The Global 3D Bioprinting Market size is projected to touch USD 1,923.02 million by 2023, asserts Market Research Future (MRFR). The market can showcase an impressive 24.59% CAGR from 2018 to 2023 (forecast period) to reach this value. It was previously valued at USD 517.97 million in 2017.
Increasing demand for organ transplantation is projected to drive market demand year-on-year till 2023. This is attributed to the paucity of organs available for transplants. In 2014, nearly 120,000 people were on the waiting list for organs. This opportunity can be capitalized by the 3D bioprinting market by manufacturing customized organs according to body size.
Investments in 3D bioprinting via public and private means to widen its scope is likely to boost the market growth. For instance, Tekes, the Finnish Funding Agency for Innovation, awarded funds to the University of East Finland to develop a fully functioning 3D brain for research purposes. Moreover, cost-efficiency of 3D bioprinted products is likely to lead to renewed interest by investors.
Lack of awareness of the technology and shortage of skilled professionals can act as growth deterrents in the market.
3D Bioprinting Market – Dominant Players
Key market contributors are
- Stratasys Ltd. (U.S.)
- ORGANOVO HOLDINGS, INC. (U.S.)
- Aspect Biosystems Ltd. (Canada)
- FATHOM (U.S.)
- CELLINK AB (Sweden)
- Bio3D Technologies (Singapore)
- Materialise (U.S.)
- Allevi (U.S.)
- ENVISIONTEC, INC. (Germany)
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Industry/ Innovation /Related News:
August 23, 2018 – Researchers at Brigham and Women’s Hospital (US) published their study for the 3D bioprint tubular structures they developed. These new structures better mimic vessels and ducts in human body. The 3D bioprinting technique allows fine-tuning of the printed tissues’ properties, such as number of layers and ability to transport nutrients.
These more complex tissues offer potentially viable replacements for damaged tissue. The team plans to continue preclinical studies to optimize the bio-ink composition and 3-D-printing parameters before testing for safety and effectiveness. They are currently optimizing the parameters and biomaterial even further to create tubular structures with enough mechanical stability to sustain themselves in the body.
August 10, 2018 – Allevi (US), 3D bio-printer manufacturer and Made in Space (US), a company with two 3D printers aboard the International Space Station (ISS), represents the first step toward those scenes of sci-fi medicines, have formed a partnership to send 3D bioprinter to the space station. The two companies ensure that the ZeroG bio extruder, developed by Allevi which is capable of printing biomaterials in microgravity, slots easily into a Made in Space printer to allow astronauts to plug-and-play.
3D Bioprinting Market – Regional Analysis
Geographically, the market has been segmented into the Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA).
The Americas hold the maximum share owing to a well-structured healthcare sector and heavy investment both by the government and the private players. A large base of patient population waiting for transplantation is also a market booster. Healthcare expenditure due to a rise in disposable income and the presence of significant market players are proving to be significant contributors.
Europe is the second largest market with a cluster of developed countries such as France, Germany and the U.K. who are spending heavily on the technology and is always eager to innovate.
APAC is the fastest growing region with continuously growing population and burgeoning healthcare sector in developing countries such as China and India. According to the Indian Brand Equity Foundation in 2017, the Indian market is deemed to grow with an astonishing CAGR of 22.87% by 2020 and touch USD 280 billion.
MEA is unlikely to get a huge boost owing to the presence of several poor countries in the region. Qatar, Kuwait, Saudi Arabia, and Dubai are the few countries with advanced healthcare infrastructure and interested in research investments.
3D Bioprinting Market – Segmentation
The MRFR analysis is segmented into five key dynamics for the convenience of understanding;
By Techniques: Electron Beam Melting, The Laser Beam Melting (photo polymerization, stereo lithography, two-photon polymerization, and others.) and Droplet Disposition (inkjet printing, fused disposition methods, multi-phase jet solidification, and others.) among others.
By Applications: Clinical (tissue transplantation, bone grafts, vascular grafts, wound care, and others), and Research (regenerative medicine, personalized healthcare, 3D cell culture, and others) among others.
By Materials: Cells, extracellular matrices, fibrinogen, alginate and Hydrogels among others.
By End Users: Biotechnology Companies, and Academic Institutes among others.
By Regions: North America, Europe, APAC and the Rest-of-the-World.
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