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Micro And Nano PLC Market Competitor Analysis And Overview 2024-2033
Micro And Nano PLC Market
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According to The Business Research Company's, The lyophilization services for biopharmaceuticals market size has grown rapidly in recent years. It will grow from $1.66 billion in 2023 to $1.83 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The growth in the historic period can be attributed to biopharmaceutical expansion, drug patent expirations, rise in personalized medicine, increase in clinical trials, globalization of biopharmaceutical market..
The lyophilization services for biopharmaceuticals market size is expected to see rapid growth in the next few years. It will grow to $2.74 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to emergence of mrna and nucleic acid therapeutics, outsourcing trends in pharma industry, focus on continuous manufacturing, advancements in combination therapies, growth of biosimilars production.. Major trends in the forecast period include quality-by-design (qbd) implementation, automation and robotics integration, focus on sustainability, customization for complex molecules, shift towards continuous lyophilization..
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Market Drivers and Trends:
The growing demand for biologics is expected to propel the growth of the lyophilization services for the biopharmaceuticals market going forward. Biologics are therapeutic products derived from living organisms or containing components of living organisms. Lyophilization services are commonly used for biologics in the pharmaceutical and biopharmaceutical industries. This process helps preserve the stability of biologics by preventing them from denaturing or degrading. It is also beneficial for stability enhancement and improving product integrity. For instance, in November 2022, according to the reports shared by the Canadian Institute for Health Information., a Canada-based government health company, biologics accounted for 2.3% of claims and $4.4 billion (29.4%) of the total spending on public medication programs in 2021. Furthermore, according to the US Food and Drug Administration, a US-based federal agency of the Department of Health and Human Services, by the end of 2022, 40 biosimilars had received approval, and 27 of them were available in the United States, where they were pitted against 10 brand-name biologics. Therefore, the growing demand for biologics drives the lyophilization services for the biopharmaceuticals market.
Technological products are a key trend gaining popularity in the lyophilization services for biopharmaceuticals market. Major companies operating in the lyophilization services for biopharmaceuticals market are developing innovative specialized products to sustain their position in the market. For instance, in June 2021, SP Industries Inc., a US-based manufacturer of pharmaceutical products, launched SP Hull LyoStar 4.0 R&D freeze dryer. This innovative pilot-scale freeze dryer is designed to accelerate the market for biopharmaceutical products. The LyoStar 4.0 is based on a full-scale production freeze dryer to support rapid scale-up and offers superior shelf mapping, rapid shelf freezing, unmatched process accuracy, and reliability. It also includes an innovative suite of process analytical technology (PAT) tools supplementing SP's line-of-sight technologies. Additionally, providing real-time data on the lyophilization process and including freeze-drying technology protects valuable products by ensuring precise process control and robust reliability. Moreover, it can help reduce the time and cost of developing new biopharmaceutical products and improve their quality and consistency.
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Major Key Players of the Market:
Strides Pharma Science Limited, Baxter International Inc., Catalent Pharma Solutions Inc, W. L. Gore & Associates Inc, Emergent BioSolutions Inc., Vetter Pharma International GmbH, Curia Global Inc., Corden Pharma GmbH, CinnaGen Co., Lyophilization Services of New England Inc., Jubilant HollisterStier LLC, Dalton Pharma Services, IDT Biologika Gmb*H, Ardena Group, Axcellerate Pharma LLC, Symbiosis Pharmaceutical Services, Lyka Labs Limited, Biofortuna Limited, Rentschler Fill Solutions GmbH, Lyophilization Technology Inc., Pyramid Laboratories Inc, ATTWILL Medical Solutions, AB BioTechnologies Inc., Biopharma Process Systems, Labyrinth Biopharma LLC, Gilyos GmbH, ProJect Pharmaceutics GmbH, BioZed Engineering Pvt. Ltd., Berkshire Sterile Manufacturing, Millrock Technology Inc.
Lyophilization Services For Biopharmaceuticals Market 2024 Key Insights:
• The lyophilization services for biopharmaceuticals market size is expected to see rapid growth in the next few years. It will grow to $2.74 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%.
• The Growing Demand For Biologics Drives The Lyophilization Services For The Biopharmaceuticals Market.
• Revolutionizing Lyophilization Services For Biopharmaceuticals With Innovative Technological Products
• North America was the largest region in the lyophilization services for biopharmaceuticals market in 2023
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