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3. CELLINK (Sweden) and Organovo Holdings Inc. (US) are Leading Players in the 3D Bioprinting Market

The 3D bioprinting market is projected to reach USD 1,647 million by 2024 from USD 651 million in 2019, at a CAGR of 20.4% from 2019 to 2024. The growth of this market is attributed to the growing research and development activities in the field of 3D bioprinting, the rising demand for organ transplantation across the globe, and increasing adoption of 3D bioprinting technology for drug discovery process. However, a lack of sufficient evidence for the efficacy of 3D bioprinting and the preference for alternative procedures are hindering the growth of the market.

Prominent players in the 3D bioprinting market include Organovo Holdings Inc. (US), CELLINK (Sweden), Allevi Inc. (US), Aspect Biosystems Ltd. (Canada), EnvisionTEC GmbH (Germany), Cyfuse Biomedical K.K. (Japan), Poietis (France), TeVido BioDevices (US), Nano3D Biosciences, Inc. (US), ROKIT Healthcare (South Korea), Digilab Inc. (US), regenHU (Switzerland), GeSiM (Germany), Advanced Solutions Life Sciences (US), and Regenovo Biotechnology Co., Ltd. (China).

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An analysis of market developments between 2016 and 2019 revealed that several growth strategies such as product launches and enhancements, partnerships, agreements, and strategic acquisitions were adopted by market players to strengthen their product portfolios and maintain a competitive position in the 3D bioprinting market. Collaborations and partnerships, as well as product launches to deliver novel technology in the market, were the most widely adopted growth strategies by market players.

CELLINK (Sweden): CELLINK has emerged as a market leader, owing to its vast product portfolio and intense focus on technological advancements and expanding its geographical reach. The company offers 3D bioprinters as well as bioinks in the market. CELLINK is the world’s first manufacturer and provider of bioinks. CELLINK has continued to invest in the development of new bioinks, software, and hardware, which is helping the company witness immense growth in the market. In 2018, CELLINK launched ~15 new inks.

Organovo Holdings Inc. (US): until 2017, Organovo was a leading player in the 3D bioprinting market. However, in FY 2018, the company registered an operating loss due to high investments in R&D and failure in their research trials. The company is focusing on research collaborations to deliver novel products in the market. For instance, in 2017, the company collaborated with the University of Virginia to develop 3D bioprinted tissues for volumetric muscle loss injury

Related Reports:

3D Bioprinting Market by Component (3D Bioprinters (Microextrusion, Inkjet, Laser), Bioink (Natural, Synthetic, Hybrid)), Material (Hydrogel, Living Cells), Application (Skin, Drug Research), End user (Biopharma, Academia) - Global Forecast to 2024

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