According to market research titled "Global 3D Bioprinting Market Size, Share, Development, Growth and Demand Forecast to 2022 - Industry Insights by Technology (Syringe Based, Pneumatic Extrusion, Inkjet Based, Laser Based, Others), by Application (Tissue and Organ Regeneration, 3D Cell Culture, Pharmaceutical, Others)" published by P&S Market Research, the global 3D bioprinting market was valued at $98.6 million in 2015, and it is expected to grow at a CAGR of 35.9% during 2016-2022.
The growth of the global market is largely driven by increasing large demand of tissues and organs for transplantation and the innovations and advancements in technology for 3D bioprinting, the study says. Many people across the globe are waiting for organ or tissue transplants as there is a large gap in demand for organs transplant and donors.
Various companies along with academic institutes and laboratories are investing huge capital for 3D bioprinting research and development, research says. Other factors driving the growth of the market include increased R&D activities and more compliance for 3D bioprinting in drug discovery processes. In addition, growing stem cell research and increasing adoption of 3D bioprinting in cosmetic industry are expected to create ample growth opportunities for the global market. However, the high cost of 3D bioprinting, lack of skilled professionals and stringent regulatory processes are the key barriers for the growth of the global market.
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