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Lyophilized Injectable Drugs Market - Exploration Trends, Analysis, Growth Prospects And Forecast 2033
Lyophilized Injectable Drugs Market
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According to The Business Research Company's, The lyophilized injectable drugs market size has grown steadily in recent years. It will grow from $3.82 billion in 2023 to $3.93 billion in 2024 at a compound annual growth rate (CAGR) of 3.0%. The growth in the historic period can be attributed to rise in chronic diseases, growing biopharmaceutical industry, expanding geriatric population, clinical advancements and trials, globalization of pharmaceutical manufacturing..
The lyophilized injectable drugs market size is expected to see steady growth in the next few years. It will grow to $4.48 billion in 2028 at a compound annual growth rate (CAGR) of 3.3%. The growth in the forecast period can be attributed to rise in personalized medicine, expansion of biologics pipeline, global health preparedness, demand for orphan drugs, increased focus on patient compliance.. Major trends in the forecast period include innovations in lyophilized combination therapies, expansion of lyophilized vaccines, integration of quality-by-design (qbd) principles, utilization of lyophilized drugs in emergency medicine, regulatory emphasis on lyophilization process validation..
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Market Drivers and Trends:
The rising incidence of cardiac disorders is expected to propel the growth of the lyophilized injectable drugs market going forward. Cardiac disorders refer to a wide range of conditions that affect the structure and function of the heart, including the valves, chambers, blood arteries, electrical system, and general pumping function. Lyophilized injectable drugs such as thrombolytic agents, antiarrhythmic medications, inotropic agents, and antihypertensive medications are used in the treatment of various cardiac disorders as they provide stability, convenience, and flexibility, rapid reconstitution, improved bioavailability, and reduced risk of contamination. Hence, the lyophilized injectable drugs market is growing because of increased cardiac disorders globally. For instance, in May 2023, according to the Centers for Disease Control and Prevention Highlights, a US-based intergovernmental organization, coronary heart disease was estimated to kill 375,476 people in 2021. Furthermore, in December 2022, according to data published by New York government, in the United States, heart disease claims the lives of about 697,000 people annually, or 1 in every 5 fatalities where around 805,000 Americans experience a heart attack each year among which 605,000 of these result in a first-time heart attack, while 200,000 are caused by previous heart attacks. Therefore, the rising incidence of cardiac disorders drives the growth of the lyophilized injectable drugs market during the forecast period.
Product innovations are the key trend gaining popularity in the lyophilized injectable drug market. Major companies operating in the lyophilized injectable drug market are innovating new drug delivery systems to increase their profitability in the market. For instance, in June 2022, Gufic Biosciences Ltd an India-based pharmaceuticals company launched Dual Chamber Bags (DCB). These bags are essential to the market for lyophilized injectable drugs because they are used to reconstitute lyophilized medications. Using DCBs has a number of benefits, including lowering the chance of bloodstream infections, guaranteeing patient safety, and avoiding prescription mistakes.
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Major Key Players of the Market:
Pfizer Inc., Hoffmann-La Roche Ltd, Merck & Co Inc., Sanofi SA, Novo Nordisk A/S, Becton Dickinson and Company, Baxter International Inc., Sandoz, Nipro Corporation, B. Braun SE, Aurobindo Pharmaceuticals, Schott AG, Zydus Lifesciences, Recipharm AB, Vetter Pharma-Fertigung GmbH & Co. KG, Fresenius Kabi USA LLC, Vetter Pharma-Fertigung GmbH & Co. KG, CordenPharma International, Aristopharma Limited., Accord Healthcare, Jubilant HollisterStier LLC, Ciron Drugs & Pharmaceuticals Pvt Ltd., MSN Laboratories, Qilu pharmaceutical Co Ltd., Genex Pharma
Lyophilized Injectable Drugs Market 2024 Key Insights:
• The lyophilized injectable drugs market size is expected to see steady growth in the next few years. It will grow to $4.48 billion in 2028 at a compound annual growth rate (CAGR) of 3.3%.
• Lyophilized Injectable Drugs Market On The Rise As Essential Treatment Option
• Innovative Systems For Enhanced Safety And Precision
• North America was the largest region in the lyophilized injectable drugs market in 2023
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