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SAN FRANCISCO , July 13, 2022 /PRNewswire/ -- The global 3D printed drugs market is expected to reach USD 269.74 million by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 15.32% from 2022 to 2030. The rising prevalence of chronic diseases, combined with the rising population of patients with dysphagia around the globe is pushing the demand for immediate soluble medications, which is likely to drive the market. For instance, according to a study published in April 2022 , the prevalence of oropharyngeal dysphagia is high in conditions such as stroke and aging and is reported to be 26.19% in the elderly.
Key Industry Insights & Findings from the report:
Read 150-page market research report, "3D Printed Drugs Market Size, Share & Trends Analysis Report By Technology (Inkjet Printing, Zipdose Technology, Stereolithography), By Application (Orthopedic, Neurology), By End-use, Region, And Segment Forecasts, 2022 - 2030, published by Grand View Research.
3D Printed Drugs Market Growth & Trends
An increase in the aging population has led to the growing demand for the development of easy-to-swallow pills for the elderly. The 3D printed highly soluble and easy-to-swallow drugs can help the elderly who have difficulty swallowing. Moreover, according to the United Nations, the number of people aged 65 and more in 2050 is projected to be 1.5 billion. Thus, the growing elderly population across the world would propel the demand for easy-to-swallow drugs resulting in market growth.
Other factors such as quickly expanding demand for pharmaceuticals, technical improvements in healthcare, as well as the government's focus and expenditures in the 3D printing industry, are also contributing to the market's growth. For instance, in March 2022 , Evonik Venture Capital invested in Nevada -based Laxxon Medical for the manufacturing of 3D-printed tablets. The latter company has developed a 3D screen-printing technology for the production of structured tablets with the controlled release of API over time. Such investments are likely to supplement the market growth in the coming years.
The COVID-19 pandemic is anticipated to positively impact market growth. Several printers have been launched by the operating companies in the advanced manufacturing industry to help increase the manufacturing of medications and other necessary products. As a result, the usage of these technologies is projected to increase during the COVID-19 pandemic.
The growing demand for personalized medicine is expected to majorly drive market growth in the coming years. As 3D printing of pharmaceutical drugs can produce personalized medicine in small batches with carefully tailored shapes, dosages, and sizes, the market is anticipated to grow at an exponential rate in the near future. In addition, the use of 3D printing technology can significantly reduce manufacturing costs thus, further increasing investments in this space.
On the other hand, adverse effects from these drugs, the use of 3D printing to create illegal drugs, and a lack of government restrictions for 3D printed products are limiting the market's growth. For instance, in March 2018 , a police case was filed in Amsterdam , for the illegal handling of these drugs. However, increased awareness of the benefits of these medications, such as their immediate solubility, faster manufacturing time, reduced waste, and easy on-demand manufacturing is likely to create multiple prospects for market growth.
3D Printed Drugs Market Segmentation
Grand View Research has segmented the global 3D printed drugs market based on technology, application, end-user, and region:
Technology Scope Outlook (Revenue, USD Million, 2018 - 2030)
Application Scope Outlook (Revenue, USD Million, 2018 - 2030)
End-use Scope Outlook (Revenue, USD Million, 2018 - 2030)
Regional Scope Outlook (Revenue, USD Million, 2018 - 2030)
List of Key Players in the 3D Printed Drugs Market
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco , the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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