FMI has projected the 3D bioprinting market to record a CAGR of 12.9% through 2030. Demand for 3D bioprinting is anticipated to continue surging due to the increasing preference by surgeons to precisely perform reconstructive surgery
“Key producers of 3D bioprinting are now increasing their product portfolio with the launch of 3D printers and devices as part of their extensive manufacturing strategy, which is expected to create opportunities for the market growth in near future,” says the FMI analyst.
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3D bioprinting Market – Important Highlights
- Demand for Fused Deposition Modeling (FDM) technology is projected to remain strong shortly
- The 3D bioprinting application is expected to be the highest in the manufacture of orthopedic implants.
- Medical device manufacturers have a strong demand for 3D bioprinting.
- The U.S. currently dominates the worldwide market and Sales will account for more than 36% of overall demand during the forecast period.
3D bioprinting Market – Drivers
- The rising demand for implants for the administration of effective treatment is one of the key factors contributing to the expansion of the segment.
- The increasing incidence of orthopedics around the world is fuelling demand for 3D bioprinting to produce orthopedic implants.
- The Increasing number of dermal procedures and treatments is anticipated to fuel the market growth.
3D bioprinting Market – Restraints
- There are ethical issues involved in 3D bioprinting, which is causing serious problems for the industry.
- product recalls about issues on the safety of the item are creating deterrents
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COVID-19 Impact on 3D bioprinting Market
During this time there has been a disruption in the supply and demand chain which has caused an impact on the revenue of the 3D bioprinting in a negative way. However, this is estimated to be a temporary effect and the market is expected to have a turnaround. The pandemic has led to a decrease in the patient’s flow in the hospitals, and doctor chambers. This has caused a reduction in the number of surgeries and that in turn has affected the 3D bioprinting market.
The industry is consolidated with a wide number of key players competing in the global market. Key companies are aiming at strategic collaboration. In February 2019, in January 2021, 3D Systems announced the expansion of its regenerative and bioprinting solutions by strategically investing in regenerative areas in partnership with United Therapeutics Corporation.
Some of the leading companies operating in the market are 3D Systems, Inc, GE Healthcare, ExOne (S. Kent Rockwell], Electro-Optical Systems, Renishaw plc., Stratasys Ltd., EnvisionTEC
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About the Study
The study offers readers a comprehensive assessment of the 3D bioprinting market. Global, regional, and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights based on technology type (Stereolithography (SLA), Selective Laser Sintering, Electron Beam Melting, Fused Deposition Modeling (FDM), Laminated Object Manufacturing (LOM, Inkjet Printing), end-use (Pharmaceutical Companies, Research & Academic Institutions, Contract Research Organizations), and across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).