3D printed drugs have potential to revolutionize the personalized medicine sector. As the world moves toward the utilization of personalized medicines, market players and researchers across the world took strides toward utilizing 3D printing techniques.
3D printed drugs have potential to revolutionize the personalized medicine sector. As the world moves toward the utilization of personalized medicines, market players and researchers across the world took strides toward utilizing 3D printing techniques. Partnerships and collaborations are major strategies adopted by them to develop techniques and speed up creation of 3D printed drugs. They are striving to develop platforms and techniques that would accelerate development and deliver these personalized drugs on-site. Within a matter of seconds, it has become possible to develop drug-infused 3D printed tablets. The demand for 3D printed drugs will increase with the arrival of era of personalized medicines. According to the report published by Allied Market Research, the global 3D printed drugs market is estimated to reach $522 million by 2030. Following are some of the activities taking place across the world.
Partnership is one of the major strategies adopted by market players to accelerate the development of 3D printed drugs through combination of expertise and resources. CurifyLabs and Natural Machines partnered for development of 3D printed drugs platform that would enable them to create personalized medicines. Both companies plan to on-site delivery of personalized and customized drugs for human and veterinary patients. They aim to open the platform by the end of 2022.
The jointly developed 3D printing platform for drugs will be utilized for automating and optimizing the compounding process in hospitals and pharmacies. Charlotta Topelius, the CEO at CurifyLabs, highlighted that a medicine-as-a-service platform will be developed and an affordable 3D printing platform for drugs will be made available for the market. Through the partnership, both companies aim to revolutionize the personalized medicine industry by providing on-demand and localized drug manufacturing platform. Such platforms will be a step ahead in the personalized medicine sector.
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Along with market players, researchers have been taking necessary steps to develop drugs with the help of volumetric 3D printing technology. Through the collaboration between researchers at the University of Santiago de Compostela (USC), the University College London (UCL), and the MERLN Institute for Technology-Inspired Regenerative Medicine, it has become possible to create paracetamol-loaded tablets in only 17 seconds. The 3D printing specialist FabRx also joined hands with researchers to make this a reality. The drug development time is considerably less than the traditional method. Additive manufacturing techniques have been utilized for rapid and on-demand production of medicines. Such techniques do not only enable rapid production but also help in delivering personalized medicines in hard-to-reach areas.
Key Findings of 3D Printed Drugs Market:
- In North America, the U.S. is anticipated to dominate the market in 2020, whereas rest of North America is projected to grow at the highest CAGR during the forecast period.
- Germany was the major shareholder in the European 3D printed drugs market in 2016.
- Asia-Pacific is expected to register the highest growth rate in future.
- Australia is expected to grow at the highest CAGR in the Asia-Pacific 3D printed drugs market