Global 3d Printed Drugs Market Is Expected to Foresee Significant Growth During the Forecast Period
The global 3D printed drugs market is expected to reach the market valuation of US$ 2,064.8 million by 2027 expanding at a reasonable CAGR of 15.2% during the forecast period (2021-2027) from US$ 638.6 million in 2019. The surging elderly population coupled with the prevalence of communicable and non-communicable diseases leading to the demand for medicines therefore, the market of 3D printed drugs is witnessing an uptick.
The various factors driving the demand for 3D printed drugs include the growing end-user’s awareness which is leading to the emerging demand for personalized medicines Moreover, the proliferating prevalence of dysphagia is a key factor leading to the growing demand for instantaneous soluble drugs. In a study, it was found that the prevalence of dysphagia in the general population of 29 years to 32 years is around 16-23% which is increasing to 27% in those over 76 years of age. Furthermore, the government across the globe is more focused on 3D printing technology therefore investing in the same. In 2020, the government of Australia along with and the state of Lower Austria have launched two funding packages for digital technologies including 3D printing. Also, the government of the United Kingdom invested US$ 920.4 in 2010 for technologies including 3D printing as well.
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The global shortage of drugs coupled with the COVID -19 pandemic gave a robust growth the 3D printing in the pharma sector. In a report, it was found that every quarter since 2014, around 150 to 300 drugs have been in short supply in the U.S due to issues such as quality, manufacturing issues, raw material shortage, increased demand, etc. Furthermore, the emergence of new players in the industry coupled with the launch of a new 3D printer and material for the drugs is leading to the growth of the market. For instance: In 2020, FabRx Ltd launched the “M3DIMAKER™”, the first pharmaceutical 3D printer for the manufacture of personalized medicines. Also, the rise in the series funding in the start-ups is acting as a growth catalyst to the industry. For instance: Triastek, a china-based 3D printing start-up raised US$ 15 million in Series A funding to accelerate the research and development of its 3D printed drugs.
Based on technology type, the market is fragmented into Inkjet printing, Fused deposition modeling, Stereolithography, and Others. The inkjet printing segment dominated the market in 2019 and accounted for 42.2%. The segment is anticipated to maintain its dominance during the forecast period as well on account of the benefits such as low cost, high quality of output, reasonably fast, etc. Moreover, the key players are launching new inkjet printers with a high capacity which is gaining end-users traction, and market share is witnessing an uptick. However, the stereolithography segment is expected to witness substantial growth during the forthcoming years.
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Based on applications, the market is fragmented into the Orthopaedic, Neurology, Hearing & Audibility Aid, Medical Implants, Dental, and Others. The neurology segment grabbed the major market share and dominated the market. The segment gathered 35.1% in 2019 and the same trend of dominance is expected in the forthcoming year as well owing to the rising number of patients related to mental illness and other neuro problems. As per WHO, the number of disability-adjusted life years (DALYs) for neurological disorders is forecasted to reach from 94,608 in 2015 to 103,335,000 in 2030.
Based on drug form, the market is fragmented into tablets, Capsules, Multi-Drug Implants, Nanoparticles, Solutions, Nano Suspension, Encapsulated within a polymer, and Implant. The tablets segment grabbed the major market share and dominated the market. The segment gathered 29.8% in 2019 and the same trend of dominance is expected in the forthcoming year as well owing to the benefits such as a higher dose of an active ingredient than a capsule, higher shelf life than any other form, etc.
Based on the drug, the market is fragmented into spritam and Others. Spritam being the first 3D printed medicine grabbed the major market share. The segment accounted for 65.2% in 2019. However, the surging prevalence of disease and the emergence of a new disease is resulting in the growing share of other drugs. It is forecasted that other drugs would grow at a CAGR of 18.7% during 2021-27.
Based on end-user, the market is fragmented into Hospitals, Clinics, and Research Laboratories. The research laboratories segment grabbed the major market share as the 3D printing technology is relatively new. Moreover, the investments by the companies for the R&D of 3D printing are resulting in the growing share of research laboratories.
Additionally, the report provides detailed initiatives that are being taken in the field of 3D printed drugs. The market is classified into distinct regions including North America (the U.S and Canada), Europe (Germany, France, Spain, Italy, and United Kingdom), Asia-Pacific (China, Japan, India, South Korea, and Australia), Rest of the World. North America dominated the market and generated revenue of US$ 306.8 million in 2019 owing to the presence of players such as Aprecia pharmaceuticals, GlaxoSmithKline Plc., Cycle Pharmaceuticals, etc., However, Asia-Pacific is anticipated to witness the highest CAGR during the forecast period.
Aprecia Pharmaceuticals, LLC., GlaxoSmithKline plc, AstraZeneca, FabRx Ltd., Hewlett Packard Caribe, Merck KGaA, Cycle Pharmaceuticals, Tvasta, and MSD are some of the prominent players operating in the global 3D printed drugs market. Several M&A’s along with partnerships have been undertaken by these players to develop 3D Printed Drugs.
Global 3D Printed Drugs Market Segmentation
Market Insight, by Application
- Hearing & Audibility Aid
- Medical Implants
Market Insight, by Drug Form
- Multi-Drug Implants
- Nano Particles
- Nano Suspension
- Encapsulated within a Polymer
Market Insight, by Drug
Market Insight, by End-User
- Research Laboratories
Market Insight, by Region
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- Aprecia Pharmaceuticals, LLC.
- GlaxoSmithKline plc
- FabRx Ltd.
- Hewlett Packard Caribe
- Merck KGaA
- Cycle Pharmaceuticals
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