May 16, 2017 SOURCE: BusinessWire

Global 3D Bioprinting Market to Grow at a CAGR of Over 25% Through 2021, Says Technavio

The global 3D bioprinting market is expected to grow at a CAGR of more than 25% during the forecast period, according to Technavio’s latest market research.

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Technavio has published a new report on the global 3D bioprinting market from 2017-2021. (Graphic: Business Wire)

In this market research report, Technavio covers the market outlook and growth prospects of the global 3D bioprinting market for 2017-2021. The market is further categorized into eight application segments, including the human tissue and organ generation segment, medical testing, prosthetics, dental solutions, biosensors, cosmetics, implants, and food and animal products.

“Although the vendors and end-users in the global 3D bioprinting market are focusing on the human tissue and organ generation segment, the focus is expected to shift towards prosthetics, dental solutions, biosensors, and medical testing during the forecast period,” says Chetan Mohan, a lead embedded systems research expert from Technavio.

Technavio’s research analysts segment the global 3D bioprinting market into the following regions:

Americas
EMEA
APAC

Americas: the US accounts for 41% of the market share

The market in the Americas accounted for a share of approximately 55% of the overall market in 2016. The US being one of the early adopters of 3D bioprinting technology, held a market share of more than 41% in 2016.

One of the leading companies in the bioprinting market, Organovo is based out of the US. It is one of the primary reasons for such a high market share for the Americas. The market for human kidney, skin, and liver tissue is immensely lucrative for the pharmaceutical and chemical companies. Many restrictions and bylaws are expected to come from the Food and Drug Administration (FDA) in the US during the forecast period. Such challenges are expected to ensure the safety of bioprinted solutions.

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EMEA

The major countries contributing to the 3D bioprinting market in the EMEA include Germany, the UK, France, Italy, and Spain. Unlike the Americas, the prominence of commercial applications of bioprinted solutions is low in EMEA. However, the demand for these commercial applications is expected to intensify by the end of the forecast period. The revenue for this region is mainly generated from research organizations and laboratories.

Companies like L'Oreal, which is based out of France, have teamed up with Organovo for the research and development of bioprinted human skin and tissue. A majority of the end-users in countries like Germany, the UK, and Italy comprise of major universities. Universities like Swansea University Prifysgol Abertawe in the UK have developed in-house 3D tissue bioprinting facilities, which are commercially available.

APAC: fastest growing market for 3D bioprinting

The 3D bioprinting market in APAC is expected to grow at a CAGR of 33% during the forecast period. APAC witnessed low penetration of 3D bioprinting in the initial years (prior to 2013) in the global market while the Americas and EMEA had higher penetration rates.

Revotek, a startup from China, has been successful in developing 3D bioprinted stem cells that promote regeneration of vascular networks. In December 2016, scientists in China used bioprinted blood vessels and implanted them in a monkey, which bonded with the host subject within 7 days. The implant also promoted regeneration of a vascular network.

“Research scientists from Kyoto University in Japan have used a Regenova 3D bioprinter to create tubular conduits that can regenerate damaged nerve cells,” says Chetan.

Some of the top vendors in the global 3D bioprinting market as highlighted in this market research analysis are:

3D Bioprinting Solutions
3D Biotek
Advanced BioMatrix
BioBots
CELLINK

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