The Global 3D Bio-Printing Market is expected to grow at an approximate CAGR of 25% during the forecast period.
3D bioprinting is a counterpart of bio printing. This innovative technology has proven to be highly useful in the medical field. As a result of which the over-all 3D bio-printing market is developing rapidly.
Traditional 3D printing is a very interesting procedure. It is used to create 3D entities. The object is produced with the help of a computer assisted software. After adding multiple layers of materials on the article, the final 3D product is obtained. The concept of 3D bioprinting is somewhat similar. But the process is quite different in both of these.
In biological printing, various living cells, organ particles, tissues and other specimens are utilized. Using this technology objects that are structurally identical to a tissue can be produced. This procedure can be employed to derive tissue structures in a number of formats & designs. Be it a big or a minute tissue, 3D bioprinting can manage it all.
3D bioprinting has garnered many benefits for the medical industry & will continue to do so in future. It has revolutionized many fields of medicine, health education & tissue engineering. It has even made a place for itself in new fields of healthcare like regenerative medicine.
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The global 3D bio-printing market has witnessed a lot of technological advancements over the years. One of the most noteworthy of them has been the discovery of biomaterials. Recent a new anionic polymer Alginate was discovered. It can offer a many benefits to the medical field like affordability, lower toxicity & higher biocompatibility.
Market Players & Major Strategies
Some of the long standing of this industry are REGENHU, Nano3D Biosciences, FATHOM and Aspect Biosystems Ltd. All of these players focus on investing in research and development to earn a greater revenue.
ORGANOVO HOLDINGS, INC. (U.S.), CELLINK AB (Sweden), Bio3D Technologies (Singapore), Aspect Biosystems Ltd. (Canada), Stratasys Ltd. (U.S.), Materialise (U.S.), FATHOM (U.S.), Allevi (U.S.), ENVISIONTEC, INC. (Germany), Nano3D Biosciences, Inc.(U.S.), Cyfuse Biomedical K.K. (Tokyo), 3Dynamic Systems Ltd. (U.K), REGENHU (Switzerland), Poietis (France), and others are some of the key players for the global 3D bio-printing market.
Current Market Scenario:
The global 3D bioprinting industry is anticipated to witness tremendous growth in the forecast period of 2018 – 2022. In terms of CAGR this market is estimated to move forward at the impressive rate of around 24.8%. Statistically, this industry is expected to generate the revenue of up to USD 1.5 billion.
There are a number of factors that are responsible for the expansion of this market. Higher disbursement on the health care sector & the growing need for organ transplantation are two of the major propellers. A recent study suggested that approximately 20 people lose their life waiting for a transplant every day. If this technology is adapted in a proper manner such scenarios can be avoided completely.
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Other growth drivers that foster the growth of 3D printing market include, technical innovations and increasing numbers of investors in the biotechnical and pharmaceutical sectors. Upsurge in the geriatric population ratio can be termed as an additional driver.
This market may face certain hindrances like technological setbacks while handling living cells, shortage of experienced individuals and lack of awareness amongst the masses.
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