Lyophilization Service Market Growth banking on Swift COVID-19 Drug & Vaccine Development Efforts
Re-inclining infection curves across prominent geographies is elevating the need to develop vaccines on a priority basis, elevating the demand for free drying services and procedures
Fact.MR, Rockville MD: Fact.MR’s ongoing global lyophilization service market study forecasts robust growth prospects for 2021, as the international healthcare fraternity prepares to dole out the COVID-19 vaccine. Lyophilization services have become especially important to free dry and preserve potential vaccine formulations to be administered at a later date. With the global vaccination campaign acquiring momentum, growth is only expected to elevate, yielding significant gains in the long-run.
As per the World Health Organization’s estimates, there are a total of over 124 million confirmed cased of COVID-19 as of March 2021, with nearly 3 million fatalities and over 400 million vaccine dosages being administered. Such trends are only serving to fuel adoption of lyophilization services on an increasing scale. Moreover, the organization’s Access to COVID-19 Tools Accelerator (COVAX) Facility has immensely helped key service providers offer proper facilities for storage.
As more pharmaceutical companies introduce their vaccine candidates, the market looks to experience a major incline. Global drugs and vaccine development as of March 2021 surpassed the 1,100 mark, with prominent American company ImmunoPrecise Antibodies and UK-based GlaxoSmithKline ranking second among companies worldwide, with AstraZeneca and BioNTech leading the show.
“As the coronavirus pandemic experiences a resurgence in certain regions, pharmaceutical companies are fast tracking their drug and vaccine development schedules, calling for quicker regulatory approvals, thereby stimulating demand for lyophilization services,” comments the Fact.MR analyst.
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Key Takeaways from Fact.MR’s Lyophilization Services Market Study
- By application, vaccine lyophilization services are expected to witness a major upswing
- Pharmaceutical companies are expected to emerge as the primary end-users of lyophilization services, owing to constant R&D for the COVID-19 vaccine
- US to emerge as a highly opportunistic market, driven by existing lyophilization service frameworks
- UK to witness elevated growth prospects, primarily for vaccine freeze drying operations
- Germany to immensely benefit amid a robust presence of regional level service providers
- Heightened healthcare infrastructure spending to elevate lyophilization service provision across India and China
Lyophilization Services Market- Prominent Drivers
- Increasing production of injectable drugs is primarily fueling lyophilization services demand to prolong lifespans
- Heightened effectiveness by ensuring dosing precision is likely to fuel future lyophilization service offerings
- Lyophilization services soliciting is likely to occur through contract manufacturers in the long-run
Lyophilization Services Market- Key Restraints
- Mechanical errors such as overheating, vapor choking and condenser overload can potentially damage drug formulations
- Entry of unscrupulous service providers may heighten the risk of sub-standard service provision
Discover more about the lyophilization services market with figures and data tables, along with the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/3987/lyophilization-services-market
Some of the key players operating in the global lyophilization services market include Biolyph LLC, Attwill Medical Solutions, Alcami Corporation, AMRI, Goodwin Biotechnology Inc., Lyophilization Technology Inc., Celsus Laboratories Inc. and MME Group Inc. among others.
Biolyph LLC, a prominent face in the global lyophilization market, offers the LyoSphereTM range of microliter aliquots, comprising of liquids which have been lyophilized as a precise and durable sphere to be packaged inside virtually any device awaiting rehydration. It is highly suitable for packaging screw cap tubes, multi-well plates, clinical chemistry rotors and a host of other medical equipment.
In March 2018, Lyophilization Technology Inc. incorporated new designs into its negative pressure isolators (NPIs) which are custom fabricated, comprising of two separate sections constructed of vinyl sheets using lap seam sealing to provide optimal seal integrity.
More Insights on the Lyophilization Services Market
The research study on the lyophilization services market by Fact.MR includes an in-depth analysis of major demand-driving factors and trends and a comprehensive evaluation of crucial aspects that are projected to carve the growth of the market. Market statistics have been elucidated based on application (antibiotics, bacteria, vaccines, hormones, vitamins, liposome, liver extracts, radio-immuno assays, plasma fractions and antibodies) and end user (pharmaceutical companies, research institutes and private laboratories) across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).
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