New research report offers detailed research on developments in Microfluidic Devices Market 2027

 Microfluidic Devices Market Overview

 

The term microfluidics can be defined as obtaining, preserving, screening, monitoring, and controlling fluids at a micro-level. The fluids obtained are very minute or scaled-down in quantity. The microfluidics device model is generally used to transfer, preserve, blend and separate the fluids for further testing in laboratories. This is done while the development of new cells or in the origination of medicinal drugs and injections. Microfluidics device cell capture is also needed to detect diseases and ailments such as cancer and tumors. Microfluidics testing can also be applied to gasses and other forms of chemicals. This technology has proven to be useful in many industries. The microfluidics device industry is flourishing because of its improved effectiveness and efficient handling of miniature particles.

 

The Microfluidic Devices market value is foreseen to shoot up to USD 14,296.04 Million by the end of the year 2024. It will grow at a CAGR of 19.70% throughout the forecast period. Let’s hope to see much growth in this market.

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COVID 19 Analysis

 

People across the globe are suffering from the covid19. This has weighed down the pathological labs for continuous testing and diagnosis of diseases so that they can be treated well in time. The government of every nation is investing a huge lump of their resources in research & development projects. This has made the labs and research centers more equipped than they were before.

 

As testing increased, a need arises for procuring and manufacturing more mobile microfluidics devices. This has made possible the rise in the sales of the point of care devices market which made possible the rapid testing of antigens.

 

Microfluidic Devices Market Dynamics

 

Drivers

 

The demand for genomics or complete strand of cells, and proteomes is increasing. This is the major driving force for the microfluidic devices market. The testing of microscopic cells has also become possible only with the help of microfluidic devices. As the quantity used and preserved for testing is very minute, it has made the handling less cumbersome and the results attained are quicker than primitive methods of testing

 

Opportunities

 

The major benefit of using microfluidic devices is that they use a very small quantity of chemicals which is under observation. It, altogether, lowers the cost of research. The microfluidic devices can also be connected wirelessly to cell phones. This is another boon of the advancement of scientific technology. Point of care testing is possible because of this feature.

 

Restraints

 

Businesses have to abide by the law of the land and cannot operate outside it. The rigid policies of medical authorities to provide standardized microfluidic devices may hinder the growth of the market globally. The raw material for manufacturing or assembling the testing equipment is expensive. This is another obstacle for the manufacturers of microfluidic devices.

 

Value Chain Analysis

 

Owing to unhealthy lifestyles resulting in deteriorating health, and moving up statistics of chronic diseases, it has become important to get a quicker diagnosis of diseases and finding the least hazardous cure for the same. The key players of the microfluidic devices market are launching devices, such as microfluidics device collagen gel, microfluidics device syringe pump, piezoelectric device microfluidics, microfluidics chromatography device, and others, that have made testing easier and more proficient.

 

Microfluidic Devices Market Segmentation

 

The global market of microfluidic devices can be divided into various segments. These are: based on industry, based on materials used, and based on application

 

Based on industry

 

This segment is further divided into in-vitro, or in a test tube, diagnosis, pharmaceutical products, and medical devices. In-vitro diagnosis alone had a market share of 50.6% in the year 2018. Pharmaceuticals are further sub-divided into chips that are used for lab analysis, accurate dispensing apparatus, and micro-reactors for drug synthesis. The medical devices include micro-pumps and dispensing systems, inhalers, micro-needles, etc.

 

Based on material used

 

Various kinds of materials used in the manufacturing of microfluidic devices are polymer, glass, silicon, and others. Polymer, as a material, is cost-effective and is easy to procure than glass or silicon. This is the reason why polymer holds the largest market share in microfluidic devices.

 

Based on application

 

The various places where microfluidic devices are installed or used are Pharmaceutical and Life Science Research institutions, Clinical and Veterinary Diagnostics labs, Point of Care Diagnosis and rapid testing centers, Drug manufacturing and delivery, Environmental and Industrial equipment, and others.

 

Microfluidic Devices Market Regional Analysis

 

Microfluidic devices market size is increasing with every passing day. It is leaving its impression in every corner of the world. The regions where they are operating include America, Europe, Asia-pacific, and the rest of the world.

 

America, which includes the area of North America (the US and Canada) and Latin America, eclipses above the share of all other regions. America is the largest consumer because of the increasing geriatric population, widespread infectious and chronic diseases. Larger investments in medical infrastructure by the authorities, and awareness among the general public, related to the unhealthy habits and their effects in long run, are the key driving factors.

 

The European region which includes Germany, UK, France, Russia, and Italy, has bagged the position of second-largest market share in the microfluidic devices market. This is because of the easy and cost-effective availability of raw material. Some of the major key players are also investing in these areas because of the ease of doing business.

 

Asia-Pacific region, which includes China, Japan, India, Australia, and South Korea, provides a huge market for microfluidic devices. It owns to the fact that the government of these countries is investing a large share of their resources in developing a robust medical infrastructure. This region will hit the largest CAGR throughout the period under analysis.

 

The rest of the world, which includes the region of the Middle East and Africa, is showing a constant but slow growth because of the limited resources with the government and lack of awareness among the general public. Low economic income is also another reason for inactive growth.

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Cystic Fibrosis Market 2020 Analysis, Industry Size, Share Leaders, Current Status by Major vendors and Trends by Forecast to 2027

 Market Scenario

Cystic fibrosis (CF) is a chronic, genetic disease which affects the overall progress of entire body leading to severe disability and early death in many cases. CF is mainly caused due to several mutations in the gene which encodes for cystic fibrosis transmembrane conductance regulator (CFTR) protein. According to the Cystic Fibrosis foundation (CFF), currently there are approximately 70,000 people who are suffering from cystic fibrosis worldwide.

Chest Physical Therapy (CPT) is a technique which is mainly done in cases of cystic fibrosis to drain out the mucus out of the body. In CPT, patient uses gravity to pull out the mucus by getting into different positions. While the patient is lying, the caretaker or the medical nurse taps or vibrates the chest of the patient in order to dislodge the thick mucus inside the lungs.

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Development of new drugs and therapies, and financial support from CFF in research and development of CF drugs are the key drivers fueling the growth of the market. In 2015, CFF announced a grants of $23 Million to 11 cystic fibrosis research and development centers in the United States. In total, CFF has invested around $425 Million in order to boost the drug development for this disorder. The constant financial support from the foundation encourages the biopharmaceutical companies to involve in the research of rare disease leading to the development of novel drugs. Despite these drivers, high cost of the drugs and treatment may hamper the growth of the market. The two most effective drug treatments for cystic fibrosis come with huge price tags, Kalydeco ($311,000/year) and Orkambi ($259,000/year). These high prices makes the CF treatment unaffordable for most of the patients.

It is estimated that cystic fibrosis market is expected to grow at a CAGR of 13.5% during the forecast period 2020-2027.

Intended Audience

• Cystic fibrosis manufacturers & suppliers
• Contract Research Organizations (CROs)
• Research and Development (R&D) Companies
• Government Research Laboratories
• Independent Research Laboratories
• Government and Independent Regulatory Authorities
• Market Research and Consulting Service Providers
• Academic Institutes and Universities

Segmentation

The global cystic fibrosis market is segmented on the basis of treatment method. Treatment method is further segmented into medication, devices, and other treatments.

Regional Analysis

The North America dominates the cystic fibrosis market owing to the high incidence rate of cystic fibrosis. According to cystic fibrosis foundation, more than 30,000 patients are living with cystic fibrosis in the U.S. and nearly, 1000 new cystic fibrosis cases are diagnosed each year. According to CFF’s national patient registry, the median age of the person with cystic fibrosis is currently 33.4 years.

European region stands second in the regions affected by cystic fibrosis. According to the European Cystic Fibrosis Society (ECFS), considering the 26 major countries in Europe, more than 35,500 people were suffering from cystic fibrosis in 2014. Among the CF patients in Europe, 51.8% were adults with age 18 years or more and 48.2% were less than 18 years old. Countries like the United Kingdom, Ireland, Romania, and Bulgaria have higher birth prevalence of CF.

The prevalence of cystic fibrosis is seen to be very low in the Asian region. The exact prevalence is not known but the risk of child birth with cystic fibrosis in Asian people is 1 in 100,000. The prevalence of CF is rare in the East Asian countries like China and Japan.

The Middle East and Africa holds the least share in the market owing to the presence of poor and slow developing countries, especially countries in the African region.

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Market Research Future (MRFR), enable customers to unravel the complexity of various industries through Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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Capsule Endoscopy Market: Drivers, Restraints, Opportunities, and Threats (2020-2027)

 Capsule Endoscopy market at Global level is a procedure that is used to get visual imaging of the inside area of intestines and other parts of the digestive tract. The reason why the market is getting into heights is that it is used to detect polyps, are there inflammatory bowel diseases, ulcers, and tumors of the intestine, especially the small intestine. The global capsule endoscopy market as per the registered forecasted periods is expected to attain a CAGR of 8.8% and is thought to reach USD 967.4 million by 2023.

With the growing world market of capsule endoscopy, there are certain risks and restraints to it such as complications of lack of skilled physicians that do hinder the growth of the market.

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COVID 19 Analysis

As for the growing situation of coronavirus which the world is facing every day. The market of the global capsule endoscopy is not at its best. Due to the attention that has been all soaked up by the pandemic. It has caused other diseases and other problems to get suppressed beneath it. Other problems and diseases are now given less heed and importance. Cancer, pneumonia, jaundice, and are also not treated to an extent where they should be. Hence more and more medical issues are developing but not being cured which is steeping down the market of capsule endoscopy.

Market Dynamics

Drivers

The global capsule endoscopy market is growing tremendously in the global market due to the increasing small intestinal disorders and increasing geriatric population. The other valid region why the market is growing is due to the new cases of colon cancer that have been reported in America in 2018. Also, the population with the higher number of older people tend to have the propensity of gastrointestinal diseases and hence they need capsule endoscopy. This is why the global market is directly growing bigger in a much positive way.

Opportunities

The global capsule endoscopy market is growing tremendously in the global market and hence has various new opportunities to grow and develop. There are many new coming opportunities. For instance, according to the American Cancer Society in 2018, it is thought that about 97,220 new cases of colon cancer were seen and observed. The older population is growing with a higher tendency to get affected with gastrointestinal diseases and will eventually need capsule endoscopy which is most likely to affect the growth of global capsule lenders' copy market in a much broader sense and positive sense.

Restraints

Although the global capsule endoscopy market is growing tremendously, that doesn't always mean positively. When there are higher market growth levels, various risks, and complications hinder the growth. One of the reasons which stop the global market from growing is the lack of skilled physicians who constrain the growth of this market.

Value Chain Analysis

The global capsule endoscopy market is growing and is benefiting various people as it is used to detect polyps, many other inflammatory bowel diseases that are quite destructive to the abdomen. Other reasons which add value to the growing global market are the detection of ulcers and tumors of the small intestine which are the most prevalent diseases in youngsters as well as old age people. Usually, the reason behind the prevalence of such problems is due to the unhealthy lifestyle that has been adopted.

Market Segmentation

The capsule endoscopy market has been divided based on the component, type, application, product, and distribution channels.

Based On The Component

The global market has been divided based on the component into the scope capsule and scope data recorder and capsule endoscopy workstations.

Based On The Type

The global market has been divided based on the type that captures cystoscopies and capsule neuro endoscopes.

Based On The Product

The global market has been divided based on the product into small bowel perhaps soon esophageal capsule and colon capsule.

Based On The Application 

The global market has been divided based on the application into obscure gastrointestinal bleeding (OGIB), Crohn's disease, and small intestine tumor. Many new capsule endoscopy manufacturers have come into existence since the year of the industrial era.

Based On The Distribution Channels

The global market has been divided based on the distribution channels into hospitals, clinics, and others. Under the distribution channel, the hospital accounts for the market value of about USD 289.3 million in 2017.

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CBD Oil Market Trends Analysis Research Report 2020-2027

 Global CBD Oil Market, according to MRFR, is poised to grow at a CAGR of 38.45% to reach USD 3.78 Billion till 2024. The global demand for CBD oil is primarily driven by increasing research funding over the study timeframe for cannabinoid research.

COVID-19 Analysis

The outbreak of COVID-19 and the interventions introduced by a variety of governments, such as social distancing and lockout, have contributed to a deterioration of the market. Since January 2020, the food service industry and other food industries, such as the bakery, liquor and dairy industries, have seen a significant decrease in their revenue production. Several table utilities around the world were disrupted by the lockout and operators were concerned about cash flow and weathering storms.

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Market Dynamics

Drivers

Growing Medical Awareness of Benefits to Drive Market Growth

Growing research and development efforts and financial funding for cannabinoid research from numerous private and government agencies. The discovery and production of cannabinoids for medicinal uses is funded by both private and government agencies. Cannabis has various medicinal properties that can treat different diseases. Over the evaluation period, this is expected to drive its production.

Because of its curing effects, the demand for cannabis oil (CBD) for medicinal and health uses is strong, which is the main factor driving market development. In addition, thanks to regulatory approvals, increasing product acceptance and usage is a major factor projected to fuel the market for goods infused with cannabis oil. In addition, the growing awareness of the medicinal advantages of cannabis oil has influenced individuals to purchase goods dependent on CBD, regardless of their cost.

Opportunities

Rise of Plant-based medicines to Create Growth Avenues for Key Players

As a result of the the number of social media influencers endorsing the benefits of cannabis, awareness campaigns from industry participants, and the application areas, cannabis oil has become the new consumer trend. Subsequently, the food portfolio is widening with growing product choices such as skincare, makeup, haircare, intimate lubricants, pharmaceuticals, gummies, tablets, flavoured drinks and other products. In recent years, plant-based medicine has witnessed considerable development. Moreover, the need for minimally manufactured and chemical-free medication has opened up a lucrative opportunity for the studied market to expand.

Restraints

Lack of legalization initiatives to Impede Market Growth

Business development may be hampered by the toxic effects associated with cannabis and rigid regulatory policies. In addition, some of the key factors limiting the development of the cannabidiol market are the prevalence of tight regulations and the high cost of CBD drugs. In addition, another primary factor hindering the development of the CBD industry is the lack of legalisation initiatives in many Asian and African countries.

Segmental Analysis

By Type

The leading segment, which is rising at the fastest CAGR to hit USD 2,092.97 million by the end of 2024, is Hemp-derived CBD oil. The differing amounts of tetrahydrocannabinol (THC) in hemp and marijuana account for the wide market share of hemp-derived CBD oil. Hemp is used for commercial uses for this cause, while hemp is cultivated for recreational and medical purposes.

By Application

With a 38.80 percent CAGR over the projected period, the cosmetic industry accounts for a large share. Increased legalisation and comprehensive CBD studies are growing their uses in the cosmetic industry, such as cosmetics products infused with CBD oil, as hemp-derived oils are proven to unclog pores, be anti-inflammatory and provide hydration.

Regional Analysis

Presence of Major Players Drives North America

When cannabis-based goods are gradually consumed, the Americas dominate the worldwide demand for CBD oil. Any of the key factors driving the region's development are the growing legalisation of medical cannabis in independent states of the U.S., the liberalisation of federal laws surrounding the same, and a general rise in the approval of cannabidiol for medicinal, health, and personal usage. In addition, for medicinal reasons, Canada has authorised the cultivation and selling of both CBD and THC potent marijuana. Therefore, the country's availability of CBD-based goods also promotes market growth in the field.

Germany to Drive Europe Market Growth

The European market for CBD oil has been divided into France, Germany, Italy, the United Kingdom, Russia and the rest of Europe. Due to the growing awareness of the medicinal uses of cannabis, Europe holds the second largest market share in the Western Europe region.

Rising Cosmetic Industry to Drive APAC

Asia-Pacific accounted for 9.16 percent market share as of 2018 and during the projected timeframe it was predicted to show the highest CAGR. The Asia Pacific market is expected to experience the fastest growth in the forecast period due to the establishment of hemp manufacturing plants, especially in China. China is Asia's biggest hemp producer and cultivates about half of the world's hemp output. In addition, players in end-use sectors such as personal care and cosmetics are striving to increase their profitability and revenue in developing economies. Therefore, the the attention of producers of cannabidiol-based products in Asia-Pacific countries and the the legalisation of cannabis for medicinal purposes in those countries are some of the key factors driving demand growth.

MEA to Witness Gradual Growth

Due to strict government policy, harmful effects associated with cannabis and the illicit use of marijuana, the Middle East & Africa is expected to see limited development.

Competitive Landscape

Mergers and Acuisitions to Remain Primary Focus of Market Players

There are many players competing in the global market for CBD Oil. Owing to the presence of a significant number of local and multinational firms, the global CBD oil market is heavily crowded. A vast variety of items on the market are available. The majority of businesses concentrate on cost-effective goods, while others have embraced merger tactics and strategic partnerships for business expansion. Any of the major companies, taking advantage of their good position and presence in the number of countries and regions around the world, have gained a large share of the global market.

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Preclinical CRO Market 2020 Analysis, Industry Size, Share Leaders, Current Status by Major vendors and Trends by Forecast to 2027

 

Market Overview

Preclinical CRO Market is projected to record a CAGR of 8.14% to influence an earning level of USD 5,234.7 Million by the end of the forecast in 2024. A preclinical CRO brings the knowledge, experience, and skill essential to take a medical product or device from its clinical-stage to selling and distribution.

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COVID-19 Analysis

With the present COVID-19 pandemic calamity, the world is conscious of life-saving drugs' criticality developed and rapidly brought to market. The drugs being brought to market result from a close partnership with the sponsor company, which works with a clinical research organization (CRO) that manages the clinical trials. Several drugs go through various development phases from the concept to the commercialization stage. A suitable CRO is deemed invaluable in the situation, especially to a sponsor company in its search to bring a novel drug to market. A poor performing CRO can cause a new drug's regulatory approval to be denied or delayed. As SARS-CoV-2 persists in its spread globally, several players are dedicated to arranging support for uncovering an active immune and prophylactic plan to back the biotech, pharmaceutical, and academic groups in advancing anti-viral medication and vaccines against SARS-CoV-2.

Market Dynamics

Drivers

Growth In Outsourcing Of Non-Core Function

The need to focus on core functions is projected to lead to an increased offloading of non-essential activities, thus boosting the preclinical CRO market growth.

Enhanced Abilities Of Preclinical Cros To Offer Additional Value-Added Services

The diversification and advancement of the additional value-added services is predicted to give the CRO preclinical market revenue a boost in the future.

Surging Number Of Drugs In The Preclinical Phase

The burgeoning volume of products in the preclinical testing phase is predicted to enhance the forthcoming period's preclinical CRO market size.

Economies Of Production And Scale

The ability to easily reach economies of production and scale is estimated to work out in favor of the preclinical CRO market in the impending period.

Opportunities

Opportunity For Medical Device Companies To Outsource Preclinical Trials

The demand for medical device testing has risen incrementally over the past few years, which is foreseen to be outsourced to preclinical CROs, thus motivating the global market in recent years.

Challenges

Scarcity Of Labour And High Labour Cost

The shortage of labor that is specialized related to requirements to the sector is estimated to create a restriction on the overall growth.

Structural Changes In The Industry

The changes in the market's overall structure are estimated to reduce the momentum for the preclinical CRO market development in the near future.

Segment Overview

By Service

The toxicology testing segment is anticipated to spearhead the global market and record a considerable CAGR to attain USD 2,476.28 Million by the conclusion of 2024. Growing demand for new drugs and chemicals and dynamic development in the biopharmaceutical and pharmaceutical sectors is anticipated to drive the preclinical CRO market growth. The bioanalysis and drug metabolism and pharmacokinetics (DMPK) studies segment is anticipated to show a peak CAGR of 8.96% by 2024.

By Application

Oncology is likely to appear as the leading segment in the forthcoming period.

By End-User

The pharmaceutical and biopharmaceutical industries segment is foreseen to create an impetus for global market growth in the future.

Regional Analysis

Americas To Exert Dominance On Global Market

The Americas regional market for preclinical CROs was the preclinical CRO's prime market in 2018 and is expected to continue its strong influence throughout the review period.

European Regional Market Shows Market

The European regional market reported a vital stake and is projected to be the second-largest market during the forecast period. The snowballing outsourcing undertakings in Europe are driving the development of the region's preclinical CRO market. Germany reported for the principal market portion of 24.7% in 2018, and the national-level market is anticipated to touch a CAGR of 6.69% throughout the forecast period.

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3D Bioprinting Market Growth, Trends and Value Chain 2020-2027

 Global 3D Bioprinting Market share is projected to touch a value of USD 1,923.02 Million by 2023, states Market Research Future (MRFR) in its report. The market can display a CAGR of 24.59% during the forecast period due to its growing applications in tissue engineering and organ transplantation.

3D bioprinting encompasses an array of 3D printing methods to combine cells and biomaterials to produce biomedical parts. Although the technology is in high use for research and development purposes, its application in the production of tissues and organs is likely to garner high demand.

The prevailing pandemic, COVID-19, has generated the demand for companies to maintain a digital asset. In situations like these, the 3D printer aids to meet the requirement, which is expected to boost the 3D bioprinting market growth.

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Market Dynamics

The cost-economical nature of 3D bioprinting is expected to brighten the bioprinting future. This is buttressed by the use of small implants and prosthetics used in the treatment of dental or craniofacial disorders. Furthermore, the presence of numerous players in the 3D bioprinting market can keep production costs low and augur well for the market in the forthcoming years.

However, lack of awareness of the technology and shortage of skilled professionals can act as growth deterrents in the market.

Drivers

Growing Demand for Organ Transplantation to Boost the Market

Growing demand for organ transplantation is projected to drive the market by 2023.  The rising investments in 3D bioprinting via public and private means to widen its scope is likely to boost the market growth. Moreover, the cost-effectiveness of 3D bioprinted products is expected to develop the industry in the forecast timeframe.

Opportunities

Growing Application of 3D Bioprinting in Cosmetic Industry to Offer Lucrative Opportunities

The extensive usage of 3D bioprinting in the cosmetic industry is expected to offer various growth opportunities to the key players. The growing R&D, partnerships, and acquisitions are likely to augment the market in the coming period.

Restraints

Lack of Expertise to Hinder Market Growth

One of the major factors hindering the market growth is the lack of expertise and awareness is expected to obstruct the market growth during the forecast period.

Challenges

Socioethical Concerns Due to the usage of 3D Bioprinted products

The application of bioprinted products inside human bodies can grow biosafety concerns, which may also question some religious beliefs that can hinder the market growth. In addition, the concerns associated with waste elimination is expected to further restrict the market growth.

Cumulative Growth Analysis

Market is Expected to Grow Significantly in the Forecast Period

The market is anticipated to grow significantly in the coming period, at a rapid pace. The on-going technical development, the growing awareness, and the increasing 3D bioprinting applications are predicted to underpin the trade expansion at a global front.

Market Segmentation

The 3D bioprinting market is segmented by technology, material, application, and end-user.

By Technology

Inkjet 3D Bioprinting Segment to Exhibit Higher CAGR

Based on technology, the global market for 3D bioprinting is segmented into inkjet 3D bioprinting, microextrusion bioprinting, magnetic 3D bioprinting, and laser-assisted bioprinting. Among all, the microextrusion bioprinting segment is projected to witness a CAGR of 25.24% during the forecast period. This can be attributed to its growing applications in bioprinting. On the other hand, inkjet 3D bioprinting can exhibit 26.44% CAGR owing to being a viable alternative for scaffold fabrication.

By Material

Hydrogels to Thrive at a CAGR of 26.63% by 2023

By material, the global market for 3D bioprinting is segmented into living cells, extracellular matrices, and hydrogels. The hydrogels segment is expected to generate USD 652.54 million by 2023 at a CAGR of 26.63% during the forecast period.

By Applications

Research Applications Segment to Exhibit Higher CAGR due to its Growing Application in Regenerative Medicines

Based on applications, the global market for 3D Bioprinting market is segmented into research and clinical applications. The research applications segment is expected to exhibit a  CAGR of 24.74% by 2023 owing to applications in 3D cell culture and regenerative medicine. The clinical applications segment is likely to hold the market value of USD 507.55 million by 2023 while expanding at a CAGR of 24.19% during the assessment period.

By End-Users

Pharmaceutical & Biotechnology Segment to Grow Due to Growing Demand for Personalized Medicines

Among end-users, the global market for 3D bioprinting market is segmented into pharmaceutical & biotechnology companies and research organizations & academic institutes. Pharmaceutical & biotechnology companies are projected to display a CAGR of 24.98% till 2023 owing to the trend in personalized medicines.

Regional Analysis

North America is expected to hold the Largest Market Share in the Global 3D Bioprinting Market

As per the 3D bioprinting industry analysis conducted by MRFR, the Americas is expected to acquire the market value of USD 689.91 million by 2023. This can be attributed to growing investments in research and development and the presence of advanced healthcare infrastructure. The demand for organ transplant is likely to rise to grow the regional market in the coming period. In addition, the on-going development of 3D printed pills, which can be customized as per the person’s age and body weight, is expected to offer various opportunities for expansion for the 3D bioprinting market.

The APAC is projected to acquire the market value of USD 507.18 million by 2023 at a CAGR of 27.25% during the forecast period. The APAC region is anticipated to grow at a rapid pace due to the development in 3D printing, incorporation of the latest technologies in the healthcare sector, and abundance of opportunities. In addition, increasing government funding to accelerate the pace of 3D printing technology is projected to augment the 3D bioprinting market size.

The Europe 3D bioprinting market is expected to acquire a market value of USD 649.91 million by 2023 due to the rising focus on health and wellness. Increased demand for cosmetic surgery can play a salient role in the market’s progress in the region. Furthermore, agreements between established players to expedite the evolution of technology can net novel results. This is exemplified by the deal signed between BASF SE and Poietis to improve skincare products by the former.

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Sexual Wellness Market to Witness Widespread Expansion During 2020-2027

 Global sexual wellness market is expected to grow significantly over the forecast period. It is anticipated that the market held value of USD 21.26 billion in 2017 and is projected to grow at a CAGR of 9.2% over the forecast period.

Sexual health is experience of physical, psychological and social cultural related to sexuality. The products such as, sex toys, condom & contraceptives, sexual enhancement supplements, lubricants, ointments view as a sexual wellness product that provides enjoyment in sexual experience and security.

The factors such as increasing global prevalence of Sexually Transmitted Diseases (STDs), increase in awareness regarding sexual health items, and development of e-commerce business are expected to propel the growth of the market. However, Side effects due to toxic ingredients in products and product recalls hamper the market growth over the forecast period.

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Segmentation

The global sexual wellness market has been segmented into product, distribution channels, and region.

Based on product, sexual wellness market is segmented into sex toys, condom & contraceptives, sexual enhancement supplements, lubricants, ointments, and others. The sex toys segment is expected to account for the largest share segment of the market in 2017.

Based on distribution channels, sexual wellness market is segmented into retail and online platforms. The retail segment is expected to account for the largest share segment of the market in 2017. Retail segment further sub segmented into drug stores, specialty stores, and others.

The sexual wellness market segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The sexual wellness market in the Americas further segmented into North America and South America, with the North American market divided into the US and Canada.

The European sexual wellness market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.

The sexual wellness market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The sexual wellness market in the Middle East & Africa segmented into the Middle East and Africa.

Regional Market Summary

Geographically, the Americas is anticipated to dominate the global sexual wellness market owing to a well-established player, increasing prevalence of Sexually Transmitted Diseases (STDs), increase in awareness regarding sexual health items, and developed e-commerce business.

Europe is expected to hold the second largest position in the global sexual wellness market. The market growth in this region is attributed to increasing awareness about sexual wellness products.

The sexual wellness market in Asia-Pacific region consists of countries namely China, Japan, Republic of Korea, India, Australia and Rest of Asia-Pacific. The Asia-Pacific region is expected to be fastest growing region.

The Middle East & Africa has the least share of the sexual wellness market.

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