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SpaceX has dramatically changed space exploration by achieving over 95% of launches in the past two years using reusable rockets, reducing the cost of sending a pound of cargo to orbit from $30,000 to $1,200. This reduction is facilitating the growth of a new space economy.

Notable advancements include the International Space Station (ISS) successfully 3D printing the first human knee meniscus in orbit and live human cardiac tissue, enabling research that takes advantage of microgravity conditions. Drug development benefits from this environment, allowing for better protein crystallization and molecular analysis.

Additionally, Varda, a startup, launched a space-based drug factory on a SpaceX rocket, demonstrating the viability of pharmaceutical production in orbit. The significant drop in launch costs is expected to foster new industries and investment opportunities in space.