The global 3D bioprinting market is set to exhibit huge expansion in the coming years, as per the estimates of P&S Intelligence, a market research company based in India. The burgeoning requirement for tissue and organ transplants, the increasing compliance with various drug discovery standards, and rapid advancements and innovations being made in medical and healthcare technology are the major factors fueling the progress of the market across the world.
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Over the last few years, there have been numerous collaborations between 3D bioprinting organizations and pharmaceutical companies for facilitating drug testing during the initial clinical trial stages. Furthermore, various pharmaceutical firms are increasingly testing the new drugs produced on 3D printed tissues, on account of the fact that these drugs are allowing them to expedite drug discovery processes. Besides these, the soaring number of research and development (R&D) projects being announced in this domain is also propelling the market growth.
Depending on application, the 3D bioprinting market is classified into 3D cell culture, tissue and organ regeneration, and pharmaceutical. Out of these, the tissue and organ regeneration category recorded the highest growth in the market during the past few years and this trend is predicted to continue in the forthcoming years as well. On the other hand, the fastest growth in the market will be exhibited by the 3D cell culture category in the upcoming years.
Globally, the North American 3D bioprinting market will demonstrate the highest growth in the forthcoming years. This is credited to the presence of a well-developed healthcare infrastructure and several leading industry players and rapid technological advancements in the medical and healthcare field and also in 3D bioprinting in the region. Furthermore, the surging population of geriatric people and the rising incidence of chronic diseases are also fueling the expansion of this market.
Hence, it can be said with surety that the market will exhibit rapid advancement across the world in the future years, primarily because of the growing incidence of chronic diseases and the rising requirement for advanced methods that can expedite the drug discovery and drug development processes.
