3D Bioprinting Market Size, Analysis, Growth and Demand Forecast to 2022
The global 3D bioprinting market was valued at $98.6 million in 2015, and it is expected to grow at a CAGR of 35.9% during 2016 - 2022. The growth of the global market is largely driven by increasing large demand of tissues and organs for transplantation and the innovations and advancements in technology for 3D bioprinting. A large number of people across the globe are waiting for organ or tissue transplant, due to the huge gap in demand for organs transplant and donors. This has created huge traction in the 3D printing industry for developing live tissues and organs. Different companies along with academic institutes and laboratories are investing huge capital for 3D bioprinting research and development. Some of the other factors driving the growth of the global market include increasing research and development activities and increasing compliance for 3D bioprinting in drug discovery processes. Growing stem cell research and increasing adoption of 3D bioprinting in cosmetic industry are expected to create ample growth opportunities for the global market. However, the high cost of 3D bioprinting, lack of skilled professionals and stringent regulatory processes are the key barriers for the growth of the global market.
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Among the 3D bioprinting technologies, the pneumatic extrusion based 3D bioprinting would witness the fastest growth during the forecast period. Increasing adoption of pneumatic extrusion based 3D bioprinting in the industry and its high resolution are the major factors driving the growth of the pneumatic extrusion based 3D bioprinting market. Syringe based 3D bioprinting contributed the largest revenue in the global market in 2015. The technology along with pneumatic extrusion based technology accounted for over 60% share in the global market in 2015.
North America accounted for the largest share in the global market in 2015, owing to the technological advancements and innovations, and increasing research and development activities. The U.S. contributed largest revenue to the North American as well as global 3D bioprinting market. The country is expected to remain the largest market for 3D bioprinting globally during the forecast period. The huge capital investments along with the significant development in 3D bioprinting are the key driving factors of the U.S. 3D bioprinting market.
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Some of the players operating in the global market include Organovo Holdings, Inc., CELLINK, EnvisionTEC, BioBots, Cyfuse Biomedical K.K., Aspect Biosystems Ltd., 3D Bioprinting Solutions, Ourobotics, Advanced Solutions, Inc., GeSiM, Bio3D Technologies, 3Dynamic Systems Ltd., Nano3D Biosciences, Inc., Poietis, regenHU Ltd., and Aerotech Inc.
