The global Lyophilized Drugs Market Growth Accelerated by Demand for Longer Shelf Life
Lyophilized drugs, also known as freeze-dried drugs, are drugs that have had the majority of the water removed from them after being frozen. This process significantly increases shelf life and allows these drugs to be rehydrated prior to use.
The global Lyophilized Drugs Market is estimated to be valued at US$ 366.11 Mn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing demand for longer shelf life pharmaceutical products is one of the key trends driving growth in the lyophilized drugs market. Lyophilization prevents degradation by removing water and allows storage of drugs at room temperature for extended durations without refrigeration. This has enabled storage and transportation of drugs in remote locations lacking cold storage infrastructure. As healthcare access expands to remote areas worldwide, the longer shelf life of lyophilized drugs has become essential. Furthermore, lyophilization streamlines supply chain operations by reducing cold storage requirements and enabling storage of drugs at room temperature at each point from manufacturing to the end user. The technology is thus seeing increased adoption by pharmaceutical companies to improve supply chain efficiency and access to drugs in temperature-sensitive locations worldwide.
Segment Analysis
The global lyophilized drugs market is dominated by the solid oral dosage segment due to its high adoption and sales. Solid oral dosage forms such as lyophilized tablets and capsules account for over 60% of the total market share owing to benefits such as easy administration, high stability, and convenient storage and distribution. The demand for parenteral dosage forms, including prefilled syringes and injectables, is expected to witness robust growth during the forecast period with rapid advancements in biologic drugs and clinical trials.
Key Takeaways
The Global Lyophilized Drugs Market Size is expected to witness high growth. The global Lyophilized Drugs Market is estimated to be valued at US$ 366.11 Mn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2024 to 2031.
Regional analysis related content comprises The North America region holds the largest market share currently and is expected to maintain its dominance over the forecast period. This is attributed to the rising prevalence of chronic diseases, increasing R&D investments in drug development, and strong presence of lyophilization equipment and drug manufacturers in the region.
Key players related content comprises
Key players operating in the lyophilized drugs market are BASF SE, Evonik Industries AG, Clariant AG, DuPont de Nemours, Inc., Albemarle Corporation, Arkema SA, Johnson Matthey PLC, Mitsubishi Chemical Corporation, Honeywell International Inc., Shell Catalysts & Technologies, W. R. Grace & Co., Haldor Topsoe A/S, Dow Chemical Company, CRI Catalyst Company, and Sud-Chemie India Pvt. Ltd. (Clariant India Ltd.).
The demand for lyophilized formulations is growing rapidly with rising preference for convenient drug delivery and self-administration. Key market players are investing in new product launches and capacity expansion to capitalize on the growth opportunities. Partnerships with contract manufacturing and development organizations are also on the rise.
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