Pharmaceutical Companies Using 3D Bioprinting Technology For Drug Discovery
According to P&S Intelligence, North America will dominate the 3D bioprinting market in the foreseeable future, due to the rising technological advancements and surging R&D activities in the region. Moreover, the presence of a highly developed healthcare infrastructure and prominent 3D bioprinter manufacturers in the region augments the use of such printing technology in North America. Additionally, the booming population of the elderly and the growing prevalence of chronic diseases will also fuel the adoption of 3D bioprinting technology in the region in the coming years.
3D bioprinters offered by the aforementioned companies are based on syringe, laser, inkjet, and pneumatic extrusion technologies. At present, pharmaceutical companies, laboratories, and academic institutes are preferring syringe-based 3D bioprinters over others. Whereas, in the coming years, these end-users will adopt pneumatic extrusion-based 3D bioprinters at the highest rate, due to the high-resolution quality offered by the technology. In the coming years, these bioprinters will be adopted by the cosmetic industry at the highest rate, as they help in the construction of skin tissues.
3D bioprinting technology provides platforms for drug discovery and drug development, as the tissues developed through this technology help in improving drug efficacy. Additionally, the adoption of 3D bioprinting also helps in reducing the time taken for clinical trials. In recent years, the surging number of collaborations between 3D bioprinting and pharmaceutical companies for drug testing at the initial stage of clinical development, have amplified the usage of this technology worldwide. Moreover, the escalating focus of pharmaceutical companies on developing new drugs from 3D printed tissues will fuel the usage of this technology in the coming years.
Furthermore, the increasing research and development (R&D) activities being conducted to reduce the cost of 3D bioprinters will fuel the 3D bioprinting market at a CAGR of 35.9% during 2016–2022. The market was valued at $98.6 million in 2015 and it is expected to generate $792.5 million revenue by 2022. Several pharmaceutical companies, academic institutes, and laboratories are making huge investments in the development of 3D bioprinters for developing new drugs and meeting the escalating demand for 3D bioprinting in the cosmetic industry.