Press release
Bio-Implants Market is Anticipated to Record a CAGR of 10%, & to Reach a Valuation of US$ 363.43 Billion by end of 2032
Bio-Implants Market
The global 3D Bioprinting Market is estimated to surpass US$ 1.2 Bn by 2022, at the market CAGR of 10% during the forecast period (2022-2032), as per a new report by Future Market Insights (FMI).
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3D bioprinting has immense potential to facilitate organ transplants and drug discovery. 3D printing can copy the actual macro and micro-environment of human organs and tissues which can solve the organ transplant crisis.
Advancements in 3D printing technology and its promising applications in the healthcare industry are expected to increase the sale of 3D bioprinting over the forecast period.
As per the report, the technology will find increasing application in orthopedic implants manufacturing. The orthopedic implants segment is in fact forecast to account for over 30% of the market in terms of application.
Key Takeaways from 3D bioprinting Marker Study
Exhibiting a little below 13% Y-o-Y growth in 2021, 3D bioprinting market will exhibit solid growth
The U.S. will register high demand, accounting for nearly 95% of sales in North America
Demand in U.K. is expected to rise significantly, exhibiting above 11% Y-o-Y growth in 2021
France and Germany too will register high demand
In East Asia, China and Japan are expected to emerge as key market
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Acquisitions, Partnerships and expansion are key Strategic Focus of 3D bioprinting Market Players
Leading players in the 3D bioprinting market on strengthening their market position though the Acquisition, Partnerships and expansion. For Instance,
In January 2021, 3D Systems announced its regenerative and bioprinting solutions expansion by actively investing in the regenerative areas, in collaboration with United Therapeutics Corporation.
In December 2019, GE Healthcare Life Sciences collaborated with Advanced Solutions Life Sciences (ASLS), a Kentucky-based biotechnology firm, to build an integrated 3D bioprinter by combining their digital advanced technologies.
In January 2020, GE Healthcare Life Sciences introduced a new additive manufacturing (AM) facility in Umeå, Sweden that will be dedicated to integrating 3D-printed parts into the company's production of bio manufacturing equipment. With $2 million in backing, the new center is expected to increase biopharma manufacturers' access to state-of-the-art technologies
Who is Winning?
The global market is set to expand its scope in the forecast period, due to rising prevalence of orthopedic disease globally and adoption of 3D bioprinting at various stages of development of orthopedic implants by medical manufacturers.
In addition to this, cost effectiveness and increase adaption of 3D bioprinting in dental and regenerative medicine application has augmented the sales of 3D bioprinting.
The key market players covered by FMI include 3D Systems, Inc, GE Healthcare (Concept Laser, Arcam AB), EOS GmbH Electro Optical Systems, Renishaw plc, Stratasys Ltd, Ltd, EnvisionTEC, Formlabs, Inc And Organovo Holdings Inc, and Advanced Solutions Life Sciences, consolidating their positions through mergers, acquisitions and new product launches.
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Which Region holds the Highest Growth Potential in the Bio-implants Market?
Depending on geographic regions, the global bio-implants market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. North America is the largest market for bio-implants in terms of revenue due to many players in bio-implants and robust healthcare infrastructure.
North America and Europe together account for a significant share in the global bio-implants market. Europe is the second-largest bio-implant market owing to the technological advancements in healthcare and the considerably high geriatric population in the region.
The MEA region has witnessed mass production of bio-implants in diverse therapeutic areas, making the MEA a potential bio-implant market. Also, the bio-implants in the MEA bio-implant market are cheaper than the global prices and can meet domestic demand.
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years
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