3D Bioprinting Market - Global Forecasts to 2023: Growing Government Support is Also Attracting Many Investors to Invest in R&D Programs
DUBLIN, April 24, 2019 /PRNewswire/ -- The "3D Bioprinting Market - Growth, Trends and Forecasts (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The Global 3D Bioprinting Market was valued at USD 385.56 million in 2018 and is expected to register a CAGR of 25.36% during the forecast period (2019-2024).
The global 3D bioprinting market is expected to grow, owing to its revolutionary breakthrough in healthcare and pharmaceutical industries. The increasing technological advancements, government intervention for improving healthcare, and increasing investments in R&D are also significant factors driving the studied market growth.
The primarily growing bioprinting applications include 3D bioprinted tissue and hair follicles, as they are very beneficial to cosmetics companies, especially in Europe, where animal testing for cosmetics was banned in 2013. For a cosmetic company, the advantage will be the ability to economically and ethically test products (i.e., not on animals) across varying skin types, for more accurate results.
Growing government support is also attracting many investors to invest in R&D programs, which is expected to develop space for the studied market. In 2018, Mapp Biopharmaceutical Inc. announced that it had been awarded a contract of USD14.8 million, with options for an additional USD 32.0 million, by the Biomedical Advanced Research and Development Authority (BARDA).
Further, a significant increase in the number of older adults is projected in the coming decades, which is expected to drive the need for 3D bioprinting reflecting the growth of the market.
Scope of the Report
3D bioprinting is an emerging field represented by various biologically applied deposition and assembling systems, which include direct writing, photolithography, microstamping, extrusion, laser writing, stereolithography, electro-printing, microfluidics, and inkjet deposition.
Key Market Trends
Drug Testing to Hold Major Share
3D bioprinters are of the highest importance for drug testing and clinical trials applications expected to drastically reduce the need for animal trials (therefore not only being ethically beneficial but also being cost-effective).
Traditionally, clinical trials for new drug development involved testing on animals with artificially induced affected tissues. With the advent of 3D bioprinting, drug developers will be able to address the complications associated with human clinical trials of new drugs, by identifying them in a short period (since these can be tested with human-like 3D printed tissues).
Thus, they are expected to reduce the losses incurred during late-stage failures. The regulatory agency of the United States Food and Drug Administration has already started to consider integrating alternatives for drug safety and efficacy assessment, providing scope for the market. Companies like Organovo (US based) were instrumental in the development of 3D bioprinter able to develop liver and kidney tissue for drug discovery applications.
Cosmetic companies are also potential buyers of the bioprinter technology. In 2013, the European Union prohibited the use of cosmetics developed by animal testing. Prohibition of retailing products tested abroad on animals was also levied. Such regulations have accelerated the use of alternatives like bioprinting.
Asia-Pacific Anticipated to Witness Fastest Growth
Asia-Pacific is the fastest growing market for 3D bioprinting, mainly due to a strong existing consumer base that will drive demand for 3D bioprinting, huge scope of 3D printing in medical services, increasing R&D for 3D printing, and government support and tax incentives. The growing number of cancer cases and the increasing the number of cancer treatments in the region are also expected to fuel the adoption of 3D bioprinting technology. According to the World Cancer Research Fund, the cancer rate is the highest in Australia and New Zealand in the world.
Competitive Landscape
The 3D bioprinting market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players with a prominent share in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market share and increase their profitability.
In Feb 2018, 3D Systems introduced NextDent 5100, a Figure 4-based 3D bioprinter designed for dental labs. NextDent 5100 facilitates high-speed 3D bioprinting for production of dental appliances and sacrificial castings. Further in Dec 2018, Aspect Biosystems has made a collaboration with the Institute for Technology-Inspired Regenerative Medicine (MERLN) at Maastricht University in the Netherlands.
This collaboration includes the placement of an RX1 Bioprinting Platform in Professor Lorenzo Moroni's Lab, where it will be used to develop kidney tissue by a head of bioprinting research, Dr. Carlos Mota. Under the terms of the collaborative research agreement, Aspect has an option to further develop and commercialize products based on the results of the research.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Increasing Geriatric Population
4.3.2 Increasing Organ Transplant Requirements
4.3.3 Increasing Investments In R&D
4.4 Market Restraints
4.4.1 Operational Challenges
4.5 Industry Attractiveness Porter's Five Force Analysis
4.6 Industry Value Chain Analysis
5 MARKET SEGMENTATION
5.1 By Technology
5.1.1 Syringe/Extrusion Bioprinting
5.1.2 Inkjet Bioprinting
5.1.3 Magnetic Levitation Bioprinting
5.1.4 Laser-assisted Bioprinting
5.1.5 Other Technologies
5.2 By Component
5.2.1 3D Bioprinters
5.2.2 Biomaterials
5.2.3 Scaffolds
5.3 By Application
5.3.1 Drug Testing and Development
5.3.2 Regenerative Medicine
5.3.3 Food testing
5.3.4 Research
5.3.5 Other Applications
5.4 Geography
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 3D Systems Corporation
6.1.2 Aspect Biosystems Ltd
6.1.3 GeSIM GmbH
6.1.4 Bio3D Technologies
6.1.5 Allevi Inc.
6.1.6 Cyfuse Biomedical KK
6.1.7 Envision TEC GmbH
6.1.8 Organovo Holdings Inc.
6.1.9 3Dynamic Systems Ltd
6.1.10 RegenHU SA
6.1.11 Stratasys Ltd
6.1.12 REGEMAT 3D
6.1.13 3D Bioprinting Solutions
6.1.14 Arcam AB (GE Company)
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/bvrtwy
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