3D bioprinting market dominated by North America, expected to grow at CAGR of 35.9%
PR NewswireAccording to a report from P&S Market Research, North America holds the largest share in the global 3D bioprinting market, which was valued at almost $100 million in 2015. The global market is expected grow at a CAGR of 35.9% between 2016 and 2022.
Russian bioprinting company 3D Bioprinting Solutions
With so much riding on the 3D bioprinting market, it is little surprise to see the industry valued at a sizable $98.6 million, with an expected CAGR of 35.9% between 2016 and 2022. That is the estimation of P&S Market Research, a company that offers market research and consulting services for various geographies around the globe. P&S reports that the global demand for 3D bioprinting solutions comes from a demand for tissues and organs for transplantations and pharmaceutical research, as well as opportunities in cosmetic surgery. However, potential obstacles for growth include the high cost of 3D bioprinting, a lack of skilled professionals, and stringent regulatory processes.
According to the new report, syringe-based 3D bioprinting contributed the largest revenue in the global 3D bioprinting market in 2015, with syringe-based and pneumatic extrusion bioprinting together accounting for over 60% of the market. Because of their potential for high resolutions, pneumatic extrusion technologies are predicted to achieve the fastest growth of all 3D bioprinting technologies over the next six years.
Cyfuse Medical carrying out 3D bioprinting research