The global 3D Bioprinting market is accounted for more than US$ 650 Mn in the year 2019
Meridian Market Consultants (MMC) has published a new report titled, “2020-2025 Global and Regional 3D Bioprinting Industry Production, Sales and Consumption Status and Prospects Professional Market Research Report (Enhanced Version)”
Global 3D bioprinting market, By Type (Magnetic 3D Bioprinting, Laser-assisted Bioprinting, Inkjet 3D Bioprinting, Microextrusion 3D Bioprinting), By Application (Clinical Applications, Research Applications, Drug and Medical Research, Regenerative Medicine, 3D Cell Culture), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2025.
In 2019, the global 3D bioprinting market is accounted for more than US$ 650 Mn and expected to grow at a CAGR of 18.8% during the forecast period and expected to reach the value of US$ XXX Bn at the end of the year 2025.
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As per the report, the healthcare industry is witnessing an evolution over the last decade and a rise in technological advancements along with that it is majorly driving the growth of the global 3D bioprinting market. Notably, there have been numerous innovations in 3D printing in several industries such as manufacturing, education, medical, and engineering, and many more across the world.
The 3D bioprinting market has made significant progress in the recent few years in consequence of the manufacturing of biomaterials such as cells, components, etc. in three dimensions when it is considered as a new and unexplored field. Basically, 3D bioprinting is the process of generating the tissue-like structures with the help of a set of techniques that transfer biologically essential material onto a substrate with computer-aided, specialized 3D printers.
3D Bioprinting is contemplated as a forward-looking technology that is projected to ultimately make medical care more effective, faster, and more personalized, owing to which the global 3D bioprinting market is expected to grow positively in the near future over the forecast period.
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Moreover, bioprinting assists in eliminating the need for organ donors as organs and tissue patches from a patient’s own cells reduces the chance of rejection. Thus, the limited count of organ donors across the globe has also led the way to the rapid growth of the global 3D bioprinting market In addition to that, a progressively maturing population having chronic respiratory diseases is continuously contributing to the growth of the global 3D bioprinting market.
Additionally, the global epidemic triggered due to coronavirus has seized over the overall world, resulting in fatigue and overburdened healthcare systems. Hence, in response to the ever-increasing incidence of coronavirus patients, globally, various bioprinting communities are reciprocating to the global crises by providing their positive support in order to lessen the burden on governments and supply chains, hence advancing the growth of the global 3D bioprinting market to next level.
Furthermore, the high throughput models of tissue, which extensively promote its utility in drug research and discovery processes, is observing a huge demand, owing to which the growth of the global 3D bioprinting market is expected to propel during the forecast period. Likewise, an enhanced drug screening method is also contributing to the climbing growth curve of the global 3D bioprinting market in a positive manner.
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MMC Study identifies some of the key participating players in the 3D Bioprinting Market globally 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, Exone, Stratasys, Bespoke Innovations, Advanced BioMatrix, among others.
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