September 12, 2022 10:00 ET | Source: Persistence Market Research Persistence Market Research
New York, New York, UNITED STATES
New York, Sept. 12, 2022 (GLOBE NEWSWIRE) -- As per the latest industry analysis by Persistence Market Research, size of the global bioinks market was US$ 115.7 Mn at the end of 2021 and is projected to exhibit a CAGR of 18.6% over the forecast period (2022-2032).
Organ deterioration is very common with growing age and creates demand for 3D printed organs. Rising geriatric population, changing lifestyles, and excessive consumption of tobacco & alcohol have led to a rise in organ damage, and has thereby generated demand for bioinks.
The global coronavirus pandemic had a detrimental influence on the market since patients' main concerns revolved around COVID-19 prevention and control. As a result, fewer bioinks were used in 3D bioprinted devices since researchers were more focused on developing vaccines and medical professionals & doctors were more concerned with managing COVID-19-related infections.
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Numerous technologically advanced tissue engineering techniques are being introduced into the market. To support 3D printing applications and the development of human organs, bioinks have become an important part of the overall value chain.
Key Takeaways from Market Study
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“Rising adoption of 3D bioprinting technologies and growing global instances of organ transplants are expected to drive overall sales of bioinks,” says an analyst of Persistence Market Research.
The market for bioinks is oligopolistic in nature, and there exist a number of established competitors. Key market players focus on enhancing their product portfolios through sustained research efforts in novel product development. Market competitors are also focusing on regional expansion, product sales and distribution, and marketing.
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What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the bioinks market in its latest study, presenting a historical demand assessment of 2017 – 2021 and projections for 2022 – 2032.
The research study is based on the material (agarose, alginate, chitosan, collagen, fibrinogen, gelatin, hyaluronic acid, graphene, hydroxyapatite, cell- and tissue-derived ECM, poly (ethylene glycol) diacrylate (PEGDA), others), source (natural, synthetic), printing modality (extrusion-based bioprinting, inkjet-based bioprinting, laser-based bioprinting) application (tissue engineering & regenerative medicine, tissue transplantation, pharmaceuticals, high-throughput screening), organ (human ear, kidney, liver, heart, skin, cartilage, bones, stem cells, blood vessels, cancer research, lungs, muscles, others), and end user (medical device manufacturers, pharmaceutical companies, research & academic institutions, contract research organizations), across seven key regions of the world.
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