Insights on the 3D Printed Drug Market to 2019 - Advancements in Supply Chain Management, Industry Presents Opportunities, Business Strategy By 2026 | FabRX (U.K) and Multiply Labs (U.S.) that are working on products and generic drug types that can be con
Global 3D printed drug market was valued at USD 248 million in 2018 and is expected to grow at the CAGR of 8.3% during the forecast period 2019–2026.
One of the first three-dimensional printing (3DP) technology was developed at Massachusetts Institute of Technology (MIT) in 1980 as a rapid prototyping technique. It is a computerized design technique, which is flexible, time-saving, and possesses extraordinary manufacturing capabilities. In the last few years, 3D printing has gained huge attention in the pharmaceutical sector due to the overwhelming challenges of conventional pharmaceutical operations after the approval of Aprecia Pharmaceutical’s Spritam tablet from the U.S. FDA. Also, a number of start-ups such as FabRX have started using 3D printing technology for the manufacturing of drugs and medicine, which is further providing a platform to formulate and manufacture 3D printed medications with any drug compound. Similarly, Multiply Labs are using 3D printing technology to manufacture supplement capsules, which will allow the user to take single supplement capsules.
The 3D printing market is majorly driven by the increasing prevalence of dysphagia and the increasing demand for instantaneously soluble drugs. In August 2015, the U.S. FDA approved Pennsylvania-based Aprecia Pharmaceuticals Company’s first 3D printed drug, named Spritam tablet, which is formulated using ZipDose technology and is used to treat epilepsy disorder.
3D printing is versatile and cost-effective in nature, which is further grabbing the attention of the key market players. Moreover, the three most used systems in orienting medicines are printing-based inkjet systems, nozzle-based deposition systems, and laser-based writing systems. The technology is used in several industries—especially the healthcare industry—for the manufacturing of a number of products. In the healthcare industry, the technology will be able to print tissues with blood vessels, prosthetics, medical drugs, implanting bones, heart valves, ear cartilage, skull replacement, and synthetic skin, among others.
North America is accounted for the largest share of the global 3D printed drugs market and is expected to continue the same during the forecast period as the region has the presence of technologically advanced countries such as the U.S. and Canada. Moreover, the increasing prevalence of epilepsy and cardiovascular disease in the region is driving the market growth. As per the CDC, in 2015, around 1.2% (3.4 million) of the U.S. population suffered from epilepsy.
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The Major Prominent Players Covered in this Report:
FabRX (U.K) and Multiply Labs (U.S.) that are working on products and generic drug types that can be converted into 3D. With the continuous growth and acceptance, the big pharmaceutical giants such as GlaxoSmithKline (U.K), AstraZeneca (U.K) are also expected to enter the market. & More.
Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for 3D Printed Drug in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global 3D Printed Drug market during the forecast period 2019-2026. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of 3D Printed Drug and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of 3D Printed Drug. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.
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Key Questions Answered in The Report:
What will the 3D Printed Drug market growth rate?
What are the key factors driving the global 3D Printed Drug market?
Who are the key manufacturers in the 3D Printed Drug market space?
What are the market opportunities, market risk, and market overview of the 3D Printed Drug market?
What are sales, revenue, and price analysis of top manufacturers of the 3D Printed Drug market?
Who are the distributors, traders, and dealers of the 3D Printed Drug market?
What are the market opportunities and threats faced by the vendors in the global Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by types and applications of the 3D Printed Drug Industry?
What are sales, revenue, and price analysis by regions of 3D Printed Drug industry?
What are the driving factors contributing to market growth during the short, medium, and long term?
Market Strategies -
Manufacturers are targeting highly prescribed drugs and the most common diseases to increase personalization, which will enable patients to treat themselves. This will further reduce hospital visits and overall cost for the patients.
In the future, patients will be able to download blueprints for drugs and print them at home. Personalization is the ‘attractive’ driver. However, distribution and reach are some of the major concerns in the developing world.
3D printing of drugs is a break-through innovative technology, which is expected to create more opportunities to develop safer and efficient technologies for prescription drugs. In the future, 3D printing facilities may be set up at hospitals, clinics, pharmacies, and patients’ homes to facilitate treatment by creating patient-specific regimens.
Key 3D Printed Drug Market Trends:
- The report identifies, determines, and forecasts the Global 3D Printed Drug Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the 3D Printed Drug Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global 3D Printed Drug Market.
Factors to Drive the Market -
Increasing research activities, rising prevalence of various diseases such as epilepsy, and growing government initiatives are driving the market growth. Moreover, increasing awareness and disposable income is likely to generate a huge demand for drugs by 2025.
The market is considering the availability of the drug in various regions, their regulatory policies, and approval in various countries. Currently, there are no regulations or guidelines imposed on the manufacturing of the drugs. However, it is expected to emerge with the advancements in technology and usage.
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