Global 3D Bioprinting Market Analysis & Forecast 2016-2022

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Global 3D Bioprinting Market

— Analysis and Forecast (2016-2022)

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Table of Contents

Executive Summary ................................................................................. 10

1 Report Scope and BIS Methodology .................................................... 18

1.1 Scope of the Report .................................................................. 18

1.1.1 Market Definition ......................................................... 18

1.1.2 Report Coverage .......................................................... 18

1.1.2.1 Market Classification ................................................ 18

1.1.3 Assumptions & Limitations........................................... 19

1.1.4 Stakeholders ................................................................ 20

1.2 BIS Research Methodology ....................................................... 20

1.2.1 Research Parameters ................................................... 20

1.2.2 Research Design .......................................................... 21

1.2.2.1 Primary Research .................................................... 22

1.2.2.2 Secondary Research ................................................ 23

1.2.2.3 Data Triangulation ................................................... 24

1.2.3 Data Analysing and Market Estimation ......................... 26

1.2.3.1 Top-Down and Bottom-Up Approach .......................... 26

2 Market Dynamics ................................................................................ 27

2.1 Market Drivers .......................................................................... 28

2.1.1 Advancement in Technology ........................................ 28

2.1.2 Increasing Need of Organs and Tissues ....................... 28

2.1.3 Increasing Geriatric Population ................................... 29

2.1.4 Rising Investments in R & D ........................................ 29

2.2 Market Restraints ..................................................................... 30

2.2.1 Lack of Skilled Professionals ........................................ 30

2.2.2 Lack of Awareness about Technology .......................... 30

2.2.3 High Cost of Bioprinters ............................................... 30

2.2.4 Biocompatibility of Biomaterials .................................. 31

2.3 Market Opportunities ................................................................ 32

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2.3.1 Start-up Dominance ..................................................... 32

2.3.2 Less Disrupted market ................................................. 32

3 Competitive Insights .......................................................................... 33

3.1 Key Developments and Strategies ............................................ 33

3.1.1 New Product Launches and Developments ................... 35

3.1.2 Business Expansion and Certification ........................... 36

3.1.3 Partnerships, Agreements and Collaborations ............. 36

3.1.4 Others .......................................................................... 40

3.2 Analysis of Leading Players in 3D Bioprinting Market ............... 41

3.3 Industry Attractiveness ............................................................ 42

3.4 R & D Analysis of Leading Players in 3D Bioprinting Market ..... 43

4 Global 3D Bioprinting Market by Technology ...................................... 44

4.1 Extrusion based 3D Bioprinting ................................................ 49

4.2 Photocuring technology ............................................................ 51

4.3 Magnetic Bioprinting/Magnetic Levitation ................................ 54

4.4 Others ...................................................................................... 55

5 Global 3D Bioprinting Market, by Application ..................................... 58

5.1 Drug Discovery & Testing ......................................................... 65

5.2 Tissue Engineering ................................................................... 67

5.3 Research and Study .................................................................. 69

5.4 Others ...................................................................................... 70

6 Global 3D Bioprinting Market, by Geography ...................................... 72

6.1 North America .......................................................................... 79

6.2 Europe ...................................................................................... 81

6.3 APAC ........................................................................................ 83

6.4 RoW .......................................................................................... 86

7 Company Profiles ................................................................................ 87

7.1 Organovo Holdings, Inc. ........................................................... 87

7.1.1 Overview ...................................................................... 87

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7.1.2 Financials ..................................................................... 88

7.1.2.1 Overall Financials .................................................... 88

7.1.2.2 Business Revenue Mix .............................................. 88

7.1.2.3 Financial Summary .................................................. 89

7.1.2.4 SWOT Analysis ........................................................ 89

7.2 Materialise NV .......................................................................... 90

7.2.1 Overview ...................................................................... 90

7.2.2 Financials ..................................................................... 91

7.2.2.1 Overall Financials .................................................... 91

7.2.2.2 Business Revenue Mix .............................................. 91

7.2.2.3 Financial Summary .................................................. 92

7.2.2.4 SWOT Analysis ........................................................ 92

7.3 Poietis ...................................................................................... 93

7.3.1 Overview ...................................................................... 93

7.4 RegenHU Ltd. ............................................................................ 94

7.4.1 Overview ...................................................................... 94

7.5 Envision TEC,Inc. ...................................................................... 95

7.5.1 Overview ...................................................................... 95

7.6 3D Biotek, LLC .......................................................................... 96

7.6.1 Overview ...................................................................... 96

7.7 Nano3D Biosciences,Inc. .......................................................... 97

7.7.1 Overview ...................................................................... 97

7.8 3Dynamic Systems Ltd ............................................................. 98

7.8.1 Overview ...................................................................... 98

7.9 Regenovo Biotechnology Co,.Ltd .............................................. 99

7.9.1 Overview ...................................................................... 99

7.10 Luxexcel Group BV.................................................................. 100

7.10.1 Overview .................................................................... 100

7.11 GeSIM ..................................................................................... 101

7.11.1 Overview .................................................................... 101

7.12 Bio3D Technologies ................................................................ 102

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7.12.1 Overview .................................................................... 102

7.13 Biobots Inc ............................................................................. 103

7.13.1 Overview .................................................................... 103

7.13 Cellink AB ............................................................................... 104

7.13.1 Overview .................................................................... 104

7.14 Accellta Ltd ............................................................................. 105

7.14.1 Overview .................................................................... 105

7.15 Advanced Solutions, Inc. ........................................................ 106

7.15.1 Overview .................................................................... 106

7.16 Cyfuse Biomedical K.K ............................................................ 107

7.16.1 Overview .................................................................... 107

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List of Tables

Table 3.1 Key Product Launches and Developments 36

Table 3.2 Key Business Expansions and Certifications 37

Table 3.3 Key Partnerships, Agreements and Collaborations 38

Table 3.4 Key Awards and Recognitions 41

Table 4.1 Snapshot of Global 3D Bioprinter Market Size, in terms of Revenue ($ Million), by

Technology, 2015-2022 47

Table 4.1 Global 3D Bioprinter Market Size, in terms of Revenue ($ Million), by Technology, 2015-

2022 47

Table 4.2 Snapshot of Global 3D Bioprinter Market Size, in terms of Sales Volume (Units), by Technology, 2015-2022 48

Table 4.2 Global 3D Bioprinter Market Size, in terms of Sales Volume (Units), by Technology, 2015-2022 49

Table 4.3 Global 3D Bioprinter Extrusion Based Technology Market Size, 2015-2022 52

Table 4.4 Global 3D Bioprinter Photocuring Based Technology Market Size, 2015-2022 53

Table 4.5 Global 3D Bioprinter Magnetic Bioprinting Technology Market Size, 2015-2022 56

Table 4.6 Global 3D Bioprinter Other Technologies Market Size, 2015-2022 58

Table 5.1 Snapshot of Global 3D Bioprinter Percentage Market Share, in terms of Revenue ($ Million), by Application, 2015 61

Table 5.2 Snapshot of Global 3D Bioprinter Market Size ($ Million) and Market Share (%), by Application, 2015-2022 62

Table 5.3 Snapshot of Global 3D Bioprinter Market Size, in terms of Revenue ($ Million), by

Application, 2015-2022 63

Table 5.4 Snapshot of Global 3D Bioprinter Market Size, in terms of Sales Volume (Units), by Application, 2015-2022 64

Table 5.2 Global 3D Bioprinter Market Size, in terms of Sales Volume (Units), by Application, 2015-2022 65

Table 6.1 Snapshot of Global 3D Bioprinter Percentage Market Share, in terms of Revenue ($ Million),by Region, 2015 74

Table 6.2 Snapshot of Global 3D Bioprinter Market Size, in terms of Revenue ($ Million), by Region,

2016 and 2022 75

Table 6.3 Snapshot of Global 3D Bioprinter Market Size, in terms of Sales Volume (Units), by

Region, 2016 and 2022 76

Table 6.4 Snapshot of Global 3D Bioprinter Market Size, in terms of Revenue ($ Million), by Region, 2015-2022 77

Table 6.1 Global 3D Bioprinter Market Size, in terms of Revenue ($ Million), by Region, 2015-202277

Table 6.5 Snapshot of Global 3D Bioprinter Market Size, in terms of Sales Volume (Units), by Region, 2015-2022 78

Table 6.2 Global 3D Bioprinter Market Size, in terms of Sales Volume (Units), 2015-2022 79

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Table 6.3 North America: Global 3D Bioprinter Market Size in terms of Revenue ($ Million), by

Country, 2015-2022 80

Table 6.4 North America: Global 3D Bioprinter Market Size, in terms of Sales Volume (Units), by Country, 2015-2022 81

Table 6.5 Europe: Global 3D Bioprinter Market Size, in terms of Revenue ($Million), by Country, 2015-2022 83

Table 6.6 Europe: Global 3D Bioprinter Market Size, in terms of Sales Volume (Units), by Country, 2015-2022 83

Table 6.7 APAC: Global 3D Bioprinter Market Size, in terms of Revenue ($ Million), by Country,

2015-2022 86

Table 6.8 APAC: Global 3D Bioprinter Market Size, in terms of Sales Volume (Units), by Country, 2015-2022 86

Table 6.9 ROW: Global 3D Bioprinter Market Size, 2015-2022 87

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List of Figures

Figure 1 Snapshot of Global 3D Bioprinter Market Size in terms of Revenue ($ Million), 2015-202212

Figure 2 Snapshot of Global 3D Bioprinter Market Size in terms of Sales Volume (Units), 2015-202212

Figure 3 Snapshot of Global 3D Bioprinter Percentage Market Share, in terms of Revenue ($

Million), by Segmentation, 2015 14

Figure 4 Snapshot of Global 3D Bioprinter Market Share (%) and Market Size ($ Million), by Technology, 2015 and 2022 15

Figure 5 Snapshot of Global 3D Bioprinter Market Share (%) and Market Size (Units),by Technology, 2015 and 2022 16

Figure 6 Snapshot of Global 3D Bioprinter Market Share (%) and Market Size ($ Million), by Application, 2015 and 2022 17

Figure 7 Snapshot of Global 3D Bioprinter Market Share (%) and Market Size (Units), by

Application, 2015 and 2022 17

Figure 8 Snapshot of Global 3D Bioprinter Market Share (%) and Market Size ($ Million), by

Region, 2015 and 2022 18

Figure 1.1 Global 3D Bioprinting Market Segmentation 20

Figure 1.2 3D Bioprinting Market - Stakeholders 21

Figure 1.3 Global 3D Bioprinting Market Study Coverage Area 22

Figure 1.4 3D Bioprinting Market – Research Flow 23

Figure 1.5 Primary Interviews Breakdown, by Player, Designation, and Region 24

Figure 1.6 Sources of Secondary Research 25

Figure 1.7 Data Triangulation 26

Figure 1.8 Top Down and Bottom-Up Approach 27

Figure 2.1 Snapshot of Global 3D Bioprinting Market Dynamics 28

Figure 3.1 Snapshot of Organic & Inorganic Strategies adopted by Key Players 34

Figure 3.2 Total Number of Strategies and Developments 35

Figure 3.3 Snapshot of Percentage share of Strategies and Developments adopted by Key Players35

Figure 7.1 Organovo Ltd – Overall Financials, 2014-2016 89

Figure 7.2 Organovo Ltd – Business Revenue Mix, 2014-2016 89

Figure 7.3 Materialise NV- Overall Financials, 2013-2015 92

Figure 7.4 Materialise NV- Business Revenue Mix, 2013-2015 92

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Executive Summary

The world of 3D bioprinting is a relatively new concept since it is still at a nascent stage. However, it is one of the

most beneficial sectors of the healthcare industry which can also prove to be highly effective in producing 3D bio

printed organs and tissues on demand, keeping in mind its universal implementation.

3D bioprinting technology is the process of crafting cell patterns in a confined space using 3D-printing technology,

where the cell function and its viability are maintained in order to help it perform exactly like an original cell. It

allows scientists to generate and assemble cellular layers using various technologies and materials. While

scientists already use the 3D printing process to create custom implants for various body parts including dental

and prosthesis in polymeric or metal materials, bioprinting implies the use of organic materials which includes

living cells thus building tissues and organs, to be considered both biological and artificial which can be termed as

‘bioficial’.

3D bioprinting can produce living tissues, blood vessels and, potentially, whole organs for its usage in medical

procedures, drug discovery & testing, tissue engineering research & study and others. The advantages of 3D

bioprinting over other fabrication techniques are: it enables fabrication of anatomically correct shapes, allows

fabrication of porous structures, has the ability to co –culture multiple cell types locally and control the delivery of

growth factors and genes, as well as has the ability to generate tissue models in high-throughput manner and

integrate vascularization.

For over 20 years, 3D printing was primarily used for prototyping. Over the last 10 years, numerous uses of 3D

printing have become viable in the market especially in the healthcare sector. 3D printed customized medical

devices – hearing aids, dental implants and prosthetics – have become quite successful among clients. The 3D

printing market has continuously evolved in the past three years, proving it to be one of the promising industries

to look up to in terms of investment. 3D printing in the Healthcare and Medical segment is at the peak of the hype

cycle, while bioprinting is on the rise. A hype cycle is graphical representation for representing the maturity,

adoption and social application of specific technologies.

Bioprinting first originated in 2003 and still remains at a ‘greenhorn stage’. Scientists from all around the world

are trying to put forth their research and innovation into this new field of bioprinting. 3D bioprinting is gradually

emerging as an area which is garnering attention from a lot of academicians. Some of these researchers have also

recently opened start-up firms with the aim of commercializing the technology over the next decade or so.

It is anticipated that the 3D bioprinting market has tremendous potential: it requires hardware (bioprinters),

software (CAD), biocompatible materials (bio-ink- an ink consisting a slurry of cells and bio-paper -a gel that

creates a supportive matrix for the ink to thrive on), each of which has the ability to grow into separate niche

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industries. The report covers various aspects such as technological progress, its use in different industry verticals,

and its geographical reach to evaluate the 3D bioprinting market. Various academic research programs have also

been focusing on this sector to assess new evolving opportunities.

The figure given below provides a snapshot of the global 3D bioprinters market from 2015- 2022 in terms of

revenue and sales volume.

Figure 1

Snapshot of Global 3D Bioprinter Market Size in terms of Revenue ($ Million), 2015-2022

Expert Views, Annual Report, Secondary Research and BIS Research Analysis

Figure 2

Snapshot of Global 3D Bioprinter Market Size in terms of Sales Volume (Units), 2015-

2022


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In 2015, the global 3D bio printer market generated total market size of $XX million and the market is estimated

to multiply extensively and reach $XX million by 2022. The main reason for this increase is the growing need of

3D bioprinting technology in pharmaceutical industry, universities, research labs, hospitals, clinics and other

essential areas. These sectors have shown tremendous growth in the 3D bioprinting market for various

applications such as Drug Discovery and Testing, Tissue Engineering, Research & Study among others.

Advancements in 3D bioprinting technologies coupled with the high demand for organs and tissues, government

initiatives & rising investments for R&D, customization of products and competitive advantages are some of the

key drivers that boost the growth of the 3D bio-printer market globally.

A good variety of 3D bioprinters have been developed in the recent years and are still being developed from high

cost to low cost 3D bioprinters, many of them are yet to be launched in the market. Some companies like

Organovo, Poietis etc are still into research and are providing tissue models and services. 3D bio printer

manufacturers across the world have started focusing on bringing forth this technology from research to

commercialization. Envision TEC, RegenHU Ltd, Biobots Inc, Cellink AB, Ourobotics, Advanced Solutions Inc,

Gesim, 3Dynamic system, n3d bio systems are some of the companies that are selling their 3D printers in the

market. Envision TEC is the only company among the leading players of the mainstream 3D bioprinting market

that has invested into this sector and has set itself amongst the topmost players of the bioprinting market. The

printers of Envision TEC, Regenhu Ltd, Advanced Solutions Inc, GeSIM are priced around $XX thousand whereas

some of the companies like Biobots Inc have priced their printers at $10 thousand. The low priced and efficient

Biobot’s Biobot 1 3D bioprinter has set itself apart from all others and has contributed in making Biobots one of

the leading players of the 3D bioprinting industry.

A number of start-ups have come up in the 3D bioprinting market; some of these being spin outs from university

researches. Examples include TeViDo BioDevices (focused on printing breast tissue), Aspect Biosystems (focused

on printing tissue models for toxicity testing) and SkinPrint (focused on developing human skin) are to name a

few.

Competitive Landscape

The 3D bioprinting market is associated with different types of bio-printer manufacturers, bioprinting material

manufacturers, and software and service providers. The global 3D bioprinter market is mainly dependent on the

cost of 3D bioprinters, diversity and compatibility of biomaterials along with different types of technology used by

these 3D bio-printers. As a result, a number of opportunities (like providing low cost 3D bioprinters,

commercialization of research based 3D bioprinters) are now emerging from other market players who are willing

to bear high risks and cost of the equipment involved in the industry. The competitive landscape for the 3D bio-

printer market exhibits an inclination towards companies adopting key strategies and developments such as

mergers & acquisitions, partnerships & collaborations, product launches and awards among others.

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The consequences of the emerging strategies and developments in the field of 3D bio-printers are already shaping

the market, in the form of innovative products and technologies. Some of the companies preferred launching new

products in the market to increase the customer base and expand the horizons of 3D bioprinting applications,

while other companies adopted the strategy of agreements, partnerships and collaboration. Partnerships,

agreements and Collaboration was the most popular strategy adopted by the industry players.Mergers and

acquisitions proved to be the least adopted strategy by companies in the 3D bioprinting market.

Market Sizing of the Global 3D Bioprinter Market

The global 3D bioprinters market has been categorized into several key components such as technology

(extrusion based, photocuring based, and magnetic based technology among others), applications (drug discovery

& testing, tissue engineering, research & study among others) and geography (North America, Europe, APAC and

Rest of the World).

The following graph gives a snapshot of the market share in terms of revenue, by technology, by application and

by geography.

Figure 3

Snapshot of Global 3D Bioprinter Percentage Market Share, in terms of Revenue ($

Million), by Segmentation, 2015


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Extrusion based technology held the highest; XX% of the total market share in terms of revenue, by technology in

2015. It was followed by photocuring technology which held XX% of the total market share in terms of revenue,

by technology in 2015.

Drug discovery & testing held the highest; XX% of the total market share in terms of revenue, by application in

2015. It was followed by tissue engineering which held XX% of the total market share in terms of revenue, by

application in 2015.

North America held the highest; XX% of the total market share in terms of revenue, by region in 2015. It was

followed by Europe which held XX% of the total market share in terms of revenue, by region in 2015.

Figure 4

Snapshot of Global 3D Bioprinter Market Share (%) and Market Size ($ Million), by

Technology, 2015 and 2022


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Figure 5

Snapshot of Global 3D Bioprinter Market Share (%) and Market Size (Units),by

Technology, 2015 and 2022


With the advancement in 3D bioprinting technology it has become prevalent in various applications of the

healthcare industry. For the year 2015, the total shipments of 3D bioprinters held XX% share of global 3D

bioprinter shipments. Around 980 units of 3D bioprinters were shipped in 2015 and is estimated to cross 4929

units of 3D printers by 2022. Extrusion based technology holds around XX% of market share in terms of revenue,

generating over $XX million for the year 2015. Many healthcare sectors prefer this technology because of its

versatility, high speed and compatibility with various bioinks. The photocuring technology printers sales is

expected to increase from 231 units in 2015 to 1280 units in 2022 because of the increasing need of highly

intricate and complex tissue models which can be made using this technology.

The widening supply demand gap for organ transplants is a huge unmet need which has made the 3D bioprinting

industry to be highly disruptable in the upcoming years. The eventual goal of researchers is to be able to produce

bioprinted organs for organ implants. The market is expected to progress gradually over the coming years with

the focus of shifting from research to commercialization. The early success of the bioprinted organ transplants is

likely to provide additional boost in subsequent years.

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Figure 6


Application, 2015 and 2022


Figure 7

Snapshot of Global 3D Bioprinter Market Share (%) and Market Size (Units), by

Application, 2015 and 2022


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The drug discovery and testing sector contributed the largest market share towards global 3D bioprinter market in

2015. It occupied XX% of global 3D bioprinter market in 2015. Tissue engineering application followed by

research & study application vertical is going to be the next biggest application sectors for 3D bioprinter market

after drug discovery and testing application This is because of the increasing need of viable tissues and organs

specifically required for repairing or replacing portions of or whole tissues (i.e cartilage, blood vessels, bladder,

skin, muscle, bones etc)

Figure 8


Region, 2015 and 2022


The above figure depicts the revenues of 3D bioprinter market in various geographical regions. In the year 2015

and 2022. The market is dominated by the North American region and Asia Pacific is expected to grow at the

highest rate of XX% in the coming years (2016-2022). The dominance of North America is mainly due to

advanced infrastructure, investments for dedicated R&D facilities and the continuous development of 3D

bioprinting technologies and materials. North America holds the highest market share in global 3D bioprinter

market and generated total revenue of $XX million in 2015 and is expected to reach around $XX million by 2022.

The U.S and Canada have been recognized as the major markets for 3D bioprinter market in North America. The

U.S is the largest 3D printing market not just in North America but globally as well

Europe occupies the second largest share in the 3D bioprinter market in terms of revenue followed by APAC in

2015.The same trend is expected to continue for the year 2022.

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1 Report Scope and BIS Methodology

1.1 Scope of the Report

The report constitutes of a thorough study of 3D bioprinting market keeping in mind its importance, evolution,

rapid growth and the immense potential it has to make a significant change in the healthcare industry. The report

covers the 3D bioprinting section of the overall 3D printing industrial domain. The 3D bioprinting market is still in

an emergent stage where the companies (especially startups) are rapidly growing so as to gain a better hold in

the market. The scope of this report is specific to 3D bioprinting which involves live cells to create tissues and

organs for various applications. The market has been studied on the basis of type of technologies used and the

usage of 3D bioprinted constructs in various industry verticals. It has also been studied on the basis of geography

to gain an idea of the extent of expansion of this evolving technology in different regions of the world.

1.1.1 Market Definition

The 3D bioprinting market has been defined on the basis of various factors contributing to the overall growth of

this technology in the 3D printing industry as well as the healthcare industry. In the 3D printing industry ,3D

bioprinting is one the most developing sectors primarily due to the impending need of organ and tissues for

various applications like drug discovery & testing, tissue engineering, regenerative medicine , research & study

and others. 3D bioprinting technology also has the potential to change the way the healthcare industry is

operated in the current scenario. The factors that have made this emerging market develop further are:

technological advancement, increase in the percentage of geriatric population, improvement in healthcare

infrastructure and an increase in investment in research and development sector.

The market has been categorized and defined on the basis of technology (extrusion based, photocuring based,

magnetic bioprinting, and others), applications (drug discovery & testing, tissue engineering, research & study

and others) and geography (North America, Europe, APAC and RoW).

1.1.2 Report Coverage

1.1.2.1 Market C lass i f i cat ion

The following figure shows the basis of classification of 3D bioprinting market in this report.

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Figure 1.1

Global 3D Bioprinting Market Segmentation

BIS Research Analysis

1.1.3 Assumptions & Limitations

The market has been taken specific to ‘3D bioprinting’ section of the 3D printing industry. This section

mainly constitutes taking only bioinks (slurry of living cells) for making 3D bioprinting constructs

.Osteoink (calcium phosphate paste) has also been considered but has not been much focussed.

The market has been mapped on the lines of various technologies used in 3D bioprinting (extrusion

based, photocuring based, magnetic based and others), various applications (drug discovery & testing,

tissue engineering, research & study and others) and various key geographical regions

The market has been calculated taking into account the number of 3D bioprinters globally and not the

whole 3D bioprinting industry which includes materials, softwares and services too.

The geographical areas have been segmented into North America, Europe, Asia Pacific (APAC) and Rest

of the World (RoW). For better analysis, country analysis has also been done.

The market size for global 3D bioprinters is considered in terms of market value (revenue) and sales

volume(units)

The 3D bioprinting market size by technology is analysed in terms of market value and sales volume

The 3D bioprinting market size by application is analysed in terms of market value and sales volume

The 3D bioprinting market size by geography is analysed in terms of market value and sales volume

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The base year considered for the calculation of market size was 2015. Instances where the market size

for the year 2015 was not available from primary or secondary sources, the values were estimated

based on expert inputs

The market size is estimated for the year 2016 and projected from the year 2016-2022

The compound annual growth rate (CAGR) is calculated between 2016-2022

1.1.4 Stakeholders

Figure 1.2

3D Bioprinting Market - Stakeholders


1.2 BIS Research Methodology

1.2.1 Research Parameters

The research parameters constitute of the major factors that are impacting the targeted market. The figure below

gives the list of factors that were analyzed to estimate and forecast the 3D printing materials market.

Material Manufacturer

Material Supplier

Service Providers

System Providers

OEMs

Government Associations

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Figure 1.3

Global 3D Bioprinting Market Study Coverage Area


1.2.2 Research Design

The research methodology design adopted for this specific study includes a mix of data collected from secondary

and primary sources. There is an exhaustive use of primary sources (in-house experts, industry leaders, market

players and independent consultants) and secondary sources (a host of paid and unpaid databases) along with

analytical tools in order to build the forecast and predictive models.

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Figure 1.4

3D Bioprinting Market – Research Flow


1.2.2.1 Pr imary Research

The primary sources are comprised of industry experts from 3D printing material industry and related industries

as well as preferred suppliers, manufacturers, distributors, administrators, solution providers, technology

developers related to the segments of this industry’s value chain. All primary sources were interviewed to obtain

and verify critical qualitative & quantitative information and assess the future prospects.

In the extensive primary research process undertaken for this study, the primary sources – industry experts such

as CEOs, vice presidents, marketing directors, technology & innovation directors, founders and related key

executives from various key companies and organizations in the 3D bioprinting industry have been interviewed to

obtain and verify both qualitative and quantitative aspects of this research study.

Data Points taken from Primary Sources include:

Validation of 3D bioprinting market size in terms of value

Validation of the 3D bioprinting market numbers for solutions, materials, systems, technology,

application, and geography

Percentage split of individual markets for geographical analysis. Forecast for various segments of

overall markets and validation of the forecasted data

Pricing estimation and validation of the pricing and forecast model

Bottom-UpTop-down

Scope Definition Research Design Sample Selection

Report

WritingData Validation Data Analysis Data Collection

Primary

Interviews

Observation/

Feature

Mapping

Primary DataSecondary

DataPrimary Interviews/

Secondary Research

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Technological landscape, competition between technologies, industry preferences, and market

dynamics

Figure 1.5

Primary Interviews Breakdown, by Player, Designation, and Region


1.2.2.2 Secondary Research

In the extensive secondary research process for this research study, several hundreds of secondary sources such

as certified publications, articles from recognized authors, white papers, annual reports of companies, gold

standard & silver standard websites, directories, and databases were used to identify and collect information

helpful to crack the market both from qualitative and quantitative standpoints.

Secondary research was employed to obtain crucial information about the industry’s value chain, market’s

monetary chain, total pool of key players, and end-user applications. It also assisted in market classification and

segmentation according to industry trends to the bottom-most level, geographical markets and important

developments from both market and technology oriented perspectives.

Data points taken from secondary sources include:

Segmentation breakups, split-ups, and percentage shares

Data for market value and volume.

Key industry trends of the top players of the market

Qualitative insights into various aspects of the market, key trends, emerging areas

Quantitative data for mathematical and statistical calculations

Company statistics (quantitative) and developments (qualitative) for company profiles.

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Figure 1.6

Sources of Secondary Research


1.2.2.3 Data Tr iangulat ion

This research study involves the usage of extensive secondary sources, directories, company websites, and

annual reports. It also makes use of databases such as Hoovers, Bloomberg, Business-week, Factiva, and One-

Source, to collect useful and effective information for an extensive, technical, market-oriented, and commercial

study of the global 3D bioprinting market.

The process of market engineering involves calculation of the market statistics, market size estimation, market

forecast, market crackdown, and data triangulation (the methodology for these quantitative data processes is

explained in the further sections). An extensive primary research study was undertaken to gather information,

and authenticate the critical numbers arrived through segmentation types, industry trends, and key players of

each type of products in the market.

PARAMETERS SOURCES

MARKET SIZE(Value)

• Company Financials

• Magazines

• Journals

• Press Releases

• Paid Databases, and

• The BIS Data Repository

REVENUE OF COMPANIES

• Annual Reports

• Company Websites

• Public Databases, and


QUALITATIVE INFORMATION (Market Dynamics,

Market Trends)

• Company Websites

• Annual Reports

• Press Releases, and


25



Figure 1.7

Data Triangulation


SECONDARY SOURCESPRIMARY SOURCES

• Annual reports of key industrial

players

• SEC Filings

• 10K reports

• Investor Presentations

• Bioprinting related Articles

• Journals

• Press Releases

• Paid & Unpaid Databases

• Leading 3D Bioprinting

Companies Websites

DEMAND SIDE

SUPPLY SIDE

INFORMATION SOURCED

Key Players Competitive Landscape

Influencing Factors

Opportunities/

Challenges

Market Estimates

Market Size and

Market Share (YEAR)

Geographical

Analysis

PRIMARY SOURCE

SECONDARYSOURCE

DATA

TRIANGULATION

26



1.2.3 Data Analysing and Market Estimation

1.2.3.1 Top-Down and Bottom-Up Approach

Figure 1.8

Top Down and Bottom-Up Approach


Global

Market

by value

Summation of the product of X and Y for all

regions

Average Selling Price (ASP) per region for each type of product

segment (Y)

Geographical split to the number of units sold (X)

Number of units of bioprinters sold by companies globally

Total global 3D bioprinter market size ($ Million)

Percentage split of 3D bioprinter market, by technology

Percentage split of 3D bioprintermarket, by application

Percentage split of 3D bioprinter market, by

geography

Percentage split of

3D Bioprinter

market, by

country

27



2 Market Dynamics

It is essential for a firm to consider certain factors to understand the dynamics of the market. The market

dynamics section of the report examines the diverse factors which govern the process of manufacturing, services

and usage of 3D bioprinting and its technologies globally. This analysis will provide an in-depth understanding of

the direction in which the market is headed and the impact of various factors on the same. This segment of the

report will take into account, factors such as market drivers, market restraints and market opportunities, listing

and analyzing several factors that positively and negatively affect the 3D bioprinting market.

Figure 2.1

Snapshot of Global 3D Bioprinting Market Dynamics


DR

IVE

RS

• Advancement in technology

• Increasing need of organs and tissues for Implants and drug discovery

• Increasing geriatric population

• Rising investment in R & D

D

R

O

RE

STR

AIN

TSO

PP

OR

TUN

ITIE

S

• Lack of skilled professionals

• Lack of awareness about technology

• High cost of bio printers

• Biocompatibility of biomaterials

• Startup dominancy

• Less disrupted market

28



3 Competitive Insights

This section includes the strategies adopted by companies to expand their market horizon. This is followed by the

competitive insights to analyze the competitive scenario of the 3D bioprinting market.

3.1 Key Developments and Strategies

The 3D bioprinting market has witnessed new developments in different fields by various market players. These

market players have adopted copious strategies to maintain their position amongst the leading companies in this

emerging market domain. Although many companies are coming up with various forms of inventions, Organovo

Holdings Inc., has maintained and substantiated its position to be one of the most speculative stocks out there for

the investors. This emerging market has attracted a lot of small companies, most of whom deployed resources

into the development of versatile 3D bioprinters that are capable of printing a variety of 3D biological tissues and

organs. The companies in this nascent yet emerging domain are applying strategies to maintain their position in

the market by implementing g strategies that are discussed below.

Some of the strategies covered in this segment are product launches, business Expansions, agreements,

partnerships & collaborations and awards & recognitions

Figure 3.1

Snapshot of Organic & Inorganic Strategies adopted by Key Players


ORGANIC GROWTH STRATEGIES INORGANIC GROWTH STRATEGIES

New Product LaunchesPartnerships/Agreements/

CollaborationsExpansions Mergers & Acquisitions

3D Biotek LLC

GeSiM

Nano3D Biosciences and

SBH Sciences partner to

offer services in lead

compound optimization

GeSiM partnered with

Neutec Group Inc.

GeSiM partnered with

Genn Dih Co.,Ltd

Envision TEC

Organovo

Holdings, Inc

GeSiM expanded its

business by

introducing a new lab

space in Shanghai,

China

Nano3D

Biosciences

Organovo collaborated with

UCSF to develop 3D Bio

printed tissues

Also collaborated with Yale

School of Medicine

3D Bioplotter

PolyPro MAX 3SP

Synergistic 3D Cell

Culture

Autoclavable

Polycarbonate Chambers

3D Insert-PS( Polystyrene)

ExVive 3D Human

Liver Tissue

COMPANY

NAME

29



Figure 3.2

Total Number of Strategies and Developments


30



Figure 3.3

Snapshot of Percentage share of Strategies and Developments adopted by Key Players


31



4.1 Extrusion based 3D Bioprinting

Extrusion bioprinting involves the constant of a particular printing material and cell line from an extruder, which is

a type of mobile print head. Extrusion printers print cells layer-by-layer, just like 3D printing to create 3D

constructs. In addition to just cells, extrusion printers may also use hydrogels infused with cells. This tends to be

a more controlled and gentler process for material or cell deposition, and allows for greater cell densities to be

used in the construction of 3D tissue or organ structures. However, such benefits are set back by the slower

printing speeds entailed by this technique. Extrusion bioprinting is often coupled with UV light, which photo

polymerizes the printed material to form a more stable, integrated construct. This mix of technologies is used by

Biobots which uses both extrusion and photocuring technologies.

Biocompatible polymers, cell spheroids and many hydrogels have been shown to be compatible with

microextrusion. Microextrusion printing has been utilized to develop aortic valves, tumour models and vascular

tissues. Printing high resolution complex structures using microextrusion requires a longer time, however, the

microarchitecture is well developed in the printed constructs. In addition to this, the cell viability has been

reported to be over 90% in the biological constructs developed using microextrusion method. The advantage of

this method over other methods is that, here, slightly viscous bioinks like cell spheroids, hydrogels, and

copolymers can be used. It can create cells with high cell density and can also print vascular constructs.

This technology is currently leading in the market since a variety of bioprinters based on extrusion principle have

been developed around the world and many are even commercialized. Most of the commercially available 3D

bioprinters available are based on some proprietary version of a basic syringe/pressure-based extrusion of both

paste-like polymeric substances and hydrogels (also known as bioinks in certain cases), which are basically gel-

like substances containing high quantities of water and living cells. A very important point in Extrusion based

technology is that it enables bioprinting anatomically correct porous constructs which is very challenging using

other means (except for modifications of Stereolithography).

The shipments of extrusion based 3D bioprinters is the highest in the market evolving from the fact that they are

widely used by leading companies and they allow working in the a sterile environment which is not in case of

other technologies

Extrusion bioprinting consists of favorable prospects in fabricating organized tissue constructs by simultaneous

dispensing of cells and matrix materials to repair or replace damaged or diseased tissues and organs.

This technology is widely used in the market today because of its innate capability to generate constructs with

spatial variations of cells along multiple axes with high geometric complexity. Moreover this technology has

increased dominance in the market with respect to others as these printers allow working in a sterile

https://en.wikipedia.org/wiki/Extrusion

https://en.wikipedia.org/wiki/3D_printing

https://en.wikipedia.org/wiki/Ultraviolet

32



environment. The wide applications of syringe based 3D bioprinters include fabrication of scaffolds, cell strips

printing and tissue printing.

This technology is rapidly growing that has made substantial progress during the last decade.

It possesses great levels of versatility in printing various types of tissues .While most implementations are still in

the developmental phase, the various applications of extrusion based 3D bioprinting is the development of human

tissue models, therapeutics & biosurgery, drug discovery, system engineering, organ modules, regenerative

medicine, pharmacokinetic and other biological studies.. The company Organovo created blood vessels to be

printed using cells cultured from single individual. The company also implanted bioprinted nerve grafts into rats

and anticipates human trials.

Extrusion based bioprinting technology has several advantages over other bioprinting techniques including laser

assisted based bioprinting technology.It has greater printing speed, which can facilitate scalability in a relatively

short period of time. In addition, Extrusion based technology enables bioprinting a wide array of bioinks, including

cell aggregates, cell-laden hydrogels, micro-carriers, and decellularized matrix components while other techniques

can only facilitate printing cell-laden hydrogels. Bioprinting high cell density is currently feasible only with

extrusion based technologies and the process is biocompatible with reasonably small process-induced cell damage

and injury compared to other techniques. Moreover, the technology is easy to implement and can be used by

operators who have limited exposure to the technology.

Extrusion based 3D bioprinting technology is used in the making of human tissue models specific to tissue

engineering,3D bioprinted anatomical models, in therapeutics and biosurgery , drug testing, cancer

cardiotoxicity, hepatoxicity. In addition it is also used in Life sciences research, regenerative medicine, bone tissue

engineering and pharmaceutical development.

Some of the examples of companies using extrusion based 3D bioprinting are Organovo’s NovoGen MMX, Envision

TEC’s 3D Bioplotter Manufacture Series and Developer Series, RegenHU’s 3D Discovery and Biofactory, 3D

Bioprinting Solutions’ Fabion, Biobots’ Biobot1, Advanced Solutions’ BioAssemblyBot, GeSim’s Bioscaffolder 2.1,

3Dynamic Systems’ Alpha & Omega, Bio3D’s SYN^ and Explorer and some new entries like Cellink’s Inkredible

and Ourobotics’ Revolution.

Despite its versatility and great benefits, extrusion based technology has some disadvantages compared to other

technologies which includes the resolution of the technology which is very limited .The minimum feature size is

generally over 100 micrometer which is considerably lower than the resolution in other bioprinting techniques.

Therefore, cells cannot be precisely patterned and organized due to limited resolution.

This is one of the most commonly used technology which has currently the largest market in 3D bioprinting.

33



Table 4.3

Global 3D Bioprinter Extrusion Based Technology Market Size, 2015-2022

2015 2016 2017 2018 2019 2020 2021 2022

CAGR %

(16-22)

Revenue ($Million) XX XX XX XX XX XX XX XX XX

Shipment (Units) XX XX XX XX XX XX XX XX XX


The Extrusion based technology of 3D bioprinting is expected to grow from $XX million in 2015 to $XX million in

2016 and further estimated to reach to $XX million in 2022. Besides, the shipment of Extrusion technology based

3D bioprinters are estimated to reach to 4,929units by 2022, from 1,220 units in 2016 at an estimated CAGR of

XX%, between 2016 and 2022. This high growth of the technology is owing to the fact that it provides high

versatility, high speed and is compatible with various bioinks.

4.2 Photocuring technology

Photocuring technology used in 3D bioprinting uses light or photons to cure biomaterials and hence form the 3D

printed constructs. Photocuring is a broad segment which consists of its two forms which are in use in the 3D

bioprinting industry. These include laser based photocuring technology and blue light technology. These two

technologies are used by Poietis and Biobots respectively which are two of the most well-known companies in the

global 3D bioprinting market. With regard to the way Biobots is using this technology and the high investment in

research and development by Poietis , the market for this technology seems to have a bright future in the forecast

period (2016-2022).

Biological constructs developed using laser-assisted bioprinting can yield resolution at a single cell per droplet.A

major company into 3D bioprinting using this technology is Poietis which delivers its solutions based on this

technology. The tissue organization and cell population can be easily controlled in laser-assisted bioprinting, which

makes it a potential technique to develop tissue equivalents having similarities in both structure and function of

the native tissue.

This technology was not very popular in the initial stages however, it has been increasingly popular nowadays for

the fabrication of engineered tissues for regenerative medicine applications. This technology is known to give high

resolution which is why it is considered for making complex tissues which require sharp resolution.

An advantage of this method over others is that it’s a nozzle free printing method and hence clogging of

bioink/cells can be completely avoided. Moreover, it can be applied to generate scaffold free 3D cell systems

34



through a layer by layer technique by combining cell solutions with materials that are able to form stable gels.

Laser bioprinting is demonstrated as a promising tool for the ex vivo generation of tissue replacements.

The company Poietis which uses this technology has raised $XX million in its first financing round, of which $XX

million came from the equity crowdfunding platform WiSEED to develop laser assisted 3D bioprinting technology.

Poietis’ pioneering laser 3D printing technology stands out because it allows them to assemble live cells into pre-

determined 3D structures with a resolution of up to 20 micrometers which is a much higher level of precision than

other 3D bioprinting technologies. This increased precision is an important benefit for creating artificial models

that are able to match the physiological characters of human skin tissue. Poietis has signed a major R & D

agreement with leading chemical firm BASF to develop advanced 3D printed skincare applications. Poietis has

rising hopes to accomplish many goals using this technology by 2017.

Using this printing method, bone constructs and skin with cells for implantation have been successfully fabricated.

This method also is compatible with broad range of viscous liquids.

Another company that has recently came up in the 3D bioprinting market and is using photocuring technology in

the form of blue light technology is Biobots Inc. It is a startup that has recently raised over $XX million on equity

crowdfunding platform FundersClub and is adopting a different approach to the market. It is offering affordable

desktop bioprinters to researchers and pharmaceutical companies instead of printing actual tissue samples and

selling those to researchers.It has kept its printer price quite inexpensive and affordable, $XX and the bioink price

at $XX per 100ml which has made it one of the leading companies in the market to look for investment.

Biobots uses blue light technology to rapidly cure their biomaterials without damaging the cells within. Its

machines support printing of dozens of materials and cells at extremely high resolution.

Table 4.4

Global 3D Bioprinter Photocuring Based Technology Market Size, 2015-2022

2015 2016 2017 2018 2019 2020 2021 2022

CAGR %

(16-22)

Revenue ($Million) XX XX XX XX XX XX XX XX XX

Shipment (Units) XX XX XX XX XX XX XX XX XX


The photocuring based technology of 3D bioprinting is expected to grow from $XX million in 2015 to $XX million in

2016 and further estimated to reach to $XX million in 2022. Besides, the shipment of Extrusion technology based

3D bioprinters are estimated to reach to 1280units by 2022, from 291 units in 2016 at an estimated CAGR of

XX%, between 2016 and 2022. This high growth of the technology is owing to the fact that it provides high

35



resolution and there is an increasing need of making intricate models for various organs which this technology

gives as an edge.

The strength of photocuring technology is that it is the highest resolution bioprinting technology. There are

various applications which are in an increasing need of making intricate 3D bioprinted models for testing,

research, drug discovery and implantation. The R & D in concern with this technology is the biggest driver to

make this technology more widespread in nature. The major restraints for this technology for smooth acceptance

by the market is the extortionate price of the high power laser that is used for photocuring by using laser assisted

technology

On the contrary, the use of blue light to cure biomaterials by Biobots has made this technology widely accepted

and popular in the market. However, this technology is opportune enough to make highly intricate and detailed

models which is its unique selling point, though expensive but of high precision and quality. Hence the market for

this technology is expected to increase surprisingly over the forecast period.

36



5.1 Drug Discovery & Testing

Drug discovery is the process through which potentially new medicines are identified. Drug discovery and testing

processes today are associated with higher risk factor, longer time duration, and relatively more expensive. The

pharmaceutical industry, despite high rate of investments, have been subjected to reduce risk and costs. Due to a

growth in ageing societies in various countries and the rise of chronic diseases,, there is an impending need for

development of better therapeutics. Hence, 3D bioprinting finds viable applications in drug discovery where there

is a need of 3D bioprinted organs so as to help manufacture disease specific drugs for curing various types of

illnesses whose cure is still not found, moreover, it is expected to occupy the drug discovery and testing segment,

given that 3D bioprinting has a strong head start in this sector.

Drug discovery is quite time consuming and expensive, and is getting even more expensive as the safety and

efficacy standards are being raised even higher. Normally, a new drug developed from its initial drug candidate

screening phase to the final FDA approval takes about 7 -10 years and may have a large failure rate at each of

the development phases. Usually all the initial drugs in vitro screening were based on 2D monolayer cell culture.

Drugs failure is mainly due to two main factors: the first is that they do not end up working properly, and that

there are issues regarding their safety. As such, one of the most important steps in developing a new drug is

target identification and validation. And this can be achieved in a better way by testing them on living organs

either provided by a living being or 3D constructed by using 3D bioprinting. Hence, 3D bioprinting currently is the

only alternative to pave a better way to solve this problem of drug testing on living organs.

Nowadays, it is well known that the results from 2D monolayer cell culture have a poor correlation with both in-

vivo animal and in- vivo human clinical data. Therefore, starting from an in vitro model that correlates well with

in- vivo animal model and human patients is critical in reducing drug development cost and time duration to

market. Although 3D cell culture has been recognized as a better in vitro model for drug screening and toxicity

studies, there has been no real transition from 2D to 3D cell culture, simply because prior to 3D Biotek's novel 3D

Scaffolds there were no satisfactory and easy-to-use 3D cell culture devices available on the market.

By implementing 3D bioprinting technology, drug screening becomes more efficient and drug controlling &

releasing technology results in being more personalized. Due to technical limitations, new drug development

usually cost $XX billion to $XX billion in average in the time expansion of 10 to 20 years.

The drug discovery market consists of NP genotyping, gene expression profiling, antibody-based technologies,

genetic surrogate for drug action, tissue screening, combinatorial chemistry, target validation technologies, and

biochips and microarrays.

37



Printed functional human tissue models with human cells provide a way for drug screening in the in vitro and

toxicity testing, and dismiss the factor of species differences during a comparison to the animal model. Compared

with traditional high-throughput screening, these models can reflect the complex drug activity in a better manner

and therefore increase the success rate of drug screening and bridge the gap between preclinical test and clinical

test. All in all, drug screening model and evaluation services can be applied to various diseases, for instance,

hepatotoxicity, ovarian cancer, lung cancer, breast cancer, diabetes, obesity and cardiovascular diseases, etc.

The goal of many companies venturing into 3D bioprinting is to make intricate models for better drug testing and

discovery.

RegenHU’s 3D printing technology allows effective manufacturing of a large variety of 3D multilayer synthetic

organomimetic in vitro models. This results in a much more realistic analysis of induced effects of active

substances on highly dynamic networks of proteins and signal transduction pathways in tissues, cell-cell and cell-

extracellular matrix interactions. Organovo developed human liver tissue that could be used for toxicology testing,

metabolic testing and drug- drug interactions. Besides being a functional tissue in shape and size, one of the

major characteristics is that the tissue lasts for a number of days and weeks. It provides the ability for drug

scientists to do longer duration tests.

Some major companies that use 3D print constructs in drug discovery and testing are: 3D Biotek and Regenovo

Biotechnology.

Another application which also comes under drug discovery and testing is that of regenerative medicine. The

concepts of regenerative medicine hold the potential for augmenting organ function or repairing damaged organ

or allowing regeneration of deteriorated organs and tissue. Recent advancements in bioprinting technology have

opened up new and exciting opportunities for the development of patient-specific medical treatments.

Regenerative medicine has successfully implanted lab-grown skin, tracheas and bladders into patients — body

parts grown slowly through a combination of artificial scaffolds and living human cells. By comparison, 3D-printing

technology offers greater speed and computer-guided precision in printing living cells layer by layer to make

replacement skin, body parts and eventually, organs such as hearts, livers and kidneys. Regenerative medicine

has already proven that it can implant lab-grown versions of the first three types of organs into patients.

The key companies using their 3D bioprinting technology are Organovo Holdings Inc and Poietis which use their

bioprinted human biological tissues for applications in research and regenerative medicine.

Other major companies include 3Dynamic Systems Ltd, Cellink AB and Cyfuse Biomedical K.K. Regemat 3D is a

biotech company focusing on regenerative medicine and pioneers in the use of 3D printing for regenerative

therapies .The first level includes mostly one type of cell, such as human skin, which represent the easiest organs

38



to create. Second, tubular structures with two major cell types, such as blood vessels, pose a greater challenge. A

third level of complexity arises in hollow organs such as the stomach or bladder, each with more complicated

functions and interactions with other organs.

In terms of revenue, drug discovery and testing had the highest revenue of $XX million in the year 2015.This is

expected to increase to $XX million by the year 2016 which is further expected to increase to $XX million at a

CAGR of XX%.

In terms of sales volume, the bioprinters for use in drug discovery and testing application had the highest sales

volume of 445 units in the year 2015.This is expected to increase to 557 units by the year 2016 which is further

expected to increase to 2280 units at a CAGR of XX%. This increase is attributed to the fact the high demand of

3D bioprinted organs for in vitro drug testing.

The major market drivers with regard to this application of 3D bioprinting technology is the ever increasing need

of organs for drug discovery and testing and high rate of investment into research and development. Some major

restraints to this are: the high cost of 3D bioprinters and delay in the process of commercialization.

Drug discovery is expected to have a growing market in the upcoming years for its usage to 3D print organs for

the testing of drugs which is of a high need now.

39



6.1 North America

According to 2014 estimates, there were 122,592 people waiting for organ donation in the United States.

Similarly, one of the government gateways for information on donation service named Organdoner.gov released

that 18 people die in the United States each day for the lack of proper organ donation. There is a long waiting list

for working kidneys, lungs, livers, and hearts. In North America, about XX% of Canadians who die in hospital

engage in organ donation. The statistics shows that it works out to about XX per million – about half the rate of

countries such as Spain (XX per million) and the United States, at 26. The United States stands midway among

developed nations in donation rate with around 26 donors per million people.

There is a dire need of finding possible alternatives of having more organized donations or making or printing

organs that could reduce or even eradicate the need for donating organs in the future.

3D bioprinting is the one of the most modern alternatives to look for which has an immense potential to carve its

niche in some of the major countries like the U.S., Canada, and Mexico.

North America is fueled by several macro and micro factors, including improved health care infrastructure,

presence of a massive chronically ill and geriatric population, and high disposable income of the people.

For instance, the Wake Forest University of North Carolina presented their research initiative for development of

customized medication at the American Heart Association Scientific Sessions (AHASS) in November 2015. The

pills would be designed according to the biological profile of each patient which includes organ function capacity,

weight, gender and race.

Table 6.3

North America: Global 3D Bioprinter Market Size in terms of Revenue ($ Million), by

Country, 2015-2022

North America 2015 2016 2017 2018 2019 2020 2021 2022 CAGR %

(16-22)

US XX XX XX XX XX XX XX XX XX

Canada XX XX XX XX XX XX XX XX XX

Mexico XX XX XX XX XX XX XX XX XX

Total XX XX XX XX XX XX XX XX XX

Expert Views, Annual Reports, Secondary Research and BIS Research Analysis

40



Table 6.4

North America: Global 3D Bioprinter Market Size, in terms of Sales Volume (Units), by

Country, 2015-2022

North America 2015 2016 2017 2018 2019 2020 2021 2022 CAGR %

(16-22)

US XX XX XX XX XX XX XX XX XX

Canada XX XX XX XX XX XX XX XX XX

Mexico XX XX XX XX XX XX XX XX XX

Total XX XX XX XX XX XX XX XX XX

Expert Inputs, Secondary Research, and BIS Research Analysis

North America is the leading market in 3D bioprinting in terms of revenue with a share of highest share of XX% in

2015. Prominent research activities in the field of 3D bioprinting are boosting market growth in North America.

The various companies that have been emerged from North America and are the leading players in 3D bioprinting

industry are Organovo Holdings Inc., Envision TEC, 3D Biotek LLC, Nano3D Biosciences Inc., Biobots, Advanced

Solutions Inc., Digilab Inc., Tevido Biodevices and Neutec Group Inc.

The shipments of 3D bioprinters in North America in the year ended 2015 accounted for 644 units. This is

expected to increase to 2880 units by 2022 at a CAGR of XX.

41



7 Company Profiles

7.1 Organovo Holdings, Inc.

7.1.1 Overview

Particular Specific

Website http://organovo.com/

Contact Details

6275 Nancy Ridge Drive, Suite 110

San Diego, CA 92121

Tel : (858) 224-1000

Year of Establishment 2007

Ownership Type Public

Company Type Manufacturer

No. of Employees 100+

Net Revenue XX Million (By March 31,2016)

Subsidiaries/Parent Company Organovo U.K., Ltd, Samsara Sciences, Inc., Organovo Acquisition

Corp

Competitors Envision TEC, N3D Biosciences, Cyfuse Biomedicals

Related Products & Services Bioprinted Human Tissue Models

Other Products & Services Preclinical in Vitro Testing Services

Company Website, Annual Reports, Secondary Research, and BIS Research Analysis

42



7.1.2 Financials

7.1.2.1 Overa l l F inanc ia ls

Figure 7.1

Organovo Ltd – Overall Financials, 2014-2016


7.1.2.2 Bus iness Revenue Mix

Figure 7.2

Organovo Ltd – Business Revenue Mix, 2014-2016


43



7.1.2.3 F inanc ia l Summary

Organovo registered an overall revenue of $XX million in March 31, 2016 which was approximately $XX million

more than its previously registered revenue, or a XX% revenue profit of $XX million in March 31, 2015.This

increase in revenue was primarily attributed to profits generated from products and services due to an increasing

number of customer contracts for the exVive3D Human Liver Tissue. Two new collaborative research agreements

began during the fiscal year March 31, 2016. This further aided in generating an increased revenue of $XX million

and grant revenue of $XX million because of activities under an NIH grant that was ongoing during the first half of

the fiscal year 2016.

7.1.2.4 SWOT Analys is


• High institutional investment• Good relationships with investment banks and

investment funds • Increased analyst coverage• Highly active in research and development• Skilled, motivated and unified workforce• Powerful technology platform• Good IP (Intellectual Property) portfolio

• Potential to disrupt 3D bioprinting market.• Potential to transform therapeutic applications.• New acquisitions and partnerships• Increased income level• Venture capital

STRENGTHS

OPPORTUNITIES

• High cost• Brand portfolio• Small business units• Too many taxes

• Increased rate of interest• Tax changes• Rising cost of raw materials• High competition• External business risks

THREATS

WEAKNESSES

Organovo Holdings, Inc.

44



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Data & Analytics

Global 3D Bioprinting Market Analysis & Forecast 2016-2022