Market Overview:
3D bioprinting is a process of using living cells, biomaterials, growth factors and other biological factors in a controlled way to produce 3D functional living tissues or organs. It enables depositing multiple cell types and biomaterials achieving complex 3D geometry, structural heterogeneity and viability. The technology holds promise for building tissues and organs including skin, liver, heart, kidney and nerves as well as cancer and tumor models for research. Key advantages include ability to precisely mimic native tissue functions and structure. The customized living constructs can be used for developing pharmaceuticals, disease models and tissue implants. Rising demand for organ transplantation and limitations of traditional tissue engineering methods are fueling adoption of 3D bioprinting.
Market key trends:
Increasing R&D for tissue engineering clinical applications: Major companies are actively conducting research on bioprinting human tissues or organs suitable for transplantation. For instance, Organovo is developing bioprinted liver tissues for drug screening and development purposes.
Advancing bioink formulations: Researchers are focused on developing advanced hydrogel bioinks better mimicking native tissue stiffness, architecture and cell compatibility. Composites incorporating growth factors, ECM proteins and nanoparticles are gaining traction.
Partnerships for commercializing bioprinted products: Companies are partnering with academics and medical facilities to build capabilities and expedite commercial rollout. In 2021, Aspect Biosystems partnered with Wake Forest Institute for Regenerative Medicine for liver and kidney disease research.
The global 3d Bioprinting Market Size is estimated to be valued at US$ 1281.57 Mn in 2023 and is expected to exhibit a CAGR of 21.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the 3D bioprinting market is moderate. High capital requirement and the presence of major companies with strong brand and diverse product portfolio act as a barrier for new entrants.
Bargaining power of buyers: The bargaining power of buyers in the 3D bioprinting market is low. The availability of various product options at different price points and qualities provides less influence over pricing to buyers.
Bargaining power of suppliers: The bargaining power of suppliers in the 3D bioprinting market is moderate. Suppliers of bioinks and biomaterials possess technical knowledge and skills which makes them an important link in the value chain.
Threat of new substitutes: The threat of substitutes is low in the 3D bioprinting market as there are limited product alternatives that can offer the similar functionality of precision and complex structures for tissue engineering applications.
Competitive rivalry: The competitive rivalry in the 3D bioprinting market is high due to the presence of major global players competing on the basis of technology, price, and quality.
Key Takeaways
The global 3d bioprinting market is expected to witness high growth, exhibiting CAGR of 21% over the forecast period, due to increasing applications in regenerative medicine, drug testing, and transplantation biology.
Regional analysis: North America dominates the 3d bioprinting market currently owing to increasing R&D investment, technological advancements, and presence of major players in the region. Asia Pacific is anticipated to grow at the fastest pace during the forecast period supported by rising healthcare expenditure, expanding biotechnology sector and growing medical tourism in countries like China and India.
Key players: Major companies involved in the global 3D printing market are 3D Systems Corporation, Cyfuse Biomedical KK, GeSIM GmbH, 3D Bioprinting Solutions, Aspect Biosystems Ltd., Organovo Holdings Inc., ARCAM AB (GE Company), Cellink AB, RegenHU SA, REGEMAT 3D, and Stratasys Ltd . These players are focusing on new product launches, partnerships, acquisitions and geographical expansion to strengthen their market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it