Lyophilization in Pharmaceutical Market
The global Lyophilization In Pharmaceuticals market in 2020 is estimated for more than US$ 6.7 Bn and expected to reach a value of US$ 11.6 Bn by 2028 with a significant CAGR of 7.2%
Meridian Market Consultants (MMC) has published a new report titled, “Global Lyophilization in Pharmaceutical Market: Opportunity Analysis and Future Assessment 2020 to 2028”
Global Lyophilization in Pharmaceutical Market, by Type (Tray-Style Freeze Dryers, Manifold Freeze Dryers, Shell (Rotary) Freeze Dryers), by Application (Food Processing and Packaging, Pharmaceutical and Biotechnology Manufacturing, Medical Applications, Others), By Scale of Operation (Industrial-Scale Lyophilization Equipment, Pilot-Scale Lyophilization Equipment, Laboratory-Scale Lyophilization Equipment), by Accessories Type (Loading & Unloading Systems, Controlling & Monitoring Systems, Vacuum Systems, Clean-In-Place (CIP) Systems, Drying Chambers, Freeze Drying Trays & Shelves, Manifolds, & Other Accessories) By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The global Lyophilization In Pharmaceuticals Market in 2020 is estimated for more than US$ 6.7 Bn and expected to reach a value of US$ 11.6 Bn by 2028 with a significant CAGR of 7.2%.
As per the report, pharmaceutical and biotechnology drugs are often highly sensitive and complex molecules that can be negatively affected by external factors such as sunlight, oxygen, pH, and others. Leaving marketers and manufacturers looking for innovative ways to preserve and protect these difficult-to-handle substances, lyophilization offers a highly efficient and suitable technique to meet the needs for handling the complexities of constituents during pharmaceutical manufacturing.
Although the principles of lyophilization are traditional and can be traced back to ancient times, the technological advancements in the product applications and innovation in the services of lyophilization are expected to favor the market growth. For instance, in May 2015, Symbiosis Pharmaceutical Services, a Scotland based contract manufacturing organization (CMO) expanded its sterile filling offering to cater both aseptic and low bio-burden cleanroom dispensing of bulk materials.
Additionally, the freeze driers or lyophilizers are developed to control and assist the bulk pharmaceutical manufacturing as well as cater to the demands of in-house small-scale production and conduction of laboratory studies. For instance, in April 2017, BÜCHI Labortechnik AG, one of the market leaders in laboratory evaporation introduced the first freeze drier named Lyovapor L-300 with Infinite Technology that offers continuous sublimation for entire process control of relevant parameters via mobile devices.
Moreover, in December 2015, Millrock Technology introduced a solvent-remover freeze dryer featuring dual condensers that helps to eliminate the prior steps of solvent removal before lyophilization or freeze-drying. Apart from the manufacturers, various academic and research institutes are working towards advancing the process of lyophilization for the production of medicines and pharmaceutical drugs.
For instance, in January 2018, researchers in collaboration with industry leaders at Purdue University teamed up to transform the freeze-drying process for the development of life-saving drugs through the Advanced Lyophilization Technology Hub. Thus, the increasing number of innovative lyophilization products and services entering the market is anticipated to propel the growth of the market over the forecast years.
Furthermore, Meridian Market Consultants (MMC) Study identifies that, the global and multinational pharmaceutical as well as life sciences companies have their strong focus on clinical research development programs in the North American and European markets.
However, emerging markets have rapid changes underway in the pharmaceutical sector. The major reason for the growth of emerging markets is the rise in paying capability of the middle class as well as the category’s expansion in the majority of the developing nations. The UBM Pharma reports that virtually every emerging market that counts from Brazil to Indonesia to Mexico and China is going through a changing phase and observing a bulk amount of patients that now qualify to afford essential care and purchase private health insurance.
Moreover, the public healthcare reforms are also improving due to the increasing focus of the governments in the emerging markets in terms of medical access expansion through the establishment of universal healthcare coverage and other favorable policies.
On the other hand, not only in terms of monetary factors, the emerging nations are witnessing a rise in the pharmaceutical industry due to the increasing incidence of chronic diseases in the regions. This in turn generates a demand for various types of drug formulations where lyophilized drugs play one of the major roles.
Moreover, the financial assistance from the regional investors as well as government funds to support the innovative and new start-ups in the regions are also responsible to attain fertile growth from these regions. Thus, the market players focusing on their expansion in these high potential regions could benefit significantly in the global lyophilization for the pharmaceuticals market over the forecast years.
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