According to a recent report by Future Market Insights (FMI), the global lyophilized injectable market is set to experience substantial growth over the next decade. Valued at USD 3,043.55 million in 2023, the market is projected to reach an impressive USD 5,348.56 million by 2033, demonstrating a Compound Annual Growth Rate (CAGR) of 5.8% during the forecast period.
The rising demand for innovative and convenient drug delivery solutions is a key driver behind this market expansion. Lyophilized injectables, also known as freeze-dried injectables, are becoming increasingly popular in the healthcare industry due to several advantages. These include superior stability during transportation and storage, extended shelf life, and the ease of reconstitution with sterile solvents for administration.
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“Lyophilized injectables offer several critical advantages over traditional liquid formulations, making them an attractive option for both pharmaceutical companies and healthcare providers,” said Future Market Insights. “Their ability to maintain stability and efficacy over extended periods and under various conditions is particularly beneficial in today’s fast-paced and globalized healthcare environment.”
The FMI report highlights the growing adoption of lyophilized injectables in various therapeutic areas, including oncology, infectious diseases, and autoimmune disorders, where the need for stable and effective drug formulations is paramount. The report also points to advancements in lyophilization technology and increasing investments in research and development as key factors contributing to market growth.
As the healthcare industry continues to evolve, lyophilized injectables are expected to play a crucial role in ensuring the safe and efficient delivery of medications worldwide. With the market set to expand significantly over the next decade, stakeholders in the pharmaceutical and healthcare sectors are encouraged to capitalize on the opportunities presented by this promising market.
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.
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 USD 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 USD19 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.
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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.
- B. Braun Melsungen AG
- Baxter International, Inc.
- BD
- Schott AG
- Aristopharma Ltd.
- Vetter Pharma
- Jubilant HollisterStier LLC
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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