3D Bioprinting Market Is Estimated To Witness High Growth Owing To Growing Adoption In Research And Pre-Clinical Applications

Market Overview:
3D bioprinting is the use of 3D printing technology to print biological tissues and organs. It involves depositing a biomaterial or bio-ink layer-by-layer under computer control to generate biological constructs similar to native tissues such as skin, bone cartilage and others. 3D bioprinting offers several advantages over conventional tissue engineering techniques including control over internal architecture, vascular channels, cell distribution and mechanical properties of tissues.

Market key trends:
The growing adoption of 3D bioprinting in pre-clinical research owing to its excellent layer-by-layer deposition capabilities and ability to develop 3D biological tissues to resemble actual human tissues is a key trend fueling the growth of this market. 3D bioprinting enables developing human tissue models that mimic in-vivo environment for screening drug toxicity and efficacy prior to human clinical trials. It can significantly reduce the reliance on animal testing models. The rising research funding for developing advanced regenerative medicine therapies using 3D bioprinting is also contributing to the market growth. The technological advancements to develop 3D bioprinting systems incorporating multiple cell types, growth factors and biomaterials to replicate complex tissue structures with vascular channels is another trend driving opportunities in this market.

The global 3d Bioprinting Market Size is estimated to be valued at US$ 1281.57 Mn in 2023 and is expected to exhibit a CAGR of 21.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Porter’s Analysis

Threat of new entrants: Low capital requirement and technology availability has lowered the threat of new entrants. However, presence of few major players makes market supply concentrated.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of alternative products and technologies in the market. However, specialized nature of products gives advantage to companies.

Bargaining power of suppliers: Suppliers have moderate to high bargaining power due to suppliers being specialized and scarce for raw materials used for production.

Threat of new substitutes: Threat of substitution is low as 3d bioprinting offers significantly improved capabilities over traditional manufacturing techniques.

Competitive rivalry: Intense due to presence of major global players and high capital investment requirements.

SWOT Analysis

Strength: Highly specialized technology, growing stem cell research and tissue engineering sectors provide huge market opportunity.

Weakness: Limited availability of biomaterials, high operational costs involved, lack of standard process protocols.

Opportunity: Increasing healthcare expenditure, rising incidence of chronic diseases, growth in regenerative medicine industry.

Threats: Stringent regulations around use of human cells and tissues, long product development cycles.

Key Takeaways

The global 3d bioprinting market is expected to witness high growth, exhibiting CAGR of 21% over the forecast period, due to increasing application in tissue engineering and organ replacement. Regionally, North America dominated the market in 2023, however Asia Pacific is expected to witness highest CAGR over the forecast period due to presence of major emerging economies and technological advancement.

Key players operating in the 3d bioprinting market are 3D Systems Corporation, Cyfuse Biomedical KK, GeSIM GmbH, 3D Bioprinting Solutions, Aspect Biosystems Ltd., Organovo Holdings Inc., ARCAM AB (GE Company), Cellink AB, RegenHU SA, REGEMAT 3D, EnvisionTEC GmbH and Stratasys Ltd. 3D Systems Corporation dominated the market in 2023 with largest market share of over 15%, however Cellink AB and Organovo Holdings Inc are expected to witness highest growth during forecast period.

The global 3d bioprinting market size for 2023 is US$ 1281.57 Mn. Rising investments in stem cell research and tissue engineering by both private and public organizations are major factors contributing to market growth. Additionally, increasing collaborations between industry players and research institutes for development of advanced bioprinters and biomaterials is further expected to support market expansion over coming years.

Read More: https://www.ukwebwire.com/the-new-avanue-for-3d-bioprinting-market-growth-trends-and-forecast-analysis/