The rising adoption of advanced healthcare technologies by consumers on the back of swelled disposable income and growing rate of 3D printed drugs is driving the growth of the medical industry with significant pace. The ease of ingestion along with the chewable formulations similar to gummies with a diverse range of shapes, sizes, colors, textures and flavors make these drugs more attractive to the patients of all age groups. These factors are believed to propel the expansion of 3D printed drugs market in upcoming years.
The global 3D printed drugs market accounted for USD 489.9 Million in 2017 and is predicted to reach lucrative market value of USD 1,559.8 Million by the end of 2024, expanding at a CAGR of 18.2% over the period 2018-2024.
Geographically, the 3D printed drugs market is divided into North America, Latin America, Europe, Asia-Pacific and Middle East & Africa, out of which the Asia-Pacific market of 3D printed drugs accounted for the largest market size of USD 166.3 Million in 2017 and is believed to hold its dominant stance over the forecast period. After Asia Pacific, North America 3D printed drugs market is believed to hold the second largest market share in 2024 owing to the presence of well-established healthcare industry along with expanded funding from the government organizations in the region. Further, Europe market of 3D printed drugs is believed to hold more than 20% of the market share in 2024.
The global 3D printed drugs market is segmented by applications into orthopedic, neurology, hearing & audibility aid, medical implants, dental and others, out of which, the neurology and orthopedic segment, collectively held around 60% of the market share during 2016. The growing number of neurological related diseases is believed to supplement the expansion of the neurology segment with dominant share in 2024. Further, the hearing and audibility aid segment is estimated to expand with highest CAGR during the forecast year.
The Report titled “Global 3D Printed Drugs Market Outlook: Industry Demand Analysis & Opportunity Evaluation 2017-2024” also includes some prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
This report also studies existing competitive scenario of some of the key players of the 3D printed drugs market which includes profiling of Aprecia Pharmaceuticals LLC., FabRx Ltd. and GlaxoSmithKline (GSK).
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Global 3D Printed Drugs Market Outlook 2024”, analyses the overall 3D printed drugs industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global 3D printed drugs market in near future.