CHICAGO, July 21, 2022 /PRNewswire/ — 3D Bioprinting Market is projected to USD 3.3 billion by 2027 from USD 1.3 billion in 2022, at a CAGR of 20.8% between 2022 and 2027, according to a new report by MarketsandMarkets™. Factors such as technological advancements in 3D bioprinters and biomaterials, increasing use of 3D bioprinting in the pharmaceutical and cosmetology industries, and rising public and private funding to support bioprinting research activities are driving the market growth of 3D Bioprinting Industry. However, factors like dearth of skilled professionals and high development and production costs are restraining the growth of this market.
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The 3D Bioprinters segment accounted for the largest share in the 3D Bioprinting market, by component, during the forecast period.
Based on component, the market is segmented into 3D bioprinters and bioinks. 3D bioprinters accounted for the larger market share in 2021. Technological advancements and the growing demand for organ transplants are the major factors driving the growth of this segment.
The Research applications subsegment accounted for the largest share of the application segment in the 3D Bioprinting market in 2021.
Based on application, the market is segmented into research applications and clinical applications. The research applications segment accounted for the larger share of the 3D bioprinting market in 2021. 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 in 2021, due to the growing adoption of 3D bioprinting technology by biopharmaceutical companies.
The Research Organizations and Academic Institutes subsegment accounted for the largest share of the application segment in the 3D bioprinting market in 2021.
On the basis of end users, the market is segmented into research organizations and academic institutes, biopharmaceutical companies, and hospitals. Research organizations and academic institutes form the largest and fastest-growing end-user segment in this market. This can be attributed to the increasing collaborations between academic & research institutes and key market players for developing novel 3D-bioprinted products.
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North America is the largest region and Asia Pacific is the fastest-growing region of the 3D Bioprinting market in 2021.
Based on region, the 3D bioprinting market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2021, North America dominated the market, followed by Europe. The significant government and private investments to develop advanced 3D bioprinting technologies, the high adoption rate of these technologies, and the presence of key market players in the region are responsible for the large share of North America in the bioprinting market. The Asia Pacific market is projected to grow at the highest CAGR during the forecast period.
Key players in the global 3D Bioprinting Market include BICO Group AB (US), Organovo Holdings Inc. (US), Allevi, Inc. (part of 3D Systems, Inc.) (US), CollPlant Biotechnologies Ltd. (Israel), regenHU (Switzerland), EnvisionTEC GmbH (part of Desktop Metal, Inc.) (Germany), Aspect Biosystems Ltd. (Canada), Advanced Solutions Life Sciences, LLC (US), and Regenovo Biotechnology Co., Ltd. (part of Shining 3D Tech Co., Ltd.) (China).
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