The 3D bioprinting market is estimated to be valued at USD 2.53 Billion in 2024, growing at a CAGR of 16.2% over the forecast period (2024-2031). Growing investments in R&D activities for the development of advanced 3D bioprinting technologies and the increasing number of new product launches are fueling the market growth. Furthermore, 3D bioprinting offers advantages like reduced manufacturing costs and increased productivity, which is attracting more investment in this technology.
Market Dynamics:
Rising healthcare expenditure and growing focus on the development of regenerative medicines are expected to drive the growth of the 3D bioprinting market during the forecast period. There has been significant increase in healthcare spending globally which is enabling wider acceptance of advanced medical technologies like 3D bioprinting. The global healthcare expenditure is projected to reach USD 10 trillion by 2022. Additionally, 3D bioprinting technology allows the printing of biocompatible materials like tissues and organs which can help regenerate or replace damaged body parts. This is attracting huge investments in research and development of 3D bioprinted organs. For example, in 2019, 3D Bioprinting Solutions received around USD 7.5 million funding
Market Drivers:
The growing demand for organ transplants is driving the 3D bioprinting market
The major driver for the 3D bioprinting market is the growing demand for organ transplants. As per the World Health Organization (WHO), over 130,000 organ transplants are needed globally every year but only around 10% are performed due to a shortage of donor organs. 3D bioprinting offers a promising alternative for producing living tissues and organs using a patient's own cells. It aims to address the widening gap between available organs and patients on waiting lists. With advancements in 3D bioprinting technology like increased resolution and capability to print multiple cell types, the ability to print patient-specific organ models and functional human tissues and organs is moving closer to reality. This is expected to significantly reduce the dependency on organ donations in future and meet the rising patient need, thereby driving demand for 3D bioprinting solutions globally.
Growing funding and investment is fueling research and development in 3D bioprinting
Another major driver for the 3D bioprinting market growth is the rise in funding from government as well as private sectors in support of R&D activities. Numerous government institutes and research bodies across countries like the U.S., U.K., China, and others are investing heavily in 3D bioprinting research projects which aim to develop medical applications. Similarly, private equity funding and venture capital investments in bioprinting startups have increased manifold in the recent years. Large medical device manufacturing companies are also actively involved in acquisitions and collaborations to strengthen their position in this emerging field. The increased funding availability is enabling researchers to develop advanced bioprinting techniques and resolve technical challenges like achieving high resolution, printing multiple cell types, and controlling cell viability. This is fueling innovation and driving the development of new commercial applications.
Market Restraints:
High costs of 3D bioprinting equipment limits adoption
One of the major restraints for the 3D bioprinting market is the high cost associated with the acquisition and maintenance of bioprinting equipment. Bioprinters capable of printing complex tissues are highly technical and manufactured with precision instrumentation, making them expensive. The prices for commercial 3D bioprinters typically range from US$100,000 to over US$1 million depending on the specifications and capabilities. The consumables required like bio-inks, reagents, and maintenance also add to the overall costs. This makes 3D bioprinting solutions unaffordable for small research laboratories and educational institutes. Additionally, the costs cannot be easily passed on to customers in case of final products like bioprinted organs, restricting scale-up. The high equipment and operational costs pose challenges for widespread adoption of 3D bioprinting especially in developing economies.
Regulatory hurdles and compliance issues restrain the 3D bioprinting market
Another major restraint for the market growth is the lack of well-defined regulatory guidelines for approval and commercialization of 3D bioprinted products and tissues. Since bioprinting involves the use of living cells, it poses serious ethical issues and safety risks if not properly regulated. The regulatory pathways for 3D bioprinted medical products need to consider factors like the types and sources of cells used, the bio-inks and materials employed, sterilization, and safety validation requirements among others. The manufacturers and researchers face uncertainty regarding compliance procedures. Approvals are difficult to obtain due to complex rules. Also, the legal status of bioprinted tissues after printing needs to be defined clearly. The ambiguous regulatory environment acts as a roadblock and deters investments in this space currently.
Market opportunities:
Growing tissue engineering applications present opportunities for 3D bioprinting
One of the key opportunities for 3D bioprinting market lies in the increasing applications of tissue engineering techniques in regenerative medicine. Conditions like damaged skin or bone tissues due to burns, accidents or wounds can potentially be treated using lab-grown tissues. 3D bioprinting is well-suited for this as it enables on-demand printing of patient-specific grafts using their own healthy cells. This provides an alternative to traditional tissue replacement methods like skin grafts. The global tissue-engineered products market itself is expected to reach $16.8 billion by 2025. 3D bioprinting can help address multiple types of tissue defects in future with improved outcomes compared to only drug therapies available currently.
Personalized medicine expands opportunities for on-demand 3D bioprinting
The introduction of innovative products like Stratasys' F3300 FDM 3D printing technology, Cellink's Bio X3 bioprinter, and 3D Systems' subsidiary, Systemic Bio, underscores the industry's commitment to pushing the boundaries of 3D bioprinting. These technologies not only enhance precision and speed but also open up avenues for the creation of custom implants and tissues, catering to the unique requirements of patients.
Moreover, collaborations between institutions like the Indian Institute of Science (IISc) and companies such as CELLINK, as well as partnerships like REGEMAT 3D and Humabiologics, demonstrate a concerted effort to advance 3D bioprinting capabilities. This collaborative approach positions the technology as a crucial tool in the field of regenerative medicine, addressing the demand for human-derived biomaterials and personalized biofabrication solutions. The market opportunity is further emphasized by the robust growth of the healthcare sector in India, with the government's plans to increase public health spending. The establishment of dedicated centers like the Center of Excellence (CoE) at IISc for 3D bioprinting technology underscores the potential for widespread adoption and application of 3D bioprinting solutions in research, pharmaceuticals, and healthcare services.
Link- https://www.coherentmarketinsights.com/market-insight/3d-bioprinting-market-5166
Key Developments
- In November 2023, Stratasys (Israel) which is a manufacturer of 3D printers, introduced F3300 Fused Deposition Modelling (FDM) 3D printing technology, offering a more cost-effective solution compared to existing Stratasys FDM solutions. F3300 features faster extrusion, autocalibration, and gantry speeds.
- In September 2022, 3D Systems which is 3D printers, print materials producers, announced the establishment of Systemic Bio, a new 3D bioprinting subsidiary, focusing on accelerating drug discovery and development. Leveraging 3D Systems' breakthroughs in the bioprinting of vascularized human organs and tissues, Systemic Bio aims to reduce costs, expedite drug development, and minimize or eliminate animal testing. The company anticipates creating a biotech revenue stream approaching USD 100 million annually over the next five years.
Key Market Players
3D Bioprinting Solutions, Advanced Solutions Life Sciences, LLC, Allevi Inc., Aspect Biosystems Ltd., Bico group ab, Bio3D Technologies Pte. Ltd., Cellink Global, Collplant Biotechnologies Ltd., Cyfuse Biomedical K.K., Electro Optical Systems, Envisiontec GmbH, Foldink Life Science Technologies, Formlabs, Inc., GE Healthcare, Inventia Life Science PTY LTD, Nano 3D Biosciences, Inc., Optomec Inc., Organovo Holdings, Inc., Pandorum Technologies pvt. ltd., Precise Bio, Regemat 3D S.L., Regenovo Biotechnology Co. Ltd., Renishaw plc., Revotek co., ltd., Rokit Healthcare, inc., Stratasys Ltd.Vivax Bio, LLC, and Vivax Bio, LLC are the major players.
