Over the next few years, the Global Lyophilized Injectable Market is expected to grow at a steady rate of 5.8%. The lyophilized injectable market is currently valued at US$ 3043.55 Million in 2023. By 2033, demand for lyophilized injectables is expected to reach a high of US$ 5348.56 Million.
The popularity of lyophilized medications is growing as a result of their stability at room temperature. Additionally, after a brief rehydration procedure, they are prepared for usage. Therefore, using this method streamlines and simplifies procedures while also helping to reduce the likelihood of making a lot of pipetting errors. As a result of all these benefits, the global lyophilized injectable market is predicted to expand in the coming years.
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A significant factor driving up the demand for these medicines is the rise in chronic diseases. Over the last ten years, there has been a big drop in the number of people with heart disease, kidney disease, cancer, and diabetes.
All these diseases have been linked to people becoming less active and eating more processed foods. The fact that more young adults now consume alcohol and smoke tobacco has increased concerns about them developing chronic diseases. One of the most important aspects of lyophilizing injectable medications is the packaging used to store them. Even when it only happens occasionally, lyo-breakage has a big effect on operations and costs. This has made the key players in the global lyophilized injectable market more interested in the possibility of using different vial designs in their plans to lower the risk of lyo-breakage. With this change, businesses can move vials in and out of the lyophilizer without having to use a lot of side-load force.
Lyophilization is an extremely important process that requires a wide range of expensive tools to complete successfully. So, to prevent lyo-breakage, manufacturers are focusing on lowering the peak vertical load when the stopper is closed.
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 Bn. 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 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.
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
By Region:
• North America
• Latin America
• Asia Pacific
• MEA (Middle East and Africa)
• Europe