Global 3D bioprinting market is expected to reach USD 1.82 billion by 2022, according to a new report by Grand View Research Inc. Rising prevalence of chronic diseases such as Chronic Kidney Disease (CKD) which demands kidney transplantation is expected to boost the market growth, as 3D bioprinting is convenient and cost effective substitute for organ transplantation.
Emerging medical applications of 3D bioprinting such as toxicity testing, drug discovery, tissue engineering and consumer product testing are expected to further drive the market growth positively. Increasing R&D expenditure is anticipated to be high impact rendering driver for the industry. 3D bioprinting advances in tissue engineering and allows developments to be done using biomaterials which have better biocompatibility. Moreover, rising geriatric population is expected to assist the market growth, as this demographic is highly susceptible to age related organ deformities.
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Further key findings from the study suggest:
- Syringe based printers dominated the technology segment as these printers allow working in sterile environment. Moreover, syringe based printers have wide applications which include fabrication of scaffolds, cell strips printing, and tissue printing.
- Magnetic levitation based printers are expected to witness lucrative growth over the forecast period. This can be attributed to emerging medical applications such as screening of cardiovascular toxicity, human cell modeling and smooth muscle printing.
- The medical applications segment is expected to gain substantial share of over 32.0% by 2022 which can be attributed to emerging applications of 3D bioprinting such as toxicity screening, organ transplants and medical pills.
- Dental application segment is expected to witness lucrative growth over the forecast period. Rising demand for cosmetic dentistry along with growing awareness about oral hygiene are expected to foster the demand for dental applications.
- North America dominated the regional 3D bioprinting market with over 35.0% share and is expected to grow at a CAGR of 10.0%. Supportive government initiatives to improve healthcare infrastructure coupled with growing disposable income are vital driving factor for this region’s growth.
- Asia Pacific is expected to witness lucrative growth over the forecast period. Favorable government support to improve healthcare delivery with economic developments in emerging countries such as India and China are expected to increase the demand for 3D bioprinting.
- Key players operating in the 3D bioprinting industry include Organovo Holding Inc., Cyfuse Biomedical, BioBots, Luxexcel Group BV, TeVido BioDevices, Aspect Biosystems, 3Dynamics Systems, Stratasys Ltd., Voxeljet, Oceanz, Materialise NV, Envision TEC, Bio3D Technologies, Solidscape and others.
- These players are involved in various strategic initiatives such as new product launches, strategic alliances and mergers and acquisitions to gain the edge over the competitors. For instance, In June 2015, Orgonovo collaborated with L’Oreal to develop skin tissue using NovoGen Bioprinting platform.
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About Grand View Research:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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