3D Bioprinting Market - Highlights
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.
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3D Bioprinting Market – Key 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)
3D Bioprinting Market - Drivers and Restraints
Improvement in healthcare has given rise to the geriatric population consequently which has become the key factor that is expected to boost the global 3D bioprinting market. Government investment in this sector has helped it gained traction. Increasing number of organ transplantation and high prevalence of chronic diseases are expected to propel the growth rate of the market. In addition, stem cell research and cosmetic industry are now adopting this new technology giving it a much-needed momentum.
However, the lack of trained professionals and stringent government regulations may impede the average market growth rate.
3D Bioprinting Market - Segmentation
The Global 3D Bioprinting technology can be segmented by technology, material, application, and end-users.
Technology-wise segmentation includes electron beam melting, laser beam melting, droplet disposition, syringe extrusion, magnetic levitation, and others. Syringe extrusion is expected to hold the maximum share in the market. Meanwhile, magnetic levitation is estimated to grow with the fastest CAGR during the prognosis period. Magnetic levitation allows usage of cheap printing machine is making the segment more consumer-friendly. Sub-segments of laser beam melting are photopolymerization, stereo lithography, two-photon polymerization, and others. The droplet disposition can further be sub-segmented into inkjet printing, fused disposition methods, multi-phase jet solidification, and others.
Based on the material, the market is comprised of cells, hydrogels, extracellular matrices, fibrinogen, alginate, and others. Cells are the current rage in the market and hold the maximum share as researchers are structuring their research plans on these cells.
Application-based segmentation consists clinical, research, and others. The clinical segment has sub-segments, namely, tissue transplantation, bone grafts, vascular grafts, wound care, and others. The wound care segment has acute wounds, chronic wounds, hernia repair, and others. The research segment has regenerative medicine, personalized healthcare, 3D cell culture, and others. The last segment is expected to dominate the market and grow at a stellar pace as various market players and universities are funding researches to take the developments to an unprecedented level.
The end-user segment includes pharmaceutical & biotechnology companies, research organization, academic institutes, and others.
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.
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Major Table of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope of the Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
Continued….
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