The latest market report published by Credence Research, Inc. “Global 3D Bioprinters Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 – 2022,” the 3D bioprinters market was valued at USD 562.8 Mn in 2015, and is expected to reach USD 1,942.5 Mn by 2022, expanding at a CAGR of 18.8% from 2016 to 2022.
Browse the full report 3D Bioprinters Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 – 2022 report at http://www.credenceresearch.com/report/3d-bioprinters-market
3D bioprinting is the process that allows researchers to generate and assemble cellular layers to form organic tissues. The use of biomaterial cells, proteins or other biological compounds as building block is carried out for fabricating 3D personalized structures or in vitro biological models through additive manufacturing processes. The major factors driving 3D bioprinters market are increasing demand for organ transplants, and requirement of cost-efficient technologies in drug development. According to the Organ Procurement and Transplantation Network (OPTN) and the Gift of Life Donor Program, in the U.S., an average of 21 people die every day waiting for an organ transplant, and the wait times can range from four months for a heart to five years for a kidney.
The global 3D bioprinters market is represented by key technologies namely, syringe based 3D bioprinting, laser based 3D bioprinting, magnetic levitation 3D bioprinting, inkjet based 3D bioprinting and valve-based 3D bioprinting. Among these syringe based 3D bioprinting is the largest segment and is anticipated to maintain its lead during the forecast period 2016 – 2022. Pharmaceuticals segment accounted for a major share of 31.70% in the 3D bioprinting market. Drug development today is increasingly focusing on reducing side effects, improving treatment outcomes and deserting the ‘one-size-fits-all’ approach to medication management.
Market Competition Assessment
According to market experts competition in 3D bioprinting market is low and barriers are high. Competition is low due to presence of niche opportunities in the healthcare industry and barriers are high because the research is very specialized and requires a significant amount of investment, usually by the government or private donors, while the risks to profitability remain very high. 3D Systems, Inc. and Stratasys Ltd. dominate the 3D printer applications in healthcare market. The other upcoming key players such as Organovo, Inc. and EnvisionTEC, Inc. are expected to be one of the leading players in 3D bioprinting market in the near future.
Key Market Movements
- Gap between patients waiting for organ transplant and available organ donors
- Rising demand for cost-efficient technologies in drug development processes
- Growth in adoption of 3D bioprinted bone grafts and dental consumables