Press release
Lyophilized Injectable Market to Expand at a CAGR of ~5% from 2021 to 2031
Lyophilized Injectable Market: IntroductionAccording to the report, the global lyophilized injectable market was valued over US$ 2.8 Bn in 2020 and is projected to expand at a CAGR of ~5% from 2021 to 2031. Lyophilization is a freeze-drying process used for the removal of water from the final product. In lyophilization, the output product is frozen under high vacuum. Lyophilization is used in the biotechnological and pharmaceutical manufacturing industries for the production of good quality products with expanded lifespan.
Presently, lyophilized injection dosage form is extensively used to improve bioavailability, stability, solubility, and patient compliance. Lyophilized injection is considered an alternative to oral solid dosage forms for better patient compliance, especially in bedridden patients and for attaining maximum bioavailability and improved stability.
Report Overview:
https://www.transparencymarketresearch.com/lyophilized-injectable-market.html
Expansion of Pipeline of Lyophilized Injectable Drugs to Drive Global Market
The continuous research & development to develop innovative drugs for the treatment of chronic diseases has propelled the development of lyophilized injectable drugs in the pharmaceutical industry. Product innovation and acquisition provide key players with the opportunities to penetrate a new therapeutic area/market. About 2,400 injectable products are presently in the development pipeline. This is expected to augment the global lyophilized injectable market.
Development of Alternative Methods to Hamper Market Growth
Lyophilization of injectable drugs is an expensive process. Hence, manufacturers strive to develop alternative drying methods to increase the shelf life of products, which can prove economical.
However, such alternative processes need improvement in terms of retaining stability and biological or chemical activity of the substance. Roche has developed a precipitation method as an alternative to lyophilization for the production of peptides, which enabled the company to reduce production costs, and deliver an effective, quality, and affordable product to customers. The advent of alternative methods during the forecast period is likely to hamper the growth of the global lyophilized injectable market.
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Single-use Vials Dominated Global Market
The report offers detailed segmentation of the global lyophilized injectable market based on type of packaging, type of delivery, indication, and end user. In terms of type of packaging, the single-use vials segment dominated the global market in 2020. The increase in self-administration of lyophilized injectable drugs to treat various chronic conditions such as diabetes, rheumatoid arthritis, and migraine is projected to drive the single-use vials segment during the forecast period. The specialty packaging segment is expected to grow at a rapid pace from 2021 to 2031, as the segment offers packaging solutions such as pens, needle-free injectors, and two-part syringes that allow reconstitution in the device prior to injection.
Hospitals to be Major End User
In terms of end user, the lyophilized injectable market has been divided into hospitals, ambulatory surgical centers, specialty clinics, and others The hospitals segment is expected to expand at a high CAGR during the forecast period, due to increase in the number of hospitals and high patient preference to visit hospitals for treatment.
North America to Dominate Global Market
The global lyophilized injectable market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global lyophilized injectable market in 2020, followed by Europe. North America accounted for a major share of the global lyophilized injectable market in 2020, due to extensive research & development activities, rapid acceptance of innovative technologies, and significant investments toward the development of healthcare infrastructure. Additionally, presence of a large number of manufacturing facilities in North America makes it the largest market for lyophilized injectable drugs.
Competition Landscape
The report also presents profiles of leading players in the global lyophilized injectable market. These include B. Braun Melsungen AG, Baxter International, Inc., BD, Schott AG, Aristopharma Ltd., Vetter Pharma, and Jubilant HollisterStier LLC.
• Lyophilized Injectable Market, by End User
o Hospitals
o Ambulatory Surgical Centers
o Specialty Clinics
o Others
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