3D Bioprinting Industry Worth $1.95 Billion by 2025 - Increasing Investments in Healthcare Applications, such as Model and Organ Prototyping & Production
DUBLIN, March 19, 2020 /PRNewswire/ -- The "3D Bioprinting Market - Growth, Trends and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
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The Global 3D Bioprinting Market (henceforth referred to as the market studied) was valued at USD 586.13 million in 2019 and is expected to reach USD 1,949.94 million by 2025, registering a CAGR of 21.91%, during the period of 2020-2025.
The 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 is 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 are 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 is 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).
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 will 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 a 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.
Asia-Pacific Anticipated to Witness the Fastest Growth
-- Asia-Pacific is the fastest-growing market for 3D bioprinting, mainly
due to a strong existing consumer base that will drive demand for 3D
bioprinting, huge scope of 3D printing in medical services, increasing
R&D for 3D printing, and government support and tax incentives.
-- The Chinese researchers have made rapid advancements in 3D-bioprinting
technology, such as Liquid-in-liquid printing method. This method
involves liquid polymers that create a stable membrane where they meet.
The resulting liquid structures, as they claim, can hold their shape for
as long as 10 days, before they begin to merge. Using this new
technique, they were able to print an assortment of complex shapes. This
is further leading the path to print complex 3D-printed tissues made, by
including living cells.
-- The Japanese government estimates that the regenerative medicine
industry is presumed to grow to JPY 1 trillion by 2030, the New Energy
and Industrial Technology Development Organization (NEDO) expects that
emerging and innovative technologies, such as 3D bioprinting, will lead
the market in near future.
-- In July 2019, the Government of India (GoI) also agreed to collaborate
with the United States in the research and development of 3D bioprinting
regenerative medicine. This co-operation involves the exchange of
faculty members and students for the exchange of scientific
ideas/information and technologies, as well as the joint use of
scientific infrastructure for research, especially in the areas of 3D
bioprinting.
-- The Government of South Korea announced plans to invest about USD 37
million to boost the development of 3D printing across the country. The
country's Ministry of Science announced plans to spend a considerable
portion of its budget on a plethora of 3D applications, in order to
strengthen its competitiveness and ability to meet the demand.
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 are 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.
Recent Developments
-- In January 2020, 3D Systems and CollPlant Biotechnologies announced a
joint development agreement to play a pivotal role in advancing and
accelerating innovations in the biomedical industry. This alliance will
be focusing on the development of regenerative medicines with the help
of 3D bioprinting.
-- In September 2020, CELLINK launched its newly developed BIO X6, which is
a six-printhead bioprinting system that allows the combination of
various materials, tools, and cells. It also offers an intelligent
exchangeable printhead system backed by CELLINK's patented Clean Chamber
Technology. This product will help to enhance advanced research and
clinical applications.
Key Topics Covered
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers/Consumers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 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 & Development
6.3.2 Regenerative Medicine
6.3.3 Food Testing
6.3.4 Research
6.3.5 Other Applications
6.4 Geography
6.4.1 North America
6.4.2 Europe
6.4.3 Asia-Pacific
6.4.4 Rest of the World
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 S.A.
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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