Lyophilized Drugs Market to Showcase CAGR of 7.1% and Hit USD US$ 322.9 Billion by 2027; Rising Number of Procedures to Spur Growth

Published : 3 years ago, on 14/09/2021

Lyophilized Drugs are presently utilized in pharmaceutical manufacturing, food & beverage industries, and biotechnological and drug research industries. It provides many advantages including the security of the products, increased shelf-life, reduced cost, optimized production, and transportation of medicines. Over the years, regulatory authorities have been increasingly approving lyophilized drugs in the market. These drugs offer various advantages such as enhancing the stability of dry power, removing water content without having to heat the product excessively and processing liquid with ease. Recently, in July 2020, Myland N.V. received regulatory approval from the Drug Controller General of India (DCGI) for its remdesivir Lyophilized Powder for injection 100 mg/vial, indicated for the treatment in COVID-19 patients. Hence, approval of such products can stimulate growth of the lyophilized drugs market.

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Another key aspect of this market is that major industry players are focused on different inorganic strategies. These strategies are undertaken, in order to expand market presence and enhance the product portfolio. Recently, in August 2020, Sanofi S.A. acquired Principia Biopharma Inc., a U.S.-based biotech company, for US$ 3.4 billion. Therefore, such strategies can potentially augment growth of the lyophilized drugs market.

Recently, in August 2020, GlaxoSmithKline plc received the U.S. Food and Drug Administration (FDA) approval for BLENREP as a monotherapy treatment for adult patients with relapsed or refractory multiple myeloma.

When it comes to regional impact, developed regions such as North America seem to be gaining significant traction in the lyophilized drugs market. This is due to the fact that there is a major presence of key pharmaceutical companies such as Merck & Co. Inc., Fresenius Kabi, and Amneal Pharmaceutical in the region. On the contrary, Asia Pacific seems to be registering promising signs with key players focusing on expanding their production facility.

The lyophilization process not only provides increased protection to the active ingredient of the medication but also helps in retaining the medicinal properties of the medicine. In addition, it has the potential to minimize contamination of raw materials during processing. These advantages have made it highly popular for pharmaceutical manufacturing, medical device manufacturing, and food and beverage industries. Regardless of numerous advantages, there are certain factors that can pose major challenges in growth of the market. One of the key hurdles is product recalls for lyophilized drugs and packaging types. Hence, such factors can impede growth of the lyophilized drugs market in the near future.

Top Key Players Include In Lyophilized Drugs Market Market: Sanofi S.A, Merck & Co., Inc., Fresenius Kabi USA, LLC., Ciron Drugs & Pharmaceuticals Pvt Ltd., GlaxoSmithKline plc., Mylan NV., Pfizer, Inc., Amneal Pharmaceuticals LLC, Otsuka Holdings Co., Ltd.  (Otsuka Pharmaceutical Co., Ltd.), and BTG Plc.

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