Worldwide 3D bioprinting market is Estimated to Grow Rapidly by CAGR of 25% till 2023

“3D Bioprinting Market”
Market Research Future published a Half-Cooked research report on “Global 3D bioprinting Market Research Report – Forecast to 2023”– Market Analysis, Scope, Progress, Trends and Forecast to 2023.

Nowadays, scientists are in the middle of moving from printing tiny sheets of tissue to entire 3D organs. The 3D bioprinting is a great innovation in the healthcare industry and helping a number of cardiac patients transform their lives. 3D bioprinting of human tissues and organs have been continuously evolving since the early 2000s. It has brought a revolutionary change in the organ transplant procedures and technology. It is a process involving the creation of cell patterns using 3D technology. With 3D bioprinting, it is possible to generate tissues by depositing materials known as bio-inks. Three-dimensional (3D) printing is driving the finest innovations in the field of engineering, manufacturing, art, education, and medicine. Recent advances in this field have enabled 3D printing of biocompatible materials, cells and supporting components into complex 3D functional living tissues. 3D bioprinting has been used for the generation and transplantation of several tissues like multi-layered skin, bone, vascular grafts, heart tissue, tracheal splints, and cartilaginous structures. Other applications include producing high-throughput 3D-bioprinted tissue models for research, drug discovery and toxicology.

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The global 3D bioprinting market is growing at a reasonable pace, mainly due to R&D investment and government funding which is set to increase the market at a quicker rate. According to a recent study report published by the Market Research Future, The global 3D bioprinting market is booming and expected to gain prominence over the forecast period growing rapidly. The market is forecasted to demonstrate a spectacular growth by 2023 , surpassing its previous growth records in terms of value with a striking CAGR of ~25% during the anticipated period (2017 – 2023).

The market is expected to grow with the same trends during the forecast period. A major driver supporting the growth of the market will be use of 3D bioprinting in the field of next generation pharmaceutical revolution. For instance, the development of 3D-bioprinting for organ replacement offers a new solution for the 1,500 patients on the organ receiver waiting list every year in Australia. Moreover, the market for 3D bioprinting is growing due to the increasing demand for bioprinting in the healthcare sector, high prevalence of chronic diseases, increasing number of organ transplants, and extensive research & development activities. Furthermore, growing stem cell research and increasing adoption of 3D bioprinting in cosmetic industry are expected to create ample growth opportunities for the global market. However, the high cost of 3D bioprinting, lack of skilled professionals and stringent regulatory processes are the key barriers for the growth of the global market.

Global 3D bioprinting Market – Competitive Analysis

Organovo Holdings, Inc (U.S.), Cellink AB (Sweden), Bio3D Technologies (Singapore), Aspect Biosystems Ltd. (Canada), Stratasys Ltd. (U.S.), Materialise (U.S.), Fathom (U.S.), BioBots (U.S.), and others are some of the prominent players at the forefront of competition in the Global 3D bioprinting Market and are profiled in MRFR Analysis.

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Different companies along with academic institutes and laboratories are investing a huge capital for 3D bioprinting research and development has supported the market growth. Key players in the market are involved in extensive R&D activities to use stem cells for bioprinting tissues, which drives the growth of this market. For instance, Materialise is one of the major player in this market. The company manufactures 3D bioprinters, and also undertakes 3D printing of anatomical models. In June 2017, Materialise improved 3D imaging and printing- clinical trials conducted in the U.S.

Additionally, in March 2017, the company announced FDA clearance for their 3D-printed patient-specific radius and ulna osteotomy guides for children. In May 2017, the company announced they would begin production of 3D bioprinter using technology-HP Jet Fusion 3D 4200.

Companies like Organovo, which are printing human tissues with the help of 3D bioprinters, developed in collaboration with Invetech, will lead us into the future of medicine. As the 3D bioprinting technology advances, synthetic body organs and artificial tissues will become a reality in future.

Moreover, Organovo Holding Inc. participated in conferences such as Cantor Fitzgerald Inaugural Healthcare Conference in 2015, in order to increase awareness regarding their current activities in the field of 3D bioprinting. The company also announced a partnership with L’Oreal in the field of hair and skin care to develop skin tissue using their NovoGen Bioprinting Platform. Therefore, the various key developments in the area of 3D bioprinting has upsurged the growth of the market.

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