pune, Maharashatra -- (SBWIRE) -- 01/23/2020 -- Transparency Market Research (TMR) has published a new report titled, "Lyophilized Injectable Drugs Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026". According to the report, the global lyophilized injectable drugs market was valued at US$ 2,300 Mn in 2017 and is projected to expand at a CAGR of 6.7% from 2018 to 2026. The global market is growing at a rapid pace due to rise in awareness and acceptance of lyophilized injectable drugs in proven applications and chronic medical conditions such as cardiac diseases and metabolic diseases. Increase in usage of lyophilized injectable drugs in combination therapy is anticipated to augment the global lyophilized injectable drugs market.
lyophilized injectable drugs market
The global lyophilized injectable drugs market has been segmented based on type of packaging, type of delivery, indication, and end-user. In terms of type of packaging, the market has been categorized into single-use vials, point-of-care reconstitution, specialty packaging, and others. Based on type of delivery, the global lyophilized injectable drugs market has been classified into prefilled diluent syringes, proprietary reconstitution devices, single-step devices, and multi-step devices. In terms of indication, the market has been divided into autoimmune diseases, infectious diseases, metabolic conditions, and others. Based on end-user, the market has been categorized into hospitals, ambulatory surgical centers, specialty clinics, and others. Moreover, lyophilized injectable drugs can be reconstituted easily and quickly, which is particularly valuable and useful for emergency antibiotics and vaccines that need to be administered quickly during causalities. Furthermore, lyophilized injectable drugs involve less cost compared to deep freezing and other conventional drug drying methods used for preservation of APIs and formulations.
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Development of Alternative Methods to Hamper Market Growth
Lyophilization of injectable drugs is an expensive process; hence, manufacturers strive to develop an alternative drying method to increase the shelf life of products, which can prove economical. However, such alternative processes need improvement in terms of retaining stability and biological or chemical activity of the substance. Roche has developed a precipitation method as an alternative to lyophilization for the production of peptides, which enabled the company to reduce production costs, and deliver an effective, quality, and affordable product to customers. Advent of alternative methods during the forecast period is likely to hamper the growth of the global lyophilized injectable drugs market.
Specialty Packaging Segment to Grow at Rapid Pace
The report offers detailed segmentation of the global lyophilized injectable drugs market based on type of packaging, type of delivery, indication, and end-user. In terms of type of packaging, the single-use vials segment dominated the global market in 2017. Increase in self administration of lyophilized injectables to treat various chronic conditions such as diabetes, rheumatoid arthritis, and migraine is projected to drive the single-use vials segment during the forecast period. The specialty packaging segment is expected to grow at a rapid pace from 2018 to 2026, as the segment offers packaging solutions such as pens, needle-free injectors, and two-part syringes that allow reconstitution in the device prior to injection.
North America Dominated Global Market
North America was the leading market for lyophilized injectable drugs in 2017 primarily due to extensive research & development activities, rapid acceptance of innovative technologies, and significant investments toward the development of health care infrastructure. Additionally, presence of large number of manufacturing facilities in North America makes it the largest market for lyophilized injectable drugs. Moreover, large size of the contract manufacturing and services market in North America drives demand for lyophilized injectable drugs in the region. Asia Pacific presents significant opportunities in the health care sector, and was the third largest market in 2017. The region accounted for large share of the global lyophilized injectable drugs market in 2017. Asia Pacific comprises emerging economies such as India, China, Indonesia, Vietnam, the Philippines, Malaysia, Singapore, and Thailand. These countries present large opportunities in the health care sector. The lyophilized injectable drugs market is expected to grow at a rapid pace in the region in the next few years due to untapped opportunities, improving health care infrastructure, and increasing availability of contract manufacturing and research services.
Braun Melsungen AG, Baxter, Becton, Dickinson and Company, and Mylan N.V. Lead the Market
The report also provides profiles of leading players operating in the global lyophilized injectable drugs market. These include B. Braun Melsungen AG, Baxter, Becton, Dickinson and Company, Mylan N.V., Schott AG, SHL Group, Vetter Pharma, CIRON Drugs & Pharmaceuticals Pvt. Ltd, and Jubilant HollisterStier.