Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
According to the Global Lyophilized Drugs Market Report, by Drug Class (Anti-infective, Antineoplastic, Diuretics, Proton Pump Inhibitor, Anesthetic, Anticoagulant, NSAIDs (Nonsteroidal anti-inflammatory drugs), and Others), By Indication (Infectious Disease, Autoimmune Disease, Gastrointestinal Disease, Cancer, and Others), By Packaging Type (Vial, Injection, and Cartridge), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), published by Coherent Market Insights, the global lyophilized drugs market is estimated to be valued at US$ 322.9 Billion in 2018, and is projected to exhibit a CAGR of 7.1%, during the forecast period (2018-2026).
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Increasing approval and launch of new lyophilized drugs is expected to propel growth of the global lyophilized drugs market over the forecast period. For instance, in July 2015, Sandoz AG launched a generic version of ANGIOMAX (bivalirudin), an anticoagulant agent for the treatment of patients with unstable angina, undergoing percutaneous transluminal coronary angioplasty (PTCA), and percutaneous coronary intervention (PCI).
Development of novel service platforms is expected to aid in growth of the global lyophilized drugs market. For instance, in May 2015, Symbiosis Pharmaceutical Services, a sterile manufacturing CMO, announced to offer a new bulk lyophilization (freeze drying) service, in order to meet utmost quality in the manufacturing of bulk intermediates and APIs by lyophilization. Moreover, increasing investment in lyophilization is also expected to aid in growth for the market. For instance, in August 2016, Dalton Pharma Services completed an investment of US$ 5 million for expansion of its sterile filling and API manufacturing facility at its current good manufacturing practices (cGMP) facility in Toronto, Canada. This expansion project added three new sterile processing facilities, an API manufacturing facility, and a semi-automated powder filling line with scale-up of lyophilization capacity.
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Major players in the market are focused on approval and launch of new products to expand their product portfolio. For instance, in September 2018, Novartis Pharmaceuticals Corporation received the U.S. Food and Drug Administration approval for its Xolair (omalizumab) prefilled syringe formulation, for the treatment of moderate to severe persistent allergic asthma and chronic idiopathic urticarial. The drug is available in a 150 mg single-dose vial with lyophilized, sterile powder for reconstitution.
Major players in the market are also focused on adopting M&A strategies to expand their product portfolio. For instance, in November 2018, Argonaut Manufacturing Services, a contract development and manufacturing organization (CDMO) serving molecular diagnostic and biopharmaceutical companies, acquired LyoGen LLC to expand its reagent lyophilization capabilities.
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- The global lyophilized drugs market is expected to witness a CAGR of 7.1% during the forecast period (2018–2026)
- Increasing approval and launch of new lyophilized drugs is expected to propel growth of the global lyophilized drugs market over the forecast period
- Major players operating in the global lyophilized drugs market include Sanofi S.A, Merck & Co., Inc., Fresenius Kabi USA, LLC., Ciron Drugs & Pharmaceuticals Pvt Ltd., GlaxoSmithKline plc., Mylan NV., Pfizer, Inc., Amneal Pharmaceuticals LLC, Otsuka Holdings Co., Ltd. (Otsuka Pharmaceutical Co., Ltd.), and BTG Plc.
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