New York, US, July 26, 2021 (GLOBE NEWSWIRE) -- 3D Bioprinting Market Overview
As per an extensive research report published by Market Research Future (MRFR), the “3D Bioprinting Market Information by Technology Material, Application, End-user, and Region - Forecast till 2028”, the market is anticipated to reach USD 4.3 Billion by 2028 at a CAGR of 15.5%.
Market Scope:
In the 3D Bioprinting Market, the widespread use of 3D bioprinting in the cosmetics sector is expected to play a vital role in defining the market's growth potential. Bioprinted devices, such as an organ-on-a-chip, can be used to study human body processes in 3D outside of the body. 3D bioprinting is also increasingly being employed in pharmaceutical progress and medication validation. It will be used in clinical situations in the future. With the progress of bioprinting, it will be able to 3D print skin and bone grafts, organ patches, and even whole replacement organs using a patient's own cells. 3D bioprinting might be a solution to global organ shortages and increased reluctance to test new cosmetics, chemicals, and pharmaceuticals on animals.
Market Drivers:
By 2028, the 3D bioprinting market is driven mainly by the rising demand for organ transplantation. Increased public and private investment in 3D bioprinting to broaden its reach are expected to promote market growth. Furthermore, the sector is predicted to develop in the forecast period, given the cost of 3D bioprinted products. The widespread usage of 3D bioprinting in the cosmetic industry is anticipated to offer several growth chances to the key players.
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Competitive Landscape:
The outstanding companies in the 3D Bioprinting Market are
- Organovo Holdings Inc. (U.S.)
- Regenovo Biotechnology Co. Ltd. (China)
- FUJIFILM Wako Automation Corporation (U.S.)
- REGENHU Ltd. (Switzerland)
- Allevi (U.S.)
- Cellink AB (Sweden)
- Cyfuse Biomedical K.K. (Japan)
- Poietis (France)
- Nano3D Biosciences Inc. (U.S.)
- Stratasys Ltd. (U.S.)
- EnvisionTEC GmbH (Germany)
- Aspect Biosystems Ltd. (Canada)
Market Restraints:
Lack of knowledge and awareness is likely to hamper market expansion during the forecast period as one of the primary factors limiting the market growth. Biosafety problems may arise because of the use of bioprinted objects within human bodies, raising questions about religious beliefs that could stymie industry expansion. In addition, the apprehensions associated with waste removal are expected to further limit the 3D bioprinting market growth.
Browse In-depth Market Research Report (163 Pages) on 3D Bioprinting: https://www.marketresearchfuture.com/reports/3d-bioprinting-market-869
COVID 19 Analysis
The market was relied upon for creative and flexible methods to address the obtainability of critical medical products in a comeback to the COVID-19 contagion. Additionally, during the COVID-19 pandemic, non-traditional manufacturers and community responders assisted in addressing medical supply constraints and gaps, resulting in millions of pieces of equipment and supplies, including masks, face shields, and other 3D-printed medical devices. Several contracts were into between government agencies and businesses to further enhance the 3D bioprinting market in the forecast period.
Market Segmentation
Based on the technologies, the microextrusion bioprinting segment is progressively being used by investigators as a substitute for scaffold fabrication.
The living cells hold a noteworthy market share based on the material segment due to their production using in-air microfluidics.
In the application segment, the clinical uses can command an elevated market call thanks to organ transplantation.
In the end-user segment, the pharmaceutical & biotechnology businesses are progressively leaning toward the skill to cater to the demands of patients.
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Regional Analysis
Growing investments in research and development and the presence of superior healthcare infrastructure are likely to propel the Americas to the top of the market. Desktop Health, a healthcare subsidiary of industrial 3D printer company Desktop Metal, has acquired the rights to a 3D bioprinting technique that may be capable of rebuilding the auditory tissues of hearing loss patients. The firm's recently acquired platform, dubbed "PhonoGraft," produces soft tissues that let the human body regenerate the "tympanic membrane," also known as the eardrum. With more R&D, the technology may also verify its usefulness within other regenerative uses, such as cardiovascular and neuronal grafts or even plastic surgery.
The need for organ transplantation is expected to increase in the near future, boosting the regional market. Due to advancements in 3D printing, the inclusion of cutting-edge technology in the healthcare sector, and a plethora of opportunities, the Asia Pacific area is expected to grow at a quick rate. Increased desire for cosmetic surgery could be a major factor in the region's growth. Furthermore, partnerships between established entities to accelerate technological growth can result in unexpected outcomes. In the Indian market, Altem Technologies has teamed with Cellink to advance life science research using 3D bioprinting. Altem plans to create a strong bioprinting footprint in the field of medical research and life science applications as a result of this agreement, the businesses stated in a joint statement. Cellink's agreement with Altem will allow it to grow its footprint in the Indian market by giving bioprinting expertise to researchers so they can conduct in-vitro investigations and shorten medication and treatment development times, according to the firm.
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