Visiongain has published a new report entitled Lyophilization in Pharmaceuticals Market 2023-2033. It includes profiles of Lyophilization in Pharmaceuticals and Forecasts, Market Segment by Drug Type (Anti-infective, Anti-neoplastic, Anticoagulant, Hormones, Antiarrhythmic, Others), Market Segment by Type of Delivery (Prefilled Diluent Syringes, Multi-step Devices), Market Segment by Indication (Autoimmune Diseases, Respiratory Diseases, Gastrointestinal Disorders, Oncology, Cardiovascular Diseases, Infectious Diseases, Metabolic Disorders, Others), Market Segment by Packaging (Vials, Cartridges, Prefilled Devices) plus COVID-19 Impact Analysis and Recovery Pattern Analysis (“V”-shaped, “W”-shaped, “U”-shaped, “L”-shaped), Profiles of Leading Companies, Region and Country.
The lyophilization in pharmaceuticals market is valued at US$252.8 billion in 2022 and is projected to grow at a CAGR of 13.0% during the forecast period 2023-2033.
Surging Demand for Lyophilized Products in Pharmaceutical and Biotech Industry
The demand for lyophilized drug formulations have soared in pharmaceutical and biotech industry owing to the benefits associated with lyophilization process. Lyophilization offers the product a longer shelf life and higher stability that is considered vital during the process of drug development. Industry players are focusing on the research and development of innovative drugs to leverage the benefits of lyophilization. With growing adoption of lyophilization process in food processing industry in addition to its current applications in pharmaceutical and biotech industry will propel the overall market growth.
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How has COVID-19 had a Significant Positive Impact on the Lyophilization in Pharmaceuticals Market?
During the COVID-19 pandemic, the healthcare sector shifted its focus majorly on the treatment of COVID-19 patients with the development of vaccines and other drugs thus, had a significant impact on industry growth in the initial phase of the pandemic. Also, pharmaceutical and biotechnology companies rapidly responded to the increasing demand for diagnosis, treatment, and prevention of COVID-19. Therefore, these firms emphasize the development of lyophilized injectable drugs with high performance and optimize their development process. The significant rise in therapeutics and diagnostic tests demand led to an increased in the growth potential of lyophilization in pharmaceuticals industry. Additionally, with the demand for COVID-19 vaccine development and supply, speed and efficacy are crucial elements in the development process. Additionally, the lyophilization process helps to stabilize drugs for global distribution in order to cater demand at a high rate. Furthermore, lyophilized injectable drugs experienced demand for remdesivir a lyophilized antiviral medicine used to treat patients during the initial phase of the COVID-19 outbreak. Growing demand for drugs due to the COVID-19 pandemic resulted in the expansion of the lyophilized injectable drugs market.
How will this Report Benefit you?
Visiongain’s 260-page report provides 114 tables and 183 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the Lyophilization in Pharmaceuticals Market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Lyophilization in Pharmaceuticals. Get financial analysis of the overall market and different segments including type, process, upstream, downstream, and company size and capture higher market share. We believe that there are strong opportunities in this fast-growing Lyophilization in Pharmaceuticals Market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Increasing Number of Approvals for Lyophilized Drugs
A majority of market players in the industry has a strong pipeline of drugs ready to hit the market. This resulted in increased number of product approvals over recent years. Several clinical studies are being undertaken by various organizations to secure product approval for extended application of lyophilized injectable drugs to treat cancer and other diseased patients. With such continuous product approvals and increasing healthcare expenditure, the industry will experience robust growth in the future.
Various companies are launching products with FDA approvals which help companies to enhance their product offering. The U.S. FDA has recently granted an emergency use authorization for lyophilized powder of remdesivir for treatment of patients with mild-to-moderate COVID-19 infection. Remdesivir is a lyophilized powder available in a single dose vial and administrated intravenously. Therefore, an increasing number of infectious and chronic diseases is projected to impel the number of regulatory approvals for emergency use.
Rising Prevalence of Chronic Diseases
Increasing prevalence of chronic diseases owing to adoption of unhealthy eating habits and sedentary lifestyle will drive the demand for advanced drugs and treatment options, hence driving lyophilized drugs market growth during the pandemic times. Increasing number of lyophilized mAbs and recombinant proteins are being preferred for the treatment of cancer and autoimmune disorders. These drugs are widely used as an alternative medication for the treatment of breast or stomach cancer. Lyophilized injectable drugs kill cancer cells by inhibiting human epidermal growth factor receptor protein in cancer patients. Chronic Diseases such as cancer, autoimmune diseases cardiovascular diseases are based on targeted drug delivery through specialized drug formulations which substantially increase demand of lyophilization in pharmaceuticals. Growing adoption of lyophilized injectable drugs as therapeutic in several applications have accelerated the market growth.
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Where are the Market Opportunities?
Increased Demand for Lyophilization of Products in Pharmaceutical and Biotech industry
Rising demand for lyophilized products in pharmaceutical and biotech industry has witnessed a notable surge during the recent years. Increasing focus on R&D of biopharmaceuticals such as protein-based drugs has opened up avenues for pharmaceutical companies to produce innovative products through lyophilization. Since the lyophilization process enhances the shelf life and stability of the product, it is considered as a vital benefit of drug manufacturing. On account of its inevitable benefits, the demand for lyophilization in the biopharmaceutical and biomedical industry is anticipated to propel the lyophilization in pharmaceuticals market growth.
Increased Focus on the Development of Novel Drugs
Strong focus on the research and development of novel drugs to offer effective treatments solutions to patients with chronic diseases will stimulate industry growth. Rising government support and the introduction of new research centres to expand the R&D activities by the industry players for the development of lyophilized injectable drugs will further accelerate the market growth. For instance, in May 2022, Pfizer launched its drug research and development centre in India. The company has planned to develop active pharmaceutical ingredients and finished dosage forms including lyophilized injectable and others. Such expansion by industry players will boost the global market growth.
The major players operating in the lyophilization in pharmaceuticals market are Aurobindo Pharma, Bristol-Myers Squibb Company, Cipla Inc., Fresenius Kabi AG, Gilead Sciences, Inc., Johnson & Johnson Services, Inc., Merck & Co., Inc., Novo Nordisk A/S, F. Hoffmann-La Roche Ltd, Sanofi, Takeda Pharmaceutical Company Limited, Vetter Pharma, and Zydus Group among others.
These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
- In August 2022, Bristol Myers Squibb acquired Turning Point Therapeutics. This acquisition enhanced the company’s operation capabilities as well as expansion of product portfolio.
- In September 2022, Fresenius received FDA approval for its Stimufend, a pegfilgrastim biosimilar, used in patients with non-myeloid malignancies. This approval will help the company to enhance its oncology product portfolio and to treat more cancer patients in the U.S. The company also plans to introduce an on-body injector and prefilled syringes early next year.
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To find more Visiongain research reports on the Pharma sector, click on the following links:
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