3D Printed Drugs Market: Current Analysis and Forecast (2020-2027)

Report Description

The global 3D printed drugs market is witnessing an uptick on account of the government’s investment in the 3D printing technology, raising venture capital for 3D printing startups, and the investment by the pharma companies in 3D printing technology. In a study, it was found that around 63% of the pharma companies are thinking of investing in 3D printing technology and the number of professionals using 3D printing technology was 3 times higher than that of 3 years ago which was in 2017. The Venture capital funding for 3D printing is also one of the most prominent reasons for market growth. Furthermore, the state of Lower Austria and the Austrian federal government together announced two funding packages in 2020 which will support investments in advanced digital technologies, including 3D printing.

Moreover, the surging prevalence of chronic disease and the rising number of patients globally generating the demand for soluble drugs, due to which the demand for personalized 3D printed medicine is emerging. In a study, it was found that Dysphagia affects approximately 9 million adults per year in the United States and is especially prevalent among the elderly. Characteristically, 50-75% of stroke patients and 60-70% of patients who undergo radiation therapy for head and neck cancer have dysphagia. The government across countries is investing more in healthcare and more emphasis on 3D printing technology for quick production owing to the surging need globally. As per OCED, the government in the United States spend USD 8,032.6 USD per capita in 2015 that increased to USD 9,386.5 USD per capita in 2019 same way in the U.K the government spent 3,043.6 USD per capita in 2015 that increased to USD 3619.5 USD per capita in 2019.

Also, surging government’s emphasis on personalized medicine and the rising end-user’s awareness about the medicine as per individual’s need coupled with the benefits such as high dose in single tablet, swallowable, and different form of drugs is generating the demand for the 3D printed drugs so, the market is promulgating.

3D Printed Drug Formulation Technologies

The global 3D Printed Drugs market is highly fragmented. The availability of numerous global and local players across regions makes the industry highly competitive. The key players with a considerable market share in the industry are GlaxoSmithKline plc., Aprecia Pharmaceuticals, LLC., AstraZeneca, FabRx Ltd, Merck KGaA, Hewlett Packard Caribe, Cycle Pharmaceuticals, Tvasta, etc. Several M&A’s along with partnerships have been undertaken by these players to facilitate costumers with hi-tech and innovative products.

Insights Presented in the Report

“Amongst technology, inkjet printing segment holds the major share”

Based on product type, the market is fragmented into inkjet printing, fused deposition modeling, stereolithography, and others. The inkjet printing segment dominated the market with a share of 42.2% in 2019 and is expected to maintain its dominance during the forecast period on account of the benefits such as low cost, programmability, high resolution, high throughput, high speed, and biocompatibility of these printers and the launch of new products by the key players in the industry.

“Amongst applications, neurology is expected to dominate the market during the analyzed period”

Based on the applications market is segmented into Orthopedic, Neurology, Hearing & Audibility Aid, Medical Implants, Dental, and others. In 2019, the neurology segment grabbed the major market share and accounted for 35.1% of the market revenue share.  The surging prevalence of the neurological disorder is leading to the growing share of this segment. In a study, it was found that Neurological disorders are the number one cause of disability globally and around 1 billion people throughout the world are affected by some type of neurological disease. Moreover, the orthopedic segment is expected to grow with a CAGR of more than 15.9% during the forecast period of 2021-27.

“Amongst drug form, the tablet is expected to dominate the market during the analyzed period”

Based on the drug form, the market is segmented into the tablet, capsules, multidrug implants, nanoparticles, solutions, nanosuspension, encapsulated within a polymer, and others. In 2019, the tablet segment grabbed the major market share and accounted for 29.8% of the market revenue share.  The properties of tablets such as longer shelf life, variety of forms. Also, it accommodates a higher dose of an active ingredient than a capsule. Moreover, the capsule segment is expected to grow with a CAGR of more than 15.8% during the forecast period of 2021-27.

“North America represents one of the largest markets of the 3D Printed Drugs market”

For a better understanding of the market dynamics of the 3D Printed Drugs market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Italy, United Kingdom, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of APAC) and Rest of the World has been conducted. North America dominated the market and generated revenue of US$ 306.8 million in 2019 owing to the escalating healthcare IT investment in the countries such as the U.S and Canada. Moreover, the presence of well-established players in additive manufacturing makes the region dominant across the globe.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry

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Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the global 3D printed drugs to the market were the three major steps undertaken to create and analyze the adoption of 3D printed drugs across various healthcare verticals in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the 3D printed drugs market. Post assumption and validation of market numbers through primary interviews, we employed a top-down approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the 3D printed drugs through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the 3D printed drugs market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as type and subtypes. Further country-level analyses were conducted to evaluate the overall adoption of 3D Printed Drugs in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of 3D printed drugs. Further, we conducted factor analysis using dependent and independent variables such as the growth of the healthcare industry, surging prevalence of diseases, Investments, etc. A thorough analysis was conducted for demand and supply-side scenario considering top partnerships, merger and acquisition, business expansion, and product launches in the 3D printed drugs industry across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the 3D printed drugs market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e. top-down approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (US$) and the adoption rate of 3D printed drugs across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the 3D printed drugs market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the 3D printed drugs market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type and their type of the 3D printed drugs market.

The main objective of the 3D Printed Drugs Market Study

The current & future market trends of 3D printed drugs were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of 3D printed drugs in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of type and their subtypes
• Define and analysis of the regulatory framework for the 3D printed drugs industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the 3D printed drugs market for the major region
• Major regions studied in the report include North America (the U.S and Canada), Europe (Germany, France, Italy, Spain, and United Kingdom), Asia-Pacific (China, Japan, India, Australia, and South Korea), and the Rest of the World
• Company profiles of the 3D printed drugs market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry