DUBLIN--(BUSINESS WIRE)--The "3D Bioprinting Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The global 3D bioprinting market was valued at USD 724.17 million in 2020 and is expected to reach USD 2398.27 million by 2026 and grow at a CAGR of 21.91% over the forecast period (2021-2026).
The global 3D bioprinting market is expected to experience growth, owing to its revolutionary breakthrough in healthcare and pharmaceutical industries.
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.
Healthcare is one of the major markets where 3D bioprinting has been bringing a seismic change. This is majorly because of the increasing investments in healthcare applications, such as model and organ prototyping and production throughout the globe, and growing innovations in healthcare through 3D printing.
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.
Several companies have been undergoing extensive R&D expenditures to boost the market growth by making significant product developments and innovations. For instance, Organovo, a medical laboratory and research company, has been at the front of the R&D of 3D bioprinting in the country.
The market studied has been viewing strategic partnerships and collaborations as a lucrative path towards the expansion of the market presence, by leveraging the various skills and expertise of the other players in the market. For instance, in December 2019, CELLINK, a Swedish 3D bioprinter manufacturer collaborated with microgravity manufacturer, Made In Space., with the aim to identify 3D bioprinting development opportunities for the International Space Station (ISS).
Key Market Trends
Drug Testing to Hold Major Share
- 3D bioprinters are of the highest importance for drug testing and clinical trial 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 may 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.
- In April 2019, NIBIB-funded researchers at the University of Minnesota (UMN) created a new, dynamic 3D Bioprinted tumor model in a laboratory dish to screen anticancer drugs and study the spread of cancer and primary site tumor growth.
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 have been focusing on expanding their customer base across foreign countries. These companies are leveraging strategic collaborative initiatives to increase their market share and increase their profitability.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.3 Industry Value Chain Analysis
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increasing Geriatric Population
5.1.2 Increasing Geriatric Population
5.1.3 Increasing Investments in R&D
5.2 Market Restraints
5.2.1 Operational Challenges
6 MARKET SEGMENTATION
6.1 By Technology
6.1.1 Syringe/Extrusion Bioprinting
6.1.2 Inkjet Bioprinting
6.1.3 Magnetic Levitation Bioprinting
6.1.4 Laser-assisted Bioprinting
6.1.5 Other Technologies
6.2 By Component
6.2.1 3D Bioprinters
6.2.2 Biomaterials
6.2.3 Scaffolds
6.3 By Application
6.3.1 Drug Testing and Development
6.3.2 Regenerative Medicine
6.3.3 Food Testing
6.3.4 Research
6.3.5 Other Applications
6.4 Geography
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 3D Systems Corporation
7.1.2 Aspect Biosystems Ltd
7.1.3 GeSIM GmbH
7.1.4 Allevi Inc.
7.1.5 Cyfuse Biomedical KK
7.1.6 Envision TEC GmbH
7.1.7 Organovo Holdings Inc.
7.1.8 RegenHU SA
7.1.9 Stratasys Ltd
7.1.10 REGEMAT 3D
7.1.11 3D Bioprinting Solutions
7.1.12 Arcam AB (GE Company)
8 INVESTMENT ANALYSIS
9 FUTURE OF THE MARKET
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