3D Bioprinting Market 2018 Highlight by Product Type and Application | Ravishing Growth of 25% with Leading Player by 2023
3D Bioprinting Market Information by Product Type (Photo Polymerization, Electro Beam melting, Laser Beam Melting, Droplet disposition), by Application (Tissue printing, Tissue Creation, Surgery), by End User (Hospital, Research Facilities) – Forecast to 2023
Pune, India – April 9, 2018 /MarketersMedia/ —
The Global 3D Bio-Printing Market is expected to grow at an approximate CAGR of 25% during the forecast period 2018-2023.
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.
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.
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.
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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.
Regional Analysis:
The Americas dominates the global 3D bio-printing market owing to a well-developed healthcare sector and huge patient population for organ transplantation drives the market growth within the region. Moreover, increasing healthcare expenditure and growing biotech sector boosts the market growth. Additionally, the presence of global players like ORGANOVO HOLDINGS, INC. and Stratasys Ltd. others within the region fuels the market growth during the forecast period.
Europe is the second largest 3D bio-printing market owing to the high healthcare expenditures and increasing government support for research & development. Moreover, the presence of the developed economies like Germany, U.K and France within the region fuels the market growth during the forecast period.
Asia Pacific is the fastest growing region in global market due to the presence of a huge patient population and continuously developing economies like India and China which have a growing healthcare industry. According to the Indian Brand Equity Foundation in 2017, the Indian healthcare sector is one of the fastest growing industries and is expected to advance at a CAGR of 22.87% during 2015-2020 and reach USD280 billion by 2020.
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On the other hand, the Middle East & Africa holds the least share in the global 3D bio-printing market due to presence of poor economies in the African region. A majority of the Middle East & Africa market is held by the Middle East due to the presence of developed economies like Kuwait, Saudi Arabia, Dubai and Qatar.
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