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3D Bioprinting Market Data Analysis Stood at USD 6.9 billion by 2032 | CAGR of 16.1%
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New York, April 26, 2023 (GLOBE NEWSWIRE) — The Global 3D Bioprinting Market is projected to grow at a CAGR of 16.1%, with its worth expected to increase from USD 1.6 billion in 2022 to approximately USD 6.9 billion by 2032. 3D Bioprinting is an additive manufacturing technique that makes biomedical parts by 3D printing. It mimics natural tissue characteristics as closely as possible. 3D Bioprinting is a method that involves layer-by-layer deposition of bio-inks to create tissue-like structures. These structures can then be used in tissue engineering and medical research. This can be used for drug development, research, scaffolds, and medical implant development. 3D Bioprinting now includes scaffold printing, which can be used for reconstructing joints and ligaments. The study of biomaterials, which are innovative materials, is a key component of 3D Bioprinting technology. This technology has made tremendous advancements in medical tissue engineering.
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Key Takeaway:
- By technology, in 2022, the 3D Bioprinting market was dominated by the Inkjet-based bio printing segment with a market share of 39% 2022, owing to its ability to print complex living tissues or organs on culture substrates using biomaterials as bio-ink.
- By material, the living cells segment dominates the largest market share in 2022, owing to increased investments in R&D in the regenerative medicine sector.
- By application, the medical segment dominated the largest market share of 37.1% in end-user type analysis
- In 2022, North America dominated the market with the highest revenue share of over 36.4%.
- APAC is expected to grow at a greater pace among all the regions covered in the report.
Factors affecting the growth of the 3D Bioprinting industry
Several factors can have an impact on the growth of the 3D Bioprinting industry. Some of these factors include:
- Faster Drug Development: By printing human-like tissue, scientists can now get the results of any particular drug’s reaction on the pathogen within a few hours compared to the traditional method, which would take around three to six years for the same process
- High Costs: The cost of printing any human body part or tissue is very high and can be challenging to estimate as several process variables come into play. Thus this factor can limit the 3D bioprinting industry’s growth to a certain extent.
- Increasing use in the Cosmetics sector: Several cosmetics companies are using 3D bio-printed tissues to test their products, especially in Europe, as the EU banned animal testing in 2013.
- Skilled Professionals: Highly trained professionals are required for operating 3D bioprinters as it requires continuous process monitoring.
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Market Growth
3D Bioprinting’s ability to reduce drug reactions and expand treatment options drives medical tourism growth in European countries. The UK government invested US$ 70 million in the industry strategy challenge fund to improve the healthcare infrastructure. For advanced precision and gene therapy, it has established three treatment centers for advanced therapy. Artificial intelligence, which is based on innovative advances, is revolutionizing healthcare. It makes it easier for healthcare professionals to track and monitor clinical data, resulting in fewer errors. AstraZeneca plc, and Renalytix AI plc, introduced strategies for 3D Bioprinting to treat metabolic, renal, or cardiovascular diseases in August 2020. Researchers at Seoul National University Hospital & College of Medicine also developed artificial intelligence (A.I.). Deep Learning Based Automatic Detection is an algorithm that analyzes chest radiographs to identify abnormal cancer growth. As such, the market growth is being driven by AI in 3D Bioprinting.
Regional Analysis
North America was the dominant region in 2022, with a market share of 36.4%. The increasing integration of IT in the healthcare industry is estimated to drive market growth during the forecast period. In addition, the United States government has recently become a key stakeholder in the 3D bioprinting industry. The US government has also made considerable investments in the research and development of bioprinting, with several federal grants awarded to universities for this purpose. The presence of several major key players is another factor that may boost the growth of the North American region, among others. Moreover, Asia Pacific is expected to grow at the fastest CAGR holding the largest market share during the forecast period.
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Scope of the Report
| Report Attribute | Details |
| Market Value (2022) | USD 1.6 Billion |
| Market Size (2032) | USD 6.9 Billion |
| CAGR (from 2023 to 2032) | 16.1% |
| North America Revenue Share | 36.4% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
The 3D bioprinting market growth is being driven by various factors, including technological advancements in the bioprinting space and the subsequent rise in its adoption across various industries. The 3D bioprinting market growth is primarily the result of several factors related to the rapid advancement of technology and increasing demand for organ transplantation. Primarily, the emergence of high-performance materials such as hydrogels, polymers, and metals has enabled greater precision in bioprinting techniques. This has allowed for increased applications, including tissue engineering and regenerative medicine.
Market Restraints
The 3D bioprinting market is subject to certain restraining factors which have been identified as having a detrimental effect on the growth of this sector. Firstly, the lack of existing infrastructure and regulatory frameworks in some countries has proven to be an obstruction when it comes to the development of this industry. Secondly, the cost associated with the technology required for 3D bioprinting processes is deemed too high for several manufacturers. Therefore, factors as such are anticipated to hamper the market’s growth to a certain extent.
Market Opportunities
Technological advances such as increased accessibility and the development of new materials play a significant role in determining market opportunities. In addition, developments in 3D bioprinting are a direct result of the convergence of several research fields. All of these developments have contributed to the creation and advancement of bioprinters. 3D Bioprinting is an emerging technology that has been making waves in the medical field. It allows for printing biological structures that can be used to create more effective and personalized treatments, potentially revolutionizing medicines. Since its inception, 3D Bioprinting technology has been used to print a wide variety of biological structures, including skin tissue, bone, heart valves, and blood vessels.
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Report Segmentation of the 3D Bioprinting Market
Technology Insight
Based on technology, the 3D bioprinting market is segmented into magnetic levitation, laser-assisted, and inkjet-based bioprinting. Among these, inkjet-based bioprinting has dominated the market, with the majority of the revenue share of 39% in 2022. Because it enables complex living tissues or organs to be printed on culture substrates using biomaterials as bio-ink. The growing use of inkjet technology in the medical industry is fueling the growth of this market. This segment is estimated to rise significantly throughout the forecast period, owing to its rising reliability and demand.
Material Insight
Based on this segment, the 3D bioprinting market has been segmented into living cells, extracellular matrices, and hydrogels. Among these materials, the living cells segment accounted for the largest market share in 2022. Moreover, during the forecast period, the hydrogel segment is expected to dominate the 3D bio-printing market. Hydrogel is used in tissue engineering applications for three reasons. They may be employed as gap fillers, bioactive chemical transport vectors, and 3D structures that function as scaffolding for cells and aid in the formation of perfect tissues.
Application Insight
The 3D bioprinting market is segmented based on application into medical, dental, bioinks, and biosensors. The increased usage of medicinal pharmaceuticals to treat numerous chronic conditions is propelling the 3D Bioprinting industry forward. Furthermore, the rising need for cost-effective biomedical medications and applications based on this technology is propelling this industry forward. The need for medical pharmaceuticals is growing as the number of pharmaceutical sector players grows. Millions of individuals take capsules and tablets on a daily basis all across the world. As a result, this segment is predicted to increase profitably throughout the projected period.
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Market Segmentation
By Technology
- Magnetic levitation Bioprinting
- Laser-assisted Bioprinting
- Inkjet-Based Bioprinting
By Materials
- Living Cells
- Extracellular Matrices
- Hydrogels
By Applications
- Medical
- Dental
- Bioinks
- Biosensors
By Geography
- North America
-
- The US
- Canada
- Mexico
- Western Europe
-
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
-
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
-
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Competitive Landscape
Major market participants are exploring new tactics, creating a competitive landscape among important competitors. To acquire a competitive edge, key organizations prioritize research & development in order to create novel technological applications. In addition, large businesses form alliances, mergers, and acquisitions to expand their range of applications and manufacturing capabilities and differentiate themselves from the competition.
Some of the major players include:
- EnvisionTEC, Inc.
- Organovo Holdings Inc.
- Regemat 3D S.L.
- Bico group ab
- Collplant Biotechnologies Ltd.
- Regenhu
- Cyfuse Biomedical K.K.
- 3D Bioprinting Solutions
- Cellink Global
- Inventia Life Science PTY LTD
- Poietis
- Vivax Bio, LLC
- Allevi
- Aspect Biosystems Ltd.
- Advanced Solutions Life Sciences, LLC
- Rokit Healthcare, Inc.
- Pandorum Technologies pvt. ltd.
- Foldink Life Science Technologies
- Revotek Co., ltd.
- Precise Bio
Recent Development of the 3D Market
- In July 2022, Triastek, Inc. partnered with Eli Lilly and Company, a major pharmaceutical industry, to use 3D printing technology. This initiative will concentrate on the target release of drugs in the gut. Triastek concentrates on the thorough investigation of process parameters to ensure drug stability during the release of drugs and also during the formulation 3D printing process and formulation creation.
- In August 2022, the Indian Institute of Science (IISc) and CELLINK, a global pioneer of 3D bioprinter development, announced their partnership to construct a 3D bioprinting Centre of Excellence in Bengaluru, India. The Biosystems Science and Engineering at IISc provide access to 3D bioprinting systems, allowing researchers to make advancements in their projects through specific applications to improve medical outcomes.
Browse More Related Reports:
- Medical 3D Printing Market is projected to reach a value of USD $ 6,422.6 Mn by 2030, from USD $ 1,408.2 Mn in 2020, at a CAGR of 16.7%.
- 3D Cell Culture Market size is expected to be worth around US$ 6,529 Million by 2032 from USD 1,700 Million in 2022
- Printing ink Market was valued at USD 21.2 billion and is expected to grow to around USD 30 billion by 2032 between 2023 and 2032
- 3D Printing in the Education Market was valued at USD 278.6 Mn in 2022 and is projected to increase significantly at a CAGR of 10% from 2022 to 2033.
- 3D Printing Metal Market size is expected to be worth around USD 5274.45 million by 2032 from USD 589.5 million in 2022
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Artificial Intelligence
More than $9 Million Awarded to High School Scientists and Engineers at the Regeneron International Science and Engineering Fair 2024
Grace Sun, 16, receives $75,000 Top Award for a new kind of organic electrochemical transistor at the world’s largest pre-college science, technology, engineering and math (STEM) competition.
TARRYTOWN, N.Y. and WASHINGTON, May 17, 2024 /PRNewswire/ — Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) and Society for Science (the Society) announced that Grace Sun, 16, of Lexington, Kentucky, won the $75,000 top award, the George D. Yancopoulos Innovator Award, named in honor of the pioneering drug researcher and Regeneron co-Founder, Board co-Chair, President and Chief Scientific Officer, in the 2024 Regeneron International Science and Engineering Fair (Regeneron ISEF), the world’s largest pre-college science and engineering competition. Other top prizes went to projects in second-order cone programming, microplastics filtration and multi-sensory therapy for dementia.
The top winners were honored during two award ceremonies: the Special Awards on May 16 and the Grand Awards Ceremony on the morning of May 17. In total, over $9 million USD was awarded to the finalists based on their projects’ creativity, innovation and depth of scientific inquiry. The competition featured nearly 2,000 young scientists representing 49 U.S. states and nearly 70 countries, regions and territories across the world.
Grace Sun, 16, of Lexington, Kentucky, won first place and received the $75,000 George D. Yancopoulos Innovator Award for her research on building a better organic electrochemical transistor that she hopes will be used to develop new electronic devices that could help detect and treat serious illnesses like diabetes, epilepsy and organ failure. To overcome the problems that have previously prevented such devices from working effectively inside the body, Grace developed a new way of chemically treating their organic components, which greatly improved their laboratory performance.
Michelle Wei, 17, of San Jose, California, received one of two Regeneron Young Scientist Awards of $50,000 for her research to improve the speed and efficiency of a type of software that is useful in many fields such as machine learning, transportation and financial systems. Michelle’s new approach involved determining a quick approximate solution to the second-order cone programming problem, then splitting the initial cone into smaller cones, which enabled her new algorithm to greatly outperform previous approaches.
Krish Pai, 17, of Del Mar, California, received the second Regeneron Young Scientist Award of $50,000 for his machine-learning research to identify microbial genetic sequences that can be modified to biodegrade plastic. His new software, called Microby, scans databases of microorganisms and determines which ones can be changed genetically to biodegrade plastics. In tests, he identified two microorganisms that can be genetically modified to degrade plastic at a cost he believes would be ten times less than traditional recycling.
“Congratulations to the Regeneron International Science and Engineering Fair 2024 winners,” said Maya Ajmera, President and CEO, Society for Science and Executive Publisher, Science News. “I’m truly inspired by the ingenuity and determination shown by these remarkable students. Coming from around the world with diverse backgrounds and academic disciplines, these students have shown that it is possible to come together in unity to tackle some of the toughest challenges facing our world today, and I could not be prouder.”
Regeneron ISEF provides a global stage for the world’s best and brightest young scientists and engineers. Through this competition, Regeneron and the Society are fostering the next generation of STEM leaders who are pioneering solutions to improve our world. Since 2020, Regeneron has provided STEM experiences to approximately 2.4 million students, on track to meet its goal of 2.5 million by 2025.
“The talent, intelligence and potential of this year’s Regeneron ISEF finalists is truly inspiring, and I congratulate each on their remarkable achievements,” said George D. Yancopoulos, M.D., Ph.D., co-Founder, Board co-Chair, President and Chief Scientific Officer of Regeneron. “Science competitions like ISEF were pivotal in shaping my own career and fueling my passion to fight back against disease. I look forward to seeing these students continue to push the boundaries of science and technology to create positive and sustainable change for all humanity.”
Other top honors from the competition include:
Justin Huang and Victoria Ou, both 17, of Woodlands, Texas, received the Gordon E. Moore Award for Positive Outcomes for Future Generations of $50,000 for their new prototype filtration system that uses ultrasonic waves to remove microscopic plastic particles from water. In lab tests, the acoustic force from the high-frequency sound waves removed between 84% and 94% of the suspended microplastic particles in a single pass. The students are now working to scale up and fine-tune their experimental system.
Ingrid Wai Hin Chan, 17, of Hong Kong, China received the Craig R. Barrett Award for Innovation of $10,000 for her research on using a multi-sensory therapy for dementia patients. Her mixed therapy app would allow patients to practice physical and cognitive skills through a personalized, immersive environment using virtual reality headsets. Ingrid conducted an eight-week study with six people living with dementia and found that the cognitive function of patients who used her prototype improved in several areas. She believes her app could serve as a viable option for dementia patients with limited access to in-person professional therapy.
Tanishka Balaji Aglave, 15, of Valrico, Florida, received the H. Robert Horvitz Prize for Fundamental Research of $10,000 for her investigation into a natural alternative treatment against citrus greening, a disease that threatens citrus farming in many parts of the world and is currently only treated with antibiotics. Tanishka injected the trunks of infected trees with an extract from the curry leaf tree, and found through tests that this potential method could effectively and sustainably manage citrus greening disease.
Maddux Alexander Springer, 18, of Honolulu, Hawaii, received the Peggy Scripps Award for Science Communication of $10,000 for his research into fibropapillomatosis (FP), a disease that is the primary cause of death in green sea turtles. Some turtles he studied in Kaneohe Bay, Hawaii, were stricken with a disease that causes internal and external tumors that inhibit their everyday lives. After analyzing the turtles’ diet of green algae, Maddux concluded that this disease, wastewater, invasive algae and the amino acid arginine all pose a grave risk to these endangered sea creatures.
Ria Kamat, 17, of Hackensack, New Jersey; Anna Oliva, 17, of Houston, TX; and Shuhan Luo, 18, of Worcester, MA, received the Dudley R. Herschbach SIYSS Award, which provides finalists an all-expense paid trip to attend the Stockholm International Youth Science Seminar during Nobel Week in Stockholm, Sweden.
Jack Shannon, 18, of Clane, Kildare, Ireland, and Nikhil Vemuri, 17, of Cary, North Carolina, received the EU Contest for Young Scientists Award. Their projects will represent Regeneron ISEF at the EU Contest for Young Scientists to be held this September in Katowice, Poland.
For more information about the top winners and access to visual assets visit: https://www.societyforscience.org/isef-2024-media-kit.
The full list of Special Award ISEF 2024 Finalists can be found at https://www.societyforscience.org/press-release/regeneron-isef-2024-special-awards-winners.
In addition to the Top Award winners, more than 450 finalists received awards and prizes for their innovative research, including “First Award” winners, who each received a $5,000 prize.
The following lists the First Award winners for each of the 22 categories, from which the Top Awards were chosen:
Animal Sciences, sponsored by Society for ScienceMaddux Alexander Springer, Honolulu, Hawaii
Behavioral and Social Sciences, sponsored by Society for ScienceAndrew Y. Liang, San Jose, California
Biochemistry, sponsored by RegeneronAmy Hong Xiao, Garden City, New York
Biomedical and Health Sciences, sponsored by RegeneronRia Kamat, Hackensack, New Jersey; Kevin Xuan Lei, Shanghai, China
Biomedical Engineering, sponsored by Alfred E. Mann CharitiesAyush Garg, Dublin, California; Divij Motwani, Palo Alto, California; Akash Ashish Pai, Portland, Oregon
Cellular and Molecular Biology, sponsored by RegeneronLara and Maya Sarah Hammoud, Beverly Hills, Michigan
Chemistry, sponsored by Society for ScienceAkilan Sankaran, Albuquerque, New Mexico; Arjun Suresh Malpani and Siddharth Daniel D’costa, Portland, Oregon
Computational Biology and Bioinformatics, sponsored by RegeneronKun-Hyung Roh, Bronx, New York
Earth and Environmental Sciences, sponsored by Google.orgNikhil Vemuri, Durham, North Carolina; Justin Yizhou Huang and Victoria Ou, The Woodlands, Texas
Embedded Systems, sponsored by HPChloe Rae and Sophie Rose Filion, Welland, Ontario, Canada
Energy: Sustainable Materials and Design, sponsored by Siemens EnergyAlia Wahban, Hamilton, Ontario, Canada
Engineering Technology: Statics and Dynamics, sponsored by Howmet Aerospace FoundationChiyo Nakatsuji, Bunkyoku, Tokyo, Japan; Kevin Shen, Olympia, Washington
Environmental Engineering, sponsored by JacobsKrish Pai, San Diego, California; Jack Shannon, Clane, Kildare, Ireland
Materials Science, sponsored by Howmet Aerospace FoundationGrace Sun, Lexington, Kentucky
Mathematics, sponsored by Akamai FoundationAnna Oliva, Houston, Texas
Microbiology, sponsored by Schattner FoundationMatthew Chang, Irvine, California
Physics and Astronomy, sponsored by Richard F. Caris Charitable Trust IIHarini Thiagarajan and Vishal Ranganath Yalla, Bothell, Washington; Shuhan Luo, Worcester, Massachusetts
Plant Sciences, sponsored by Society for SciencePauline Estrada, Fresno, California; Tanishka Balaji Aglave, Dover, Florida
Robotics and Intelligent Machines, sponsored by RegeneronMichal Lajciak, Dubnica nad Vahom, Trenciansky kraj, Slovakia; Anthony Efthimiadis, Oakville, Ontario, Canada
Systems Software, sponsored by MicrosoftMichelle Wei, San Jose, California
Technology Enhances the Arts, sponsored by Society for ScienceAnant Khandelwal, Sritan Motati and Siddhant Sood, Alexandria, Virginia
Translational Medical Science, sponsored by RegeneronZheng-Chi Lee, West Lafayette, Indiana; Ingrid Wai Hin Chan, Hong Kong, China
The full list of all award-winning ISEF 2024 finalists is available here: https://www.societyforscience.org/press-release/regeneron-isef-2024-full-awards.
View all the finalists’ research here: https://projectboard.world/isef.
About the Regeneron International Science and Engineering FairThe Regeneron International Science and Engineering Fair (Regeneron ISEF), a program of Society for Science for over 70 years, is the world’s largest global science competition for high school students. Through a global network of local, regional and national science fairs, millions of students are encouraged to explore their passion for scientific inquiry. Each spring, a group of these students is selected as finalists and offered the opportunity to compete for approximately U.S. $9 million in awards and scholarships.
In 2019, Regeneron became the title sponsor of ISEF to help reward and celebrate the best and brightest young minds globally and encourage them to pursue careers in STEM to positively impact the world. Regeneron ISEF is supported by a community of additional sponsors, including Akamai Foundation, Alfred E. Mann Charities, Aramco, Caltech, Google.org, Gordon and Betty Moore Foundation, Howmet Aerospace Foundation, HP, , Jacobs, King Abdulaziz & his Companions Foundation for Giftedness and Creativity, Microsoft, National Geographic Society, Richard F. Caris Charitable Trust II, Rise, an initiative of Schmidt Futures and the Rhodes Trust, Schattner Foundation, Siemens Energy, Annenburg Foundation, Ballmer Group, Broadcom Foundation, Cesco Linguistic Services, Conrad N. Hilton Foundation, Edison International, Insaco, Oracle Academy, The Eli and Edythe Broad Foundation, The Ralph M. Parsons Foundation and US Army ROTC. Many are entrepreneurs across a wide range of industries. Learn more at https://www.societyforscience.org/isef/.
About Society for ScienceSociety for Science is a champion for science, dedicated to promoting the understanding and appreciation of science and the vital role it plays in human advancement. Established in 1921, Society for Science is best known for its award-winning journalism through Science News and Science News Explores, its world-class science research competitions for students, including the Regeneron Science Talent Search, the Regeneron International Science and Engineering Fair and the Thermo Fisher Scientific Junior Innovators Challenge, and its outreach and equity programming that seeks to ensure that all students have an opportunity to pursue a career in STEM. A 501(c)(3) membership organization, Society for Science is committed to inform, educate and inspire. Learn more at www.societyforscience.org and follow us on Facebook, Twitter, Instagram and Snapchat (Society4Science).
About RegeneronRegeneron (NASDAQ: REGN) is a leading biotechnology company that invents, develops and commercializes life-transforming medicines for people with serious diseases. Founded and led by physician-scientists, our unique ability to repeatedly and consistently translate science into medicine has led to numerous approved treatments and product candidates in development, most of which were homegrown in our laboratories. Our medicines and pipeline are designed to help patients with eye diseases, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, neurological diseases, hematologic conditions, infectious diseases and rare diseases.
Regeneron believes that operating as a good corporate citizen is crucial to delivering on our mission. We approach corporate responsibility with three goals in mind: to improve the lives of people with serious diseases, to foster a culture of integrity and excellence and to build sustainable communities. Regeneron is proud to be included on the Dow Jones Sustainability World Index and the Civic 50 list of the most “community-minded” companies in the U.S. Throughout the year, Regeneron empowers and supports employees to give back through our volunteering, pro bono and matching gift programs. Our most significant philanthropic commitments are in the area of early science education, including the Regeneron Science Talent Search and the Regeneron International Science and Engineering Fair (ISEF).
For more information, please visit www.Regeneron.com or follow Regeneron on LinkedIn, Instagram, Facebook or X.
More information about the top winners and access to visual assets visit: https://www.societyforscience.org/isef-2024-media-kit.
Media ContactsJoseph Brown, [email protected]
Gayle Kansagor, Society for [email protected]
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Artificial Intelligence
J.P. Morgan Life Sciences Private Capital, Blue Horizon Advisors and United Al Saqer Announce Winner of Inaugural 2024 Life Sciences Innovation Summit
In conjunction with Abu Dhabi Global Healthcare Week 2024
ABU DHABI, UAE, May 17, 2024 /PRNewswire/ — J.P. Morgan Life Sciences Private Capital, Blue Horizon Advisors and United Al Saqer Group announced today Rayees Rahman of Harmonic Discovery as the winner of the inaugural J.P. Morgan Asset Management: Life Sciences Innovation Summit. Harmonic Discovery is a precision pharmacology company applying its generative chemistry platform to advance next-generation kinase inhibitors.
In partnership with the Department of Health – Abu Dhabi (DoH), the Summit took place on May 14-15, 2024 at Cleveland Clinic Abu Dhabi and showcased the 11 innovative finalists, as well as highlighted existing innovators and opportunities in the Emirate of Abu Dhabi. The event also featured keynote speeches from Dr. Laurie Glimcher of Dana-Farber Cancer Institute, Dr. Shahrukh Hashmi of the Department of Health – Abu Dhabi, and Dr. David Ho of Columbia University Medical Center and provided attendees networking opportunities to gain valuable insights into the future of life sciences innovation.
In addition, the jury designated Chun-Hao Huang of Algen Biotechnologies as honourable mention. Algen Biotechnologies is a platform therapeutics and drug discovery company using world-leading CRISPR and AI to find treatments for cancer, inflammation and metabolic diseases.
The winners were selected by an esteemed, international panel of judges, which included:Laurie Glimcher, MD, President and CEO at Dana-Farber Cancer InstituteJorge Guzman, MD, CEO at Cleveland Clinic Abu DhabiProf. Shahrukh Khurshid Hashmi, MD, Director of Research, Department of Health, Abu DhabiYasmine Hayek Kobeissi, PhD, CQF, BSc., Executive Director at Blue Horizon AdvisorsAnya Schiess, Managing Partner at J.P. Morgan Life Sciences Private CapitalWalid Zaher, PhD, Co-Founder and CEO, Carexso
Dr. Asma Al Mannaei, Executive Director of the Research and Innovation Centre at the Department of Health – Abu Dhabi said: “Under the directives of the UAE’s wise leadership, and renowned for its world-leading medical infrastructure, Abu Dhabi stands at the forefront of healthcare excellence, offering an unparalleled opportunity for advancement in healthcare for global partners. It was our utmost pleasure hosting the J.P. Morgan Asset Management Life Sciences Innovation Summit 2024 on the sidelines of Abu Dhabi Global Healthcare Week and we commend the winners for their pioneering efforts in driving impactful advancements in healthcare; their dedication to innovation not only transforms the landscape of medicine, but also holds the promise of improving lives worldwide.”
Stephen Squinto, PhD, Chief Investment Officer, J.P. Morgan Life Sciences Private Capital said: “We are thrilled with the level of biotech passion and innovation that we observed at this year’s Summit in Abu Dhabi. The energy was truly palpable we are thrilled to announce Rayees Rahman as the winner of our first Life Sciences Innovation Summit. Harmonic Discovery’s approach embodies the next generation of drug discovery and development. We appreciate the time and effort of all participants and cannot wait for our next event in the region.”
Nabil Kobeissi, Chief Executive Officer of Blue Horizon Advisors, said: “As the main sponsor, we are committed to nurturing and fostering the growth of all 11 finalists in this vibrant biotech ecosystem. This Summit marks the beginning of a transformative journey, and we are confident that it will pave the way for a flourishing hub in the region. We are also pleased to announce that we will commit to invest in and partner with the winner, Harmonic Discovery, to support its future growth in the region.”
Sponsors for the event included J.P. Morgan Life Sciences Private Capital, J.P. Morgan Commercial Bank, Blue Horizon Advisors, United Al Saqer Group, Thermo Fisher Scientific, and Salam Capital. The Summit organisation, logistics and finalist recruitment were facilitated by Lyfebulb.
Of importance, at the Summit, Mr. Mohamed Al Breiki, Executive Director of Sustainable Development at Masdar City, announced that Masdar City Free Zone would award all 11 Finalists complimentary business licenses to further support their establishment in the region. Masdar City is one of the world’s most sustainable urban developments and innovation hubs with a growing focus on life science entrepreneurship in Abu Dhabi.
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Artificial Intelligence
Congregating in the Lion City for a Win-Win Future of Intelligent Computing at the Global Data Center Facility Summit 2024
SINGAPORE, May 17, 2024 /PRNewswire/ — On May 17, 2024, the Global Data Center Facility Summit 2024 was held in Singapore with the theme of “Power the Digital Era Forward.” At the summit, over 600 data center industry leaders, technical experts, and ecosystem partners gathered to discuss new trends and opportunities of the global data center industry in the intelligent computing era. The attendees also got to experience all-scenario, all-ecosystem, and all-service end-to-end (E2E) solutions, share innovative practices of green data centers in the Asia Pacific and Europe, and experience the exhibition vehicle to unveil the mystery of Outdoor PowerPOD that features one power system per container. By fully embracing the intelligent computing era, Huawei strives to power the digital era forward.
Seizing Opportunities Brought by AI and Jointly Building Green & Reliable Computing Infrastructure
At the opening speech, Charles Yang, Senior Vice President of Huawei and President of Marketing, Sales and Services, Huawei Digital Power, noted that since ChatGPT ushered in the AI era, large models keep pushing the limits of computing power and the intelligent computing industry is witnessing an unprecedented construction boom. As predicted, 100 GW will be added to the global data center installed capacity and the market value will exceed US$600 billion in the next five years.
According to Charles, with opportunities come challenges. The primary challenge concerning the data center industry is reliability and electricity. Data centers are scaling up from the MW-level to the GW-level. E2E reliability of data centers is becoming even more important than ever. In response to the opportunities, Huawei will work with customers and partners to expand the industry space.
Steering Data Centers to the AI Era with Product + Service + Ecosystem
During the summit, Sun Xiaofeng, President of Huawei Data Center Facility & Critical Power Business, delivered a speech titled “Power the Digital Era Forward. ” He stated that as AI large models are penetrating, the surging compute demands drive the expansive growth in data center.
To address the challenges, Huawei strives to build product + service + ecosystem E2E data center solutions that feature fast deployment, flexible cooling, green energy, and ultimate reliability.
Fast deployment: Data centers are fully modularized and prefabricated to ensure high quality and efficient construction.Flexible cooling: Air-liquid fusion and integrated cooling source emerges as the optimal cooling architecture for intelligent computing.Green energy: New generation-grid-load-storage integrated solution is built to ensure the sound operations of intelligent computing centers.Ultimate reliability: Data centers are safeguarded through reliable products and preventive protection.Currently, Huawei’s global service network covers more than 170 countries with over 1800 professional engineers, providing 24/7 technical support. With N+ flagship service centers, Huawei has built a one-hour service radius for its customers.
The ecosystem is a key part for a win-win future of intelligent computing. Huawei works with partners to develop comprehensive E2E solutions and provide customers with one-stop data center services.
During the summit, Huawei and the ASEAN Centre for Energy released a white paper on “Building Next Generation Data Center Facility in ASEAN.” The document provides insights into the status quo, challenges, and trends of data centers in the ASEAN region, and emphasizes that efficient and energy-saving products and solutions should be applied. It also proposes future-oriented policy recommendations for data center markets.
In the ecosystem exhibition area, Huawei showcased scenario-based solutions for large-, medium-, and small-sized data centers, and demonstrated data center consulting, design, integrated development, and delivery capabilities with dozens of ecosystem partners including CIMC, Weichai, CSCEC, and Huashi.
On a special note, the Huawei Outdoor PowerPOD exhibition vehicle made its global debut. The Huawei Outdoor PowerPOD features one power system per container, outdoor deployment, plug-and-play, and high protection rating and reliability. It has become the preferred choice for decoupling the power supply architecture.
A single tree cannot make a forest.
AI is presenting great opportunities. By delving into the industry, aggregating partner ecosystems, and making innovations applicable to transformations, Huawei will continue to help customers build reliable computing infrastructure, accelerating the industry to embrace AI and powering the digital era forward.
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