3D Bioprinting Market Worth $2.4 billion: MarketsandMarkets™
24 May 2024: 3D Bioprinting Market in terms of revenue was estimated to be worth $1.3 billion in 2024 and is poised to reach $2.4 billion by 2029, growing at a CAGR of 12.7% from 2024 to 2029 according to a new report by MarketsandMarkets™.
The growth in 3D bioprinting market is fueled by growing adoption of 3D bioprinting technology within the pharmaceutical and cosmetic industries, advancement in 3D bioprinting technology, rising public and private partnerships and collaborations, increasing investments in R&D and the expenditure on medical devices.
Key Market Drivers …
– Growing adoption of 3D bioprinting technology within the pharmaceutical and cosmetic industries
– The 3D Bioprinters segment segment is expected to have the dominant share of the 3D bioprinting market in 2023
Based on component, the global 3D bioprinting market is segmented into 3D bioprinters, bioinks, software and consumables. 3D bioprinters accounted for the larger market share in 2023. The segment is witnessing growth driven by technological innovations and escalating demand for organ transplantation services.
Based on application, the 3D bioprinting market is segmented into research applications and clinical applications. research applications segment accounted for the larger share of the 3D bioprinting market in 2023. 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 during forecast period of 2024-2029, due to the pharmaceutical & biotechnology firms intensifying their integration of 3D bioprinting technology.
Asia Pacific is accounted to be the fastest-growing segment of the market. Large population base and robust domestic manufacturing capabilities for systems, fostering heightened partnerships and collaborations geared towards healthcare enhancement characterized by substantial investment in research and development (R&D), rising demand for organ transplants, rising government funding for advancement of 3D bioprinting technology in the region. Additionally, notable surge in stem cell research activities across several APAC countries, further contributing to the biomedical landscape is driving 3D bioprinting uptake in the region.
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