Rising demand for organ transplantation to drive the market demand for 3D bioprinting market to reach USD 1.33 billion by 2021
The global 3D bioprinting market has been segmented on the basis of technology, applications, materials, and regions. By technology, the global market is segmented into four categories, namely, microextrusion, laser-assisted, inkjet, and magnetic 3D bioprinting. The microextrusion market is estimated to command the largest share of the global market in 2016, due to its high affordability and simple setup process.
The global market is projected to reach USD 1.33 billion by 2021 at a CAGR of 26.5% during forecast period. The key factor driving the growth of the market is the rising demand for organ transplantation across the globe. In addition, growing R&D in the field of 3D bioprinting, increasing public and private investments to support 3D bioprinting research, and rising use of 3D bioprinting in drug discovery are supporting the growth of this market. On the other hand, limitations of biomaterial-based products and socio-ethical concerns are the major challenges in this market.
As of 2015, Organovo Holdings Inc. (US) held the leadership position in the global market. Over the past three years, the company has adopted new product launches, product enhancements; strategic partnerships, collaborations, and agreements as its key business strategies to ensure its global dominance in this market.
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The other key players in the market include EnvisionTEC GmbH (Germany), Nano3D Biosciences, Inc. (US), Cyfuse Biomedical K.K. (Japan), BioBots (US), Aspect Biosystems Ltd. (Canada), 3Dynamic Systems Ltd. (UK), regenHU Ltd (Switzerland), Cellink (Sweden), Regenovo Biotechnology Co., Ltd. (China), Poietis (France), and GeSiM (Germany), among others.
Increasing R&D initiatives for the use of living cells in the 3D bioprinting process to drive the global demand for Living Cells in the market
Living cells is most commonly used material in 3D bioprinting. They play a crucial role in the 3D bioprinting process as they have the ability to fabricate human scale tissues in a very defined and stable method.
In 2016, the living cells segment accounted for a share of 36.0% of the market. The growth in this segment is attributed to factors such as; increasing R&D initiatives for the use of living cells in 3D bioprinting; the expanding applications of this segment in 3D bioprinting; and growing research and awareness of stem cells among individuals across the globe.
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