Acumen Research and Consulting recently published report titled “Lyophilized Injectable Drugs Market and Region Forecast, 2022 – 2030”
BERLIN, Nov. 30, 2022 (GLOBE NEWSWIRE) — The Global Lyophilized Injectable Drugs Market Size accounted for USD 2.9 Billion in 2021 and is projected to occupy a market size of USD 5.1 Billion by 2030 growing at a CAGR of 6.5% from 2022 to 2030.
Lyophilization is a freeze drying method used to remove water from a material in order to increase its stability and shelf life. Lyophilization is a process that produces products that are frozen under high vacuum and are primarily used in the pharmaceutical industry to produce products of excellent quality at competitive prices. The global lyophilized injectable drugs market is expected to grow due to increased health awareness and widespread use of these drugs as a quick drying method.
Lyophilized Injectable Drugs Market Statistics
- Global lyophilized injectable drugs market value was USD 2.9 Billion in 2021 and expected to grow at CAGR of 6.5% from 2022 to 2030
- North America lyophilized injectable drugs market share will gather around USD 1.36 billion market share in coming years
- Asia-Pacific lyophilized injectable drugs market growth registered considerable CAGR of 7% during the forecast timeframe from 2022 to 2030
- Among packaging type, single-use vials sub-segment collected USD 1.74 billion in revenue in 2021
- Based on delivery, prefilled diluent syringes collected USD 1.54 billion revenue in the base year
- Increasing number of contract manufacturing services is a key lyophilized injectable drugs market trend that fuels the industry growth
Lyophilized Injectable Drugs Market Growth Factors
- Growing consciousness for healthy life
- Rise in respiratory disorders
- Increasing prevalence of metabolic and cardiac disorders
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Lyophilized Injectable Drugs Market Report Coverage:
|Market||Lyophilized Injectable Drugs Market|
|Lyophilized Injectable Drugs Market Size 2021||USD 2.9 Billion|
|Lyophilized Injectable Drugs Market Forecast 2030||USD 5.1 Billion|
|Lyophilized Injectable Drugs Market CAGR During 2022 – 2030||6.5||%|
|Lyophilized Injectable Drugs Market Analysis Period||2018 – 2030|
|Lyophilized Injectable Drugs Market Base Year||2021|
|Lyophilized Injectable Drugs Market Forecast Data||2022 – 2030|
|Segments Covered||By Packaging Type, By Type of Delivery, By Indication, By End-User, And By Geography|
|Lyophilized Injectable Drugs Market Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Schott AG, CIRON Drugs & Pharmaceuticals Pvt. Ltd, Mylan N.V., Baxter, Vetter Pharma, Dickinson and Company, Novartis AG, SHL Group, B. Braun Melsungen AG, and Jubilant HollisterStier.|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
Lyophilized Injectable Drugs Market Dynamics
The increase in chronic illnesses, the rise in the number of elderly people with heart conditions, and technological advancements in drying are what are driving the global market for lyophilized injectable drugs. Additionally, the lyophilization process enables the secure delivery of materials to the final users. The market for lyophilized injectable drugs may experience growth restraints due to the increase in non-injectable drug options. In contrast to conventional drying techniques, lyophilized injectable drugs are simple to transfer because they strengthen the material’s stability and provide high-quality products. One of the market drivers for lyophilized injectable drugs over the upcoming years will be the switch from traditional drying methods to cutting-edge freeze-drying technologies.
In contrast to dried products, lyophilized injectable drugs are safer and more efficient in the administration of materials. As a result, the market for lyophilized injectable drugs is anticipated to expand soon. Lyophilized injectable drugs are of higher quality and have a longer shelf life, which has given manufacturers more reason to incorporate the lyophilization process into their manufacturing processes. Lyophilized injectable drugs are offered by contract manufacturing and research services, which help provide high-quality goods to customers. Therefore, it is anticipated that the substantial availability of contract research manufacturing services will support the expansion of the global market for lyophilized injectable drugs.
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Lyophilized Injectable Drugs Market Segmentation
The packaging type, type of delivery, indication, end-user, and region are the five main segments that make up the global market for lyophilized injectable drugs. The market for lyophilized injectable drugs is divided into point-of-care reconstitution, specialty packaging, single-use vials, and others based on packaging type. The market for lyophilized injectable drugs is divided into single-step devices, multi-step devices, prefilled diluent syringes, and specialized reconstitution devices based on the type of delivery. The global market for lyophilized injectable drugs is divided into indications for autoimmune diseases, infectious diseases, metabolic conditions, and other conditions. The global market for lyophilized injectable drugs is divided into ambulatory surgical centers, specialty clinics, hospitals, and others based on the end-user.
Lyophilized Injectable Drugs Market Share
According to our lyophilized injectable drugs industry analysis, the single-use vials sub-segment obtained the most revenue in 2021. However, in the forthcoming year’s specialty packaging sub-segment is anticipated to witness significant growth rate in the coming years. Prefilled diluent syringes held the largest market share in 2021, according to the analysis of the lyophilized injectable drugs market, and it is anticipated that this trend will continue throughout the forecast period. The market forecast for lyophilized injectable drugs predicts that between 2022 and 2030, metabolic diseases will account for a sizable market share. Hospitals sub-segment gathered a sizable amount of share in 2021 based on end-user segment.
Lyophilized Injectable Drugs Market Regional Growth
The market for lyophilized injectable drugs is divided into five regions based on geography: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
As it did in 2021, North America is anticipated to dominate the market for lyophilized injectable drugs worldwide. The market is anticipated to lose market share to the Asia Pacific region’s developing economies. Opportunities in the region are attributed to the widespread use of lyophilized injectable drugs for various applications in end use industries. One of the key factors anticipated to propel the growth of the market for lyophilized injectable drugs in the near future is the specialty packaging segment, which is expanding quickly as a result of the introduction of advanced packaging solutions.
Manufacturers in the healthcare sector should see opportunities for growth as a result of the expansion of better healthcare infrastructure in developing nations like Singapore, India, and Malaysia. In the upcoming years, it is anticipated that this factor will increase demand in the local market.
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Lyophilized Injectable Drugs Market Players
Schott AG, CIRON Drugs & Pharmaceuticals Pvt. Ltd, Mylan N.V., Baxter, Vetter Pharma, Dickinson and Company, SHL Group, B. Braun Melsungen AG, Jubilant HollisterStier, and other leading companies are among the market’s leading participants. In order to gain market share and increase sales of lyophilized injectable drugs, the major vendors in this market are concentrating on product launches and partnership strategies. Additionally, the increased accessibility of contract manufacturing and research is anticipated to present profitable opportunities for the major global market players.
Questions Answered By This Report
- What was the market size of Lyophilized Injectable Drugs Market in 2021?
- What will be the CAGR of Lyophilized Injectable Drugs Market during the forecast period from 2022 to 2030?
- Who are the major players in Global Lyophilized Injectable Drugs Market?
- Which region held the largest share in Lyophilized Injectable Drugs Market in 2021?
- What are the key market drivers of Lyophilized Injectable Drugs Market?
- Who is the largest end user Lyophilized Injectable Drugs Market?
- What will be the Lyophilized Injectable Drugs Market value in 2030?
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