Functional 3D Printed Tissue Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

  • To Be Published : Aug 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Advancement in 3D printing technology has widely reshaped the industry dynamics along various verticals ranging from automation to healthcare. 3D printed organs are the next generation organ transplantation technology reshaping the overall healthcare industry. This million dollar industry is growing at a robust double digit growth rate creating new market opportunities for medical players. Demand for organ transplants has increased in last five years. As per the estimates of U.S. National Kidney Foundation, there are nearly 121 thousand people waiting for lifesaving organ transplants. Of these, 80% are kidney transplant seekers. More than 650 thousand transplants have occurred in the U.S. in last 28 years. However, the numbers are in sharp contrast to actual demand and there is huge gap between supply and demand of organs. Only 2% of cases are met with organ transplants. Increasing demand has led to high impetus on development of technology to artificially build lifesaving organs. As a result, many companies in collaboration with R&D institutes are engaged in development of 3D printed organs. 

3D bioprinting is set to revolutionize the healthcare industry in coming years and will be widely used for transplantation of several tissues including vascular grafts, tracheal splints, heart tissue, etc. Early entrants in the market will give added advantage to players and will help in excelling business revenue to a larger extent.

Coherent Market Insights has segmented the market by

  • Technology
  • Application

Market Dynamics:

Demand for functional 3d printed tissue is expected to grow at a robust rate owing to high demand for lifesaving organ coupled with changing healthcare macroeconomics. Many university labs such as Wake Forest Institute for Regenerative Medicine and Harvard scientist in collaboration with leading medical device companies are carrying out projects to develop lab-grown tissue to meet the growing demand of millions seeking for organ transplantation. Advent of 3d printing technology has bridged the gap to a great extent. The market is further driven by growing consumer base and increasing healthcare expenditure.

Though the market is positive, the industry is currently undergoing through some challenges namely – high cost incurred on research and development outcomes along with regulatory pressures. The technology will take at least 7 years to fully commercialize resulting in high operating cost. As such, funding from government bodies could ease out the industry pressure.

Segment Analysis:

By application, the functional 3d printed tissue is segmented into organ transplants, dental and biosensors. Organ transplant application segment is expected to dominate the market throughout the forecast period with over 65% of the market by end of forecast period.

Regional Analysis:

Among regions, North America and Europe are expected to dominate the market throughout the forecast period. Moreover, North America is expected to grow at a fastest rate owing to high spending on R&D and presence of leading companies in the region. Moreover, the region accounts for highest number of organ transplant surgeries carried out in last five years – highest worldwide. 

As per the initial study carried out by CA, North America and Europe are expected to account for over 85% of overall functional 3d printed tissue market. Healthcare providers are seeking this technology to manage the growing demand for organ transplant in the country. Growth in these regions is expected to be further driven by macroeconomic factors. The region as a whole spends over 5% of its GDP on research and GDP. Moreover, healthcare spending is highest in this region with North America accounting for 16.7% and Europe 10% of overall GDP in 2015. 

Asia Pacific is expected to be driven by Australia and Japan. According to Organdonor, donation rate in Australia is nearly 17 per million populations. The country is pioneer in the field of 3d bioprinting research. Griffith University's Menzies Institute in support with National Health and Medical Research Council is taking step towards creation of 3d printed tissue and bones. Moreover, the initiative taken by Australian government towards setting up of US$ 2.7 Mn bioprinting center will boost the overall market in near future. Market in the region is expected to commercialize in next 15 years. The region is at nascent stage and will take years to commercialize. Most of the projects are expected to be at preliminary stage till the forecast period.

Competition Landscape:

Some key players engaged in the market are Aspect Biosystems, BioBots TeVido, Organovo, Cyfuse Biomedical, 3Dynamics Systems, Luxexcel Group, Stratasys, EnvisionTEC, etc.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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