Bioprinting is a rapidly advancing field that offers a transformative approach to fabricating tissue and organ models through the precise deposition of cell-laden bioinks. Ensuring the fidelity and consistency of printed structures in real-time remains a core challenge, particularly under constraints imposed by limited imaging data and resource-constrained embedded hardware. Semantic segmentation of the extrusion process, differentiating between nozzle, extruded bioink, and surrounding background, enables in situ monitoring critical to maintaining print quality and biological viability. In this work, we introduce a lightweight semantic segmentation framework tailored for real-time bioprinting applications. We present a novel, manually annotated dataset comprising 787 RGB images captured during the bioprinting process, labeled across three classes: nozzle, bioink, and background. To achieve fast and efficient inference suitable for integration with bioprinting systems, we propose a BioLite U-Net architecture that leverages depthwise separable convolutions to drastically reduce computational load without compromising accuracy. Our model is benchmarked against MobileNetV2 and MobileNetV3-based segmentation baselines using mean Intersection over Union (mIoU), Dice score, and pixel accuracy. All models were evaluated on a Raspberry Pi 4B to assess real-world feasibility. The proposed BioLite U-Net achieves an mIoU of 92.85% and a Dice score of 96.17%, while being over 1300x smaller than MobileNetV2-DeepLabV3+. On-device inference takes 335 ms per frame, demonstrating near real-time capability. Compared to MobileNet baselines, BioLite U-Net offers a superior tradeoff between segmentation accuracy, efficiency, and deployability, making it highly suitable for intelligent, closed-loop bioprinting systems.