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Increased adoption of advanced treatment options such as biologics, vaccines, and gene therapies is driving market for lyophilization services, says Fact.
ROCKVILLE , MD, UNITED STATES, December 9, 2024 /EINPresswire / -- According to Fact, a market research and competitive intelligence provider, the global lyophilization services market is estimated to reach a valuation of US$ 2,944.1 million in 2024 and is expected to grow at a CAGR of 9.6% during the forecast period of (2024 to 2034).
The lyophilization services market is crucial for revolutionizing
Pharmaceutical and biotech manufacturing units through aiding in the creation and delivery of biologics, vaccines, and intricate therapeutics. With the rise of biologics and personalized medicines, pharmaceutical companies are moving towards lyophilization due to the need for stable, long-term storage of these sensitive products.
Freeze-drying helps products stay effective for longer periods and preserve their effectiveness without the need for continuous refrigeration, making it ideal for distributing globally to areas with limited cold-chain logistics. Outsourcing lyophilization to CDMOs has allowed pharmaceutical companies to simplify operations, cut production costs, and concentrate on essential R&D, promoting flexibility and innovation in drug development.
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The high expenses and technical challenges of in-house freeze-drying processes also contribute to the increased dependence on CDMOs. CDMOs play a crucial role in meeting increased market demand by offering knowledge, cutting-edge facilities, and large-scale operations. Advancements in automated freeze-drying and controlled nucleation have boosted process efficiency, reduced production time, and ensured consistent product quality.
Key Takeaways from Market Study
The global lyophilization services market is projected to grow at 6% CAGR and reach US$ 7,363.1 million by 2034
The market created an absolute $ opportunity of US$ 4,419.0 million growing at a CAGR of 6% between 2024 to 2034
North America is a prominent region that is estimated to hold a market share of 2% in 2034
Predominating market players includes Biolyph LLC, Atwill Medical Solutions, Alcami Corporation, among others.
Vaccine lyophilization services under applicaton segment are estimated to grow at a CAGR of 3% creating an absolute $ opportunity of US$ 1,119.5 million between 2024 and 2034.
North America and Western Europe are expected to create an absolute $ opportunity of US$ 2,501.1 million collectively
“Increased outsourcing to CDMOs for formulation of biologics driving lyophilization services market” says a Fact analyst.
Progress in technology, growth in outsourcing, and strategic investments are driving market growth in lyophilization services to meet the increasing demand for biologics and advanced therapies. The use of automated lyophilization systems and continuous freeze-drying technology has made processes more efficient, resulting in shorter cycle times and higher consistency and output, thus enabling more cost-effective and feasible large-scale production. Controlled nucleation, a technique that regulates the freezing stage of lyophilization, has enhanced product consistency, especially important for delicate formulations such as monoclonal antibodies and gene therapies.
CDMOs are playing a larger role in the process of lyophilization as pharmaceutical companies are more frequently delegating their freeze-drying requirements to cut down on costs, concentrate on research and development, and utilize specialized knowledge and tools. This change has prompted CDMOs to put money into new facilities, advanced lyophilizers, and adherence to rigorous regulatory criteria, guaranteeing their ability to satisfy the quality requirements and extensive production needs of the industry.
On February 2022, Thermo Fischer and Moderna announced long term strategic collaboration. Thermo Fischer will provide its manufacturing services such as aseptic fill-finish services including lyophilized and liquid filling to Moderna for its mRNA pipeline.
On May 2021, New England Biolabs, inc. (NEB®), a leading supplier of life science reagents, signed an agreement to acquire an U.K. based lyophilization R&D service company Fluorogenics Limited.
Key Market Players
Hausted Patient Handling Solutions, Stryker, Pedigo USA, Amico, Ferno EMS, Hill-Rom, and Spencer India Technologies Pvt. Ltd. are some of the leading manufacturers of ambulance cots.
Competitive Landscape
Leading companies in the asthma treatment market are prioritizing the development and launch of innovative medications to boost sales and establish a competitive edge in the industry.
In January 2023, Lupin, a global pharmaceutical firm headquartered in India, unveiled a new drug combination designed for asthma management and treatment. This fixed-dose triple drug combination (FDC), comprising Indacaterol, Glycopyrronium, and Mometasone, was introduced in India under the brand name DIFIZMA.
Growth Drivers for Lyophilization Services Market
Advancements in Lyophilization Technology: Continuous innovations in lyophilization processes, such as automation, energy-efficient freeze dryers, and enhanced formulation techniques, are driving market growth by improving efficiency and product quality.
Rising Demand for Biopharmaceuticals: The increasing need for biologics, vaccines, and other temperature-sensitive pharmaceuticals is propelling the demand for lyophilization services to ensure product stability and extended shelf life.
Expansion of Pharmaceutical Manufacturing: Growing investments in pharmaceutical and biotechnology manufacturing, especially in emerging markets, are boosting the need for advanced lyophilization services to meet production and storage requirements.
Stringent Quality and Regulatory Requirements: Increased emphasis on maintaining high-quality standards and compliance with stringent regulatory frameworks is encouraging pharmaceutical and biotech companies to adopt specialized lyophilization services for their products.
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More Valuable Insights on Offer
Fact, in its new offering, presents an unbiased analysis of the ambulance cot market, presenting historical demand data (2018 to 2023) and forecast statistics for the period (2024 to 2034).
The study divulges essential insights into the market based on product (emergency cots, transport cots), technology (manual cots, pneumatic cots, electric cots), and end user (EMS service providers, hospitals, ambulatory service centers), across six major regions of the world (North America, Europe, East Asia, Latin America, South Asia & Oceania, and MEA).
Checkout More Related Studies Published by Fact Research:
Dual Chamber Prefilled Syringes Market : Advancements in dual chamber prefilled syringe technology, such as improved design and sterility, are driving growth by ensuring safe, effective drug delivery and reducing waste, making them ideal for biologics and lyophilized drugs.
Hemophilia B Treatment Market : Advancements in hemophilia B treatment, focusing on innovative therapies to address coagulation factor deficiencies, are driving market growth. These treatments improve blood clotting processes, ensuring effective management of bleeding disorders and enhancing patient outcomes.
About Us:
Fact is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.
With its unwavering dedication to providing reliable market intelligence, FACT continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT ensures its clients receive actionable insights to capitalize on emerging opportunities and stay competitive.
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