Future Market Insights (FMI) predicts a significant rise in the global lyophilized injectable market, reaching an estimated value of US$ 5,348.56 million by 2033. This surge represents a projected Compound Annual Growth Rate (CAGR) of 5.8% over the forecast period. The report attributes this growth to the increasing demand for innovative and convenient drug delivery solutions such as lyophilized injectables.
The lyophilized injectable market has already established a strong presence within the healthcare industry, with a value of US$ 3,043.55 million as of 2023. Lyophilized injectables, also known as freeze-dried injectables, offer several advantages over traditional liquid formulations. They are more stable during transportation and storage, have a longer shelf life, and can be easily reconstituted with a sterile solvent for administration.
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This growth can be attributed to several key factors, including:
- Enhanced Stability: Lyophilized injectables offer superior stability compared to traditional formulations, allowing for storage and transportation at room temperature. This eliminates the need for cold chain logistics, streamlining distribution and reducing associated costs.
- Simplified Administration: These medications require only a brief rehydration process before use, minimizing the risk of errors commonly associated with pipetting techniques. This user-friendly approach promotes improved patient safety and convenience.
FMI, with its comprehensive market research and consulting expertise, is strategically positioned to provide valuable insights and guidance to stakeholders within the lyophilized injectable space. As the market continues its upward trajectory, FMI remains committed to offering actionable intelligence that empowers businesses to make informed decisions and navigate the dynamic healthcare landscape.
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Key Takeaways:
- In 2022, the injection supplies drugs market held more than 29% of the business share coming from the prefilled diluent syringes segment.
- In 2022, the market for online pharmacies generated more than US$ 34 Billion. The emergence of the COVID-19 pandemic is a major factor that is driving a steady shift away from physical pharmacies and toward online e-commerce websites. This shift is expected to help to foster the development of online platforms.
- In 2022, the lyophilized injectable market in North America held more than a 47 percent revenue share.
- In 2022, the segment of antiarrhythmic drugs accounted for more than US$19 Billion in revenue. The growing incidence of cardiovascular diseases across the globe is one of the primary contributors to the skyrocketing demand for these medications.
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.
- B. Braun Melsungen AG
- Baxter International, Inc.
- BD
- Schott AG
- Aristopharma Ltd.
- Vetter Pharma
- Jubilant HollisterStier LLC
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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
By Region:
- North America
- Latin America
- Asia Pacific
- MEA (Middle East and Africa)
- Europe
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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