Dublin, Nov. 22, 2024 (GLOBE NEWSWIRE) -- The "Lyophilization Services for Biopharmaceuticals Market Opportunities and Strategies to 2033" report has been added to ResearchAndMarkets.com's offering.
The lyophilization services for biopharmaceuticals market has reported a robust growth trajectory, with an estimated market value of nearly $1.64 billion in 2023. Sustaining a compound annual growth rate (CAGR) of 9.91% since 2018, the market is set to continue its upward trend. Consequent projections suggest an expansion to $2.71 billion by 2028 and an impressive climb to $4.6 billion by 2033, at a CAGR of 11.15% from 2028 onwards.
Drivers and Restraints
The historical period's growth is primarily attributed to several key factors that include a surge in demand for vaccines and antibodies, a heightened focus on personalized medicine, and an overall increase in the demand for pharmaceutical products. While certain challenges such as the potential risk of contamination during lyophilization processes have posed constraints, the future outlook remains positive. Expectations are that escalating global healthcare expenditures, increasing chronic disease prevalence, and the biopharmaceutical industry's growth, coupled with government initiatives and a rise in drug approvals, will fuel the market's continued expansion.
Key Segments and Regional Insights
The market is categorized into various segments, with the commercial manufacturing sector dominating at 35.10% of the segment's market share in 2023. The syringes segment, however, is foreseen as the fastest-growing segment within the primary packaging systems, expected to flourish at a CAGR of 18.63% during the forecast period. By application, pharmaceutical and biotechnology companies led with a 68.64% market share in 2023. Research institutes, nevertheless, are anticipated to be the quickest growing segment, envisioned to expand at a CAGR of 13.62%. The North American region took precedence in market shares, acquiring 34.62% or $570.8 million in 2023. Asia-Pacific and Africa regions are touted as the next fast-growing markets, with substantial growth rates projected for the upcoming years.
Competitive Landscape
The lyophilization services for biopharmaceuticals market is characterized by its fragmented nature, with numerous small-scale players in operation. Despite this fragmentation, the top ten competitors accounted for 24.64% of the market share in 2023. The market seems to be moderately competitive with some players having a slight edge in market share.
Future Opportunities and Strategies
There is an array of emerging opportunities for the lyophilization services for biopharmaceuticals market. The commercial manufacturing segment is forecasted to observe a significant increase in sales, with projections suggesting an increase of $434.8 million by 2028. Similarly, high-income potential is recognized in the vials segment and the pharmaceutical and biotechnology companies segment in terms of global sales. To capitalize on these opportunities, companies in the lyophilization services for biopharmaceuticals should focus on expanding their laboratory freeze dryer capabilities, consider extending their commercial-scale aseptic filling facilities, target growth in the burgeoning syringes market segment, and aim to establish their footprint in emerging markets.
Strategic partnerships and improved freeze-drying infrastructure investments will be critical in enhancing lyophilization service provision. In conclusion, the positive trends and the opportunities outlined in this report indicate a thriving future for lyophilization services in the biopharmaceuticals industry, driven by innovation, strategic expansion, and a deepened focus on advanced production capabilities.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 316 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value (USD) in 2023 | $1.6 Billion |
| Forecasted Market Value (USD) by 2033 | $4.6 Billion |
| Compound Annual Growth Rate | 10.8% |
| Regions Covered | Global |
Companies Featured
- PCI Pharma Services
- OFD LLC (Oregon Freeze Dry)
- Simtra BioPharma Solutions (Baxter)
- Vetter Pharma-Fertigung GmbH & Co. KG
- IDT Biologika GmbH
- Jubilant HollisterStier Inc.
- Curia Global Inc.
- CinnaGen
- CordenPharma
- Ascendia Pharmaceuticals.
- Sartorius Stedim Biotech
- CSL Limited
- Shanghai Shunho Pharmaceutical
- WuXi AppTec
- Lonza Group AG
- Berkshire Sterile Manufacturing
- Great Point Partners
- Lyocontract GmbH
- Emergent BioSolutions Inc.
- Biocorp Polska
- Millrock Technology
- Instrument Specialties Inc.
- Velico Medical
- NJM Packaging Inc.
- Peak and Prairie Industries
- Neolpharma
- Dalton Pharma Services
- BioVectra
- baxter biopharma solutions
- Lyophilization Services of New England (LSNE)
- BioTechnique
- Ajinomoto Bio-Pharma Services
- Thermo Fisher Scientific
- Catalent Pharma Solutions
- Avid Bioservices
- Laboratorios Bagó
- Laboratorio Chile S.A.
- Gador S.A.
- Laboratorio Elea
- Biogénesis Bagó
- Laboratorios Richmond
- Eurofarma Laboratórios S.A.
- Aché Laboratórios Farmacêuticos S.A.
- Cristália Produtos Químicos e Farmacêuticos
- Aryogen Pharmed
- Teva Pharmaceutical Industries Ltd.
- Kamada Ltd.
- Abdi İbrahim Pharmaceuticals
- Neopharma
- Protalix BioTherapeutics
- AstraZeneca
- Red Star Express Plc
- Swift MediSpark.
For more information about this report visit https://www.researchandmarkets.com/r/udmouo
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