Bioprinting Market to See 35.4% Annual Growth Through 2023

Strong Demand Comes from Drug Discovery and Screening Applications

April 23, 2019

WELLESLEY, Mass., April 23, 2019–Rapid adoption in drug discovery, research and screening is helping to boost growth in the bioprinting market, according to a report by BCC Research, “Current Bioprinting Prospects and Future Innovations.”

The global bioprinting market expects to see a compound annual growth rate (CAGR) of 35.4% through 2024, when it could be worth $1.4 billion.

Major players in the market include Organovo (ONVO), Cellink (CLKKF), Bio3D Technologies, Aspect Biosystems, Aether, Allevi, EnvisionTEC, Nano3D Biosciences, and Cyfuse Biomedical.

Research Highlights

• 3D cell culture products lead the market by growth, with a CAGR through 2024 of 39.2%, followed by bioprintrers at 36.7% and bioinks at 35.1%.
• For bioprinting technology, scaffold-based bioprinting leads by both size and growth, with a CAGR through 2024 of 36.1% and 2018 value of $134.1 million.
• End-user growth will be strongest among pharmaceutical and biotechnology companies, which expect a CAGR through 2024 of 36.6%, followed by research institutes at 35.8% and cosmetics at 33.9%.

“Bioprinting has found applications in several fields, including tissue engineering and regenerative medicine, organ transplantation, drug and toxicity testing, high-throughput assays and cancer research,” notes report author Dr. Kamna Jhamb. “Many kinds of tissues, particularly those that do not need vascularization or are hollow or thin tissues, have been successfully bioprinted. Examples include bone tissues, cartilage tissue, liver tissue, skin tissues, among others.”

Challenges Include Lack of Skilled Labor, High Equipment Costs

A number of factors are conspiring to restrain market growth. Chief among those is a lack of workers who can operate 3D bioprinting equipment. Further, with some printers costing up to $200,000, research-fund-limited laboratories are not always able to afford them. Additionally, technological challenges limit application of these units and successful fabrication of biological 3D tissue constructs.

Editors/reporters requesting analyst interviews should contact Sarah Greenberg at press@bccresearch.com.

Current Bioprinting Prospects and Future Innovations( BIO176A )
Publish Date: Apr 2019    

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