3D Bioprinting Market Scope
The Global 3D bioprinting market is anticipated to exhibit a CAGR of 24.59% during the forecast period. It can touch a commendable valuation of USD 1,923.02 million by 2023 due to application in production of tissues and organs. Organ transplantation surgeries is projected to induce the demand for the additive manufacturing process greatly. According to the U.S. Organ Donor website, close to 36,528 surgeries were conducted in 2018. AS per the U.S. National Institute of Health, a team of scientists have developed stereo-lithography for tissue engineering (SLATE) for growing hydrogel scaffolds which solidifies when exposed to blue light.
The affordable nature of the technology will be pivotal in fueling the market growth. This is evident by the use of prosthetics and small implants in craniofacial and dental disorders. Presence of various players and their ability to keep production costs low can bode well for the market.
3D bioprinting is the process of using the techniques of 3D printing for manufacturing parts compatible with cells and mimic tissue characteristics. It uses bioink for creating structures in a layer wise manner with wide applications in the medical industry. Profound success found in regeneration and reconstructive surgeries has driven this additive manufacturing process to the spotlight. The global 3D bioprinting market report by Market Research Future (MRFR) outlines the valuation of the market as well as predictions and insights for the period of 2018 to 2023 (forecast period).
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3D Bioprinting Market Segmentation
The 3D bioprinting market is segmented by technology, material, application, and end-user. By technology, it is segmented into microextrusion bioprinting, inkjet 3D bioprinting, magnetic 3D bioprinting, and laser-assisted bioprinting.
By material, the market is segmented into living cells, extracellular matrices, and hydrogels.
Major applications in the 3D bioprinting market include research and clinical applications.
End-users in the 3D bioprinting market include pharmaceutical & biotechnology companies and research organizations & academic institutes. Pharmaceutical & biotechnology companies can exhibit a CAGR of 24.98% during the assessment period. The emergence of personalized medicine and organ bioprinting can drive research and development purposes in 3D printing.
3D Bioprinting Market Regional Analysis
Based on regions, the 3D bioprinting market is segmented into the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
Among these, the Americas had captured the majority of the global 3D bioprinting market share in 2017 owing to massive 3D products, high disposable income levels of patients, and presence of various additive manufacturers. The regional market valuation can touch USD 689.91 million by 2023.
Europe can reach an overwhelming valuation of USD 649.91 million by 2023. Legal regulations and establishment of biobanks for cultivation of organs and tissues can create opportunities for players in the global 3D bioprinting market. Concerns of safety testing of scaffolds and customizations by patients for improving their health can deter the market growth.
On the other hand, the APAC region is touted to display the highest CAGR of 27.25% over the assessment period to reach a value of USD 507.18 million by 2023. Factors driving regional market growth include the developing healthcare sector in China and rise in funding for research and development. Investments into research and development to accelerate the pace of production of 3D printed human parts can bode well for the market.
3D Bioprinting Market Competition Outlook
Organovo Holdings Inc., Aspect Biosystems Ltd., Stratasys Ltd., Nano3D Biosciences Inc., Allevi, EnvisionTEC GmbH, FUJIFILM Wako Automation Corporation, Poietis, Cellink AB, REGENHU Ltd., Cyfuse Biomedical K.K., and Regenovo Biotechnology Co. Ltd. are major players of the global 3D bioprinting market.
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3D Bioprinting Industry News
An Italian hospital recently attained valves of a respiratory device with the help of 3D bioprinting amid the scare of the coronavirus in March 2020.
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