The 3D bioprinting market is expected to reach USD 1,332.6 Million by 2021 from USD 411.4 Million in 2016, at a CAGR of 26.5% during the forecast period. Rising demand for organ transplantation, growing R&D, increasing public and private investments in research, and rising use of 3D bioprinting in drug discovery are driving the growth of this market.
The global 3D bioprinting market was dominated by Organovo Holdings Inc. (U.S.) and EnvisionTEC GmbH (Germany) in 2015. Organovo Holdings Inc. held the leading position in the market in 2015, due to its robust 3D bioprinting portfolio. In addition, the company is focusing on strategies to expand its product offerings and increase its visibility in the 3D bioprinting market. The company has collaborated with various research organizations and pharmaceutical companies for developing novel products. For instance, in June 2016, Organovo collaborated with the University of California, San Francisco (UCSF) for developing 3D bioprinted tissues, to be used for research on skeletal diseases. Similarly, in December 2014, Organovo collaborated with the Yale School of Medicine Department of Surgery (U.S.) to develop 3D organ tissues for surgical transplantation research.
EnvisionTEC GmbH (Germany) held the second position in the 3D bioprinting market in 2015. The company has a strong 3D bioprinting product portfolio under its biofabrication range of products. The company primarily concentrates on developing innovative 3D bioprinting solutions to ensure its growth in the global market. The company also focuses on increasing its presence in Asian countries to leverage the high growth potential of this region. In February 2015, EnvisionTEC signed a distribution agreement with DiethelmKellerSiberHegner (DSKH), a Swiss-based market expansion services provider. This agreement enabled DSKH to market and distribute EnvisionTEC’s 3D bioprinting solutions in Malaysia, the Philippines, Singapore, Taiwan, and Vietnam.
In the 3D bioprinting market, leading players are adopting product launches, product development, partnerships, collaboration, and agreements to increase their market share. Market players adopted these strategies to gain access to new technologies, develop novel products, and expand their geographic presence & distribution networks. Leading players are also focusing on increasing their market visibility and strengthening their R&D capacities.
Nano3D Biosciences, Inc. (U.S.), Cyfuse Biomedical K.K. (Japan), BioBots (U.S.), Aspect Biosystems Ltd. (Canada), 3Dynamic Systems Ltd. (U.K.), regenHU Ltd (Switzerland), Cellink (Sweden), Regenovo Biotechnology Co., Ltd. (China), Poietis (France), and GeSiM (Germany) are other prominent companies in the 3D bioprinting market.
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