Lyophilized drugs, also known as freeze-dried drugs, are water-soluble pharmaceutical products or biomaterials that go through the freeze-drying process to increase their shelf life. The lyophilization process involves freezing the product, reducing pressure around it to allow the frozen water in it to sublimate directly from the solid phase to gas phase. This prevents deterioration by removing water that would otherwise support degradation reactions. Some common lyophilized drugs include vaccines, antibody therapies, blood factors and insulin injections. Recent advancements in freeze-drying technology have enabled more complex drug molecules and formulations to be lyophilized.
The global Lyophilized Drugs Market is estimated to be valued at US$ 20 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 Dynamics:
The Lyophilized Drugs Market increased adoption of freeze-drying technique in pharmaceutical manufacturing is expected to drive the growth of the lyophilized drugs market during the forecast period. Freeze-drying offers various advantages over traditional drying methods like spray drying or fluid bed drying. It minimizes chemical and physical degradation of drugs during drying and storage. Freeze-drying also allows flexible dosage forms and delivery options with minimal adverse effect on drug potency. Recent approvals and commercialization of several monoclonal antibody therapies and vaccines has fueled demand for novel freeze-drying formulations. Furthermore, increasing uptake of personalized medicines and biologics has amplified the need for thermostable and stable drug products, thereby boosting the lyophilized drugs market.
The key drivers discussed earlier, increased adoption of freeze-drying technique and demand for stable drug products, are expected to aid the growth of the global lyophilized drugs market during the forecast period. The report does not cover details about individual companies operating in this market.
Segment Analysis
The lyophilized drugs market can be segmented based on type as lyophilized injectable drugs and lyophilized oral drugs. Lyophilized oral drugs are dominating the market currently as they account for over 60% share of the total market. This is because lyophilized oral drugs sees higher demand owing to availability of wide range of drugs and medicines in oral solid dosage forms such as tablets and capsules compared to injectable drugs.
PEST Analysis:
The lyophilized drugs market is regulated by several regulatory bodies globally. Any changes in the stringent regulations by these bodies can affect the market positively or negatively.
Economic: The market has seen steady growth over the past few years backed by rising healthcare spending, increasing demand for superior drug delivery methods and longer shelf life of drugs.
Social: Growing geriatric population prone to chronic diseases and increasing awareness about benefits of lyophilization is fueling the demand for lyophilized drugs from social perspective.
Technological: Recent technological advancements in lyophilization equipment to reduce processing time and enhance stability are boosting the lyophilized drugs market. Continuous innovation is also helping market players develop new lyophilized drug formulations.
Key Takeaways
The Global Lyophilized Drugs Market Growth is expected to witness high over the forecast period of 2023 to 2030.
Regional analysis: North America currently dominating the global market due to presence of major players and advanced healthcare infrastructure. Europe and Asia Pacific are fastest growing regional markets stimulated by increasing healthcare spending and demand for branded lyophilized drugs.
Key players operating in the lyophilized drugs market are Pfizer Inc., Biocon, Dr. Reddy’s Laboratories, Cadila Healthcare Ltd., Lupin Ltd. Key players are focused on expanding their product portfolios through acquisitions and collaborations with biotech companies. Companies are also improving their distribution networks across global emerging markets to tap the growth opportunities.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it