Global 3D Printed Drugs Market Forecast 2020-2027
Posted by Sonika on January 29th, 2021
Bharat Book Bureau Provides the Trending Market Research Report on “Global 3D Printed Drugs Market: Current Analysis and Forecast (2020-2027) ”under Pharmaceutical Category. The report offers a collection of superior market research, market analysis, competitive intelligence and Market reports.
3D printed drugs are gaining popularity on account of their benefits to not only the consumer but also to the drug/ pharma manufacturing companies. The drugs manufacturing companies are inclined and adopting additive manufacturing technology to their production unit for purposes such as reduce costs, mass production, and personalized medicine as well. Moreover, 3D printed drugs are driving the pharmaceutical industry towards personalized medicine. Moreover, the surging prevalence of dysphagia is contributing to the growing demand for the personalized medicines. In the general population of 29 years to 32 years, the prevalence of dysphagia is around 16-23% which is increasing to 27% in those over 76 years of age. Also, 50% of people have difficulties during pill intake, As revealed by PMLiVE. The difficulty in pill intake is because of the size and shape of the medicine. Therefore, companies had started producing personalized medicine in different sizes, shapes, and dosage.
The government across the countries are investing in 3D printing projects. 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 USD 920.40 in 2010 for technologies including 3D printing as well. Also, the COVID-19 pandemic gave a robust growth to the 3D printed drugs market owing to the shortage of medicine. As per the U.S National Library of Medicine National Institute of Health, Medication shortages in 2020 have reached 87% that of the shortages reported in 2019 in half of the time.
Based on the technology, the 3D printed drugs market is bifurcated into Inkjet printing, Fused deposition modeling, Stereolithography, and others. The Inkjet printing segment generated revenue of US$ 269.7 million in 2019.
The market for the Inkjet printing segment is expected to grow at a CAGR of 16.6% during the forecast period to reach a market valuation of US$ 954.1 million by 2027. However, Stereolithography Market is expected to witness substantial growth during the forecast period 2021-2027.
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Based on the application type, the 3D printed drugs market is fragmented into Orthopedic, Neurology, Hearing & Audibility Aid, Medical Implants, Dental, and Others. The neurology segment generated revenue of US$ 224.2 million in 2019. The market is expected to grow at a CAGR of 16.2% during the forecast period to reach a market valuation of US$ 775.7 million by 2027.
Based on drug form, the 3D printed drugs market is fragmented into Tablet, Capsules, Multi-Drug Implants, Nanoparticles, Solutions, Nano Suspension, Encapsulated within a polymer and Implant. The Tablet segment generated revenue of US$ 190.5 million in 2019. The market is expected to grow at a CAGR of 16.3% during the forecast period to reach a market valuation of US$ 663.4 million by 2027.
Based on the drug, the 3D printed drugs market is fragmented into Spritam and Others. The Spritam segment generated revenue of US$ 416.3 million in 2019. The market is expected to grow at a CAGR of 12.8% during the forecast period to reach a market valuation of US$ 1142.9 million by 2027. However, the other segment would proliferate with the highest CAGR during the forthcoming years.
Based on end-users, the 3D printed drugs market is fragmented into Hospitals, Clinics, and Research Laboratories. The hospital segment generated revenue of US$ 204.8 million in 2019. The market is expected to grow at a CAGR of 15.6 % during the forecast period to reach a market valuation of US$ 680.7 billion by 2027. However, the research laboratories segment is expected to witness the highest CAGR during the forecast period.
For a better understanding of the market penetration of 3D printed drugs, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South-Korea, and Rest of Asia-Pacific), and Rest of the world. North America constitutes a major market for 3D printed medicine.
Some of the major players operating in the market include Aprecia Pharmaceuticals, LLC., GlaxoSmithKline plc, AstraZeneca, FabRx Ltd., Hewlett Packard Caribe, Merck KGaA, Cycle Pharmaceuticals, and Tvasta.
The global 3D printed drugs market was valued at US$ 638.6 million in 2019 and is projected to expand significantly with a CAGR of 15.24 % from 2021 to 2027. The global 3D printed drugs market is expected to witness a boost, owing to the surging prevalence of dysphagia, rising investment in healthcare technologies, and the surging demand for the personalized medicines.
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