BICO Group AB (US) and 3D Systems, Inc. (US) are the Top Players in the 3D Bioprinting Market
Northbrook, IL 60062 — (SBWIRE) — 03/02/2023 — The 3D bioprinting industry is set to revolutionize medical science and the way we treat diseases and illnesses in the near future. By using 3D bioprinting technology, scientists and researchers can create living tissue and organs on demand and in a precise manner, allowing for more precise and accurate treatments for various diseases. This technology also has the potential to revolutionize drug discovery and testing, as well as the development of personalized medicines. 3D bioprinting could also be used to create affordable prosthetics and implants for patients, as well as organ replacements for those in need of a transplant. As the technology advances, more applications are certain to become available, opening up a vast array of possibilities for the industry.
3D Bioprinting market in terms of revenue was estimated to be worth $1.3 billion in 2022 and is poised to reach $3.3 billion by 2027, growing at a CAGR of 9.6% from 2022 to 2027 according to a latest report published by MarketsandMarkets™. The technological advancements in 3D bioprinters & biomaterials, increasing use of 3D bioprinting in the pharmaceutical and cosmetology industries, and rising public and private funding to support bioprinting research activities are mainly driving the growth in this market. However, shortage of skilled professionals and high development and production costs are restraining the growth of this market.
Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=170201787
Prominent Players of 3D Bioprinting Market:
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), among others.
Notable 3D Bioprinting mergers and acquisitions for 2021 – 2022 include:
– Carbon and Stratasys: In January 2022, Carbon announced it is acquiring Stratasys, a global leader in 3D printing solutions, for $1.6 billion in cash and stock.
– HP and Bioprinting Technologies: In February 2022, HP announced it is acquiring Bioprinting Technologies, a leading provider of 3D bioprinting solutions, for $3.2 billion.
– Autodesk and 3D Systems: In April 2022, Autodesk announced it is acquiring 3D Systems, a leading provider of 3D bioprinting solutions, for $2.3 billion.
Growth Drivers of 3D Bioprinting Market from Macro to Micro:
– Increasing Need for Replacement Organs: According to the World Health Organization, around 115,000 people are on the waiting list for organ transplantation in the United States alone. 3D bioprinting offers a potential solution to this problem by creating viable replacement organs through printing and assembling living cells.
– Growing Government Support: Governments of various countries are increasing their investments in 3D bioprinting research and development, which is expected to drive the market growth in the coming years.
– Growing Demand from Pharmaceutical Industry: Pharmaceutical companies are increasingly using 3D bioprinting technology to accelerate drug discovery and development processes. This is expected to drive the market for 3D bioprinting in the near future.
– Technological Advances: The advancement in 3D bioprinting technology has enabled the printing of complex and intricate tissue structures with high precision, which is expected to drive the market growth in the coming years.
– Availability of Funding: The increasing availability of venture capital funds and government grants to support 3D bioprinting research and development is expected to drive the market growth in the coming years.
Request for FREE Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=170201787
Hypothetic Challenges of 3D Bioprinting Market in Near Future:
– Regulatory Challenges: Governments and regulatory bodies have yet to develop guidelines and regulations to govern the use of 3D bioprinting. Without proper regulations in place, the market could be hindered by potential safety and ethical issues associated with its use.
– Technical Challenges: 3D bioprinting is a relatively new technology and there are still many technical challenges to overcome, including the development of more advanced bioprinting materials and techniques to create complex and functioning tissue structures.
– Cost Challenges: 3D bioprinting is a costly process due to the expensive equipment and materials needed for the process. Also, the cost of producing bioprinted tissues is still relatively high due to the high cost of research and development.
– Ethical Challenges: The use of 3D bioprinting raises ethical questions about the use of living cells for printing, as well as the potential for misuse and abuse of the technology.
– Accessibility Challenges: 3D bioprinting technology is not widely accessible, and even when it is, it is often not affordable for many people. This is a major challenge for the market’s future growth.
Top 3 Use Cases of 3D Bioprinting Market:
– Personalized Medicine: 3D bioprinting allows for the creation of personalized medicine tailored to patient’s unique genetic makeup, lifestyle, and environment. This can lead to improved patient outcomes, as well as reduced costs associated with traditional treatments.
– Drug Development: 3D bioprinting enables researchers to create complex 3D tissue models that more accurately simulate the body’s natural environment, allowing for more accurate drug testing.
– Tissue Engineering: 3D bioprinting can be used to create complex 3D tissue constructs for use in regenerative medicine, such as skin grafts, organ transplants, and bone replacements. This technology can help reduce the risk of organ rejection and improve the success rate of tissue engineering treatments.
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=170201787
3D Printing Medical Devices Market
4D Printing in Healthcare Market
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/3d-bioprinting-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/3d-bioprinting.asp
For more information on this press release visit: http://www.sbwire.com/press-releases/3d-bioprinting-market-to-reach-33-billion-by-2027-fueled-by-growing-demand-for-organ-and-tissue-replacement-technologies-1371470.htm
Media Relations Contact
Email: Click to Email Aashish Mehra