3D bio-printing is a leading-edge printing technology, involving the fusion of 3D printing and biotechnology. In 3D bio-printing, various postulates of 3D printing are implicated by using cells and growth factors, as bio-ink. Organ transplant, cosmetic surgery, bone tissue regeneration etc. are some of the major application areas of 3D bio-printing technology.
Increasing R&D for the 3D bio-printing manufacturing technology, growing market penetration of major market players, advantages associated with the technology, and growing biotechnology market are some of the major factors that drive the market growth of 3D bioprinting.
Increased R&D support by the major players of this market is playing the leading role in driving the global market. A Forbes report shows that 70% of respondents of their study have increased their investment in 3D printing in 2017 from 49% in 2016. However, high cost of the technology and lack of skilled labour is restraining the market growth.
Owing to these factors our study shows that Global 3D bio-printing market is estimated to hold an approximate value of ~USD 600 million in 2018. And is expected to grow at a GAGR of 19.4% till 2025.
Contemporary Key developments:
ExVive: a 3D printed human liver tissue model:
ExVive is one of the latest innovations by Organovo. ExVive 3D bio printed Liver model is used to provide predictive liver tissue-specific toxicity marker assessment; this method is an alternative to preclinical animal testing and is a far more efficient and agile method of pharmaceutical ingredients testing. The capability better of toxicity marker assessment will increase the demand of 3D printed human liver tissue in Pharmaceutical industry. Which in turn will give rise to an industrial symbiosis between pharmaceutical and 3d bioprinting industry enhancing growth of both industry in future.
3D printed Hydrogel for cardiac repair:
Researchers from the University of Texas Arlington came up with a visionary invention. They developed an elastic and biodegradable hydrogel that facilitate cardiac repair after a heart attack. Statistics from CDC shows that 1 in every 4 deaths in the United States is from heart disease. The Hydrogel can be used as a treatment for heart disease in the future and the healing ability of this 3D printed Hydrogel can revolutionize the future of 3D bioprinting market.
Global 3D bioprinting market can be segmented on the basis of manufacturing technology application, and geographical region. The manufacturing technology is categorised into syringe-based 3D bioprinting, inkjet-based 3D bioprinting, magnetic levitation, laser-based 3D bioprinting etc. In terms of application they are sub-segmented as cosmetic surgery, artificial organ generation, 3D printed tooth, biosensors, consumer/personal product testing, tissue repair etc.
As per geographical area of production and consumption global 3D bioprinting market can be divided into North America with countries as the USA, Canada, and Mexico. Europe consisting of countries as France, Germany, Italy, UK, Spain etc. The Asia Pacific which is formed of Japan, China, India, Australia, and South Korea. Countries such as Brazil and South Africa accounts for Rest of World.
Dominant region and Fastest growing region:
In 1999 North America pioneered the 3D printing industry and since then it is holding a dominant position in the global market. They are followed by Europe and together North America and Europe hold more than half of the global 3D bioprinting market.
On the other hand, the Asia Pacific region is showing the fastest growth rate in the global 3D printing market due to its booming economy and cheap labour.
3D bioprinting is an emerging industry with market players trying to compete with each other and expand their geographical reach. Some of the major players in the global 3D bioprinting market are Aspect Biosystems Ltd, GeSiM, Ourobotics, EnvisionTEC, CELLINK, Organovo, Cyfuse Biomedical, Poiesis SAS, BioBots, 3Dynamic Systems, Regenovo Biotechnology Co., Ltd., Rainbow Biosciences, Stratasys Ltd, and others.
Check Our Research Report for Reference: