North America’s share in the global 3D bioprinting market was valued at almost $100 million in 2015 according to a P&S Market Research report, making it the market leader. The global market is expected to grow at a GAGR of 35.9% between 2016 and 2022. According 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.
The demand for organs still exceeds the supply dramatically and this is unlikely to change, as people are not allowed to sell their organs. 3D bioprinting will affect the lives of millions saving a countless number of people who just can’t bear to wait. The potential impact this technology can have is immeasurable and the research and breakthroughs continue to improve. 3D bioprinting also allows for new pharmaceutical testing procedures as they can test the effect of certain drugs on printed organs without having to use animals and patients.
Obstacles for growth that the industry faces are high costs, a lack of skilled professionals, and strict regulatory processes. According to the P&S Market 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. Pneumatic extrusion technologies are predicted to grow the fasted in the industry over the next six years due to their potential for high resolutions.
Products and services for tissue and organ regeneration produced the largest portion of revenue in the industry in 2015. The report mentioned companies like Organovo, Cyfuse Medical, and Russian medical innovator 3D Bioprinting Solutions as key market performers.