3D bioprinting market worth 1,332.6 million USD by 2021.
According to a new market research report published by MarketsandMarkets, the global 3D bioprinting market is expected to reach $1.3 billion by 2021, at CAGR of 26.5% from 2016 to 2021.
Key factors such as rising demand for organ transplantation, growing R&D in 3D bioprinting, increasing public and private investments in research, and rising use of 3D bioprinting in drug discovery are driving the growth of this market. However, the limitations of biomaterial-based products, lack of complete automation in 3D bioprinting, and socio-ethical concerns related to the use of 3D bioprinted products are the major challenges in this market.
By technology, the global 3D bioprinting market is segmented into four broad categories, namely, microextrusion, inkjet, laser, and magnetic 3D bioprinting. The microextrusion 3D bioprinting technology is estimated to command the largest share of the market in 2016, due to its affordability, among other factors.
On the basis of application, the market is segmented into clinical applications (including skin, bone & cartilage, and blood vessels) and research applications (including drug research, regenerative medicine, and 3D cell culture).
On the basis of procedure, the market is segmented into thoracotomy and minimally invasive surgeries. The The research applications segment holds the largest share in the 3D bioprinting market; it is projected to witness high growth during the forecast period. Increasing initiatives by market players and university scientists in the 3D bioprinting field form the major factor driving the growth of this segment.
Based on material, the 3D bioprinting market is further segmented into extracellular matrices, hydrogels, living cells, and biomaterials. The living cells segment is expected to account for the largest share of the market in 2016. Increasing R&D initiatives for the use of living cells in 3D bioprinting form one of the major factors driving the growth of the market.
As of 2016, North America holds the largest share of the global 3D bioprinting market, followed by Europe. However, the Asia-Pacificmarket is expected to grow at the highest CAGR from 2016 to 2021. A number of factors such as increase in overall and stem cell research activity, growing demand for organ transplantation, and rising initiatives by market players are propelling the growth of the Asia-Pacific 3D bioprinting market.
As of 2015, the 3D bioprinting market is dominated by Organovo Holdings Inc. (U.S.), EnvisionTEC GmbH (Germany), and Nano3D Biosciences, Inc. (U.S.). Other players in this market include Cyfuse Biomedical K.K. (Japan), BioBots (U.S.), Aspect Biosystems Ltd. (Canada), 3Dynamic Systems Ltd. (U.K.), regenHU Ltd (Switzerland), Cellink (Sweden), Regenovo Biotechnology Co., Ltd. (China), Poietis (France), and GeSiM (Germany).
(Source: PR Newswire)
Filed Under: Drug Discovery