Global 3D Bioprinting Market Is Estimated To Surpass US$ 1.2 Bn By 2021 & Market CAGR Of 13% During The Forecast Period 2020-2030
Academic institutes and hospitals use 3D printing technology to develop various models for training purposes. The technology is increasing used in bio printing where biomaterials such as growth factors and cells are combined with bioink to create tissue-like structures that imitate natural tissues. The global 3D bioprinting market is estimated to surpass US$ 1.2 Bn by 2021, at the market CAGR of 13% during the forecast period (2020-2030), as per a new report by Future Market Insights (FMI).
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3D bioprinting has immense potential to facilitate organ transplants and drug discovery. 3D printing can copy the actual macro and micro-environment of human organs and tissues which can solve the organ transplant crisis. Advancements in 3D printing technology and its promising applications in the healthcare industry are expected to increase the sale of 3D bioprinting over the forecast period.
As per the report, the technology will find increasing application in orthopedic implants manufacturing. The orthopedic implants segment is in fact forecast to account for over 30% of the market in terms of application.
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Key Takeaways from 3D bioprinting Marker Study
- Exhibiting a little below 13% Y-o-Y growth in 2021, 3D bioprinting market will exhibit solid growth
- The U.S. will register high demand, accounting for nearly 95% of sales in North America
- Demand in U.K. is expected to rise significantly, exhibiting above 11% Y-o-Y growth in 2021
- France and Germany too will register high demand
- In East Asia, China and Japan are expected to emerge as key market
“Launch of innovative 3D printers and application of 3D bioprinting in tissue engineering and regenerative medicine, medical device manufacturing will augment the growth of global 3D bioprinting market” says the FMI Analyst
Acquisitions, Partnerships and expansion are key Strategic Focus of 3D bioprinting Market Players
Leading players in the 3D bioprinting market on strengthening their market position though the Acquisition, Partnerships and expansion. For Instance,
- In January 2021, 3D Systems announced its regenerative and bioprinting solutions expansion by actively investing in the regenerative areas, in collaboration with United Therapeutics Corporation.
- In December 2019, GE Healthcare Life Sciences collaborated with Advanced Solutions Life Sciences (ASLS), a Kentucky-based biotechnology firm, to build an integrated 3D bioprinter by combining their digital advanced technologies.
- In January 2020, GE Healthcare Life Sciences introduced a new additive manufacturing (AM) facility in Umeå, Sweden that will be dedicated to integrating 3D-printed parts into the company’s production of bio manufacturing equipment. With $2 million in backing, the new center is expected to increase biopharma manufacturers’ access to state-of-the-art technologies
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Who is Winning?
The global market is set to expand its scope in the forecast period, due to rising prevalence of orthopedic disease globally and adoption of 3D bioprinting at various stages of development of orthopedic implants by medical manufacturers. In addition to this, cost effectiveness and increase adaption of 3D bioprinting in dental and regenerative medicine application has augmented the sales of 3D bioprinting.
The key market players covered by FMI include 3D Systems, Inc, GE Healthcare (Concept Laser, Arcam AB), EOS GmbH Electro Optical Systems, Renishaw plc, Stratasys Ltd, Ltd, EnvisionTEC, Formlabs, Inc And Organovo Holdings Inc, and Advanced Solutions Life Sciences, consolidating their positions through mergers, acquisitions and new product launches.