As per the latest industry analysis by Persistence Market Research, valuation of the global bioinks market was US$ 115.7 Mn at the end of 2021 and is projected to exhibit a CAGR of 18.6% over the forecast period (2022-2032).
Organ deterioration is very common with growing age and creates demand for 3D printed organs. Rising geriatric population, changing lifestyles, and excessive consumption of tobacco & alcohol have led to a rise in organ damage, and has thereby generated demand for bioinks.
- In July 2019, according to the American Transplant Foundation, in the U.S., more than 113,000 people were on the national waiting list; the unavailability of organs causes the death of 20 patients per day in the country.
The global coronavirus pandemic had a detrimental influence on the market since patients’ main concerns revolved around COVID-19 prevention and control. As a result, fewer bioinks were used in 3D bioprinted devices since researchers were more focused on developing vaccines and medical professionals & doctors were more concerned with managing COVID-19-related infections.
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Numerous technologically advanced tissue engineering techniques are being introduced into the market. To support 3D printing applications and the development of human organs, bioinks have become an important part of the overall value chain.
- CELLINK and Allevi, Inc. have introduced new bioinks for the development of organs with 3D printing technology.
Key Takeaways from Market Study
- By material, collagen is the leading segment and held 20.3% market share in 2021.
- By source, natural bioinks held 80.3% share in 2021, in the global market.
- By printing modality, extrusion-based bioprinting is the leading segment and accounted for 73.4% market share in 2021.
- By application, tissue engineering & regenerative medicine is projected to expand at a CAGR of 17.3% through 2032.
- By organ, the muscles segment is expanded to grow fast at a projected CAGR of 20.8%.
- By end user, medical device manufacturers accounted for 37.8% market share in 2021, being the prime user of bionks for 3D bioprinting.
- North America is the leading regional market with a value share of 42.9% in 2021.
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Market Competition
The market for bioinks is oligopolistic in nature, and there exist a number of established competitors. Key market players focus on enhancing their product portfolios through sustained research efforts in novel product development. Market competitors are also focusing on regional expansion, product sales and distribution, and marketing.
- In 2021, BICO filed patents in the United States and Sweden for the 3D bioprinting of temperature-sensitive bioinks.
- In 2020, Merck started the development of its manufacturing facilities with a €40 million investment in the U.S.
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