15 years+ Industry research experience. Only Company which focuses on small product segmentation reports.
Research report has been added to VMR product offering. According to this recent analysis, the global 3D Bioprinting market recorded USD 1,200.5 Million in 2020. Looking forward, the worldwide industry is projected to grow at a CAGR of around 20.3% during 2021-2026 to achieve USD 3,532.15 Million by the end of 2026.
Bioprinting has become known as a prominent technology for the production of artificial tissues and organs, developing the diagnosis and treatment of multiple medical conditions. Across the world, the bioprinting industries are constantly innovating in tissue engineering, drug therapies, regenerative medicine, and stem cell therapy which, in turn, are fuelling the market of 3D Bioprinting.
The factors such as the growing usage of 3D bioprinting in the pharmaceutical, industrial development in 3D bioprinters and biomaterials, cosmetology production industries, and increasing public and private funding to assist bioprinting research activities are expected to boost the 3D bioprinting market growth. Also, other factors like the rising prevalence of chronic disorders and increasing research and development investments are having a positive impact on the market growth in the forthcoming years. As the 3D bioprinting technology is observing increased adoption in the healthcare industry in developing countries, the market is likely to stimulate during the study period. Moreover, the Covid-19 outbreak has increased the expansion of drug and vaccine testing. This technology is likely to help players to manufacturer ventilators and respirators to overcome the shortage of such devices.
The ever-increasing demand for regenerative medicine & stem cell research is creating lucrative opportunities in the global 3D bioprinting market. Also, rising stem cell research projects and financial support from numerous public-private organizations are propelling the growth of the 3D bioprinting market worldwide. On the other hand, high-cost expenditure in research and development can hamper the market growth during the forecast year. Due to the COVID-19, there was a lack of production materials and availability of test kits for the medical experts as well as for the common public that can also hinder the growth of the market.
In terms of revenue, North America is leading the global market of 3D bioprinting and will continue to grow in the future. This is due to the accessibility of the increasing adoption of 3D bioprinting technologies and highly developed healthcare sectors in the emergent countries of this region. Also, the rising government funding in research and development is driving the market growth in this region. Moreover, the European region is anticipated to have the largest market revenue share during the forecast period. The market of Asia-Pacific is projected to boost due to the factors like the increasing demand for organ transplants, higher adoption of stem cell research, rising research activities, growing initiatives by market players in countries of China and India.
Cyfuse Biomedical K.K., Inventia Life Science PTY LTD, Aspect Biosystems Ltd., Vivax Bio LLC, EnvisionTEC GmbH, Allevi, Nano3D Biosciences, Poietis, Organovo Holdings Inc., 3D Cellink Global, 3Dynamic Systems Ltd, Regemat 3D S.L., and BioBots are major key players in the global 3D bioprinting market. The key market players are mainly focusing on the research and development programs to expand superior industrial applications to expand a competitive edging. Also, the market players are interested in the production capacities, collaborations, and mergers planning to make stronger their application range, and offer competitive differentiation.
This report segments the global 3D bioprinting market as follows:
Global 3D Bioprinting Market: By Component
Global 3D Bioprinting Market: By Application
Global 3D Bioprinting Market: By End-User
Global 3D Bioprinting Market: Regional Segmentation Analysis
As per research report, the global artificial intelligence in the medicine market garnered US $8.3 Billion in 2020, and is estimated to reach US $194 Billion by 2030, expanding at a CAGR of 38% from 2021 to 2030.
The term Artificial intelligence (AI) is used to describe the handling of technologies and computers to pretend intellectual behavior and acute thoughts that are similar to a human being. As artificial intelligence is increasing in the health sector, it is having a significant impact on all features of major care. The artificial intelligence in medicines related to computer solutions will help the primary care doctors to identify patients the well those who require additional attention as well as with the modified process for every person.
The future outlook of AI in medicine could include assignments that reach from easy to complex-everything from answering the telephone to clinical record survey, populace health trending and examination, remedial medication and gadget configuration, reading radiology pictures, making clinical analyses and treatment designs, and in any event, talking with patients.
The enhancement in the patient health-related digital information, the increasing requirement for personalized medicine, and rising pressure for cutting down healthcare expenditure are some major factors having a positive impact on artificial intelligence in the medicine market. Moreover, the augmenting occurrence of chronic diseases in the elderly population is another factor influencing the AI market.
Furthermore, AI technology has been playing an important role in the ongoing COVID-19 pandemic. It is also positively influencing the AI markets across the globe. Major market players are also escalating their range to meet the requirements in the current pandemic situation that is driving the artificial intelligence penetration in healthcare sectors. The expansion of the portfolio, encouraging government initiatives, rising mergers, and collaborations, product launches to support the implementation of AI in healthcare are contributing to market growth.
Top Market Players
Various market players in the global artificial intelligence in the medicine market covers Welltok, DeepMind Technologies Limited, CloudMedx Inc., GE Healthcare, Bay Labs Inc, Siemens Healthcare GmbH, Phillips Healthcare, Enclitic, Next IT Corp., NVIDIA Corporation, General Electric, Intel Corporation, General Vision, IBM Corporation, Google Inc, Biosymetrics, iCarbonX, maxQ, Koninklijke Philips, Microsoft, and TriNetX, Inc.
Regionally, the worldwide artificial intelligence in the medicine market is classified into North America, Europe, Asia-Pacific, and the Rest of the world. North America is leading the artificial intelligence market in the healthcare sector and will continue to dominate in the forthcoming years. Various factors like the high implementation of AI tools, constructive government initiatives, and increased partnerships are responsible for the market growth in the North American region. Also, the increasing aged population, rising awareness regarding the use of AI in healthcare sectors, the growing prevalence of health disorders, and the incidence of key players are other factors for the market growth in this region.
Furthermore, the Asia-Pacific market in the global artificial intelligence in medicine is anticipated to grow largely in the future. This is due to the expansion and new innovations in startups established by market players in developing countries of Asia Pacific. Also, favorable government initiatives, growing investments by numerous private companies, and cost-cutting are the other important factors projected to propel the market growth in this region.
This report segments the global artificial intelligence in medicine market as follows: