LONDON, Oct. 14, 2023 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the 3D bioprinting market, rising governments and private funding to support 3D bioprinting research activities are expected to drive the growth of the 3D bioprinting market in the forecast period. 3D bioprinting has increasing applications in healthcare, attracting funding from government and private organizations. This funding provides financial and technical assistance across different development phases of 3D bioprinting techniques.
For instance, in May 2023, Readily3d SA, a Switzerland-based bioprinting company, received funding of $600,000 from the European Union to develop a living miniature model of the pancreas using its Tomolite 3D bioprinting technique. The Australian Minister for Health funded Curtin University $737,690 in June 2020 to develop and optimize 3D technology for bioprinting skin tissue directly onto model wounds as a prelude to human skin restoration.
The 3D bioprinting market consists of sales of 3D bioprinting products by entities (organizations, sole traders, and partnerships) that are engaged in manufacturing and utilizing 3D printing to produce biomedical parts that imitate natural tissue characteristics. 3D bioprinting is a type of additive manufacturing that prints live structures layer by layer, mimicking the behavior of actual living systems, using cells and other biocompatible materials like inks, also known as bio-inks. 3D bioprinting materials are mainly used in connection with drug research and most recently as cell scaffolds to help repair damaged ligaments and joints.
The global 3D bioprinting market is expected to grow from $771.41 million in 2020 to $933.91 million in 2023 at a compound annual growth rate (CAGR) of 21.1%. The change in growth trend of the 3D bioprinting market is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The 3D bioprinting market is expected to reach $1,899.37 million in 2025 at a CAGR of 19.4%.
The Business Research Company’s report titled 3D Bioprinting Global Market Report 2023 – By Component (3D Bioprinters, Bioinks), By Material (Living Cells, Hydrogels, Extracellular Matrices), By Application (Research Applications, Clinical Application), By End User (Research Organization And Academic Institutes, Biopharmaceuticals Companies, Hospitals), COVID-19 Implications And Growth covers major 3D bioprinting companies, 3D bioprinting market share by company, 3D bioprinting manufacturers, 3D bioprinting market size, and 3D bioprinting market forecasts. The report also covers the global 3D bioprinting market and its segments.
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In January 2020, Aspect Biosystems, a Canada-based 3D bioprinting technology company received a $20 million funding in Series A financing round to advance its technology for 3D bioprinting human tissue which was led by venture capital firm Radical Ventures, Pangaea Ventures, Pallasite Ventures, and Rhino Ventures. Thus, this increase in availability of funding boosts the 3D bioprinting market.
Major players in the 3D bioprinting market are Organovo Holdings Inc., Allevi Inc., Cellink, Aspect Biosystems Ltd., 3D Systems Corporation, Cyfuse Biomedical KK, Envisiontec Inc., Poietis, TeVido BioDevices, Nano3D Biosciences Inc., Digilab Inc., RegenHU, GeSIM GmbH, Advanced Solutions Life Sciences LLC, Regenovo Biotechnology Co. Ltd., Regemat 3D S.L., Bio3D Technologies, Stratasys Ltd, ROKIT Healthcare, Inventia Life Science PTY LTD, Vivax Bio LLC, GE Healthcare, and 3D Biotek.
North America was the largest region in the 3D bioprinting market in 2020. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the 3D bioprinting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of components in 3D bioprinting are 3D bioprinters and bio-inks. 3D bioprinters use three-dimensional technology in combination with biocompatible materials to replicate body parts. It is used for bioprinting of tissue, bone, organs, blood vessels tissue, and biomedical parts. The different types of materials include living cells, hydrogels, extracellular matrices, and others. 3D bioprinting is used in research applications, clinical applications, others and implemented in several verticals such as research organizations and academic institutes, biopharmaceuticals companies, hospitals, others.
3D Bioprinting Global Market Report 2023 – COVID-19 Implications And Growth is one of a series of new reports from The Business Research Company that provide 3D bioprinting market overviews, 3D bioprinting market analyze and forecast market size and growth for the whole market, 3D bioprinting market segments and geographies, 3D bioprinting market trends, 3D bioprinting market drivers, 3D bioprinting market restraints, 3D bioprinting market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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