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Lyophilized Injectable Market to Grow at a CAGR of 5.8% from 2022 to 2028

The lyophilized injectable market is projected to reach US$ 4,001.27 million by 2028 from US$ 2,719.42 million in 2021.

NEW YORK, UNITED STATES, December 2, 2022 /EINPresswire.com/ -- Lyophilized injectable are freeze-dried drugs that are more stable and can be transported and stored in single-use vials, point-of-care reconstitution, and specialty packaging for a longer period. At the time of use, required quantity of drugs can be reconstituted with the help of diluents. Lyophilized injectable are also termed as freeze-dried injectable as they are manufactured by the lyophilization process which is the technique of isolating a solid material from a solvent by freezing and evaporating the solution under vacuum. Lyophilized Injections is often considered as best alternative to oral solid dosage forms. In many case studies, lyophilized injections have immensely benefitted bedridden patients. Lyophilized injections are also prescribed to attain maximum bioavailability and stability in patients suffering from several diseases as these injectable have a longer shelf life than other dosage forms.

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The lyophilized injectable market is projected to reach US$ 4,001.27 million by 2028 from US$ 2,719.42 million in 2021; it is expected to grow at a CAGR of 5.8% from 2022 to 2028. The report highlights the key factors driving the market growth and prominent players with their developments in the global lyophilized injectable market.

The lyophilized injectable market is majorly comprised of top players involving Baxter; Nipro; Curia Global, Inc.; Recipharm AB; Vetter Pharma; Jubilant HollisterStier (Jubilant Pharma Limited); Aristopharma Ltd.; CordenPharma International; Credence MedSystems, Inc.; and S. G. Biopharm Pvt. Ltd. among others.

The companies listed above are implementing various strategies that have resulted in the growth of the company and in turn, have brought about various changes in the worldwide market. Additionally, the companies have adopted several inorganic and organic strategies for accelerating their growth and improving their market position.

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The outbreak of COVID-19 pandemic had a positive impact on lyophilized injectable market growth. The rise in the COVID-19 cases along with the increase in prevalence of chronic disorders, including cancer, metabolic conditions, and autoimmune disorders led to huge investments for the development of lyophilized injectable which drives the growth of market during the pandemic. Moreover, the launch of COVID-19 vaccines, such as remdesivir, and cosentyx, approved by the Food and Drug Administration (FDA) for emergency use has also generated the demand for lyophilized injectable. Moreover, surge in infectious diseases, increasing use of antibiotics for infectious diseases, rising inclination toward biologics, and surging contract research organizations will propel the growth of the lyophilized drugs market. Moreover, various advantages offered by lyophilized injectable include easy transportation, storage, reconstitution, reduction in cold chain, and reduced carbon footprint. Overall, the COVID-19 pandemic has positive impact on the lyophilized injectable market.

Based on type of packaging, the is segmented into single-use vials, point-of-care reconstitution, and specialty packaging. The single-use vials segment is likely to account for the largest market share during 2022–2028. By type of delivery, the market is segmented into prefilled diluent syringes, single-step devices, proprietary reconstitution devices, and multi-step devices. The prefilled diluent syringes segment held the largest market share in 2021 and is likely to continue its dominance during the forecast period. Based on indication, the global lyophilized injectable market is segmented into metabolic and oncology conditions, infectious diseases, autoimmune diseases, and others. The metabolic and oncology conditions segment is likely to account for the largest market share during 2022–2028. By end user, the market is segmented into hospitals, ambulatory surgical centers, specialty clinics, and others. The hospitals segment held the largest market share in 2021 and is likely to continue its dominance during the forecast period.

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