Updated on 27 November 2015
(Photo Courtesy: www.bioprintingworld.com)
The global 3D bio-printing market size was valued at USD 487.0 million in 2014 and is expected to witness significant growth and attention from healthcare researchers over the forecast period due to, the rising incidences of chronic illnesses leading to organ and tissue transplants coupled with increasing life span of individuals and limited number of organ donors.
According to market research and consulting firm Grand View Research, advancement in technology and incorporation of IT within the healthcare industry, rising geriatric population base and improving R&D efforts for the sector are likely to serve as high impact rendering drivers for this market.
As of 2015, numerous universities and research institutes have begun analyzing the prospects of bio-printed implants, organs and tissue reconstructions.
For instance, the Heriot-Watt University of Scotland created a 3D bio-printer capable of printing pluripotent stem cell cultures that may be applied for drug testing.
Another example portraying the substantial development is the recently accomplished thyroid gland transplantation in mice by 3D Bio, for treating hypothyroidism.