Press release
Lyophilization Services for Biopharmaceuticals Market to 2027: Business Growth Opportunities and Experience a Tremendous Growth | Axcellerate Pharma, Emergent BioSolutions, Biofortuna Ltd, Synerlab Group, Lyophilization Technology
The global lyophilization service for biopharmaceutical market is expected to reach US$ 1,456.74 million by 2027 from US$ 702.06 million in 2019; it is estimated to grow at a CAGR of 9.7% from 2020 to 2027.
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Top Major industry key Players across the globe include ATTWILL Medical Solutions; Axcellerate Pharma LLC.; AB BioTechnologies, Inc.; Berkshire Sterile Manufacturing, Inc.; Emergent BioSolutions; LSNE Contract Manufacturing; Albany Molecular Research (AMRI); Lyophilization Technology, Inc.; Jubilant HollisterStier LLC; Biofortuna Ltd; and Synerlab Group are some of the prominent players operating in the lyophilization services for biopharmaceuticals market.
The market players are focused on organic strategies to sustain their position in the market. For instance, in June 2020, Berkshire Sterile Manufacturing (BSM) has secured US$ 16.5 million financing from Berkshire Bank and Lee Bank to expand its operations in Lee. This financing will be used to add manufacturing capabilities including an additional state-of-the-art robotic line for producing sterile drug products such as vials, syringes, and cartridges.
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Segments of lyophilization services for biopharmaceuticals market as follows:
By Service Type
-Product and Cycle Development
-Clinical Manufacturing
-Commercial Manufacturing
-Freeze Drying
By End User
-Pharmaceutical and Biotechnology Companies
-Research Institutes
By Geography
-North America
-Europe
-Asia Pacific (APAC)
-Middle East and Africa (MEA)
-South and Central America (SCAM)
Based on service type, the lyophilization service for biopharmaceuticals market is segmented into product and cycle development, clinical manufacturing, commercial manufacturing, and freeze drying analytical services. In terms of service type, the commercial manufacturing segment held the highest share of the lyophilization services for biopharmaceuticals market in 2019; however, the product and cycle development segment is anticipated to witness a significant growth rate during the forecast period.
The growth of the market is attributed to the advantages offered by the lyophilization process such as increased shelf life for both small and large molecule drugs, stabilizing formulation by commercially validated method, and reduces cost for complex logistics such as rigorous cold-chain custody validation regimes and constant documentable refrigeration at the dispensary level.
The growth of the market is attributed to the factors such as rising demand for lyophilized products, and rapid growth in contract manufacturing and lyophilization services across the world. On the other hand, the demerits associated with lyophilization process such as leakage during filling, are the major factors hindering the market growth.
Strategic Insights:
Product launches and expansion strategies are commonly adopted by companies to expand their footprint worldwide, meet the growing demand, and increase its product portfolio.
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