Growing Use of 3D Bioprinting Technology in the Medical Sector Drives the 3D Bioprinting Market
Some of the leading industry technologies used in 3D bioprinting are inkjet-based printing, magnetic levitation, laser-based printing, and syringe-based printing. These technologies have expanded the application of 3D bioprinting in areas such as medical, bioinks, personal and consumer product testing, dental, biosensors, and food and animal product bioprinting.
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The research report offers a detailed assessment of the global 3D bioprinting market. The strengths, weaknesses, opportunities, and threats to individual companies, regional segments, and the market as a whole have been elaborated to give clients a well-rounded overview of the structure, contribution, and performance of the 3D bioprinting market. The most prominent players, the dominant and struggling segments, and the future of the 3D bioprinting market have been analyzed in the research.
The global 3D bioprinting market has witnessed significant growth in the past few years. This is attributed to factors such as increase in lifespan of individuals, growing incidence of chronic illnesses, rise in demand for tissue and organ transplants, incorporation of IT within the health care sector, limited number of organ donors, rapid advancement in 3D printing technology, and growing geriatric population. In addition, considerable improvement in research and development efforts in the industry has boosted the 3D bioprinting market. The prospects of bioprinted organs, implants, and tissue reconstructions seem positive in the near future thanks to the efforts of research institutes and universities.
Growing use of 3D bioprinting technology in the medical sector is one of the major drivers of the global market. Apart from regeneration of tissues, organs, prosthetics, and implants, the production of 3D bioprinted pills presents lucrative options for players in the 3D bioprinting market. Escalating need for personalized medicine and cost-efficient and rapid production of biodrugs are likely to propel the market in the near future.
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Geographically, the global 3D bioprinting market comprises North America, Asia Pacific, Europe, and Rest of the World. North America is the largest market for 3D bioprinting in terms of revenue and is fueled by several macro and micro factors, including improved health care infrastructure, presence of a massive chronically ill and geriatric population, and high disposable income of the people. Continuous research activities in the field of 3D printing are boosting market growth in North America. The 3D bioprinting market in Asia Pacific is anticipated to emerge as a strong contender in the global scenario thanks to the rapid adoption and adaption of technological advancements, development of health care IT, supportive government initiatives, rising foreign investments, and growing awareness about the technology.
Leading players in the global 3D bioprinting market include Oceanz, Luxexcel Group BV, Organovo Holding, Inc., TeVido BioDevices, Voxeljet, Stratasys Ltd., Aspect Biosystems, Solidscape, Materialise NV, Cyfuse Biomedical, Bio3D Technologies, 3Dynamics Systems, Envision TEC, and BioBots. An increasing number of companies have been partnering with universities and research institutes that are dedicated toward working on organ regeneration technologies. Several seminars and exhibitions have also been held to raise awareness regarding the 3D bioprinting industry across the world.
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