Tissue and Organ Generation to Become the Biggest Application Segment in the Global 3D Bioprinters Market at a 22.4% CAGR During the Forecast Period 2016 – 2022
The latest market report published by Credence Research, Inc. “Global 3D Bioprinters Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 – 2022,” reports that increasing gap between patients waiting for organ transplant and available organ donors will drive the global 3D bioprinters market.
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According to the Organ Procurement and Transplantation Network of U.S. Department of Health and Human Services suggests, every ten minutes some patient is added to the national transplant waiting list, on an average 22 people die each day while waiting for a transplant, and one organ donor can save eight lives.
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Thus, ongoing research in tissue and organ generation with 3D bioprinters is delivering positive results. According to market experts, the observed gap between patients waiting for organ transplant and organ donors could be reduced only with the help of 3D bioprinting of organs.
Tissue and organ generation with 3D bioprinting technology will also revolutionize the pharmaceutical industry. Rising demand for cost-efficient technology in drug development processes is expected to drive the 3D bioprinters market in the near future. The need for alternative drug testing methods is becoming very important because animal testing carries risk of inconsistent or false positive reactions and leads to drug rejection.
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Late-stage failures put patients at risk and increase the drug development costs. It was also estimated in the recent study that if it was possible to resolve the drug failure issues before Phase 3 of clinical trial, it would lead to save around USD1 billion per drug failure.
Thus, tissue and organ generation with help of 3D bioprinters can be considered as one of the crucial value additions in the pharmaceutical research industry. The global 3D bioprinters market in tissue and organ generation is expected to progress at a CAGR of 22.40% during the forecast period 2016 to 2022.
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