Rise in technological advancements for manufacturing customized products is the major factor influencing market growth.
Market Size – USD 0.68 billion in 2018, Market Growth – CAGR of 26.2%, Market Trends –Rise in focus for R&D investments
NEW YORK, May 02, 2019 (GLOBE NEWSWIRE) — The 3D Bioprinting Market is expected to reach USD 4.40 Billion by 2026, according to a new report by Reports and Data. This can be mainly associated with factors such as the rise in geriatric population, technological improvements for manufacturing customized Material Types, and growth in focus on R&D investment. Also, the increase in usage of 3D printing in cosmetic surgeries is anticipated to increase the market growth during the forecast period further. Moreover, the massive gap between the demand and supply of organ transplants implies a large requirement among the patients, the emerging 3D bioprinting technologies and doctors has a substantial potential in filling this gap. Although these factors increase the growth of the market, the shortage of skilled professionals to operate the technologically advanced 3D bioprinters can pose a notable hindrance for the growth of the market. Conversely, an improvement in stem cell research and an increase in awareness related to 3D bioprinting are anticipated to offer lucrative opportunities for the market players.
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The main application of 3D printers is for medical purposes. This technique includes 3D printing of biological tissues and organs through the layering of living cells. The method of this printing mainly constitutes of three stages, specifically, pre-bioprinting, bioprinting, and post-bioprinting. During the process, the cell purpose and viability of the output construct is preserved, which is used for R&D in several therapeutic areas. It is mainly used for developing tissue and organ constructs, which can be used for scaffolds, R&D of drugs, and development of medical implants.
North America accounts for the largest share of 22.30% of the market in 2018, owing to rising government initiatives, increasing demand for organ transplants, and growing awareness due to conferences and trade shows.
Further key findings from the report suggest
- The growing number of 3D bioprinting-related conferences, increasing application and a large number of research activities, in the cosmetic business are some of the key factors stimulating the growth of the European market.
- Organ transplantation is one of the critical factors that are profoundly influencing the market globally. With the method of using bio-ink composed of human cells and tissues, the market has developed over the years.
- The purpose of developing function organs like kidneys, ears, and livers is progressively becoming a reality.
- The living cells segment is expected to grow at a CAGR of 26.2% during the forecast period.
- Growing R&D initiatives for the use of living cells in the process for 3D printing is one of the major factors encouraging the growth of the market.
- The hydrogels segment is estimated to reach USD 1.40 billion by 2026.
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- The research applications sector is estimated to reach USD 1.74 billion by 2026.
- Rising initiatives by market players and university scientists are the primary factor contributing to the increase of the research applications segment.
- The market is notably competitive and consists of various major players. In terms of market share, some of the major players dominate the market currently. These major players with a notable share in the market are centering on increasing their customer base across foreign countries.
- These companies are leveraging on imperative collaborative actions to improve their market share and expand their profitability.
- 3D Systems introduced NextDent 5100, in February 2018, it is a Figure 4-based 3D bioprinter created for dental labs. It is used for the generation of dental appliances.
- Moreover, in December 2018, Aspect Biosystems collaborated with the Institute for Technology-Inspired Regenerative Medicine (MERLN) at Maastricht University in the Netherlands.
- Key participants include Allevi, Regenovo Biotechnology Co. Ltd., Nano3D Biosciences Inc., Poietis, Organovo Holdings Inc., FUJIFILM Wako Automation Corporation, Cellink AB, REGENHU Ltd., EnvisionTEC GmbH, Stratasys Ltd., Cyfuse Biomedical K.K., Aspect Biosystems Ltd.
Segments covered in the report:
For the purpose of this study, Reports and Data have segmented the global 3D Bioprinting Market on the basis of Material Type, Technology, Application, End User, Component and region:
Material Type Outlook (Revenue, USD Million; 2016-2026)
- Living Cells
- Extracellular Matrices
Technology Outlook (Revenue, USD Million; 2016-2026)
- Microextrusion Bioprinting
- Inkjet Bioprinting
- Magnetic Levitation Bioprinting
- Laser-Assisted Bioprinting
- Other Technologies
Application Outlook (Revenue, USD Million; 2016-2026)
- Drug Testing and Development
- Regenerative Medicine
- Food Testing
End User Outlook (Revenue, USD Million; 2016-2026)
- Pharmaceutical & Biotechnology Companies
- Research Organizations
- Academic Institutes
Component Outlook (Revenue, USD Million; 2016-2026)
- 3D Bioprinters
Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2026)
- North America
- Asia Pacific
- Latin America
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