The 3D bioprinting market is on the rise. 3D bioprinting is a revolutionary technology that uses 3D printing technology to create tissue and organs for medical use. It has the potential to revolutionize the medical field and is expected to be a multi-billion dollar industry by 2027.
3D bioprinting has many potential applications, from creating tissue for medical research to printing organs for transplantation. It has been used to create skin, bone, cartilage, and even entire organs such as lungs and hearts. This technology is also being used to create 3D-printed drugs, allowing for personalized medicine.
The Global 3D Bioprinting Market is projected to reach USD 3.3 billion by 2027 from USD 1.3 billion in 2022, at a CAGR of 20.8% during the forecast period. The technological advancements in 3D bioprinters & biomaterials, increasing use of 3D bioprinting in the pharmaceutical and cosmetology industries, and rising public and private funding to support bioprinting research activities are mainly driving the growth in this market. However, shortage of skilled professionals and high development and production costs are restraining the growth of this market.
The 3D bioprinting market is growing rapidly as more and more organizations and institutions are investing in the technology. Governments around the world are also providing investment and support for 3D bioprinting. Companies such as Organovo, Allevi, Inc., and CollPlant Biotechnologies Ltd. are leading the way in 3D bioprinting research and development.
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Growth Drivers: Increasing use of 3D bioprinting in pharmaceutical and cosmetology industries
Several pharmaceutical companies are increasingly adopting 3D bioprinting products and technologies in the drug discovery and development process. The 3D bioprinting method enables pharmaceutical companies to test drugs more safely and at a lower cost as compared to the traditional drug testing method. The traditional drug discovery process takes around three-to-six years to complete, while the 3D bioprinting process enables pharmaceutical companies to test a drug within a few hours. The use of 3D bioprinted tissues also enables R&D teams to test new drugs in the early stages and during preclinical trials. Advantages offered by 3D bioprinting include reduced use of animals for dug testing, enhanced productivity and shortened drug discovery process.
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OPPORTUNITIES: Rising demand for organ transplants
3D printing is gaining increasing importance in the healthcare industry due to the potential for developing complex solid organs like the heart, kidneys, and lungs for transplantation. As opposed to the conventional replacement of failing or damaged organs-which carries a risk of rejection by the host body-3D-printed organs are unlikely to pose any hazards, as they make use of cells taken from the patient’s body.
The global 3D bioprinting market is highly fragmented, with many players operating in the market. The top two players in the market-BICO Group AB (US) and 3D Systems, Inc. (US) (Allevi Inc.)-accounted for a share of ~10-15%. There are many small, medium, and emerging companies in this market, accounting for around 85-90% of the market. Therefore, the intensity of competitive rivalry in the 3D bioprinting market is low.
Recent Developments:
- In March 2022, BICO Group AB (US) launched the BIO CELLX, which is a novel system that automates 3D cell cultureworkflows by leveraging prevalidated protocols.
- In June 2021, 3D Systems, Inc. (US) and CollPlant Biotechnologies Ltd. (Israel) signed a co-development agreement for a 3D-bioprinted regenerative soft tissue matrix for use in breast reconstruction procedures in combination with an implant.
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