Growing rate of the technological developments in 3D printing has advanced to a wide range of applications in various end-user industries. It is one of the major factors boosting the ever evolving medical field due to the ongoing advancement going in 3D printed drugs. The demand for 3D printed drugs is believed to expand in upcoming years owing to the ease of ingestion of the drugs combined with inducing various flavors to negate the sour taste for the patients suffering from several diseases causing seizures such as epilepsy along with the medicinal intake by elderly people and infants. Further, the applications of 3D printed drugs in customized medicinal therapy are widening its area to various diseases such as cancer and others that could not be done before. These factors are predicted to supplement the growth of the 3D printed drugs by reaching USD 1,559.8 Million by the end of 2024 from USD 489.9 Million in 2017, by witnessing a CAGR of 18.2% over the period 2018-2024.
The global 3D printed drugs market is segmented by applications into orthopedic, neurology, hearing & audibility aid, medical implants, dental and others, out of which, the neurology segment held the dominant market share of more than 35% in 2016. There is the presence of major number of diseases related to brain disorders that are directly or indirectly related to the malfunctioning of the nervous system. Driven by these factors, the neurology segment is believed to dominate the 3D printed drugs market and is anticipated to achieve absolute $ opportunity of USD 437.9 Million between 2018 and 2024. Further, the orthopedic segment held the second largest share of 23.0% in 2016 and is predicted to observe the significant growth rate between the period 2018 and 2024.
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Furthermore, the hearing & audibility aid segment is believed to be augmented with highest CAGR over the forecast period.
Increasing Popularity of Personalized Medicine to Escalate the Demand for 3D Printed Drugs Market in Future
The 3D printed drugs market is thriving on the back of high-drug loading capacity such as high production rates and increasing R&D activities among major market players along with its wide range of applications around the globe.
Flexibility in Design – The high drug loading capacity is possible due to the flexibility in design, development and manufacture of single or multi-drug products with built-in immediate and controlled-release layers that can be tailored to unique patient’s situations.
Ease in Ingestion – By enabling delivery of high-dose medications in a rapidly fragile form, ZipDose overcomes the patients’ difficulty in swallowing.
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Industry Players’ are Progressing towards Minimizing the Barriers faced by the Global 3D Printed Drugs Market
According to Research Nester, the lack of strict regulatory norms associated with the approval for 3D printed drugs in the developed countries is envisioned to hinder the growth of the 3D printed drugs market across the globe. Further, various security and safety concerns associated with the patient’s medical data might add to the slow growth rate of 3D printed drugs market during the forecast period.
The report titled “Global 3D Printed Drugs Market Outlook: Industry Demand Analysis & Opportunity Evaluation 2017-2024” delivers detailed overview of the 3D printed drugs market in terms of market segmentation by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the 3D printed drugs market which includes company profiling of Aprecia Pharmaceuticals LLC., FabRx Ltd. and GlaxoSmithKline (GSK).
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the 3D printed drugs market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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