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3D Printed Drugs Market is growing at a CAGR of 4.2% over the forecast period | Size & Analysis
The 3D Printed Drugs Market is growing at a CAGR of 4.2% over the forecast period.For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/global-3d-printed-drugs-market-by-technique-type/
The factors driving growth of the 3D Printed Drugs Market includes increasing geriatric population around the world, growing demand for soluble drugs, rising prevalence of stroke, Alzheimer's disease and head and neck tumors and improvements in the living standards. For instance, the population aged 60 and above across India was calculated around 138 million in 2021 and is expected to reach 194 million by the end of 2031, which is expected to accelerate the 3D Printed Drugs Market size in the approaching years. Moreover, growing adoption of advanced technologies by manufacturers, rise in Government spending to enhance the healthcare infrastructure, increasing popularity of personalized drugs across the globe and rapid urbanization, are some of the additional factors supplementing the Global 3D Printed Drugs Market. In addition, the increasing investments by major companies on research and development, strategic partnerships, and collaborations between key industry players, rise in the launch of innovative products and growing disposable incomes, are further contributing towards the market growth.
However, lack of Government regulations regarding the manufacturing of 3D printed drugs, might hamper the market growth.
The major players operating in the market are Merck KGaA, Hewlett Packard Caribe, Cycle Pharmaceuticals, Aprecia Pharmaceuticals LLC, GlaxoSmithKline Plc., FabRx Ltd., and Tvasta, among others.
Based on Type, the Fused Deposition Modelling segment is predicted to expand at a remarkable CAGR during the forecast period
Fused deposition modelling shortens time to print 3D and speeds up the prototyping process, are pushing growth of the segment.
On the other hand, the Inkjet Printing Infant segment is projected to hold the highest market share during the forecast period. Inkjet printing helps in produces 3D Drugs tablets, along with rising incidences of epilepsy, are pushing growth of the segment.
Based on Region, the Asia-Pacific region is expected to capture the largest market share over the forecast period
Government polices promoting the manufacturing of pharmaceutical products, increased adoption of advanced technologies by manufacturers, rapid industrialization, growing prevalence of Alzheimer's disease and high population growth rates, are some of the important factors augmenting the market growth in the Asia-Pacific region.
Key Developments
In 2020, Aprecia Pharmaceuticals LLC signed an agreement with the Purdue University's College of Pharmacy for advace technologies and science of 3D pharmaceutical printing. The companies planned to focus on developing future 3D printed pharmaceutical equipment and medications.
In 2020, Merck KGaA signed an agreement with Additive Manufacturing Customized Machines (AMCM) to develop a prototype printer, which is projected to be completed towards the end of 2020.
In 2018, Cycle Pharmaceuticals entered into a partnership with US-based Aprecia Pharmaceuticals for the development and commercialization of drugs for rare diseases using 3D printed technology. It will further helps to deliver quality of life improvements over existing approved orphan drugs.
Market Segmentation
Segmentation by Technique Type
Fused Deposition Modelling
Inkjet Printing Infant
Selective Laser Sintering
Stereolithography
Others
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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