3D Bioprinting Industry worth $2.4 billion by 2029, with a CAGR of 12.7%

 Key entities in the global 3D bioprinting market include major players like BICO Group AB, 3D Systems Inc., and Merck KGaA. 3D bioprinting market forecasted to transform from $1.3 billion in 2024 to $2.4 billion by 2029, driven by a CAGR of 12.7%. This growth is driven by advancements in 3D bioprinting technology, increased public-private partnerships, and its integration into pharmaceutical and cosmetic industries. Key market drivers include the adoption of 3D bioprinting for precise tissue and organ fabrication, facilitating drug testing and personalized medicine. However, high costs of bioprinters and bioinks pose challenges. Opportunities arise from the rising demand for organ transplants, while biocompatibility issues and stringent sterilization protocols present challenges. North America leads the market, with significant contributions from Europe and Asia-Pacific.

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The 3D Bioprinters segment is expected to have the dominant share of the 3D bioprinting market in 2023.

Based on component, the global 3D bioprinting market is segmented into 3D bioprinters, bioinks, software and consumables. 3D bioprinters accounted for the larger market share in 2023. The segment is witnessing growth driven by technological innovations and escalating demand for organ transplantation services.

The Research applications segment is expected to account for the largest share of the application segment in the 3D bioprinting market in 2023.

Based on application, the 3D bioprinting market is segmented into research applications and clinical applications. research applications segment accounted for the larger share of the 3D bioprinting market in 2023. The market for research applications is further segmented into drug research, regenerative medicine, and 3D cell culture. Among these, the drug research segment accounted for the largest share of the market during forecast period of 2024-2029, due to the pharmaceutical & biotechnology firms intensifying their integration of 3D bioprinting technology.

North America was the largest regional market for 3D bioprinting industry for both (excluding & including COVID -19 3D bioprinting) in 2023.

The market is segmented into five major regions namely, North America, Europe, the Asia Pacific, Latin America, Middle East and Africa. In 2023, North America accounted for the largest share of the 3D bioprinting market and expected to retain dominance throughout the forecast period of 2024-2029. Favorable regulatory policies, reimbursement scenario, presence of key market players in the region are some of the major factors uplifting the market growth in the North America. Europe is likely to grow at significant CAGR owing to various factors such as advancements in bioprinting research and development, increasing healthcare expenditure and government initiatives aimed at expanding 3D bioprinting.

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The 3D bioprinting market is fragmented, with a large number of players competing for market share.

BICO Group AB (US), 3D Systems, Inc. (US), Merck KGaA (Germany), Organovo Holings Inc (US), CollPlant Biotechnologies Ltd. (Israel), regenHU (Switzerland), Aspect Biosystem Ltd. (Canada), Advanced Solutions Life Sciences, LLC (US), Cyfuse Biomedical K.K (Japan), Rokit Healthcare Inc. (South Korea), Hangzhou Genofei Biotechnology Co., Ltd. (China), Foldink (Armenia), Brinter (US) and 3D bioprinting solution (Russia) and REGEMAT 3D, SL (Spain) are some of the leading players in this market. Most companies in the market focus on organic and inorganic growth strategies, such as product launches, expansions, acquisitions, partnerships, agreements, and collaborations, to increase their product offerings, cater to the unmet needs of customers, increase their profitability, and expand their presence in the global market.

Recent Developments of 3D Bioprinting Industry:

·         In February 2024, BICO Group AB (Cellink) launched DNA Studio 4 Vault, a bioprinting software, providing users with confidence and trust in their documentation, enabling a faster translation from the research lab to the clinic

·         In February 2024, Merck KGaA (Germany) established a distribution center in Brazil with an investment of USD 21.7 million to better serve its Life Science customers for faster deliveries in the region.

·         In April 2023, Aspect Biosystem Ltd (Canada) and Novo Nordisk (Denmark) entered into a collaboration, development, and Licence agreement to develop bioprinted tissue therapeutics designed to replace, repair, or supplement biological functions inside the body to deliver a new class of truly disease-modifying treatments for diabetes and obesity.

·         In April 2023, CollPlant Biotechnologies Ltd (Israel) and Stratasys (US) entered into a collaboration for the development of collaborated to develop a solution to bio-fabricate human tissues and organs using Stratasys’ P3 technology-based bioprinter and CollPlant’s rh-Collagen-based bioinks

The report provides insights on the following pointers:

·         Analysis of key drivers (growing adoption of 3D bioprinting technology in the pharmaceutical and cosmetic industries, technological advancement in the 3D bioprinting , increasing number of public-private partnerships, rising investments in R&D and medical devices), opportunities (Rising demand for organ transplants and growing demand for regenerative medicine and stem cell research) and challenges (biocompatibility issues and rigorous sterilization protocols and ethical concerns related to the use of 3D bioprinted products) are influencing the growth of 3D bioprinting market.

·         Product Development/Innovation: Detailed insights on newly launched products of the 3D bioprinting market.

·         Market Development: Comprehensive information about lucrative markets – the report analyses the 3D bioprinting market across varied regions.

·         Market Diversification: Exhaustive information about new services, untapped geographies, recent developments, and investments in the 3D bioprinting market.

·         Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players include BICO Group AB (Sweden), 3D Systems Inc. (US), Merck KGaA (Germany), Organovo Holdings Inc (US), Collplant Biotechnologies Ltd (Israel), regenHU (Switzerland), Aspect Biosystem (Canada), Advanced Solutions Life Sciences, llc (US), Cyfuse Biomedical K.K (Japan), Rokit Healthcare (South Korea), Hangzhou Genofei Biotechnology Co., Ltd. (China), Foldink (Armenia), Brinter (US) and 3D bioprinting solution (Russia).

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