The Global 3D Bioprinting Market Size is valued at US$ 2 billion in 2023. The market is expected to advance at a CAGR of 12.6% during the forecast period. By 2033, the market is expected to be valued at US$ 6.5 billion.
Surging geriatric population is expected to be the key market driver. Based on the analysis done by FMI, the number of operations involving amputations is mainly carried out for the geriatric population. This is owing to an increasing number of cases pertaining to cardiovascular diseases.
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Furthermore, the 3D Bioprinting technology was at huge demand when the entire world was under the clutches of covid-19 pandemic. The supply chain disruption led to a massive shortage of key devices. During those times, the 3D Bioprinting acted as a savior for the medical community. There were even reports which mentioned that these devices could kill the virus within half an hour.
Moreover, a lot of pharmaceutical companies are investing massive amounts for making use of the 3D Bioprinting technology. Lower cost and making minimal use of animals during the process has led to the stakeholders investing on this process. The test results are obtained within few hours, as compared to the conventional methods which take years.
Most importantly, the favorable government regulations, especially in the developed nations has led to a massive increase in the market share. Even the developing nations have started investing on this process. This coupled with the rising disposable income is expected to have a positive impact on the market during the forecast period.
Moreover, even the dermatologists have started making use of the 3D Bioprinting technology. This is because the technology has been instrumental in Bioprinting the skin tissue. These have also started finding application in regenerative healthcare.
However, the market is plagued by high cost. Apart from that, the shortage of skilled workforce, and constant process control is also expected to halt the market growth.
Thus, from the insights provided by FMI analysts, it can be inferred that “rising geriatric population, increasing demand for organ implants, increased adoption in the pharmaceutical companies, and a plenty of other factors are expected to surge the 3D Bioprinting market share.”
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3D Bioprinting Market Key Takeaways:
- The market is projected to grow at a CAGR of 12.6% during 2023 to 2033.
- In 2023, the market is valued at US$ 2 billion.
- By 2033, the market is anticipated to reach a valuation of US$ 6.5 billion.
- Based on the regional analysis, Asia Pacific is expected to hold the largest market share.
- USA 3D Bioprinting market is projected to advance at a CAGR of 13.9%.
- UK market is expected to rise at a CAGR of 8%.
- China market anticipated to grow at a CAGR of 13.1%.
- Japan market expected to surge at a CAGR of 12.1%.
- South Korea 3D Bioprinting market anticipated to grow at a CAGR of 13%.
- Based on application, the orthopedic implants segment is expected to hold the largest market share, and is projected to grow at a CAGR of 12.4%.
- As per end user, the medical device manufacturers segment is projected to hold the largest market share, and is anticipated to grow at a CAGR of 12%.
3D Bioprinting Market Competitive Landscape:
The key players are mainly focusing on mergers and acquisitions. The aim is to expand the market share, and cater new regions. The key players are also investing massive amounts over the R&D aspect of the business. Apart from that, the strategic partnerships are also a vital component of the plan. This would help the manufacturers make use of the technology which are not present with them.
In September 2022, 3D Systems expanded the industry-leading materials portfolio with introduction of new production-grade materials.
Major Players in the 3D Bioprinting Market:
- GE Healthcare
- ExOne
- Electro Optical Systems
- Renishaw plc
- Stratasys Ltd
- EnvisionTEC
- Cyfuse Biomedical K.K
- Formlabs, Inc
- Organovo Holdings Inc
- Allevi Inc
- Advanced Solutions Life Sciences, LLC
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3D Bioprinting Market Segmentation:
By Technology:
- Stereolithography,
- Selective Laser Sintering,
- Electron Beam Melting,
- Fused Deposition Modeling,
- Laminated Object Manufacturing,
- Inkjet Printing,
- Multi-phase Jet Solidification
By Application:
- Surgical Simulation and Training Models,
- Prosthetic Devices,
- Tissue Engineering and Regenerative Medicine,
- Orthopedic Implants,
- Dental Implants,
- Medical Sensors,
- Others
By End User:
- Medical Device Manufacturers,
- Pharmaceutical Companies,
- Research & Academic Institutions,
- Contract Research Organizations
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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