The lyophilization services for biopharmaceuticals market was valued at US$ 702.06 million in 2019 and is projected to reach US$ 1,456.74 million by 2027; it is expected to grow at a CAGR of 9.7% from 2020 to 2027.
Lyophilization involves freeze drying of products. In pharmaceutical industries this process is widely used to increase the self-life of antibiotics, vaccines, and protein based drugs. Biopharmaceutical companies are using lyophilization services to keep APIs and drugs sterile. Focus towards enhanced manufacturing practices is increasing the demand for lyophilization services. The growing importance of lyophilization services in biopharmaceuticals market is attributed to the factors such as rising demand for lyophilized products and rapid growth in contract manufacturing and lyophilization services across the world. However, the market is likely to get impacted by the demerits associated with lyophilization process such as leakage during filling, during the forecast period.
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Lyophilization Services for Biopharmaceuticals Market Competition Landscape and Key Developments: ATTWILL Medical Solutions, Axcellerate Pharma LLC., AB BioTechnologies, Inc., Berkshire Sterile Manufacturing, Inc., Emergent BioSolutions, LSNE Contract Manufacturing, Albany Molecular Research (AMRI), Lyophilization Technology, Inc., Jubilant HollisterStier LLC, Biofortuna Ltd, Synerlab Group
Rapid Growth in Contract Manufacturing
The market for biopharmaceuticals continues to expand worldwide, and they have been the primary growth driver for the pharmaceutical industry. Biopharmaceuticals will continue to provide a significant growth for the pharmaceutical market during the next five years. Biopharmaceutical parenteral manufacturing has expanded in recent years as more therapeutic biologics have been approved for the market. Biotechnology companies continue to outsource to contract manufacturing organizations (CMOs) as a way to meet their fill-and-finish needs and reduce risk. Biopharmaceutical companies are depended on contract manufacturing organizations (CMOs) to provide capacity and capabilities as per need; in some cases, CMOS provide a great deal of company’s production.
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