The global lyophilized injectable drugs market is projected to worth $4,350.3 Million by 2026 and the market is projected to showcase 6.9% CAGR during the forecast period.
The lyophilized injectable drugs market is expected to grow at a rapid pace owing to the increase in development of pipeline of lyophilized injectable drugs.
Growing health awareness and rise in demand for lyophilized injectable drugs in various medical conditions such as metabolic and cardiac diseases are the major driving factors that is boosting the growth of the lyophilized injectable drugs market. Also, governments stringent regulation and low emission policies across the globe encourage the usage of lyophilized injectable drugs that integrates low rolling resistant tires and aerodynamics that helps in fuel savings as well as reduce carbon emissions which are the key factors driving the growth of the global lyophilized injectable drugs market.
The lyophilized injectable drugs are costly in terms of manufacturing process, therefore, the key manufacturers in the global market are investing on R&D activities to offer a substitute method that will help to extend the product’s shelf life. Though, this substitute method requires development related to absorbent stability and biological activity of the material. For instance, for instance, in September 2015, Purdue University has introduced lyophilization association named LyoHUB with an objective to develop advanced freeze-drying technology to make it safer and more affordable for pharmaceuticals and biotech products.
The global lyophilized injectable drugs market is segmented into fivemain segment that include packaging type, type of delivery, indication, end-user and region. On the basis of packaging type,the global lyophilized injectable drugs market is segmented into specialty packaging, point-of-care reconstitution, single-use vials, and others. On the basis of type of delivery,the global lyophilized injectable drugs market is segmented intosingle-step devices, multi-step devices, prefilled diluent syringes, and proprietary reconstitution devices. On the basis of indication, the global lyophilized injectable drugs market is segmented into infectious diseases, autoimmune diseases, metabolic conditions, and others. On the basis of the end-user,the global lyophilized injectable drugs market is segmented into ambulatory surgical centers, hospitals, specialty clinics, and others. On the basis of region, the global lyophilized injectable drugs market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Based on packaging type, the global lyophilized injectable drugs market ismajorly segmented into three sub-segments, which arespecialty packaging, point-of-care reconstitution, single-use vials. The specialty packaging segment is predicted to lead the global lyophilized injectable drugs market owing to the wide spread of lyophilized injectable drugs in several chronic diseases.
The North America region is predicted to dominate the lyophilized injectable drugs market owing to technological advancement and huge investment by manufacturers in research and development in this region. Also, due to the huge presence of contract manufacturing and services inexpected to drive the lyophilized injectable drugs market in North America region.
Asia Pacific is projected to grow at high CAGR and expected to create growth opportunities for manufacturers as there is increase in healthcare spending in developing countries. Countries such as Singapore, Malaysia and Thailand are expected to create significant opportunities in the healthcare industry. Moreover, the improved medical infrastructure facilities is likely to boost the demand of the lyophilized injectable drugs market.
Some of the key vendors operating in the lyophilized injectable drugs market are Schott AG, CIRON Drugs & Pharmaceuticals Pvt. Ltd, Mylan N.V., Baxter, Vetter Pharma, Dickinson and Company, SHL Group, B. Braun Melsungen AG, Jubilant HollisterStier, and others.
Key vendors are highly focused on investment in research and development activities to manufacture innovative lyophilized injectable drugs using advanced technologies. Furthermore, the manufacturers operating in the global lyophilized injectable drugs market are strategically focused product innovation and partnership, merger and acquisition of other players in healthcare industry in order to increase their product portfolio as well as expand their customer base globally.
Market By Packaging Type
Market By Type of Delivery
Market By Indication
Market By End-user
Market By Geography