Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Lyophilized Injectable Drugs Market (By Packaging Type: Specialty Packaging, Point-Of-Care Reconstitution, Single-Use Vials, Others; By Type of Delivery: Single-step Devices, Multi-step Devices, Prefilled Diluent Syringes, Proprietary Reconstitution Devices; By Indication: Infectious Diseases, Autoimmune Diseases, Metabolic Conditions, Others; By End-user: Ambulatory Surgical Centers, Hospitals, Specialty Clinics, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026”.
LOS ANGELES, March 08, 2019 (GLOBE NEWSWIRE) -- The global lyophilized injectable drugs market size is anticipated to around USD 4,350.3 Million by 2026, this market is anticipated to grow with 6.9% CAGR during the forecast time period. Rise in health awareness and extensive usage of this drugs as a quick drying method is projected to drive the growth of the global lyophilized injectable drugs market.
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Lyophilization is a freeze drying method which is used for water removal from the material to extend its stability and shelf life. The products that are processed under lyophilization, output products are freezed under high vacuum that is majorly used for application in pharmaceutical industries for manufacturing high quality and affordable products. The global lyophilized injectable drugs market is driven by rise in chronic health conditions, increase in elderly population suffering from cardiac diseases and advancement in drying technologies. Furthermore, lyophilization process allows safe transfer of materials to the end users. Rise in alternative method to injectable drugs can restrain the growth of lyophilized injectable drugs market. Lyophilized injectable drugs is easy to transfer as it strengthens the stability of material and offers high quality products as compared to xconventional drying methods. This transformation from conventional drying method to advanced freezed drying technologies is one of the growth enablers of global lyophilized injectable drugs market over the coming years.
Lyophilized injectable drugs are safer and effective in administration of materials as compared to dried products.Owing to which the demand for lyophilized injectable drugs market is expected to grow in near future. High quality and longer shelf life of lyophilized injectable drugs has created growth opportunities for manufacturers to implement lyophilization process in the product manufacturing processes. The contract manufacturing and research services are in huge demand that offers lyophilized injectable drugs to offer high quality products to the end users. Therefore, huge presence of contract research manufacturing services is anticipated to bolster the growth of global lyophilized injectable drugs market.
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The global lyophilized injectable drugs market is segmented into five main 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 into single-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.
North America is expected to dominate the global lyophilized injectable drugs market and accounted for major share in 2017. The market is expected to lose share to the developing economies of Asia Pacific region. The widespread adoption of lyophilized injectable drugs for various application in end use industries is attributed to create opportunities in the region.The specialty packaging segment is growing rapidly due to the introduction of advanced packaging solutions which is one of the major factors expected to drive the growth of lyophilized injectable drugs market in the near future.
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The rise in improved healthcare infrastructure in developing countries such as Singapore, India and Malaysia is expected to create growth opportunities for manufacturers in healthcare industry. This factors is anticipated to boost the demand in the regional market over the coming years.
The prominent players in the global 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.The key vendors in the global lyophilized injectable drugs market are focusing on product launch and partnership strategy with an aim to capture large market share and gain in the lyophilized injectable drugs market. Also, the increase in availability of contract manufacturing and research is expected to offer lucrative opportunities for the key vendors in the global market.
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