The global lyophilized drugs market, by Drug Class (Anti-infective, Antineoplastic, Diuretics, Proton Pump Inhibitor, Anesthetic, Anticoagulant, NSAID’s (Nonsteroidal anti-inflammatory drugs), and Others), by Indication (Infectious Disease, Autoimmune Disease, Gastrointestinal Disease, Cancer, and Others), by Packaging Type (Vial, Injection, and Cartridge), and by region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 322.9 Billion in 2018, and is projected to exhibit a CAGR of 7.1%, during the forecast period (2018-2026), as highlighted in a new report published by Coherent Market Insights.
Increasing number of product launches for lyophilized drugs is contributing to growth of the global lyophilized drugs market. For instance, in July 2015, Sandoz AG launched a generic version of ANGIOMAX (bivalirudin) for injection in the U.S market after completing a supply and distribution agreement with The Medicines Company. The drug is used as an anticoagulant agent for treating patients with unstable angina, undergoing percutaneous transluminal coronary angioplasty (PTCA), and percutaneous coronary intervention (PCI).
Increasing focus of manufacturers on the development of innovative lyophilization technologies and services, in order to manufacture lyophilized drug with utmost quality and capacity, is contributing to lyophilized drugs market growth. For instance, in May 2015, Symbiosis Pharmaceutical Services, Sterile manufacturing CMO, announced to offer a new bulk lyophilization (freeze drying) service, in order to meet utmost quality in the manufacturing of bulk intermediates and APIs by lyophilization. Thus, development of such novel service platforms isw creating opportunity for manufacturers to expand in lyophilized drugs, thus, aiding in growth of the market in the near future
browse 35 Market Data Tables and 38 Figures spread through 208 Pages and in-depth TOC on "Global Lyophilized Drugs Market, by Drug Class (Anti-infective, Antineoplastic, Diuretics, Proton Pump Inhibitor, Anesthetic, Anticoagulant, NSAID’s, and Others), by Indication (Infectious Disease, Autoimmune Disease, Gastrointestinal Disease, Cancer, and Others), by Packaging Type (Vial, Injection, and Cartridge), and by region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2026"
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Increasing regulatory approval for lyophilized drug is contributing to lyophilized drugs market growth. For instance, in September 2018, Novartis Pharmaceuticals Corporation received the U.S. Food and Drug Administration approval for its Xolair (omalizumab) prefilled syringe formulation, for the treatment of moderate to severe persistent allergic asthma and chronic idiopathic urticarial. The drug is available in a 150 mg single-dose vial with lyophilized, sterile powder for reconstitution.
Moreover, increasing investments and facility expansion is expected to show significant growth for the global lyophilized drugs market. In August 2016, Dalton Pharma Services completed an investment of US$ 5 million for expansion of its sterile filling and active pharmaceutical ingredient (API) manufacturing facility at its current good manufacturing practices (cGMP) facility in Toronto, Canada. This expansion project added three new sterile processing facilities, an API manufacturing facility, and a semi-automated powder filling line with scale-up of lyophilization capacity.
Key Takeaways of the Global Lyophilized Drugs Market:
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