The Growing Lyophilized Drugs Market is Driven by Increased Shelf Life of Therapeutic Agents
The Global Lyophilized Drugs Market is estimated to be valued at US$ 366.11 Mn in 2024 and is expected to exhibit a CAGR of 5.0% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Lyophilized Drugs Market include 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.). Key players are focused on developing new lyophilized formulations through extensive R&D activities.
The growing Lyophilized Drugs Market Demand for therapies requiring Freeze-dried formulations is a key factor driving the growth of the Lyophilized Drugs Market. Lyophilized drugs offer advantages like enhanced stability at room temperature and ability to hold high drug concentrations. This increases their preference over conventional liquid formulations.
The Lyophilized Drugs Market is also growing due to increasing global expansion by key players. Manufacturers are focusing on expanding their presence in emerging markets of Asia Pacific and Latin America seeing high potential offered. This is further contributing to increased access to lyophilized drugs in developing regions.
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