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The global 3D bioprinting market is expected register a CAGR of 22.35% during the forecast period (2018 - 2023). 3D printer manufacturing companies are working toward building a human tissue for surgical therapy and transplantation. Developments such as this are expected to propel the market for global 3D bioprinting, which is expected to witness a significant growth, owing to technological advancements, government intervention for improving healthcare, and increasing investments in R&D. Global players are increasingly exploring 3D bioprinting as it reduces the risks associated with anesthesia during long surgeries and helps improve healthcare services.
INCREASING PERCENTAGE OF GERIATRIC POPULATION
The percentage of aged population (>65 years) is increasing gradually. It is a strong indicator for the growth of the 3D bioprinter market, as elderly population is more prone toward organ related ailments. Japan has the highest percentage of geriatric population in the world. The market for 3D bioprinters, which is designed for dentistry applications, is expected to witness a good growth rate, more so due to the rising geriatric population. These 3D bioprinters can be used by dentists to create friendlier implants and prosthetics by utilizing the patient’s unique teeth layout and bone scans. Trailing Japan, countries in the western hemisphere have a high percentage of aged population, which is rising continuously, driving the demand for 3D bioprinters.
DRUG DISCOVERY RESEARCH TO GAIN TRACTION OVER THE FORECAST PERIOD
Drug discovery is a highly expensive process, and in most cases, it fails in gaining regulatory clearance. One of the major expenses for a pharmaceutical company in the United States is the completion of FDA’s approval process. Over USD 50 billion is being spent on R&D in the country, annually. Interestingly, only one in 5000 drugs makes it to the market, leading to huge financial burden on drug manufacturing companies. The reason for this failure is the lack of accurate pre-clinical testing methods. The drug, which passed the in-vitro and animal testing stages, stands a high chance of failing in clinical trials, forcing manufacturers to start from the beginning. Medical researchers in order to make the drug discovery process more reliable are seeking means to mimic the 3-dimensional human tissue environment. With the advent of 3D bioprinting, manufacturers will be able to reduce complications associated with human clinical trials of novel drugs, reducing the losses incurred during late stage failures and shortening the drug discovery time, thus, driving the market for this technology.
UNITED STATES TO HOLD MAJOR SHARE IN NORTH AMERICA
Despite advances in medicine and technology, increased awareness about organ donation and transplantation, the gap between supply and demand continues to widen in the country. The number of people on the national waiting list continue to grow, while rates of donation and transplant stagnate. Currently, there are about 122,480 people in the waiting list in need of a lifesaving transplant, whereas, only 20,704 transplants were performed in 2016. It is estimated that on an average 22 people die each day while waiting for a transplant. 3D bioprinting is observed as the most promising solution to meet high demand for suitable organs for transplantation, driving the growth of the market in the region. In addition, the cost of organ transplantation is very high. The estimated average cost for heart, liver, and kidney transplants, are about USD 997,000, USD 577,000, and USD 262,000, respectively. Researchers are focusing on 3D bioprinting, which is seen as a viable alternative, which will help in driving the market.
Major Key Players: 3D Systems, Aspect Biosystems, Gesim, Bio3d, Organovo Holdings Inc.
KEY DEVELOPMENTS IN THE STUDY
• January 2018: BASF and CTI biotech have developed functional skin gland models with 3D printing. The research involved the use of 3D human sebaceous gland modeling by CTI Biotech. This regenerative medicine R&D company specializes in studies of skin cosmetics, stem-cells and cancer, having recently installed a CELLINK BIO X 3D printer to develop treatments for the latter.
• January 2018: Swedish biotech company, Cellink, has begun fabricating tumors in an effort to combat cancer. The company, which became known in 2016, has risen to fame as a result of its biological ink, designed to be used by a variety of 3D printers to create different types of cell tissues.
Reasons to Purchase this Report
• To know - how the market scenario of 3D bioprinting is changing
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• To know which security technology, services, and vertical are expected to dominate the market
• The regions that are expected to witness fastest growth during the forecast period
• Identify the latest developments, market shares, and strategies employed by the major market players
• Three months of analyst support, along with the Market Estimate sheet (in excel)
Customization of the Report
• This report can be customized to meet your requirements.
INCREASING PERCENTAGE OF GERIATRIC POPULATION
The percentage of aged population (>65 years) is increasing gradually. It is a strong indicator for the growth of the 3D bioprinter market, as elderly population is more prone toward organ related ailments. Japan has the highest percentage of geriatric population in the world. The market for 3D bioprinters, which is designed for dentistry applications, is expected to witness a good growth rate, more so due to the rising geriatric population. These 3D bioprinters can be used by dentists to create friendlier implants and prosthetics by utilizing the patient’s unique teeth layout and bone scans. Trailing Japan, countries in the western hemisphere have a high percentage of aged population, which is rising continuously, driving the demand for 3D bioprinters.
DRUG DISCOVERY RESEARCH TO GAIN TRACTION OVER THE FORECAST PERIOD
Drug discovery is a highly expensive process, and in most cases, it fails in gaining regulatory clearance. One of the major expenses for a pharmaceutical company in the United States is the completion of FDA’s approval process. Over USD 50 billion is being spent on R&D in the country, annually. Interestingly, only one in 5000 drugs makes it to the market, leading to huge financial burden on drug manufacturing companies. The reason for this failure is the lack of accurate pre-clinical testing methods. The drug, which passed the in-vitro and animal testing stages, stands a high chance of failing in clinical trials, forcing manufacturers to start from the beginning. Medical researchers in order to make the drug discovery process more reliable are seeking means to mimic the 3-dimensional human tissue environment. With the advent of 3D bioprinting, manufacturers will be able to reduce complications associated with human clinical trials of novel drugs, reducing the losses incurred during late stage failures and shortening the drug discovery time, thus, driving the market for this technology.
UNITED STATES TO HOLD MAJOR SHARE IN NORTH AMERICA
Despite advances in medicine and technology, increased awareness about organ donation and transplantation, the gap between supply and demand continues to widen in the country. The number of people on the national waiting list continue to grow, while rates of donation and transplant stagnate. Currently, there are about 122,480 people in the waiting list in need of a lifesaving transplant, whereas, only 20,704 transplants were performed in 2016. It is estimated that on an average 22 people die each day while waiting for a transplant. 3D bioprinting is observed as the most promising solution to meet high demand for suitable organs for transplantation, driving the growth of the market in the region. In addition, the cost of organ transplantation is very high. The estimated average cost for heart, liver, and kidney transplants, are about USD 997,000, USD 577,000, and USD 262,000, respectively. Researchers are focusing on 3D bioprinting, which is seen as a viable alternative, which will help in driving the market.
Major Key Players: 3D Systems, Aspect Biosystems, Gesim, Bio3d, Organovo Holdings Inc.
KEY DEVELOPMENTS IN THE STUDY
• January 2018: BASF and CTI biotech have developed functional skin gland models with 3D printing. The research involved the use of 3D human sebaceous gland modeling by CTI Biotech. This regenerative medicine R&D company specializes in studies of skin cosmetics, stem-cells and cancer, having recently installed a CELLINK BIO X 3D printer to develop treatments for the latter.
• January 2018: Swedish biotech company, Cellink, has begun fabricating tumors in an effort to combat cancer. The company, which became known in 2016, has risen to fame as a result of its biological ink, designed to be used by a variety of 3D printers to create different types of cell tissues.
Reasons to Purchase this Report
• To know - how the market scenario of 3D bioprinting is changing
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• To know which security technology, services, and vertical are expected to dominate the market
• The regions that are expected to witness fastest growth during the forecast period
• Identify the latest developments, market shares, and strategies employed by the major market players
• Three months of analyst support, along with the Market Estimate sheet (in excel)
Customization of the Report
• This report can be customized to meet your requirements.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
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