As per Inkwood Research, the Global 3D Bioprinting Market is expected to record a CAGR of 16.69% in terms of revenue during 2023-2032.
“Browse 73 Market Data Tables and 57 Figures spread over 270 Pages, along with an in-depth TOC on the Global 3D Bioprinting Market Forecast 2023-2032.”
3D bioprinting is a fast-growing domain in the medical industry. It has been evaluated to potentially revolutionize medical treatments. Also, it is deemed to offer an efficient and ethical approach to creating organs for transplant. In addition, 3D bioprinting is expected to minimize the costs associated with organ transplants. Such aspects contribute to the global 3D bioprinting market growth opportunities.
Rising Focus on Regenerative Medicine boosts Market Growth
Recent developments in 3D bioprinting have huge potential in regenerative medicine (RM) with applications in organ & tissue transplants. Most developments are primarily driven by technological advancements in tissue engineering and stem cell biology. The growing focus on regenerative medicine is propelled by the increasing number of chronic and degenerative diseases that place cost pressures on healthcare providers. Accordingly, long-term cell, organ, and tissue replacement will provide an alternative to transplantation alongside therapeutic options for degenerative conditions currently only managed through palliation.
Furthermore, governments across the United States and Europe have recognized regenerative medicine and tissue engineering as research priorities. Moreover, 3D bioprinting has emerged as a viable alternative and addresses certain challenges classical tissue engineering methods face. Such developments are projected to drive the global 3D bioprinting market growth.
Inkjet-Based Bioprinting: Dominating Technology
Inkject-based bioprinting facilitates printing complex tissues or living organs on the culture substrates using biomaterials as bioinks. The wide-scale adoption of inkjet-based printing in the medical domain is a key contributor to the segment’s growth. Also, the research trends with regard to inkjet printing as a bio-applicable technology in drug delivery systems and tissue engineering.
North America: Dominating Region
The rising incorporation of IT in the healthcare industry is projected to boost the North America 3D bioprinting market growth. Also, the increased government expenditure on healthcare with regard to drug development and vaccine trials has increased the demand for 3D bioprinting in the region.
The market is dominated by eminent companies offering superior technology and enabling growth through existing distribution channels. Also, market players are leveraging medical device design and manufacturing to meet R&D needs. Some of the leading firms in the market include Advanced Solutions Life Sciences, Cyfuse Biomedical KK, GeSiM GmbH, etc.