SAN FRANCISCO, June 26, 2018 /PRNewswire/ --
The global 3D bioprinting market is expected to reach USD 2.6 billion by 2024, according to a new report by Grand View Research, Inc. Growing use of 3D printing in cosmetic surgery and drug testing coupled with increasing demand for 3D bio-printed organs is expected to drive the market growth during
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Currently, 3D bioprinting is used for printing medical instruments, prosthetics, and dental & bone implants. However, its application is expected to grow in pharmaceutical manufacturing as it helps in reducing the overall cost of drug manufacturing.
Spritam (levetiracetam) manufactured by Aprecia Pharmaceutical, a specialty pharmaceutical company, became the first 3D bio-printed drug to gain FDA approval in March 2016. The application of 3D bioprinting in pharmaceutical manufacturing is expected to grow, thereby, contributing to the market growth during the forecast period.
Rising incidences of chronic illnesses leading to organ and tissue transplants coupled with the increasing life span of individuals and limited number of organ donors are expected to be the major drivers for the market growth. The advancement in technology and incorporation of IT within the healthcare industry, rising geriatric population base, and improving R&D efforts for the sector is also expected to propel the 3D bioprinting market over the forecast period.
Rising investment and research in 3D bioprinting is also expected to contribute to the market growth during the forecast period. The increasing R&D expenditure, availability of venture capital, and government grants are facilitating research activities in the 3D bioprinting technology. This is expected to increase the influx of advanced technologies for 3D bioprinting.
Browse full research report with TOC on "3D Bioprinting Market Size, Share & Trends Analysis Report By Technology (Magnetic Levitation, Inkjet Based, Syringe Based, Laser Based), By Application, And Segment Forecasts, 2018 - 2024" at: https://www.grandviewresearch.com/industry-analysis/3d-bioprinting-market
Further Key Findings From the Report Suggest:
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Grand View Research has segmented the global 3D bioprinting market report on the basis of technology, application, and region:
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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SOURCE Grand View Research, Inc.
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