3D Printed Drugs Market is Expected to Reach US$ 2,064.8 million by 2027
The global 3D printed drugs market is witnessing an uptick on account of the government’s investment in the 3D printing technology, raising venture capital for 3D printing startups, and the investment by the pharma companies in 3D printing technology. In a study, it was found that around 63% of the pharma companies are thinking of investing in 3D printing technology and the number of professionals using 3D printing technology was 3 times higher than that of 3 years ago which was in 2017. The Venture capital funding for 3D printing is also one of the most prominent reasons for market growth. Furthermore, the state of Lower Austria and the Austrian federal government together announced two funding packages in 2020 which will support investments in advanced digital technologies, including 3D printing.
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Moreover, the surging prevalence of chronic disease and the rising number of patients globally generating the demand for soluble drugs, due to which the demand for personalized 3D printed medicine is emerging. In a study, it was found that Dysphagia affects approximately 9 million adults per year in the United States and is especially prevalent among the elderly. Characteristically, 50-75% of stroke patients and 60-70% of patients who undergo radiation therapy for head and neck cancer have dysphagia. The government across countries is investing more in healthcare and more emphasis on 3D printing technology for quick production owing to the surging need globally. As per OCED, the government in the United States spend USD 8,032.6 USD per capita in 2015 that increased to USD 9,386.5 USD per capita in 2019 same way in the U.K the government spent 3,043.6 USD per capita in 2015 that increased to USD 3619.5 USD per capita in 2019.
Also, surging government’s emphasis on personalized medicine and the rising end-user’s awareness about the medicine as per individual’s need coupled with the benefits such as high dose in single tablet, swallowable, and different form of drugs is generating the demand for the 3D printed drugs so, the market is promulgating.
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The global 3D Printed Drugs market is highly fragmented. The availability of numerous global and local players across regions makes the industry highly competitive. The key players with a considerable market share in the industry are GlaxoSmithKline plc., Aprecia Pharmaceuticals, LLC., AstraZeneca, FabRx Ltd, Merck KGaA, Hewlett Packard Caribe, Cycle Pharmaceuticals, Tvasta, etc. Several M&A’s along with partnerships have been undertaken by these players to facilitate costumers with hi-tech and innovative products.
Insights Presented in the Report
“Amongst technology, inkjet printing segment holds the major share”
Based on product type, the market is fragmented into inkjet printing, fused deposition modeling, stereolithography, and others. The inkjet printing segment dominated the market with a share of 42.2% in 2019 and is expected to maintain its dominance during the forecast period on account of the benefits such as low cost, programmability, high resolution, high throughput, high speed, and biocompatibility of these printers and the launch of new products by the key players in the industry.
“Amongst applications, neurology is expected to dominate the market during the analyzed period”
Based on the applications market is segmented into Orthopedic, Neurology, Hearing & Audibility Aid, Medical Implants, Dental, and others. In 2019, the neurology segment grabbed the major market share and accounted for 35.1% of the market revenue share. The surging prevalence of the neurological disorder is leading to the growing share of this segment. In a study, it was found that Neurological disorders are the number one cause of disability globally and around 1 billion people throughout the world are affected by some type of neurological disease. Moreover, the orthopedic segment is expected to grow with a CAGR of more than 15.9% during the forecast period of 2021-27.
“Amongst drug form, the tablet is expected to dominate the market during the analyzed period”
Based on the drug form, the market is segmented into the tablet, capsules, multidrug implants, nanoparticles, solutions, nanosuspension, encapsulated within a polymer, and others. In 2019, the tablet segment grabbed the major market share and accounted for 29.8% of the market revenue share. The properties of tablets such as longer shelf life, variety of forms. Also, it accommodates a higher dose of an active ingredient than a capsule. Moreover, the capsule segment is expected to grow with a CAGR of more than 15.8% during the forecast period of 2021-27.
“North America represents one of the largest markets of the 3D Printed Drugs market”
For a better understanding of the market dynamics of the 3D Printed Drugs market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, 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 Rest of APAC) and Rest of the World has been conducted. North America dominated the market and generated revenue of US$ 306.8 million in 2019 owing to the escalating healthcare IT investment in the countries such as the U.S and Canada. Moreover, the presence of well-established players in additive manufacturing makes the region dominant across the globe.
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