Bioinks Market Size, Share, Growth and Industry Analysis by Type (Matrix Bioinks, Sacrificial Bioinks, Support Bioinks, And, Others), By Application (Tissue Engineering, Drug Delivery, Medical Diagnostics and Biosensors, Structural Genomics, And, Other) Regional Forecast By 2031

Updated On: 08 April 2024

Bioinks Market Report Overview

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The global bioinks market size is anticipated to be worth USD 52.37 million in 2022.  As per our research, the market is projected to touch USD 385.93 million in 2031 with a CAGR of 22.55 % during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Bioinks are materials that are used for producing artificial tissues that are live. Such tissues can be generated with the help of 3D-printing. It is made up of a wide range of materials including gelatin, methacrylol, collagen, and Pluronic. This technique an also produce bines and blood vessels.

Some of the most advanced technologies like U-FAB techniques are being used to generate artificial tissues. Healthy tissues are being produced. These tissues can repair any damage or injuries. This is identified as the latest trend in the market currently.

Bioinks can be used in regenerative medicines, medical device manufacturing, and cancer drug therapy. Growing risks of organ failures have further increased the demand for the medical product. All of these factors play a major role in propelling the bioinks market growth.

COVID-19 Impact: Development in Medical Sector Due to Pandemic Increased Market Share

The outbreak of COVID-19, resulted in an increased emphasis on improved medical situations. Along with an ongoing financial crisis there was a massive health problem faced by everyone across the globe. The death rates increased drastically due to the rapid spread of virus.

Governments of various countries took several steps to find out medications to the on going pandemic. Funds were released into the research and development department. This encouraged the development of bioinks market and 3D printing of tissues, cells, and bones. Hence, the market registered a noticeable growth during pandemic period.

LATEST TRENDS

"Incorporation of U-FAB technology to Promote Market Growth"

Several researches and studies have been focused on the development of artificial tissues. This involves the incorporation of several advanced technologies like U-FAB technology to generate better artificial tissues.

With the help of bioinks, respiratory epithelium artificial tissues were produces. These tissues work to prevent any kind of infection and tissue damages or injuries. This can become possible due to the use of mucociliary elevator. Bioinks along with 3D printing devices have been used in supplying medical equipments. This can be observed as the latest trend in the market.

Bioinks Market SEGMENTATION

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• By Type:

The market can be divided on the basis of type into the following segments:

Matrix bioinks, sacrificial bioinks, support bioinks, and, others. The matrix bioinks segment is anticipated to dominate the market during the forecast period.

• By Application:

Based on application, the market share is bifurcated into the following segments:

Tissue engineering, drug delivery, medical diagnostics and biosensors, structural genomics, and, other. The tissue engineering segment is expected to dominate the market during the forecast period.

DRIVING FACTORS

"Usage of Bioinks in Fields like Tissue Engineering to Amplify Market Growth"

Bioinks have many applications and are used in several medical sectors like tissue engineering, and tissue transplants. As bioinks have properties of producing engineered-artificial live tissues they have a global demand. They can be used for the process of development of organs and skin regeneration.

Bioinks are used in pharmaceutical drug development. Many medical companies have taken initiative to invest more into this market in order to include bioinks in their portfolio. This will provide them an opportunity to expand their presence globally. On going studies have shown how these bioinks can be used in regenerative medicines, medical device manufacturing, and cancer drug therapy. The wide usage of this medical product is prone to bring tremendous growth to the bioinks market share.

"Increasing Prevalence of 3D Printing to Impede Market Growth"

3D printing is slowly gaining popularity for its medical uses. Combination of 3D printing and bioinks can help in the formation of several organs in the body. 3D printing cannot happen without the use of bioinks. Bones, tissues, and cartilages can be produced with the help of these components. Functional organs, tissue structures.

One more factor that can aid the market growth is the launch of additive manufacturing programs. AM or additive manufacturing will help in fulfilling the 3D printing needs of small as well as medium sized industries. Increasing cases of organ failures have also increased the demand for bioinks. These factors have propelled the market growth.

RESTRAINING FACTOR

"Patent Filing and Ethical Views to Bring Down Market Share"

In spite of the growing demand for bioinks and 3D printing, certain factors like patent filing and ethical considerations can restrain the growth of bioink market. Artificially developed organs can be considered as intellectual properties and hence are associated with the risk of intellectual property theft.  Strict guidelines have been laid down to prevent such thefts of intellectual properties and patents.

In certain countries, these synthetically developed organs will have to receive FDA approval in order to be used and transplanted. However, the major challenge of using bioinks to produce artificial tissues remain in the biocompatibility of materials used to produce them. All of these factors can restrain the market growth.

Bioinks Market Regional Insights

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"North America to Dominate Market Share in the Upcoming Years "

North American is the leading producer of bioinks followed by Asia Pacific. Many reasons have contributed in the development of the market in North America. Increasing demand for regenerative therapies like tissue engineering and regenerative medicines is driving the demand for bioinks.   

Moder science is developing and as a result, cell and gene therapies are evolving. Accidental case traumas, and organ failures are increasing day by day making bioinks an important necessity in the field of medicine. Initiatives taken up by government authorities in North America to fund research and development is also having a positive impact on the bioink market.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• UPM Biomedicals (Germany)
• StemEasy (U.K.)
• CollPlant (Israel)
• Cellink (Sweden)
• SunP Biotech (Germany)
• Manchester BIOGEL (U.S.)
• AlleviBrinter (U.S.)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations. List of key industry players have been listed down to understand the competition in the market.