Lyophilized Injectable Drugs industry is anticipated to register 13% CAGR between 2022 and 2030 owing to increasing number of product approvals for lyophilized injectable drugs.
Selbyville, Delaware, Oct. 11, 2022 (GLOBE NEWSWIRE) —
The lyophilized injectable drugs market value is projected to reach USD 740 billion by 2030, according to a new research report by Global Market Insights Inc.
The report identifies the ongoing product approvals for critical drugs as a key factor driving the industry growth, with development of vast product pipelines across developed nations. Also, the emergence of novel diseases and the lack of treatment for several terminal illnesses has encouraged clinical studies. Various organizations are working towards securing approval for the use of lyophilized injectable drugs in cancer treatment.
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Antiarrhythmic drugs segment accounted for over USD 19 billion in 2021. Rising demand for these drugs can be attributed to the increasing prevalence of cardiac disorders worldwide. In addition to this, this class of drugs is also heavily used in intensive care units (ICUs), which will augment the industry forecast.
Lyophilized injectable drugs market from respiratory diseases indication is anticipated to witness 12% CAGR between 2022-2030. The incidences of respiratory disorders have increased at a notable pace over the last decade on account of urbanization, rising pollution levels, changing lifestyle habits, excessive consumption of tobacco, and a constantly growing geriatric population.
Browse key industry insights spread across 205 pages with 419 market data tables & 18 figures & charts from the report, “Lyophilized Injectable Drugs Market Analysis By Drug (Anti-infective, Anti-neoplastic, Anticoagulant, Hormones, Antiarrhythmic), Indication (Autoimmune Diseases, Respiratory Diseases, Gastrointestinal Disorders, Oncology, Cardiovascular Diseases, Infectious Diseases, Metabolic Disorders), Delivery (Prefilled Diluent Syringes, Multi-step Devices), Packaging (Vials, Cartridges, Prefilled Devices), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
Lyophilized injectable drugs market from prefilled diluent syringes segment held more than 29% business share in 2021. Prefilled syringes have gained considerable traction owing to several advantageous features such as improved handling and convenience, accelerating the use of drugs in home-care settings. These syringes help extend the shelf life of drugs without hampering their potency, which is expected to foster a sustainable rise in demand for lyophilized injectable medications.
Online pharmacy segment was more than USD 34 billion in 2021. A steady shift from pharmacy stores to e-commerce websites, notably driven by the emergence of the COVID-19 pandemic will foster the development of online platforms. Online or e-commerce shopping has multiple benefits such as easy and convenient purchases, discount offers, and availability of innovative products.
North America lyophilized injectable drugs market held over 47% revenue share in 2021. Rising cases of chronic diseases across the region, robust healthcare infrastructure and favorable reimbursement framework will bolster the industry expansion across the U.S. and Canada. Growing consumption of processed food, alcohol, and unhealthy lifestyle habits have contributed to rapid growth in the number of obese and diabetic adults. Continuous rise in healthcare R&D expenditure will offer significant opportunities for drug makers in the region.
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The competitive landscape of the lyophilized injectable drugs market is inclusive of major companies such as Bristol Myers Squibb, F. Hoffmann-La Roche Ltd, Novo Nordisk A/S, Sanofi, Aurobindo Pharmaceuticals, Merck & Co., Inc, Zydus Group, Vetter Pharma, Takeda Pharmaceutical Company Limited, and Cipla Ltd, among others. These participants are accelerating product commercialization efforts to enhance accessibility to drugs.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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