Lyophilized drugs, also known as freeze-dried drugs, are water-soluble drugs or biological molecules such as enzymes, vaccines, peptides, antibodies etc. that are freeze-dried for extending their shelf life without refrigeration. Lyophilization involves freezing the material, lowering pressure and introducing sublimation to remove ice directly from the solid phase to the gas phase. This process can retain the biological activity of drugs for long duration. Lyophilized drugs have advantages like lightweight, small size, and long shelf life without need of refrigeration.
The global Lyophilized Drugs Market is estimated to be valued at US$ 12 Billion in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increased shelf life: Lyophilization increases the shelf life of drugs drastically by removing moisture content through freeze drying process. This prevents hydrolysis degradation, oxidation, and microbial growth of drugs, especially biological and biopharmaceutical products. The longer shelf life without refrigeration facilitates easy transportation and storage of lyophilized drugs in developing countries and remote locations. This key trend of increased shelf life of drugs for years has been a major growth driver of lyophilized drugs market.
Segment Analysis
The lyophilized drugs market can be segmented based on products and applications. Based on products, the market is segmented into freeze-dried powder injection, freeze-dried powder for injections, lyophilized powder injection and others. Among these segments, the lyophilized powder injection segment is dominating the market as it has a longer shelf life without refrigeration and safe transportation.
Key Takeaways
The Global Lyophilized Drugs Market Demand is expected to witness high growth.
Regional analysis: North America currently dominates the global lyophilized drugs market owing to the presence of well-established healthcare infrastructure and high adoption of advanced technologies. Asia Pacific is expected to grow at the fastest rate during the forecast period due to increasing healthcare expenditure and rising availability of lyophilized formulations.
Key players: Key players operating in the lyophilized drugs market are GlaxoSmithKline, Becton, Dickinson and Company, Pfizer, Inc, Bayer AG, Teva Pharmaceutical Industries Ltd, Sanofi, AstraZeneca, Johnson & Johnson Services. Inc, Merck & Co., Inc. GlaxoSmithKline holds the highest market share due to its strong product portfolio and global presence. Becton, Dickinson and Company is expanding its lyophilized drug product offerings through strategic acquisitions and partnerships to strengthen its market position.
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