3D Printed Drugs Market Growing to almost Touch USD 1 billion by 2028
Global 3D printed drugs market flourishing owing to an increasing of 3D printed drugs in various industrial applications for improved product manufacturing and faster time to market..
BlueWeave Consulting, a leading strategic consulting and market research firm, estimated Global 3D Printed Drugs Market size value at USD 347.2 million in 2021. Also, BlueWeave expects the market to expand at a double-digit CAGR of 16.4% during the forecast period (2022–2028) to reach a size of USD 965.7 million by 2028. The market expansion is primarily driven by an increasing use of 3D printing as an additive in the medical and healthcare sectors. Over the next few years, it is expected that the growing trend of creating prosthetic bones utilizing 3D printing technology will benefit the growth of Global 3D Printed Drugs Market. An increasing availability of individual drugs and the production of combination medications, both of which are being fueled by 3D printing, are also forecast to drive the demand for 3D printed drugs.
Global 3D Printed Drugs Market - Technology Advancements
The main reason fueling the growth of the worldwide 3D printed drugs market is a surge in demand for instantly soluble medications that dissolve readily in the mouth. Additionally, an increasing use of 3D printing technology in the medical and healthcare sectors, raising use of personalized medications, and the creation of combination medications all contribute to the market's expansion. However, negative drug-related side effects, the use of 3D printing to create illicit substances, and a lack of government restrictions for 3D printed goods may limit the market expansion. On the other hand, improvements in healthcare infrastructure, technological breakthroughs, and increased knowledge of the benefits of these drugs, such as their rapid solubility in developing economies, are expected to create a wide range of growth prospects for the market's expansion.
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Global 3D Printed Drugs Market - By Technology
In Global 3D Printed Drugs Market by technology, the zip dose market category had the highest market share in 2021. This medication technology is simple to utilize and helpful for dysphagia patients. The market is expanding as a result of the rising demand from elderly and young patients for medications that dissolve fast in the mouth. On the other hand, it is anticipated that inkjet printer technology would advance at the highest rate during the projected period. Patients use it frequently because it consistently produces 3D medications and has technological advantages over competing methods. Inkjet printing is a technique for depositing three-dimensional structures in solid dosage forms. Using different combinations of active pharmaceutical ingredients (APIs) and excipients (inks), rising epilepsy rates, ongoing 3D printing technological developments, and growing consumer awareness of this technology in developing countries are the main factors driving the market expansion.
Global 3D Printed Drugs Market – Regional Insights
North America dominates Global 3D Printed Drugs Market by regions. It leadership position can be ascribed to the rising prevalence of chronic diseases, the superior domestic healthcare infrastructure, significant R&D spending, and the region's expanding adoption of technology advancements. As a result of major technology advancements in 3D printed medicine techniques made by China and Japan, the Asia-Pacific region is forecast to record its growth at the highest rate. Furthermore, the expansion of clinical development frameworks, R&D, and healthcare infrastructure in developing countries, such as India, has set the Asia-Pacific market up for lucrative growth prospects over the course of the projected period.
Impact of COVID-19 on Global 3d Printed Drugs Market
The use of 3D printing has increased as a result of the COVID-19 outbreak. To help with the creation of medicines and other necessary products, the operational actors in the advanced manufacturing industry have introduced a number of 3D printers. Additionally, the COVID-19 pandemic's drug scarcity has drawn pharmaceutical companies' attention to the idea of using 3D printing technology to supply medications quickly.
Global 3D Printed Drugs Market – Competitive Landscape
To increase their market position, major companies, including Aprecia, Promote Biosciences, and Bioduro, in Global 3D Printed Drugs Market are employing several strategies, such as partnerships, mergers and acquisitions, geographic expansion, and strategic collaborations. For instance, CELLINK expanded its partnership with AstraZeneca in February 2020 to supply bioinks and bioprinters for the latter company's research advancements. AstraZeneca is utilizing these technologies to investigate novel disease targets.
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