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3D Bioprinting Market Is Projected To Develop At A CAGR Of 15.8% By 2030, Due To Rising Cases Of COVID-19 And Increasing Prevalence Of Chronic Diseases | Grand View Research, Inc.

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3D Bioprinting Market Is Projected To Develop At A CAGR Of 15.8% By 2030, Due To Rising Cases Of COVID-19 And Increasing Prevalence Of Chronic Diseases | Grand View Research, Inc.

May 26
20:42 2022
3D Bioprinting Market Is Projected To Develop At A CAGR Of 15.8% By 2030, Due To Rising Cases Of COVID-19 And Increasing Prevalence Of Chronic Diseases | Grand View Research, Inc.
Grand View Research, Inc. – Market Research And Consulting.
According to a new report published by Grand View Research, the growth of this market is accredited to a limited number of organ donors, rising R&D investment, and technological advancement.

3D Bioprinting Industry Overview

The global 3D bioprinting market size was valued at USD 1.7 billion in 2021 and is expected to reach USD 5.3 billion by 2030, registering a CAGR of 15.8% from 2022 to 2030.

The growth of this market is attributed to a limited number of organ donors, and an increasingly aging population with chronic respiratory disease. Rising R&D investment, technological advancement, and increasing incidence of chronic diseases are other vitally impacting attributes likely to boost market growth during the forecast period. The 3D printing community has responded to the COVID-19 crisis, pledging to support the production of vital medical equipment for hospitals grappling with this pandemic.

Gather more insights about the market drivers, restrains and growth of the Global 3D Bioprinting market

The recent COVID-19 pandemic has taken hold over the globe, with even the healthcare systems being overburdened. Hence, as a reaction to the rising cases of coronavirus, various 3D Bioprinting communities are responding to the worldwide crises by offering their respective skills to ease the burden on the supply chain and governments. As the cases of COVID-19 are increasing day by day, there has been a shortage of materials for the medical professionals as well as for the general public. One of the biggest issues is the lack of availability of test kits for COVID-19. Hence, various 3D bioprinting companies are manufacturing 3D printers and related software on a large scale. For example, Formlabs company based in Massachusetts, U.S. reportedly manufactures 100,000 nasal swabs for COVID-19 testing each day. Due to the ever-increasing cases of COVID-19, the demand for 3D bioprinters is increasing and the global 3D bioprinting market is slated to showcase exponential growth.

U.S. 3D bioprinting market size, by technology, 2020 - 2030 (USD Million)

The coronavirus pandemic has also accelerated the development of drug and vaccine testing, as scientists are harnessing new technologies for safety testing in patients after preclinical trials are completed. With the ever-increasing cases of COVID-19, the medical world is also facing a shortage of respirators and ventilators. The 3D bioprinting technology is helping in manufacturing respirators and ventilators to overcome the shortage of these devices.

Recently CLECELL, a 3D bioprinting company, created a respiratory epithelium model using their proprietary 3D printer U-FAB, along with other bioprinting technologies. Respiratory epithelium is a type of tissue that lines most of the respiratory tract. This epithelium acts as a barrier to pathogens and foreign particles. However, it also prevents infection and tissue injury with the help of the mucociliary elevator. Hence, with increasing incidences of demand for this respiratory epithelium model, the market for 3D bioprinting is anticipated to witness growth. Owing to such innovations, the market is expected to witness higher growth during the forecast period.

Many biotherapeutic companies are using 3D bioprinting technology in order to accelerate COVID-19 research. For example, Viscient Biosciences used 3D bioprinting technology to create lung tissue which supports viral infectivity research and helps in searching for effective therapy against SARS-CoV-2, the novel coronavirus which causes COVID-19. The Wyss Institute at Harvard University has designed a fully injection-molded nasopharyngeal swab in collaboration with healthcare, industrial partners, and other research institutes.

3D bioprinting is witnessing demand on a large scale with the increasing spread of the COVID-19 infection. Hence, many pharmaceutical and biopharmaceutical participants are coming forward to help healthcare workers, physicians, and scientists in all possible ways. For example, Stratasys, which is one of the leading manufacturers of 3D printers in America, has manufactured face shields with the help of a 3D bioprinter. Until March 2020, they shipped 100,000 face shields in the U.S.

3D Bioprinting Market Segmentation

Based on the Technology Insights, the market is segmented into Magnetic Levitation, Inkjet-based, Syringe-based, Laser-based and Others.

  • The magnetic levitation segment is projected to expand with the fastest CAGR of 14.2% during the forecast period. The lucrative growth can be attributed to the cost-efficiency associated with the technology.
  • The inkjet-based segment accounted for the largest revenue share of 36.0% in 2021, as it enables the printing of complex living organs or tissues on the culture substrates with the help of biomaterials as bio-inks.

Based on the Application Insights, the market is segmented into Medical, Dental, Biosensors, Consumer/Personal Product Testing, Bioinks and Food and Animal Product

  • The medical segment dominated the market by application in 2021, with a share of 36.8%, and is anticipated to grow with a CAGR of 15.6% during the forecast period.
  • The tissue and organ generation sub-segment is expected to grow with the fastest CAGR of 15.6% in the market during the forecast period. 3D bioprinting is most widely used to regenerate medicine to address the need for organs and tissue regeneration suitable for transplantation.

Based on the Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

  • In Asia Pacific, the market accounted for a revenue share of 23.7% of the 3D bioprinting industry in 2021 and is expected to continue its dominance during the forecast period.
  • In North America, the market captured a revenue share of 31.6% in 2021 and is expected to lead throughout the forecast period. The increasing incorporation of IT in the healthcare industry is estimated to stimulate the growth of the market over the forecast period. 

Browse through Grand View Research’s Medical Devices Industry Related Reports

  • Biosensors MarketThe global biosensors market size was valued at USD 24.9 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.0% from 2022 to 2030. Biosensor demand is increasing due to a variety of medical applications, a growing diabetes population, a high need for tiny diagnostic devices, and quick technological improvements.
  • 3D Cell Culture MarketThe global 3D cell culture market size was valued at USD 1.5 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 10.7% during the forecast period. As 3D cultures can closely mimic a typical morphology and microarchitecture of organs, they are widely used in studies that require in vivo model systems to analyze the effects of a foreign drug over body tissues and organs.

Market Share Insights:

  • November 2019: CELLINK developed the most advanced 3D bioprinting device, Bio X6, as well as Lumen X, which produces vascular structures.
  • November 2019: BASF GmbH acquired Sculpteo, a 3D printing service provider. This acquisition is anticipated to help BASF to market and establish new industrial 3D printing materials more quickly.

Key Companies Profile:

Key companies are stressing research and development to develop technologically advanced applications to gain a competitive edge.

Some of the prominent players in the 3D bioprinting market include: 

  • EnvisionTEC, Inc.
  • Organovo Holdings, Inc.
  • Inventia Life Science PTY LTD
  • Poietis
  • Vivax Bio, LLC
  • Allevi
  • Cyfuse Biomedical K.K.
  • 3D Bioprinting Solutions
  • Cellink Global
  • Regemat 3D S.L.

Order a free sample PDF of the 3D Bioprinting Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

Web: https://www.grandviewresearch.com

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