Bioprinting Market at a Compound Annual Growth Rate (CAGR) of 35.4% for the Period 2019 to 2024
Friday, August 23, 2019
Press release from the issuing company
The global bioprinting market should reach $1.4 billion by 2024 from $306.2 million in 2019 at a compound annual growth rate (CAGR) of 35.4% for the period 2019 to 2024.
This new BCC Research report on the topic “Current Bioprinting Prospects and Future Innovations” offers a detailed perspective on bioprinting technology, its current market and future prospects. The report provides a comprehensive analysis of the trending applications of bioprinting in the market in the global context, including market forecasts and sales through 2024. The report is focused on the analysis of the bioprinting market by various product types, regions and applications.
The products that matter the most, i.e., instruments (bioprinters), reagents (bioinks), 3D cell culture products, and software and services, are discussed and analyzed. Each of these segments are sub-divided into different types (as detailed later). The emphasis is on the printing instruments, reagents, tissue products, skin substitutes, etc. The report also highlights the popular and emerging applications of bioprinting in the clinical and research domains. The end user markets, i.e., research and development, cosmetics, drug discovery, clinical and others, are analyzed in this report. Other end user markets include chemical, agrochemical, educational, hobbyist and veterinary applications. This study includes a survey of the bioprinting market in all geographic regions, including North America, Europe, and Emerging markets. The Emerging markets include regions like India, China, Korea, Taiwan, Africa, Australia, New Zealand, Canada, Latin America, among others.
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The report elaborates on the critical issues and challenges facing the bioprinting industry as well as emerging trends in bioprinting technologies. It additionally features the new developments and new product launches in the global market.
The new BCC report provides relevant patent analysis and comprehensive profiles of market players in the industry. The industry structure chapter focuses on changing market trends, important manufacturers/suppliers, their market shares and product offerings. The chapter also covers mergers and acquisitions and any other collaborations or partnerships that happened during the evaluation period of this report that are expected to shape the industry.
Factors such as the strengths, weaknesses, threats and opportunities that are expected to play a role in the evolution of the bioprinting market are also evaluated. Any regulatory changes or new initiatives are highlighted explicitly.
Excluded from this report is medical 3D printing, which focuses on nonliving materials used in medical devices. Examples of medical devices that are not covered include treatment models, surgical tools and guides, prosthetics, dental restorations and crowns, and surgical implants.
- 85 data tables and 27 additional tables
Bioprinting is a form of additive manufacturing technology, that can be used to fabricate biomimicking 3D tissue constructs and organs. The reliability and accuracy offered by these 3D tissue structures and organ constructs have made them highly attractive for a number of applications. The use of stem cells in bioprinting has significant prospects in the area of personalized medicine, to develop customized tissues/organs for repair or for the fabrication of personalized 3D tissue models for drug toxicity testing.
There is a huge unmet demand for organs. Bioprinting of 3D organs has the potential to reduce the endless wait lists of organ donations and revolutionize the medical industry. Though a number of studies are going on catering to the development of fully, functional organs by bioprinting, a number of challenges remain. These pertain to the fabrication of complex tissues with multiple cell types, the issue of resolution, and the incorporation of vascularization, among other factors.
Despite these challenges, 3D bioprinting has undergone extensive progress and is used in many other applications. The 3D tissues being biofabricated can be used for tissue engineering and regenerative medicine. From the treatment of wounds (3D skin tissues), to craniomaxillofacial repair and orthopedic reconstructive surgeries (bone grafts), to the vascular grafts used to treat the growing number of heart disease patients—these are just some of the potential clinical applications of bioprinting. In addition, in situ bioprinters that have the ability to treat the wounds/injuries by directly printing cells at a wound site are also gaining immense popularity.
One of the main drivers of the bioprinting market are the applications of 3D tissue constructs and biofabricated organ-on-chips for in vitro drug testing. The pharmaceutical industry is constrained by a high rate of drug failures at the clinical stage. Bioprinted 3D models reproduce natural tissues very closely and, therefore, are ideal materials for in vitro drug testing and other preclinical testing studies. The potential of 3D tissues to alleviate the burden on animal testing is another reason for their increased popularity. Poietis recently launched the biofabricated skin tissue, Poieskin, which can be used for cosmetic testing applications. Moreover, a multitude research organizations and universities are developing 3D tissue models for disease modeling, drug research and cancer studies, among others.
The bioprinting market is propelled by innovations in bioprinting technologies and products encompassing bioprinters, bioinks, software, and 3D tissue products. The number of U.S. patents issued in 2018 (through November 4, 2018) in the field of bioprinting increased to 38, from a total of 27 in 2017. The highest number of patents were issued in the category of 3D cell culture products followed by the bioinks segment. Strategic collaborations and partnerships among research institutes and bioprinting companies along with interested partners from the pharmaceuticals and cosmetics sectors are supporting the growth of bioprinting market in a big way. Other factors driving the growth of the bioprinting market include increased government grants, the rising interest of private venture capitalists supporting several bioprinting start-ups, and the increasing healthcare burden.
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