DUBLIN--(BUSINESS WIRE)--The "3D Bioprinting Market by Component (3D Bioprinters (Microextrusion, Inkjet, Laser), Bioink (Natural, Synthetic, Hybrid)), Material (Hydrogel, Living Cells), Application (Skin, Drug Research), End user (Biopharma, Academia) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The 3D bioprinting market is projected to reach USD 1,647 million by 2024 from USD 651 million in 2019, at a CAGR of 20.4% from 2019 to 2024.

The growth in this market is mainly driven by technological advancements in 3D bioprinters and biomaterials, increasing the use of 3D bioprinting in the pharmaceutical and cosmetology industries, and rising public and private funding to support bioprinting research activities. On the other hand, a shortage of skilled professionals and high development and production costs are hampering the growth of this market.

The major players in the market include Organovo Holdings Inc. (US), CELLINK (Sweden), Allevi Inc. (US), Aspect Biosystems Ltd. (Canada), EnvisionTEC GmbH (Germany), Cyfuse Biomedical K.K. (Japan), Poietis (France), TeVido BioDevices (US), Nano3D Biosciences, Inc. (US), ROKIT Healthcare (South Korea), Digilab Inc. (US), regenHU (Switzerland), GeSiM (Germany), Advanced Solutions Life Sciences (US), and Regenovo Biotechnology Co., Ltd. (China) among others.

Microextrusion technology commanded the largest share of 3D bioprinters segment owing to technological advancements

The component segment of the 3D bioprinting market is segmented into 3D bioprinters and bioinks. The 3D bioprinters market is further sub-segmented on the basis of technology into magnetic 3D bioprinting, laser-assisted bioprinting, inkjet 3D bioprinting, microextrusion bioprinting, and other technologies; whereas bioinks segment is further sub-segmented into natural, synthetic, and hybrid bioinks. The microextrusion bioprinting technology has commanded the largest share of the market in 2019 due to technological advancements in the segment and the increasing research activities.

The drug discovery research application segment accounted for the largest share of the 3D bioprinting market in 2019

In terms of applications, the 3D bioprinting market is segmented into research applications and clinical applications. The demand for research applications is further sub-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 2019, owing to the growing adoption of 3D bioprinting technology by biopharmaceutical companies. While, in terms of clinical applications, the market is segmented into skin, bone & cartilage, blood vessels, and other clinical applications.

Based on material, living cells segment commanded the leading market share in 2019

Based on material, the 3D bioprinting market is broadly segmented into hydrogels, extracellular matrices, living cells, and other biomaterials. Increasing R&D; activities for the use of living cells in 3D bioprinting is driving the growth of the living cells segment. Living cells have the ability to fabricate patient-specific tissues in a defined manner. With advances in 3D bioprinting, scientists and researchers are making use of living cells as a biomaterial in 3D bioprinting. These cells can be used to print living tissues as well as organ structures for surgical implantations. However, ethical issues associated with the use of stem cells in 3D bioprinting might hamper the growth of the segment.

The US 3D bioprinting market to hold prominent market share over the forecast period

On the basis of region, the 3D bioprinting market is segmented into North America, Europe, Asia Pacific, and Rest of the World (Latin America, and the Middle East and Africa). The US held a significant share of the global 3D bioprinting market in 2019. Factors such as new product launches and technological advancements in 3D bioprinting technology and the presence of key players in the region are driving the growth of the 3D bioprinting market in the US. Moreover, extensive research activities and funding for 3D bioprinting will further fuel the market growth in the US.

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Companies Mentioned

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Global 3D Bioprinting Market Outlook, 2019-2024 - Market Anticipated to Reach $1.64 Billion by 2024 - ResearchAndMarkets.com - Business Wire