3D Printed Drugs Market to Reach US$ 2,064.8 Million by 2027 Globally | CAGR: 15.2% | UnivDatos Market Insights
NOIDA, India, Feb. 9, 2021 /PRNewswire/ -- A comprehensive overview of the 3D printed drugs market is recently added by UnivDatos Market Insights to its humongous database. The 3D Printed Drugs market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the 3D printed drugs market. The 3D printed drugs market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the 3D Printed Drugs market at the global and regional levels. The Global 3D Printed Drugs market is expected to grow at a CAGR of 15.2% from 2021-2027 to reach US$ 2,064.8 million by 2027.
Market Overview
The proliferating prevalence of chronic disease coupled with the surging number of patients with dysphagia across the globe is leading to the growing demand for instantaneous soluble drugs therefore the market of 3D printed is witnessing an uptick. In a report, 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. Also, a surge in the geriatric population is demanding soluble and personalized drugs. Many older people will have swallowing problems. The prevalence of dysphagia increases with the degree of frailty present and the degree of dependence irrespective of ethnicity. As per the United Nations, there were 703 million persons aged 65 years or over in the world in 2019 and the number of older persons is projected to double to 1.5 billion in 2050. Also, as per the Brazilian Journal of Otorhinolaryngology, approximately 36% of the total population and 65 million people were got affected by dysphagia in 2017 and the count is increasing at a steady growth. Furthermore, technological advancements in healthcare owing to the rapidly increasing demand for medicines coupled with the government's emphasis and investments in the 3D printing industry is also contributing to the growth of the market.
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COVID-19 Impact
The COVID 19 pandemic has busted out as the demand for medicines, medical equipment, and devices therefore, the adoption of 3D printing has witnessed an uptick. 3D printing is a faster manufacturing technique because of its digital manufacturing capabilities. The companies in the additive manufacturing industry have launched several printers to boost the production of medicines and other required products. During the COVID pandemic, HP deployed "D300e Bioprinter" to researchers to aid in the development of a vaccine and drugs to fight COVID-19 in the U.S. and Europe. Moreover, the drug shortage during the COVID pandemic has gain pharma manufacturers' interest in the quick delivery of medicines. 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. When considering the effect of the second wave of COVID-19 cases medication shortages will likely continue to escalate.
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Global 3D Printed Drugs Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Technology, the market is primarily bifurcated into
- Inkjet printing
- Fused deposition modeling
- Stereolithography
- Others
The inkjet printing segment dominated the technology segment of the 3D printed drugs market in 2019 and will grow at 16.63% CAGR to reach US$ 954.1 million by the year 2027.
By Application, the market is primarily segmented into
- Orthopedic
- Neurology
- Hearing & Audibility Aid
- Medical Implants
- Dental
- Others
Amongst applications, the neurology segment accounted for the largest share and is expected to grow at 16.25% CAGR during the forecast period 2021-2027. In 2019, the neurology 3D printed drugs segment accounted for a revenue share of almost 35.1%.
By Drug Form, the market is primarily segmented into
- Tablet
- Capsules
- Multi-Drug Implants
- Nanoparticles
- Solutions
- Nano Suspension
- Encapsulated within a polymer
- Implant
Amongst drug form, tablet form accounted for the largest share and is expected to grow at 16.3% CAGR during the forecast period 2021-2027. In 2019, the tablet drugs segment accounted for a revenue share of almost 29.8%.
By Drug, the market is primarily segmented into
- Spritam
- Others
Amongst drugs, Spritam being the FDA-approved first 3D printed drug grabbed the largest share and accounted for 65.2% in 2019. However, other drugs are expected to grow at the highest CAGR during the forecast period.
By End-Users, the market is primarily segmented into
- Hospitals
- Clinics
- Research Laboratories
In 2019, the research laboratories segment dominated the global 3D Printed Drugs market with nearly 51.7% of the market share and it is anticipated by 2027, the segment will garner US$ 1,078.2 million of the market.
3D Printed Drugs Market Geographical Segmentation Includes:
- North America
- Europe
- Asia-Pacific
- Rest of the World
Based on the estimation, the North America region dominated the 3D Printed Drugs market with almost US$ 306.8 million revenue in 2019. At the same time, the Asia-Pacific region is expected to grow remarkably with a CAGR of 19.8% over the forecast period owing to the surging government's emphasis on 3D printing in the healthcare industry.
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The major players targeting the market includes
- Aprecia Pharmaceuticals LLC
- GlaxoSmithKline Plc
- FabRx Ltd
- Hewlett Packard Caribe
- Merck KGaA
- Cycle Pharmaceuticals
- Tvasta
- AstraZeneca
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the 3D printed drugs market. The leading players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
- What are the latest trends, new patterns, and technological advancements in the 3D printed drugs market?
- Which factors are influencing the 3D printed drugs market over the forecast period?
- What are the global challenges, threats, and risks in the 3D printed drugs market?
- Which factors are propelling and restraining the 3D printed drugs market?
- What are the demanding global regions of the 3D printed drugs market?
- What will be the global market size in the upcoming years?
- What are the crucial market acquisition strategies and policies applied by global companies?
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