New York, USA, May 03, 2023 (GLOBE NEWSWIRE) — 3D Bioprinting Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “3D Bioprinting Market Information By Technology, Material, Application, End User and Region – Forecast till 2030”, the market size was valued at USD 1.9 billion in 2022 and is projected to grow from USD 2.19 Billion in 2023 to USD 5.17 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 15.40% during the forecast period (2023 – 2030)
Market Scope:
With the aid of anatomically accurate 3D models of the tissue created by computer graphics, 3D bioprinting, an extended application of additive manufacturing, is now being investigated for tissue engineering and regenerative medicine. It involves the top-down approach of building the complex tissue in a layer-by-layer fashion, producing precise geometries due to the controlled nature of matter deposition.
3D Bioprinting Market Competitive Dynamics:
Large corporations are spending a lot of money on research and development to broaden their product lines, which will drive the 3D bioprinting market even further. Market participants are engaging in a variety of strategic initiatives to improve their worldwide presence along with significant developmental changes such new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other businesses. Competitors in the 3D bioprinting business must offer reasonably priced items if they want to develop and prosper in a setting where competition is severe and the market is expanding.
One of the most effective business strategies adopted by manufacturers in the global 3D Bioprinting industry to assist clients and expand the market sector is to produce locally to reduce operating costs. In recent years, 3D Bioprinting industry has provided medicine with some of the most significant benefits.
Key Companies in the 3D Bioprinting market includes
- Organovo Holdings, Inc. (US)
- ROKIT Healthcare (South Korea)
- Cyfuse Biomedical K.K. (Japan)
- CELLINK (Sweden)
- EnvisionTEC GmbH (Germany)
- Allevi Inc. (US)
- Aspect Biosystems Ltd. (Canada))
3D Bioprinting Market Trends:
Market Drivers
There is a huge market for essential body parts for transplantation on a global scale. Even worse, there is a substantial gap in the availability and demand for organs and tissues. Just a few organs, including the liver, pancreas, lungs, heart, and kidneys, are necessary for transplantation.
The need for bone, skin, blood vessel, heart valve, and cornea transplants is also quite high. Organ donation rates are stable despite a rising need for tissues and organs. A significant issue for healthcare organizations and providers is the growing number of patients on the transplant waiting list as a result of the lack of these components for transplantation. Thus, it is anticipated that the market for 3D bioprinting would grow as a result of the increase in demand for this respiratory epithelium. As a result, the situation has lately increased the CAGR of the worldwide 3D bioprinting market.
Several pharmaceutical companies are quickly adopting 3D bioprinting products and technology in the search for and development of novel medicines. The drug business can test drugs more inexpensively and safely thanks to 3D bioprinting than it could before compared to the traditional drug test procedure. People’s knowledge of 3D printing has expanded as its use has increased, especially in the cosmetics industry. In response, a number of businesses in the healthcare and cosmetics industries have used 3D bioprinting to develop cutting-edge 3D tissue models and methods for drug screening.
Market Restraints
The precision of the additive manufacturing process differs between machines as a result of unpredictable processing factors and various materials. A few monitoring methods are available to help producers rectify these alterations and meet their particular requirements. The lack of systems integration knowledge has made it difficult to develop complex and accurate mathematical models utilizing additive manufacturing. These limitations on preproduction, planning, and control systems typically result in expensive errors and unsuccessful manufacturing.
COVID-19 Analysis:
The coronavirus pandemic has also accelerated the testing of drugs and vaccines because scientists are using new technology for safety testing in humans after preclinical studies are concluded. Due to the increase of COVID-19 patients, the medical community is also facing a respirator and ventilator scarcity. The production of respirators and ventilators is made possible by 3D bioprinting technology, which addresses the scarcity of this equipment. The major market players believe that the global increase of COVID-19 cases would create new growth prospects. A COVID-19 vaccine is being developed by various 3D bioprinting industry participants to mitigate the effects of this outbreak.
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Related Links
- 3D Printed Medical Implants Market
- Digital 3D Printing Market
- 3D Printing Medical Devices Market
- 3D Bioprinting Market
- 3D Cell Culture Market
- Dental 3D Printing Market
- High-Resolution 3D X-Ray Microscopy Market
- Ambulatory Services Market
- Pharmaceutical Grade Lactose Market
- Depression Screening Market
- Wearable Sensors Market
- Lidocaine Market
- Biosensor Market
- Facial Injectable Market
- Onychomycosis Market
- Hearing Aids Market
Leave a Reply