Spritam (levetiracetam) is the first treatment with 3D bioprinting that gained FDA approval and was developed by Aprecia Pharmaceutical, a specialty pharmaceutical company. Healthcare professionals are markedly exploring 3D bioprinting as it helps in reducing the risks related to anesthesia during extensive surgeries. Restrictions of the biomaterial-based products and lack of thorough automation in the 3D bioprinting, are factors probable in creating challenges for the healthcare industry, which in turn impacts 3D bioprinting market as well.
Rising Number of Investments for Research Purposes to Result in Development of Innovative Products with 3D Bioprinting
Growing use of 3D printing software for cosmetic surgery and drug testing with rapidly increasing demand for 3D bio-printed organs is expected to trend in 3D bioprinting market. Pharmaceutical manufacturing units are likely to increase the use of 3D bioprinting for reducing the overall drug production cost. Rising number of chronic illnesses has been resulting in growing need for organ and tissue implants, thereby driving sales value of 3D bioprinting market. Dearth of organ donors and growing integration of IT in healthcare industry further stimulates growth of 3D bioprinting market.
Need for reduction in healing period, trauma, time and surgery cost, beneficial for both surgeon and patient further drives demand for 3D bioprinting. Burgeoning need for printing bone and dental implants, prosthetics and medical instruments is anticipated to offer lucrative revenue growth opportunities to 3D bioprinting market. Increasing number of research institutes and universities studying prospects of the bio-printed organs, implants as well as tissue reconstructions are expected to positively impact on the growth of 3D bioprinting market. For example, Scotland’s Heriot-Watt University developed a 3D bio-printer, which has the capability of printing the pluripotent stem cell principles, which helps for drug testing purposes.
North America Continue to Remain the Most Lucrative Market for 3D Bioprinting
North America 3D bioprinting market is expected to witness substantial growth with extensive presence of high geriatric and chronically-ill population with upgraded healthcare infrastructure. Extensive research activities taken out in North America leads to vital growth of North America 3D bioprinting market. North California’s Wake Forest University presented their research at AHASS (American Heart Association Scientific Sessions) for the development of customized treatment. The pills are to be designed based on biological profile of the patient that is inclusive of race, gender, weight, and organ function capacity. 3D bioprinting market in U.S. is expected to witness significant growth owing to rising number of R&D for tissue fabrication and engineering purposes.
Asia-Pacific 3D bioprinting market is likely to witness notable growth with pioneering presence in healthcare IT development and rapid adoption of the technological innovations. In addition, rising foreign investments for research purposes with supportive government initiatives has been propelling supply of 3D bioprinting in Asia-Pacific.
M&A to Be the Go-to Strategy of 3D Bioprinting Market Players
Manufacturers in 3D bioprinting market are focusing on making heavy investments in R&D for introducing 3D bioprinting products with better stability and increased efficiency. For instance, 3D bioprinting utilizing graphene has increased level of strength in comparison to the plastic ones, resulting in comfortable and durable prosthetics. Market participants are taking immense efforts in forming tie-ups with the universities and research institutes that are working on organ regeneration and grafting technologies.
Market players are planning on scheduling several seminars and exhibitions for raising awareness with regards to the industry. For instance, Organovo Holding Inc. has declared about a collaboration with skin and hair care L’Oréal for developing skin tissues by means of NovoGen Bioprinting Platform. Cosmetic industry vendors are planning to make heavy investments in R&D for the purpose of 3D bioprinting skin with surging demand from hospitals and clinics for generating skin.
- Materialise NV: The prominent 3D bioprinting company is seeing total revenue growth of over 40% that is supported by its strong performance in Materialise Software and Materialise Medical sector growth. In addition, constantly notable contribution from its ACTech business within the company’s Materialise Manufacturing segment is driving the expansion and development of Materialise NV. Further, the company has plans to make innovations for advancing their digital manufacturing process and will be showcasing several innovative products in the upcoming events. This in turn drives opportunities for the company’s 3D bioprinting product portfolio expansion, thereby resulting in impressive market growth.
- 3D Systems: The prominent 3D bioprinting company recently announced that ACS Custom has been working towards transforming the manufacturing workflow of 3D Systems by integrating two 3D printers of Figure 4™ Standalone. This improved workflow has helped ACS in concluding on 4X capacity increase and 2X efficiency growth, thereby decreasing material consumption by nearly 50% as well as labor cost by approximately 80%. Expertise of the 3D Systems Company has significantly benefitted in transforming workflow of the company to a completely new level, thereby positively impacting on its 3D bioprinting product portfolio.
- Stratasys Ltd.: The prominent 3D bioprinting company is planning to bring about innovations in the market for driving long-term and incremental opportunities by making heavy investments in developing new materials and products in their PolyJet and FDM technologies, which are the new and innovative metal additive engineering platform as well as advanced composite materials. For attaining substantial bottom-line growth, the company is also planning to work on its 3D bioprinting innovations, thereby driving consumer attention.
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