DUBLIN, March 23, 2023 /PRNewswire/ -- The "Global 3D Bioprinting Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Component, Material, Application, and Region" report has been added to ResearchAndMarkets.com's offering.
According to this analysis, the Global 3D Bioprinting Market was valued at ~US$ 1 billion in 2017. It is estimated to be ~US$ 2 billion in 2022 and is forecasted to reach a market size of ~US$ 5 billion, growing at a CAGR of ~15% owing to the rising demand from the manufacturing industry.
Several pharmaceutical firms are rapidly utilizing 3D bioprinting goods and technology in process of finding and developing new drugs. Compared to the conventional drug test process, 3D bioprinting allows the drug industry to test medications more affordably and safely, which acts as a driving factor for the growth of the market.
Due to uncontrollable processing parameters and different materials, the additive manufacturing method's accuracy varies between machines. A few monitoring techniques are available to assist producers in fulfilling their unique requirements by correcting these modifications. It has been challenging to create intricate and precise mathematical models using additive manufacturing, which acts as a major challenge for the market.
The market was positively impacted by the COVID-19 pandemic as various 3D Bioprinting communities are responding to the worldwide crises by offering their respective skills to ease the burden on the supply chain and governments.
As the cases of COVID-19 are increasing day by day, there has been a shortage of materials for medical professionals as well as for the general public. One of the biggest issues is the lack of availability of test kits for COVID-19. Hence, various 3D bioprinting companies are manufacturing 3D printers and related software on a large scale.
Scope of the Report
The 3D Bioprinting market is segmented by component, material, application, and region. In addition, the report also covers the market size for each of the four regions' 3D Bioprinting market. The revenue used to size and forecast the market for each segment is US$ billion.
Key Trends by Market Segment
By Component: The 3D bioprinters segment held the largest market share in the global 3D bioprinting market in 2021, owing to the growing demand for 3D bioprinting due to the widespread use of pharmaceutical pills to treat a variety of chronic conditions
Bioprinting is a form of additive manufacturing that uses biomaterials instead of traditional metals and plastics to create 3D tissues
3D bioprinters use three-dimensional technology in combination with biocompatible materials to replicate body parts. It is used for bioprinting of tissue, bone, organs, blood vessels tissue, and biomedical parts.
By Material: The living cells segment held the largest market share in the global 3D bioprinting market in 2021, owing to rising demand from the pharmaceutical industry.
Using living cells as bio-inks, the inkjet technology allows for the printing of complex organs and tissues on culture substrates.
Living tissues and organs can be printed in three dimensions by layering living cells. There is growing usage of living cells in regenerative medicine and stem cell research.
By Application: The clinical application segment held the largest market share in the global 3D bioprinting market in 2021, owing to utilization of bioprinting technology in clinical trials of various diseases.
Bioprinting saves time in clinical trials and, thus, is being increasingly used for drug discovery. Biopharmaceutical companies are collaborating with market players to test their drugs.
By Region: North America held the largest market share among all other regions within the global 3D bioprinting market in 2021, due to the supporting government policies to augment the growth of the region.
The increasing incorporation of IT in the healthcare industry and 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.
The USA government is spending more on research and development, in order to come up with vaccines for conditions like Covid and other diseases.
For more information about this report visit https://www.researchandmarkets.com/r/b6vjka
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