FREMONT, California /PRNewswire/ - According to a new market intelligence report by BIS Research, titled "Global Bioprinting Market- Analysis and Forecast, 2018-2025", the global bioprinting market is anticipated to grow at a CAGR of 15.2% during the forecast period 2018-2025, and is anticipated to grow over $4.70 billion by 2025.
Growing demand for organ transplant, rise in public & private funding to support 3D bioprinting research activities, increasing use of 3D bioprinting in drug discovery process, rising geriatric population, and advancement in the technology are some of the drivers for the growth of the bioprinting market.
Significant funding provided by the various governmental organizations to perform research & development (R&D) activities in regenerative medicine is expected to fuel the demand for bio-printed organs soon.
Browse 42 market Data Tables and 106 Figures spread through 274 Pages and in-depth TOC on "Global BioprintingMarket"
BIS Research Report: https://bisresearch.com/industry-report/global-bioprinting-market-2025.html
With the advancement in modern science and technology, organ failure or deterioration caused by the chronic diseases, congenital malformations, and traffic accidents has become one of the most prominent social problems. As per the Journal of Chinese Medical Ethics, there are around 1.5 million patients who require organ transplantations in Chinaevery year, but only less than 1% of patients can obtain suitable organs. As compared to the traditional artificial organs made up of polymers or metals, the bioartificial organs are made up of living cells and biomaterials. A wide variety of bioprinting strategies have been developed to tackle the challenges for the manufacturing of bioartificial organs with physiological functions. The objective of these strategies is to build complex organ geometries through spatiotemporal pattern of heterogeneous types of bio-inks, especially living cells.
The advent of 3D bioprinting technologies has led to a significant progress in the manufacturing of large bioartificial organs, such as bones, livers, hearts, cartilages, and skins. 3D bioprinting technologies can produce living tissues, blood vessels, and potentially whole organs for its usage in medical procedures, drug discovery & testing, tissue engineering research & study, and others. The advantages of 3D bioprinting over other fabrication techniques are: it enables fabrication of anatomically correct shapes, allows fabrication of porous structures, can co-culture multiple cell types locally, and control the delivery of growth factors and genes, as well as can generate tissue models in a high-throughput manner and integrate vascularization.
The widening gap between the demand and the supply of organ transplants represent a substantial unmet need amongst the patients and doctors. The emerging bioprinting technologies had a strong potential in filling this gap. The eventual goal of researchers is to be able to produce bio-printed organs for organ implants. The market is expected to progress gradually over the coming years with the focus shifting from research to commercialization. The early success of the bio-printed organ transplants is likely to provide an additional boost in subsequent years.
According to Abdul Wahid, a lead analyst at BIS Research, "With the advent of technologically advanced bioprinting technologies, the global market is expected to grow substantially to meet the rising demand of organ transplantation, globally. The market for bioprinting technology is expected to grow at the CAGR of 15.2% during the forecast period, 2018-2025. Among all the product type, the software solutions for designing and analysis is expected to grow at the highest CAGR of 18.4% during the forecast period, 2018-2025. Furthermore, out of all the application area, clinical application is expected to grow at the highest CAGR of 19.4% during the forecast period, 2018-2025."
Research Highlights:
- Based on the product segment, bioprinters accounted for the largest market share in 2016, and are expected to reach $1.76 billion by 2025. This can be attributed to the rapidly increasing technological advancements in the pharmaceutical and biotechnology sectors and rise in demand for 3D printers in various application, such as drug discovery and development. Furthermore, among all the product categories, software solution sector is anticipated to grow at the highest CAGR of 18.4% during the forecast period, 2018-2025.
- Based on the application segment which includes clinical applications, and research application, among others, the research application accounted for the largest market share in 2016 and is anticipated to reach $2.10 billion by 2025. Furthermore, among all the research application types which include3D cell culture, drug research, and regenerative medicine, among others, drug research is anticipated to grow at the highest CAGR of 12.4% during the forecast period, 2018-2025.
- Based on the technology segment which includes inkjet-based technology, extrusion-based technology, magnetic levitation and photocuring technology, the extrusion-based technology accounted for the largest market share in 2016 with revenue generation of $697.3 million. Further, magnetic levitation is anticipated to grow at the highest CAGR of 19.6% during the forecast period, 2018-2025.
- Based on geography, North America is currently the largest revenue generator for the global bioprinting market and is expected to reach $1.77 billion by 2025. Further, Latin America is expected to be the fastest growing regions with the CAGR of 16.8%, during the forecast period 2018-2025.
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This market intelligence report provides a multidimensional view of the global bioprinting market in terms of market size and growth potential. This research report aims at answering various aspects of the global bioprinting market with the help of the key factors driving the market, threats that can inhibit the overall growth of the market, and the current growth opportunities that are going to shape the future trajectory of the market expansion. The study considers the growth-share matrix model for a comprehensive study of the global bioprinting market and assesses the factors governing the same.
Furthermore, the competitive landscape chapter in the report explicates the competitive nature of the global market and enables the reader to get acquainted with the recent market activities, such as product launches, regulatory clearance, and certifications, partnerships, collaborations, business expansion, as well as mergers and acquisitions. The research report provides a comprehensive analysis of product sales, manufacturers, and trend analysis by segments and demand by geographical regions.
This report is a meticulous compilation of research on more than 100 players in the market ecosystem and draws upon insights from in-depth interviews with the key opinion leaders of more than 50 leading companies, market participants, and vendors. The report also profiles 26 companies including several Regenovo Biotechnology, Poietis, Cellink AB, Advanced Solutions Inc. (Life Sciences), 3Dynamic Systems, RegenHU, Aspect Biosystems, Allevi (Biobots), Organovo Holdings Inc. and SunP Biotech llc, among others.
Key questions answered in the report:
• What are the major market drivers, challenges, and opportunities of the global bioprinting market?
• How did the advanced bioprinting technologies evolve and what is its scope in the future?
• What were the market shares of the leading segments and sub-segments of the global bioprinting market in 2016 and what will be its shares in 2025?
• How will each of the segments of the global bioprinting market grow during the forecast period and what will be the revenue generated by each of the segments by the end of 2025?
• How did the market share of the leading companies change in 2016, and which country will lead the market in 2018?
• How will the bioprinting industry evolve during the forecast period 2018-2025?
• What are the key developments and strategies implemented by the key players to stand out in this market?
• Which product, application and technology will dominate the global bioprinting market by the end of the forecast period, and which one is growing at the highest CAGR during the forecast period 2018-2025?
• What will be the growth rate of different segments during the forecast period? Which is the leading segment of product, application, technology, and region?
• Who are the key players in the global bioprinting market?
• Which region will lead the global bioprinting market in revenue generation through the forecast period?
• Which country will be growing at the highest CAGR during the forecast period?
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