The market for 3D bioprinting will reach USD 1.9 billion by 2028, forecasts new IDTechEx report
By Dr Nadia Tsao, Technology Analyst, IDTechEx
3D bioprinting, referring to the layer-by-layer deposition of living cells to create a final 3D tissue construct, provides users with the unique ability to create artificial tissue that closely resembles native tissues in form and function from basic biological building blocks.
IDTechEx has been following the field of 3D bioprinting since 2014 and have recently published an update to their report on the topic, 3D Bioprinting 2018 – 2028: Technologies, Markets, Forecasts. Based on market trends analysed in this report, IDTechEx forecasts that the global market for 3D bioprinting will reach a value of $1.9 billion by the year 2028. Previously, IDTechEx reported on how the field of 3D bioprinting has been moving from science fiction to reality. However, as before, challenges remain before advanced structures such as 3D bioprinted organs can be fully developed.
IDTechEx’s report on 3D bioprinting covers the technologies of inkjet, extrusion, laser-induced forward transfer and microvalve printheads. The report details key specifications, technology subtypes, and includes a SWOT analysis of each printhead technology. Other technologies, such as microfluidic chip, microneedle array, and cell electrospinning are also discussed in the report.
The greatest impact of 3D bioprinted tissues is expected to be in regenerative medicine. In 2017, Organovo successfully obtained Orphan Drug Designation for their 3D bioprinted liver patch from the United States Food and Drug Administration. Though 3D bioprinted tissues for regenerative medicine is not expected to become widespread in the next 10 years, this is still a significant milestone for the field.
In the short term, the top applications of 3D bioprinted tissue continue to be in research and product testing in the consumer and pharmaceutical industries. 3D bioprinted skin continue to provide high value to cosmetics companies such as L’Oréal. Previously, BASF have also used 3D bioprinted skin to demonstrate the efficacy of active ingredients within their consumer products. For the pharmaceutical industry, the use of 3D bioprinted tissue for toxicity testing remains at the forefront, but the 3D bioprinting of disease models is receiving increasing attention. For example, CTI Biotech are using 3D bioprinting to create patient-specific cancer tumor replicas to study the personalized treatment of cancers on a patient-by-patient basis.
In addition to regenerative medicine and product testing in cosmetics and pharmaceuticals, IDTechEx’s report covers applications of 3D bioprinting such as personalised medicine, cell-based biosensors, food and other animal products, education, academic research, and bionics.
IDTechEx’s report 3D Bioprinting 2018 – 2028: Technologies, Markets, Forecasts presents a 10-year forecast for the 3D bioprinting market, including the sub-markets of 3D bioprinting equipment, and 3D bioprinted tissues. The 10-year forecast for 3D bioprinted tissue examines the key applications of consumer testing, pharmaceutical testing, and regenerative medicine, while the 10-year forecast for 3D bioprinters follows the market of 3 ranges of 3D bioprinters.
Readers of this new report by IDTechEx will gain a comprehensive view of the technologies, applications and markets of 3D bioprinting. Insights and knowledge of the industry were obtained through primary interviews with key stakeholders in 3D bioprinting companies, and these interviews also form the basis of the company profiles included at the end of the report.
To find out more about 3D Bioprinting 2018 – 2028: Technologies, Markets, Forecasts,visit www.IDTechEx.com/3DBio
WTO’s Azevêdo launches report on role of trade in advancing the Sustainable Development Goals
WTO Director-General Roberto Azevêdo met United Nations Secretary-General António Guterres on May 3 to present him with a new WTO report on how trade is contributing to achieving the United Nations’ Sustainable Development Goals (SDGs). The meeting took place at the UN Chief Executives Board session in London. The Director-General addressed the meeting on the current challenges faced by the international community in achieving the SDGs, including the need to resolve the current tensions between some trading partners
The new publication — entitled “Mainstreaming trade to attain the SDGs” — looks at how engaging in international trade can help countries gain access to new markets and new investments, therefore boosting growth, raising living standards and promoting sustainable development.
The Director General said: “Trade has proved itself to be a powerful force for growth and development around the world. It played a crucial role in the early achievement of the Millennium Development Goal to halve the number of people living in extreme poverty. Now we are working to ensure that trade contributes again in meeting the Sustainable Development Goals. WTO members took a big step forward with the 2015 agreement to abolish agricultural export subsidies, which delivered a key target of the SDG on Zero Hunger. This new report examines a wide range of other ways that trade can contribute to this global mission — from tackling harmful fisheries subsidies to boosting the economic capacity of least-developed countries to maintaining and strengthening the multilateral trading system in order to provide the platform of stability and certainty upon which growth and development will continue to rely.”
The report looks at the SDGs from economic, social and environmental perspectives and outlines how trade is contributing to making progress in each of these areas, including through reducing poverty, improving health and tackling environmental degradation.
It outlines a number of steps to help accelerate progress in achieving the SDGs. This includes governments embedding trade policies into their national development plans to spread the benefits of trade more widely and strengthening the multilateral trading system. It also includes action to further lower the costs of world trade, notably by implementing the WTO’s Trade Facilitation Agreement, which establishes procedures for streamlining the flow of goods among WTO members.
The report can be downloaded here.
IMD World Competitiveness Yearbook: The 30th Edition
By Christos Cabolis, Chief Economist, IMD World Competitiveness Center
In less than three weeks, the IMD (the business school for management and leadership courses) World Competitiveness Centre will launch the 2018 competitiveness rankings. Every year in May there is a lot of work and a tremendous effort to cope with deadlines, meticulous reporting and checking of the data. There is also excitement about the upcoming results. This year, the enthusiasm and anticipation are even higher because this year the Center will launch the 30th edition of the IMD World Competitiveness Yearbook!
The first issue was introduced in July of 1989. It studied 32 economies and regions and made a clear distinction between developed (all OECD economies) and newly industrialized countries. The three highest ranked economies were Japan, Switzerland and the USA.
For the sake of history, it would be interesting to identify the three highest ranked economies with respect to competitiveness in intervals of (almost) ten years. Table 1 presents the list. In 1998 the three highest ranked countries with respect to competitiveness were the USA, Singapore and Luxemburg among 46 countries that the Center analyzed. Ten years later, in 2008, the first two positions remained unchanged: USA and Singapore, while the third place was captured by another highly competitive economy in South-East Asia: Hong Kong. This time, the Center was analyzing 55 economies.
One notes that the USA remained among the top 3 during the specific years we present while Singapore was very competitive both in years 1998 and 2008. What about the other two countries of the 1989 top three economies?
Table 2 presents the rankings of these three economies in the years under consideration. Japan dropped to the 24th place, while a decade later it had climbed back to the 17th position. The ranking positions reflect the stagnation and collapse of asset prices observed in Japan during the so-called “Lost Decade” period in the Japanese economy. Conversely, the innovative Swiss economy has always been ranked within the most competitive economies.
The three sample points taken into consideration traced the evolution of competitiveness in the three top ranking positions.
Alternatively, one may attempt to trace the overall competitiveness performance for a number of years. Graph 1 presents the competitiveness evolution for four countries. We begin in 2001, when the current methodology was introduced by the WCC.
For instance, Brazil is a country that attracted a lot of attention because of the size and potential of its economy. A member of the so-called BRICS countries, Brazil was ranked 40th in 2001. Because of both internal and global issues, this expectation never materialized. In 2017, Brazil had dropped to the 61st place out of 63 countries studied.
The same pattern is observed for Greece. In 2001, a year after it was accepted into the Eurozone, Greece captured the 31st place in the ranking. Structural challenges along with excess government spending and tax evasion brought the country to the 57th position in 2017.
The exact opposite trend is observed in the remaining two economies in Graph 1. China was ranked in the 26th position in 2001. The introduction of structural and institutional changes resulted in a fast growing economy that brought the country to the 18th position in 2017. Similarly, the economy of New Zealand held the 21st position in 2001. Managing not be highly affected by the global financial crisis and with the support of improving commodity prices, as well as attention to infrastructure, the economy of New Zealand captured the 16th place in 2017.
Table 3 presents the three highest ranked economies for 2017: Hong Kong, Switzerland and Singapore. Our intention was to whet your appetite by offering you the countries that captured the three top places in our ranking in the inaugural year as well as 1998 and 2008. Now, it is your turn: which economies do you think will be in these three places in 2018?
The year book can be ordered here
IMD is based in Lausanne, Switzerland and Singapore
WFSGI 40 Years Anniversary Historic Book
The WFSGI 40 Year Anniversary Historic Book has been created this year to celebrate the anniversary and gives an in depth look into the accomplishments from the past. Besides messages from key people that made and are still making the Federation to this day and beyond, the book is filled with historical content and pictures. 40 years is a milestone that could not have been achieved with the people from the past and our members
“For 40 years, our industry has evolved – from the materials and technology we use, to how products are sold and distributed. With our athletes and teams, the people we employ, our customers and fans, all come together to make our reach enormous”, states Sean O’Hollaren, Chairman of the Board.
“40 years of existence mean that there is a real need for associations like ours and I wish to thank, our members for their support and trust in the work that we deliver for the industry, and my predecessors who paved the road to the success,” said Robbert de Kock, President and CEO.
WFSGI, the World Federation of the Sporting Goods Industry is the world authoritative body for the sports industry officially recognized by the International Olympic Committee (IOC) as the industry representative within the Olympic Family. The WFSGI is an independent association with no objective of economic character for its own gain and formed by sports and sports-inspired leisure brands, manufacturers, suppliers, retailers, national/regional federations, industry and trade associations and all sporting goods industry related businesses. Our purpose is to represent and inspire the industry, to invest in innovation, promote physical activity, support free trade and do business in an ethical and sustainable way. As part of our mission we facilitate legally permissible communication and cooperation to enhance competitiveness and innovation. We seek to positively influence the way our products are manufactured, with a focus on people involved in the manufacturing and the environment. Our members are steering the direction of the industry. The future of the sporting goods industry begins with the professional networks that we support.
The History Book can be looked at here