BICO Group AB (US) and 3D Systems, Inc. (US) are the Top Players in the 3D Bioprinting Market
The global market for 3D bioprinting is projected to reach USD 3.3 billion by 2027 from USD 1.3 billion in 2022, at a CAGR of 20.8% during the forecast period. The technological advancements in 3D bioprinters & biomaterials, increasing use of 3D bioprinting in the pharmaceutical and cosmetology industries, and rising public and private funding to support bioprinting research activities are mainly driving the growth in this market. However, shortage of skilled professionals and high development and production costs are restraining the growth of this market.
The global 3D bioprinting market is highly fragmented, with many players operating in the market. The top two players in the market-BICO Group AB (US) and 3D Systems, Inc. (US) (Allevi Inc.)-accounted for a share of ~10-15%. There are many small, medium, and emerging companies in this market, accounting for around 85-90% of the market. Therefore, the intensity of competitive rivalry in the 3D bioprinting market is low.
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BICO Group AB (US) offers products for 3D cell cultures for high-throughput drug screening and printing of human tissues and organs. The company’s clients include the medical, pharmaceutical, and cosmetic industries. The company operates in two broad business segments, namely, Laboratory Solutions and Bioautomation (Industrial Solutions segment till 2020). The company has a strong geographic footprint with 14 subsidiaries and a global presence spanning North America, Europe, Latin America, and the Asia Pacific. From 2019 to 2021, the company has engaged in strategic developments such as acquisitions, product launches, and geographic expansions. Thus, the company is expected to witness significant growth in the global 3D bioprinting market.
3D Systems, Inc. (US) acquired Allevi, Inc. in 2021. The company develops and commercializes 3D tissues for use in the healthcare industry through Allevi. The company’s products include 3D bioprinters, bioinks, and software, which assist in the layer-by-layer printing of 3D living tissues. The company also specializes in regenerative medicine, tissue engineering, 3D bioprinting, and 3D printing. 3D Systems develops innovative 3D bioprinting solutions to maintain its dominant position in the 3D bioprinting market. For instance, in June 2021, 3D Systems, along with CollPlant, developed a 3D-bioprinted regenerative soft tissue matrix for use in breast reconstruction procedures. The company’s increased focus on research and development activities and strengthening its geographic presence are expected to facilitate its growth in the 3D bioprinting market.
Related Reports:
3D Bioprinting Market by Component (3D Bioprinters (Microextrusion, Inkjet, Laser, Magnetic), Bioink (Natural, Synthetic, Hybrid)), Material(Hydrogel, Living Cells), Application (Research, Clinical), End user (Biopharma, Academia) - Global Forecast to 2027
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