3D Printed Drugs Market Expected to Cross $522 Million by 2030
Pune, Maharashtra, India, September 18 2020 (Wiredrelease) Allied Analytics –:According to a new report published by Allied Market Research, titled, 3D Printed Drugs Market by Forecast Scenario Analysis: Global Opportunity Analysis and Industry Forecast, 2017-2030, Spritam is the only 3D printed drug available in the market since 2016 to treat epilepsy. The potential market for other 3D printed drugs (moderate growth scenario) is estimated to be $278 million in 2020, and would reach $522 million by 2030, growing at a CAGR of 6.5% from 2020 to 2030. U.S. market holds the highest market share in 2020.
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3D printed drugs are medications created by 3D printing technology that are used to treat patients suffering from dysphagia. 3D printed drugs have porous structures that can disintegrate rapidly inside the mouth itself. Aprecia Pharmaceuticals Companys SPRITAM levetiracetam is the first 3D printed drug, which has been approved by the U.S. Food and Drug Administration (FDA) in August 2015.
Constant technological developments in 3D printing technique, rise in incidence of epilepsy cases, and increase in awareness about the 3D printing technology in the developing countries drive the growth of the market. However, lack of government regulations related to these drugs and adverse effects of 3D printed drugs are expected to limit the market growth.
The global 3D printed drugs market is analyzed based on forecast scenario such as low growth scenario, moderate growth scenario, and rapid growth scenario.
According to low growth scenario, the U.S. is anticipated to account for the highest market share in 2020, and rest of North America market is expected to grow at the highest rate, registering the CAGR of 5.1% by 2030.
Europe is estimated to account for four-sevenths share in 2020, and is expected to dominate the market throughout the forecast period, due to presence of well-established healthcare systems and increase in prevalence of dysphagia. In addition, increase in adoption of 3D printed drugs is anticipated to provide new growth opportunities for the key players in the European market. However, Asia-Pacific is projected to grow at the highest growth rate during the analysis period, owing to increase in healthcare expenditure, rise in awareness related to 3D printing technique, presence of large patient pool, and developments in healthcare infrastructure.
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Key Findings of 3D Printed Drugs Market:
In North America, the U.S. is anticipated to dominate the market in 2020, whereas rest of North America is projected to grow at the highest CAGR during the forecast period.
Germany was the major shareholder in the European 3D printed drugs market in 2016.
Asia-Pacific is expected to register the highest growth rate in future.
Australia is expected to grow at the highest CAGR in the Asia-Pacific 3D printed drugs market.
The key players profiled in this report include Aprecia Pharmaceuticals, GlaxoSmithKline Plc., Hewlett Packard Caribe, BV, LLC, 3D Printer Drug Machine, and FabRx Ltd.
The organizations engaged in the research of 3D printed drugs included in this report are UCL School of Pharmacy, University of Glasgow, University College London, The University of Nottingham, and National University of Singapore.
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