3D Bioprinting Market Analysis 2022-2028- Advancements in technology
Rising prevalence of chronic diseases and increasing investments in development of advanced technologies are driving market revenue growth
The global 3D bioprinting market size is expected to reach USD 7.39 Billion in 2028 and register a revenue CAGR of 26.3% during the forecast period. 3D bioprinting market revenue growth is due to increasing global geriatric population, presence of various age-related chronic diseases, and lack of organ donors. There is a huge gap between demand and supply of organ transplants and emerging 3D bioprinting technologies can help to bridge this gap. 3D bioprinting is gaining traction from academic sector as well.
Rising prevalence of chronic diseases and increasing investments in development of advanced technologies are driving market revenue growth. 3D bioprinting is currently used to create simple tissue structures in laboratories but is expected to create complete organs for transplant in the coming years. Bioprinting has emerged as a promising technology for fabricating artificial organs and tissues, which revolutionizes diagnosis and treatment of various medical conditions. 3D bioprinting helps companies develop new and innovative regenerative medicines, drug therapies, tissue engineering and stem cell therapies which are attracting attention from pharmaceutical companies and healthcare professionals. Advancements in technology have made 3D bioprinting applicable in cancer therapeutics, skin tissue development, liver modeling, and bone and cartilage development.
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Advancements in Artificial Intelligence (AI) is also contributing to market growth as AI gives suggestion of best possible printing parameters required to produce biocompatible tissues which can fit these parameters by analyzing data and identifying patterns throughout bioprinting process. AI can predict outcomes of various application of 3D prints which reduce rate of failure in clinical trials. Artificial intelligence can also help to speed-up printing time, increase resolution and eliminate risk of contamination of cells. Complexities of bioprinting span across entire process chain, such as, pre-processing, processing, and post-processing. Integration of machine learning with 3D bioprinting can help with accounting for factors responsible for such complexities which is not possible with traditional mathematical models. Machine Learning (ML) tends to be more robust in real-world in terms of prediction.
Some Key Highlights From the Report
- In November 2021, CollPlant announced commercial launch of BioInk Platform with Collink.3D for use in 3D bioprinting of human tissues, scaffolds, and organs. The launch supports usage of 3D bioprinting application to advance drug discovery, new product development and tissue testing and drug screening.
- Inkjet bioprinting segment accounted for a significantly large revenue share in 2020 as it is a relatively mature technology and can integrate several nozzles to simultaneously print cells, biological materials, and growth factors together. The technology has high efficiency and speed which is beneficial to solve organ printing-related problems such as biological activity decline and longer production time. It is also suitable for manufacturing large parts.
- Food testing segment accounted for significantly large revenue share in 2020. The advantage of 3D bioprinting of food include cost reduction by usage of exact amount of ingredients, creating attractive lab-grown meat and replacing slow manual process including cake decoration. It also brings creativity and innovation to food industry. In July 2020, KFC introduced 3D bioprinting technology to make chicken nuggets. KFC is working with a Russian 3D bioprinting firm for lab-produced chicken nuggets.
- Pharmaceutical & biotechnology companies segment revenue is expected to expand at the fastest rate during the forecast period. Pharmaceutical & biotechnology companies are highly dependent on technology to meet the demands of patients, by development of personalized medicines and bio-drugs using 3D bioprinting technology.
- Market in North America accounted for largest revenue share in 2020. Rising integration of IT in healthcare industry at a rapid rate is driving growth of the market in the region. Governments of North American countries are spending heavily to develop latest technologies and therapies for effective treatment. Increasing number of ongoing clinical trials is also contributing to market revenue growth.
- Market in Europe accounted for a significantly revenue share in 2020. Large number of research activities in cosmetic surgery sector and increase in number of 3D bioprinting-related programs to create awareness about benefits of bioprinting are some of the key factors boosting revenue growth of the market in Europe.
- Companies profiled in the global market report includes Allevi, Inc., Regenovo Biotechnology Co., Ltd., Nano3D Biosciences, Inc., Poietis, Organovo Inc., Cellink AB, Stratasys Ltd., and Aspect Biosystems Ltd.
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Component Outlook (Revenue, USD Billion; 2018–2028)
- 3D Bioprinters
Material Type Outlook (Revenue, USD Billion; 2018–2028)
- Living Cells
- Extracellular Matrices
Technology Outlook (Revenue, USD Billion; 2018–2028)
- Microextrusion Bioprinting
- Inkjet Bioprinting
- Magnetic Levitation Bioprinting
- Laser-Assisted Bioprinting
- Other Technologies
Application Outlook (Revenue, USD Billion; 2018–2028)
- Drug Testing and Development
- Regenerative Medicine
- Food Testing
End-use Outlook (Revenue, USD Billion; 2018–2028)
- Pharmaceutical & Biotechnology Companies
- Research Organizations
- Academic Institutes
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Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- North America
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