The Global Lyophilized Product Market, By Drug Class (Anti-infective, Antineoplastic, Diuretics, Proton pump inhibitor, Anesthetic, Anticoagulant, NSAIDs, and Others), By Indication (Infectious Disease, Autoimmune Diseases, Gastrointestinal Diseases, Cancer, and Others), By Packaging Type (Vial, Syringes, and Cartridge), and By Region (North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa) is estimated to be valued at US$ 393.8 Bn in 2021 and expected to exhibit a CAGR of 7.3% during the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.
Market players are focusing on adopting different business strategies such as product launches and approvals, in order to expand their product portfolio which is expected to propel the global lyophilized product market growth over the forecast period. For instance, in August 2021, Sanofi Genzyme, a subsidiary of Sanofi, received the U.S. Food and Drug Administration (FDA) approval for its drug Nexviazyme indicated for late-onset Pompe disease. Nexviazyme is available in the form of lyophilized powder for reconstitution and injection.
Global Lyophilized Product Market – Impact of Coronavirus (COVID-19) Pandemic
Governments and government agencies globally are taking various initiatives to combat the spread of the COVID-19. For instance, in May 2020, the Centers for Disease Control and Prevention started working with an All-of-Government and All-of-America approach to increase testing capacity, improve case detection, and contact tracing across all U.S. states and re-open the country. Various leading pharmaceutical and technological companies were collaborating with the U.S. government for faster clinical development of vaccines for the prevention of the COVID-19 infections in the U.S. For instance, in July 2020, IQVIA, a clinical service company, and Astra Zeneca, a pharmaceutical company, announced the collaboration with the U.S. government for Operation Warp Speed project. Operation Warp Speed is part of a broader strategy to accelerate the development, manufacturing, and distribution of COVID-19 vaccines, therapeutics, and diagnostics. The specific IQVIA and AstraZeneca collaboration will drive faster delivery of clinical studies in the U.S. aimed at demonstrating efficacy of AstraZeneca’s potential COVID-19 vaccine, AZD1222.
Browse 35 Market Data Tables and 39 Figures spread through 326 Pages and in-depth TOC on “Global Lyophilized Product Market” - Forecast to 2028, Global Lyophilized Product Market, By Drug Class (Anti-infective, Antineoplastic, Diuretics, Proton pump inhibitor, Anesthetic, Anticoagulant, NSAIDs, and Others), By Indication (Infectious Disease, Autoimmune Diseases, Gastrointestinal Diseases, Cancer, and Others), By Packaging Type (Vial, Syringes, and Cartridge), and By Region (North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in the Global Lyophilized Product Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/lyophilized-product-market-4910
Increasing product launches and approvals are expected to drive the global lyophilized product market growth. For instance, in May 2021, Zydus Cadila, a leading Indian Pharmaceutical company, launched Trastuzumab Emtansine, the first Antibody Drug Conjugate (ADC) biosimilar and a highly effective drug for treating both early and advanced HER2 positive breast cancer, under the brand name ‘Ujvira’. HER2 positive breast cancer is considered an aggressive form and constitutes 20% to 25% of all breast cancers.
Key Takeaways of the Global Lyophilized Product Market:
- The global lyophilized product market is expected to exhibit a CAGR of 7.3% during the forecast period. Companies operating in the market are engaged in technological advancements of lyophilization process to enhance their production capacity, which is expected to boost the market growth. For instance, in April 2017, BUCHI Labortechnik AG, a provider of laboratory evaporation equipment, launched the modular Lyovapor platform for freeze drying. Using Infinite-Technology, Lyovapor L-300 offers continuous sublimation.
- Among packaging type, the vial segment is estimated to hold the largest market share in the global lyophilized product market over the forecast period. Key players are focused on increasing their vial manufacturing capacity and the development of highly advanced packaging products that protect both vials and drugs during lyophilization. This is expected to drive the segment growth. For instance, in February 2017, West Pharmaceutical Services, Inc., a leading manufacturer of packaging components and delivery systems for injectable drugs and healthcare products, launched its LyoSeal cap designed for instant sealing of lyophilized drug vials at Pharmapack 2017, an exhibition for pharmaceutical packaging held in Europe.
- Among regions, North America is estimated to hold a dominant position in the global lyophilized product market in Product launches by key players particularly for the U.S. market is expected to drive the lyophilized product market growth in North America. For instance, in November 2018, Xellia Pharmaceuticals (‘Xellia’) is a specialty pharmaceutical company, launched its Vancomycin Hydrochloride for Injection, (lyophilized powder) USP within the U.S. market.
- Major players operating in the global lyophilized product market are Sanofi, Merck & Co., Inc., Fresenius Kabi AG, Ciron Drugs & Pharmaceuticals Pvt. Ltd., Glaxosmithkline Plc, Mylan NV., Pfizer, Inc., Amneal Pharmaceuticals LLC, Otsuka Holdings Co. Ltd., BTG PLC, Bristol-Myers Squibb Company, Novartis AG, Takeda Pharmaceutical Company Limited, Biogen Inc., Dr. Reddy's Laboratories Ltd., Zydus Cadila, AbbVie Inc., Cipla Inc., Johnson & Johnson Services, Inc., Affy Pharma Private Limited, Jubilant Pharmova Limited, and Biocon
