7% share in 2017, followed by hydrogels (30.8%), extracellular matrices (21.0%), and others (8.5%). Living cells are predicted to exhibit 25.05% CAGR during the forecast period thanks to the expedited production process of micro building blocks. The blocks play a vital role in repairing damaged tissues. Hydrogels, on the other hand, can generate close to USD 652.54 million by 2027 at a CAGR of 26.63% during the forecast period.
Among applications, research applications accounted for 73% share in 2017, followed by clinical applications with 27% share in the same year. Research applications can exhibit 24.74% CAGR till 2027 owing to applications in 3D cell culture and regenerative medicine. Clinical applications, on the other hand, can generate close to USD 507.55 million by 2027, at a 24.19% CAGR during the assessment period.
Among end-users, pharmaceutical & biotechnology companies accounted for 52.6% share in 2017, followed by research organizations & academic institutes (33.3%), and others (14.1%). Pharmaceutical & biotechnology companies are projected to display 24.98% CAGR till 2027 owing to the trend in personalized medicines.
Region-wise, the 3D bioprinting market is segmented into Europe, Americas, Asia Pacific (APAC), and the Middle East & Africa (MEA). Americas held close to 38.1% market share in 2017, followed by Europe (31.8%), APAC (23.2%), and MEA (6.9%).
The Americas region is touted to touch a valuation of USD 689.91 million by 2027. This can be attributed to investments in research and development, presence of developed healthcare infrastructure, and massive demand for organs among the patient pool. Furthermore, development of 3D printed pills which can be customized according to person age and body weight is likely to open up growth opportunities for the 3D bioprinting market to expand in the region.
The APAC region can grow at a rapid pace owing to developments in the healthcare sector, development in 3D printing, and abundance of opportunities. The region can garner close to USD 507.18 million by 2027 at a CAGR of 27.25% during the forecast period. In addition, government funding to accelerate the pace of 3D printing technology can bode well for the market.
The Europe 3D bioprinting market can touch a value of USD 649.91 million by 2027 owing to increased focus on health and wellness. Rise in cosmetic surgery demand is likely to play a huge role for the market’s progress in the region. Agreements between prime players to expedite the evolution of the technology can net novel results. This is exemplified by the deal signed between BASF SE and Poietis to improve skin care products by the former.
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