3D Cell Culture Market Significant Profits Estimated to be Generated by 2028
3D Bioprinting Market Growth & Trends
The global 3D bioprinting market size is expected to reach USD 4.4 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 15.8% from 2021 to 2028. Rising cases of COVID-19 and increasing prevalence of chronic diseases are some of the major factors contributing towards market growth.
The COVID-19 epidemic is ever increasing since it was first identified in China in December 2019. Until January 12, 2021, more than 91.5 million cases of COVID-19 were reported globally, with more than 1,956,880 deaths, across the globe. This pandemic has fast tracked the development of vaccine and drug testing. There are currently more than 50 COVID-19 vaccine candidates in trials.
In the meantime, various 3D bioprinting companies are focused on research and development of artificial tissues. With the help of U-FAB, and other bioprinting technologies, CLECELL company has created respiratory epithelium artificial tissue which will help to prevent infection and tissue injury through the use of the mucociliary elevator. This pandemic has not only affected the well-being of people, but has also affected the economy, and various other healthcare infrastructures worldwide. This has severely disrupted the medical devices and pharmaceutical supply chains across the world. In such critical situation, various 3D bioprinting companies have created a global movement to supply emergency medical equipment such as ventilators, and personal protection equipment (PPE), to the healthcare workers.
North America held the highest share of the market, accounting for about 32.4% of the market share in 2020. Increasing adoption of 3D bioprinting for the production of medical products is expected to be one of the major factors contributing to market growth in this region. Whereas, Asia Pacific is anticipated to witness technological developments in pharmaceutical and biopharmaceutical sectors.
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3D Bioprinting Market Report Highlights
- The medical segment accounted for the largest revenue share of 36.2% in 2020 due to the increasing investment made in R&D
- The magnetic levitation segment is anticipated to witness the highest CAGR of 17.0% over the forecast period due to technological development and increasing adoption of magnetic levitation technique by various innovators
- North America dominated the market in 2020 and accounted for the largest revenue share of 32.4%. Growing government expenditure on healthcare industry is one of the major factors driving the market
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3D Bioprinting Market Segmentation
Grand View Research has segmented the global 3D bioprinting market on the basis of technology, application, and region:
3D Bioprinting Technology Outlook (Revenue, USD Million, 2016 – 2028)
- Magnetic Levitation
3D Bioprinting Application Outlook (Revenue, USD Million, 2016 – 2028)
- Tissue and organ generation
- Medical pills
- Prosthetics and implants
- Consumer/Personal Product Testing
- Food and Animal Product
3D Bioprinting Regional Outlook (Revenue, USD Million, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
List of Key Players of 3D Bioprinting Market
- Envisiontec, Inc.
- Organovo Holdings, Inc.
- Inventia Life Science PTY LTD
- Vivax Bio, LLC
- Cyfuse Biomedical K.K.
- 3D Bioprinting Solutions
- Cellink Global
- Regemat 3D S.L.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.