New Jersey, NJ, Aug. 26, 2019 (GLOBE NEWSWIRE) -- Growing application of 3D printing in the drug discovery, and rise in public and private investment on the research and development activities are driving the market. The global 3D bioprinting market is expected to grow from USD 834.21 Million in 2017 to USD 4,320.36 Million by 2025, at a CAGR of 22.82% during the forecast period from 2018-2025, according to the new report published by Fior Markets.
3D bioprinting is the biomedical parts manufacturing process that combines cells, growth factors, and biomaterials to create tissue-like structures that imitate natural tissues. 3D bioprinting technology uses a material known as bio-ink to create these structures in a layer-by-layer manner. It is being wide ragingly used in the bioengineering and medical applications such as the production of cartilage tissue for use in reconstruction surgeries.
Factors such as growth in public and private funding for 3D bioprinting research and increasing demand for the organ transplantation are driving the global 3D bioprinting market. On the other hand stringent regulations pertaining 3D bioprinting and paucity of trained professional are anticipated to dampen the market growth.
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Key players in the global 3D bioprinting market are Organovo Holdings Inc., EnvisionTEC GmbH, Nano3D Biosciences, Inc., Cyfuse Biomedical K.K., BioBots, Aspect Biosystems Ltd., 3Dynamic Systems Ltd., regenHU Ltd, Cellink, Regenovo Biotechnology Co., Ltd, Poietis, GeSiM, Luxexcel Group B.V., TeVido BioDevices, LLC, Stratasys Ltd, Voxeljet A.G., Materialise N.V. Solidscape, Inc., and among others. Key players active in the market are involved in collaborative agreements and expansion to bolster the growth of the market.
- For instance, Poietis in 2018, announced the launch of NGB 4D bioprinting platform to meet the development and production needs of human biological tissue.Iinspired by the principles of the 4.0 Industry, this new platform integrates automation and robotics technologies, coupled with numerous online sensors including cell microscopy and Artificial Intelligence processing.
- In 2018, Russia launched its Organ.Aut 3D bioprinter into the outer space. The zero-gravity environment in space enables the printed organs and tissues to mature at faster rates thus, making it a favorable environment compared to Earth for 3D bioprinting.
- In 2017, The University of Texas at San Antonio Biomedical Engineering program acquired EnvisionTEC’s world-leading 3D-Bioplotter for tissue engineering and biofabrication research. Teja Guda’s biomedical engineering lab at University of Texas at San Antonio started off testing the printer with silicone, and has moved into printing grafts for bones, skeletal muscle, pancreas tissue and more.
- For instance, Cyfuse Biomedical announced that it has signed an agreement with Sysmex Corporation that they have entered into a sales alliance agreement regarding S-PIKE®, a Bio 3D printer that Cyfuse has developed and commercialized with a new technology method. Cyfuse is pleased to announce the release of new Bio 3D printer to the market together with Sysmex.
Microextrusion 3D bioprinting segment had a market value of USD 353.53 million in 2017
Technology segment is divided into microextrusion, inkjet, laser and magnetic 3D bioprinting. On account of being cost effective fabrication process microextrusion 3D bioprinting segment emerged as the leader in the global 3D bioprinting market with USD 353.53 million revenue in 2017. Inkjet 3D bioprinting segment is also expected to attain a significant market share owing to its compatibility with living cells. Owing to its enhanced speed and precision the magnetic 3D bioprinting segment is projected to grow at the highest CAGR of 24.78% over the forecast period.
Hydrogels segment is anticipated to grow at a CAGR of 24.16% in 2018-2025
Material is segmented into extracellular matrices, hydrogels, living cells, and others. Increasing utilization of living cells in repairing the damaged tissues coupled with their compatibility with biomaterials to repair the damaged microstructures were the factors that led living cells segment to dominate the global 3D bioprinting market with USD 297.89 million revenue in 2017.
Research application segment had a market value of USD 563.84 million in 2017
Application segment is categorized into clinical application and research applications. Factors such as increased financial support from private and public entities for the 3D bioprinting research and development activities propelled research application segment to emerge as the leader with USD 564.84 million revenue in 2017. Research segment is further divided into drug research, regenerative medicine, and 3D cell culture. Clinical application segment is subdivided into skin, bone & cartilage, and blood vessels.
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Regional Segment Analysis of the 3D Bioprinting Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
Presence of well-established research institutions and sophisticated healthcare facilities as well as rising adoption of new techniques were the factors that led North America region to lead the global 3D bioprinting market with USD 347.28 million revenue in 2017.
About the report:
The global 3D Bioprinting market is analysed on the basis of value (USD Million) and volume (Thousand units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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