The global Lyophilized Injectable Market is expected to grow at a steady 5.8% over the next few years. In 2023, the lyophilized injectable market is expected to be worth $3043.55 million. Demand for lyophilized injectables is expected to reach a peak of US$ 5348.56 Mn by 2033.
Because of their stability at room temperature, lyophilized medications are becoming increasingly popular. They are also ready for use after a brief rehydration procedure. As a result, using this method streamlines and simplifies procedures while also lowering the likelihood of making numerous pipetting errors. Because of all of these advantages, the global lyophilized injectable market is expected to grow in the coming years.
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The rise in chronic diseases is a significant factor driving up demand for these medicines. There has been a significant decrease in the number of people suffering from heart disease, kidney disease, cancer, and diabetes over the last ten years. All of these diseases have been linked to a decrease in physical activity and an increase in processed foods. Concerns about young adults developing chronic diseases have grown as more of them consume alcohol and smoke tobacco. The packaging used to store injectable medications is one of the most important aspects of lyophilizing them. Even if it occurs only infrequently, lyo-breakage has a significant impact on operations and costs. This has piqued the interest of key players in the global lyophilized injectable market in the possibility of using different vial designs in their plans to reduce the risk of lyo-breakage. Businesses can now move vials into and out of the lyophilizer without using a lot of side-load force.
Lyophilization is a critical process that necessitates the use of a wide range of expensive tools. Manufacturers are focusing on lowering the peak vertical load when the stopper is closed to prevent lyo-breakage.
Key Takeaways
- In 2022, the injection supplies drugs market held more than 29% of the business share, with the prefilled diluent syringes segment accounting for more than 29% of the business share.
- The market for online pharmacies is expected to generate more than US$ 34 billion by 2022. The COVID-19 pandemic is a major factor driving a steady shift away from physical pharmacies and toward online e-commerce websites. This shift is expected to contribute to the growth of online platforms.
- In 2022, the lyophilized injectable market in North America will account for more than 47 percent of total revenue.
- In 2022, the segment of antiarrhythmic drugs accounted for more than US$19 Bn in revenue. The growing incidence of cardiovascular diseases across the globe is one of the primary contributors to the skyrocketing demand for these medications.
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Competitive Landscape
Companies that play a crucial role in meeting the global demand for lyophilized injectables are becoming increasingly interested in making drug delivery systems that can be used with any drug, can be updated, and changed. To reach their objective, they are investing heavily in R&D-related activities.
Key players in the injection supplies industry rely on a strategy of continuous product development and improvement to meet the needs of customers all over the world and keep their place in the highly competitive global lyophilized injectable market. For instance, in April 2022, Recipharm acquired the Contract Development and Manufacturing Organisation (CDMO) services of both Arranta Bio, a leader in advanced therapy, and Vibalogics, a pioneer in virotherapy. Recipharm’s new facilities in Boxborough, Massachusetts gives the company a solid footing in the United States and pave the way for future growth into new areas of biologics therapy.
Key Segments in the Lyophilized Injectable Market
Packaging:
- Single-Use Vials
- Point-of-Care Reconstitution
- Specialty Packaging
Type of Delivery:
- Prefilled Diluent Syringes
- Single-Step Devices
- Proprietary Reconstitution Devices
- Multi-Step Devices
Indication:
- Metabolic and Oncology Conditions
- Infectious Diseases
- Autoimmune Diseases
- Others
End User:
- Hospitals
- Ambulatory Surgical Centers
- Specialty Clinics
- Others
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