The global 3D bioprinting market is expected to reach USD 1,332.6 million in 2021 from USD 411.4 million, at a CAGR of 26.5% from 2016 to 2021. The 3D bioprinting market is primarily driven by the rising demand for organ transplantation, alongside the growth in R&D activity and public & private investments for research and the rising use of 3D bioprinting in drug discovery.
North America and Europe are the major contributors to the growth of the market. These regions are expected to witness significant growth, attributed to increasing government initiatives and rising demand for organ transplantation. Developing regions such as Asia-Pacific are expected to be the new revenue-generating markets for players engaged in offering 3D bioprinting products. The growth of the Asia-Pacific region is attributed to increase in overall & stem cell research and growing demand for organ transplantation.
On the basis of technology, the global 3D bioprinting market is segmented into microextrusion, laser-assisted, inkjet, and magnetic 3D bioprinting. The microextrusion 3D bioprinting segment is estimated to command the largest share of the market in 2016, due to the high affordability and simple setup process of the technique. The inkjet 3D bioprinting technique holds the second-largest share in the 3D bioprinting market. The growth of this segment can be attributed to rising awareness on the technology, in turn due to conferences, events, and trade shows related to inkjet 3D bioprinting technology.
By application, the market is segmented into clinical and research applications. The research applications segment holds the largest share in the 3D bioprinting market. Increasing initiatives by market players and university scientists in the 3D bioprinting field for developing novel products and technologies form a key factor stimulating the growth of the research applications segment.
Based on material, the 3D bioprinting market is further segmented into living cells, hydrogels, extracellular matrices, and other biomaterials. The living cells segment is expected to account for the largest share of the 3D bioprinting market in 2016. Increasing R&D initiatives for the use of living cells in the 3D bioprinting process as compared to other materials form the key factor driving the growth of this segment. Hydrogels hold the second-largest share in the 3D bioprinting market. The major factor contributing to the growth of this segment is the dynamic properties of hydrogels, which make it essential for use in 3D tissue engineering and biomedical applications.