New York, June 01, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “3D Bioprinting Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” – https://www.reportlinker.com/p06079791/?utm_source=GNW
Healthcare is one of the major markets where 3D bioprinting has been 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 have been 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 studied has been 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).
Key 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 may 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 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 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 has further been 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, may 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 have been 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.
– 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 may 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 may help to enhance advanced research and clinical applications.
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Read the full report: https://www.reportlinker.com/p06079791/?utm_source=GNW
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