3D Printed Drugs Market: Research Report Overview by Industry Size, Share, Trends, Growth & Leading Players (2021-2027)
As per the research report, 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 government's investment in 3D printing technology, venture capital for 3D printing start-ups, and pharma companies' investment in 3D printing technology are all driving growth in the global 3D printed drugs market. According to a study, about 63 percent of pharmaceutical firms are considering investing in 3D printing technology, and the number of professionals using 3D printing technology is three times higher than it was three years before, in 2017. One of the most important factors behind industry growth is venture capital support for 3D printing. Furthermore, the Austrian federal government and the state of Lower Austria jointly proposed two financing packages for 2020 that would promote developments in new emerging technology, including 3D printing.
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Furthermore, the increasing prevalence of chronic illness and the growing number of patients around the world are driving demand for soluble medications, which is driving demand for customizable 3D printing medication. Dysphagia affects approximately 9 million people in the United States each year, according to a survey, and is particularly prevalent among the elderly. Dysphagia affects 50-75 percent of stroke patients and 60-70 percent of head and neck cancer patients who receive radiation therapy. Because of the growing demand worldwide, governments around the world are spending more in healthcare and putting a greater focus on 3D printing technologies for faster manufacturing. According to the OCED, the US government spent USD 8,032.6 per capita in 2015, which increased to USD 9,386.5 per capita in 2019. In the United Kingdom, the government spent USD 3,043.6 per capita in 2015, which increased to USD 3619.5 per capita in 2019.
In addition, as the government places a greater focus on personalised medications and as end-users become more conscious of the advantages of 3D printed products, such as high doses in a single pill, swallowability, and various forms of drugs, the market for 3D printed medicines is growing.
For a detailed analysis of the applications in the 3D Printed Drugs Market browse through – https://univdatos.com/report/global-3d-printed-drugs-market-current-analysis-and-forecast-2020-2027
COVID-19 Impact -
As a result of the COVID 19 pandemic, the market for drugs, medical instruments, and accessories has increased, resulting in an increase in the use of 3D printing. Because of its robotic processing capability, 3D printing is a quicker manufacturing process. Several printers have been introduced by firms in the additive manufacturing industry to further improve the manufacture of drugs and other necessary goods. During the COVID pandemic, HP provided researchers with the "D300e Bioprinter" to help in the production of a vaccine and medicines to combat COVID-19 in the United States and Europe. Furthermore, the opioid crisis during the COVID pandemic has piqued pharma companies' interest in delivering drugs quickly. According to the National Institute of Health of the United States, medication shortages in 2020 will be 87 percent of those registered in 2019 in half the period. When contemplating the impact of the second wave of COVID-19 cases, it's possible the drug shortages will worsen.
Insights Presented in the Report
“Amongst applications, neurology is expected to dominate the market during the analyzed period”
The market is divided into Orthopedic, Neurology, Hearing & Audibility Aid, Medical Implants, Dental, among Others based on the applications. In 2019, the neurology division captured the majority of the market share, accounting for 35.1 percent of total sales. The rising prevalence of neurological disorders is causing this section to rise in size. According to a survey, neurological disabilities are the leading cause of disability worldwide, with about 1 billion people afflicted by a kind of neurological illness. Furthermore, during the forecast period of 2021-2027, the orthopaedic segment is projected to rise at a CAGR of more than 15.9%.
“Amongst technology, inkjet printing segment holds the major share”
The market is divided into inkjet printing, fused deposition modelling, stereolithography, and other product types. Because of advantages such as low cost, programmability, high resolution, high throughput, high speed, and biocompatibility of these printers, as well as the introduction of new products by key players in the industry, the inkjet printing segment dominated the market with a share of 42.2 percent in 2019 and is expected to continue its dominance throughout the forecast period.
“Amongst drug form, the tablet is expected to dominate the market during the analyzed period”
The industry is divided into pill, capsules, multidrug implants, nanoparticles, solutions, nanosuspension, encapsulated inside a polymer, among others, depending on the medication type. In 2019, the tablet division captured the majority of the market share, accounting for 29.8% of total sales. Tablets have advantages such as a longer shelf life and a range of shapes. In addition, compared to a capsule, it can hold a larger dose of an active ingredient. Furthermore, during the forecast period of 2021-2027, the capsule segment is projected to expand at a CAGR of more than 15.8%.
“North America represents one of the largest markets of the 3D Printed Drugs market”
A systematic research was performed for various regions around the globe, including North America (the United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, United Kingdom, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and the Rest of APAC), and the Rest of the World, to get a greater understanding of the consumer conditions of 3D Printed Drugs. Because of rising healthcare IT spending in countries such as the United States and Canada, North America led the industry in 2019, generating sales of US$ 306.8 million. Furthermore, the region's dominance across the globe is due to the involvement of well-established players in additive manufacturing.
The 3D Printed Drugs Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.