3D Bioprinting in Medical Market to Reach $4.9 Billion, Globally, by 2032 at 15.5% CAGR: Allied Market Research

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Jan 22, 2024, 00:29 ET

Rise in prevalence of chronic diseases, surge in usage of 3D bioprinting in biomedical applications, and advancements in 3D bioprinting drive the growth of the global 3D bioprinting in medical market

PORTLAND, Ore., Jan. 22, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "3D bioprinting in Medical Market by Products and Solutions (Bioprinters, Consumables & Accessories, and Software & Services), Technology (Extrusion Based Bioprinting, Inkjet Based Bioprinting, Laser Assisted Bioprinting, and Others), Application (Tissue Engineering & Regenerative Medicine, Drug Discovery & Development, and Others), and End User (Biotechnology & Pharmaceutical Companies, Academic & Research Institutes, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global 3D bioprinting in medical industry generated $1.1 billion in 2022, and is anticipated to generate $4.9 billion by 2032, witnessing a CAGR of 15.5% from 2023 to 2032. 

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Prime determinants of growth

Rise in prevalence of chronic diseases, surge in usage of 3D bioprinting in biomedical applications, and advancements in 3D bioprinting drive the growth of the global 3D bioprinting in medical market. However, the high cost associated with 3D printing and dearth of skilled professionals restricts the market growth. Moreover, growth opportunities in emerging markets and rise in pharmaceutical applications present new opportunities in the coming years.

Report coverage & details:

Report Coverage	Details
Forecast Period	2023–2032
Base Year	2022
Market Size In 2022	$1.1 Billion
Market Size In 2032	$4.9 Billion
CAGR	15.5 %
No. of Pages in Report	316
Segments Covered	Products & Solutions, Technology, Application, End User, and Region
Drivers	Rise In Prevalence of Chronic Diseases Surge In Usage of 3D Bioprinting in Biomedical Applications Advancements In 3D Bioprinting
Opportunities	Growth Opportunities in Emerging Markets Rise In Pharmaceutical Applications
Restraints	High Cost Associated With 3D Printing Dearth Of Skilled Professionals

What is the Impact of Recession 2023 on 3D Bioprinting in Medical Market?

During recession, individuals and governments might tighten their budgets, leading to reduced healthcare spending. This could affect patients' ability to access and afford 3D bioprinting in medical, potentially leading to decreased demand for 3D bioprinting products. In addition, economic downturns often lead to reduced healthcare budgets, impacting the purchasing power of healthcare facilities. This results in delayed or scaled-down investments in expensive 3D bioprinting in medical technologies.
However, surge in prevalence of chronic diseases, rise in technological advancements and increase in awareness about early diagnosis and treatment boost the need for specific types of 3D bioprinting in medical sector.

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The consumables and accessories segment to maintain its leadership status throughout the forecast period

Based on products and solutions, the consumables and accessories segment held the largest market share in 2022, accounting for less than half of the global 3D bioprinting in medical market revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the surge in adoption of consumables & accessories for 3D bioprinting, advancements in 3D bioprinting materials, collaborative research efforts and rise in utilization of 3D bioprinting technology.

However, the bioprinters segment is expected to register the highest CAGR of 16.1% during the forecast period. This is attributed to the increase in demand for 3D bioprinting across research, healthcare, and pharmaceutical industries propelled the demand for advanced bioprinter instruments.

The inkjet based bioprinting segment to maintain its leadership status throughout the forecast period

Based on technology, the inkjet based bioprinting segment held the largest market share in 2022, accounting for more than one-third of the global 3D bioprinting in medical market revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to increase in adoption of inkjet based bioprinting, high speed of inkjet-based bioprinting, and precise & controlled method for depositing bioink.

The tissue engineering and regenerative medicine segment to maintain its leadership status throughout the forecast period

Based on application, the tissue engineering and regenerative medicine segment held the largest market share in 2022, accounting for more than half of the global 3D bioprinting in medical market revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to revolutionary potential of 3D bioprinting in creating functional tissues and organs for transplantation, and ongoing advancements in this field position tissue engineering.

The academic and research institutes segment to maintain its lead position during the forecast period

Based on end user, the academic and research institutes segment accounted for the largest share in 2022, contributing to more than two-thirds of the global 3D bioprinting in medical market revenue, and is projected to maintain its lead position during the forecast period. This is attributed to the ongoing research initiatives and collaborations that contribute to the continuous evolution of 3D bioprinting in the medical field.

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North America to maintain its dominance by 2032

Based on region, North America held the largest market share in terms of revenue in 2022, accounting for less than half of the global 3D bioprinting in medical market revenue and is likely to dominate the market during the forecast period. This is attributed to its well-developed healthcare infrastructure, early adoption of innovative technologies, proactive healthcare policies, and a comprehensive approach to public health awareness.

However, the Asia-Pacific region is expected to witness the fastest CAGR of 16.5% from 2023 to 2032. Rise in demand for 3D bioprinting, significant investments in R&D in the medical sector and rise in technological advancements are the factors expected to drive the growth of the 3D bioprinting in medical market.

Leading Market Players:

Advanced Solutions, Inc.
CollPlant Biotechnologies Ltd
Shining 3D
Organovo Holdings, Inc.
Medprin
Cyfuse Biomedical K.K.
Desktop Metal, Inc.
Regemat 3D
3D Systems Corporation
BICO

Comprehensive Healthcare Industry Research Studies:

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Biomaterials Market - Global Opportunity Analysis and Industry Forecast, 2022–2032

Flow Cytometry Market- Global Opportunity Analysis and Industry Forecast, 2022–2032

Healthcare IT Market - Global Opportunity Analysis and Industry Forecast, 2022–2032

MRI System Market- Global Opportunity Analysis and Industry Forecast, 2022–2032

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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