Global Functional 3D Printed Tissue Market – Insights
3D printing technology can be used to print artificial organs that can be used for transplant. 3D bioprinting is used for transplantation of several tissues such as vascular grafts, tracheal splints, and heart tissue.
Global Functional 3D Printed Tissue Market: Drivers
Increasing demand for organ transplant and scarcity of donors is expected to boost growth of the global functional 3D printed tissue market over the forecast period. For instance, according to the U.S. National Kidney Foundation, around 121 thousand people are waiting for organ transplants, of which 80% are kidney transplant seekers. Over 650 thousand organ transplants were recorded in the U.S. in the last 28 years. However, the demand for organ transplant is more than supply as only 2% of cases are met with organ transplants.
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Major institutes are focused on collaborating with leading medical device companies for R&D in lab-grown tissues. Some of these institutes include Wake Forest Institute for Regenerative Medicine and Harvard University. Moreover, increasing healthcare expenditure is also expected to boost growth of the global functional 3D printed tissue market.
Global Functional 3D Printed Tissue Market: Taxonomy
The global functional 3D printed tissue market is segmented into:
- By Technology
- By Application
- By Region
Global Functional 3D Printed Tissue Market: Restraints
High costs associated with R&D in functional 3D printed tissues and regulatory scenario is expected to hinder growth of the global functional 3D printed tissue market. Functional 3D printed tissue technology is expected to require at least 7 years to fully commercialize, which may lead to high operating cost. This can be overcome by funding from government and private organizations.
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Global Functional 3D Printed Tissue Market: Segment Analysis
On the basis of application, the global functional 3D printed tissue market is segmented into organ transplants, dental, and biosensors. The organ transplant segment is expected to hold dominant position in the market and is expected to account for a share of over 65% by the end of the forecast period.
Global Functional 3D Printed Tissue Market: Regional Analysis
On the basis of region, the global functional 3D printed tissue market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to hold dominant position in the global functional 3D printed tissue market over the forecast period, owing to increasing investment in R&D in functional 3D printed tissues and presence of major market players in the region. Moreover, increasing number of organ transplant surgeries and high healthcare expenditure is also expected to boost growth of the market in North America. For instance, healthcare spending is highest in North America and accounted for 16.7% of the GDP in 2015.
Europe is also expected to witness significant growth in the market due to high expenditure in the healthcare sector. For instance, healthcare spending in Europe accounted for 10% of the GDP in 2015.
Increasing demand for organ transplant is expected to boost growth of the market in Asia Pacific. For instance, according to Organdonor, donation rate in Australia is nearly 17 per million population. Moreover, increasing R&D in 3D bioprinting is also expected to boost growth of the market in Asia Pacific. For instance, Griffith University’s Menzies Institute, in collaboration with National Health and Medical Research Council, is focused on developing 3D printed tissues and bones. Various governments in the region are focused on investment in bioprinting technology. For instance, the Australian government invested US$ 2.7 Mn in establishing bioprinting center. Market in the region is expected to commercialize in next 15 years.
Global Functional 3D Printed Tissue Market: Competition Landscape
Major players operating in the global functional 3D printed tissue market include, Cyfuse Biomedical, 3Dynamics Systems, Aspect Biosystems, BioBots TeVido, Organovo, Luxexcel Group, Stratasys, and EnvisionTEC.
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Global Functional 3D Printed Tissue Market: Key Developments
Major players in the market are focused on raising funds to expand their product portfolio. For instance, in July 2019, U.S.-based biotechnology company, Prellis Biologics raised US$ 8.7 million to advance its holographic 3D bioprinting platform.
Major institutes are also focused on R&D of 3D printing of tissues. For instance, in August, researchers from Laboratory of Applied Photonics Devices (LAPD), in EPFL’s School of Engineering, in collaboration with Utrecht University, reported development of a technique called volumetric bioprinting to produce complex tissue forms in hydrogels, which are loaded with stem cells to generate growth of blood vessels in the resulting tissue mass.
Similarly, in April 2019, researchers from Indian Institute of Technology Hyderabad, India used discarded eel skins to fabricate 3D scaffolds for tissue engineering application.
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