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Lyophilization Equipment Market – By Product, By Scale of Operation, By Application, By Industry, Global Forecast, 2024 – 2032.
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Lyophilization Equipment Market
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Premium Report Details
Base Year: 2023
Companies covered: 13
Tables & Figures: 49
Countries covered: 22
Pages: 135
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Lyophilization Equipment Market Size
The global lyophilization equipment market size was valued at around USD 6.4 billion in 2023 and is estimated to grow at 8.7% CAGR from 2024 to 2032. Lyophilization equipment denotes devices used in the process of lyophilization which involves freeze drying. This equipment gets done by withdrawing moisture from perishable products such as drugs, biological as well as food material by first freezing it and then lowering the pressure around the frozen substance with the help of the lyophilization machine which allows the ice present to vaporize directly from a solid state to a gaseous form.
The rising demand for lyophilized products is a key driver of market growth, fueled by the rising prevalence of chronic conditions are the major factors boosting the market growth. With increasing number of people suffering from conditions including diabetes and cardiovascular diseases, the expansion of the lyophilization equipment market seems to be on the rise. Cardiovascular diseases lead the NCDs and account for 17.9 million deaths every year, followed by 9.3 million cancer deaths, 4.1 million chronic respiratory diseases, and 2 million deaths as a result of diabetes-linked conditions such as kidney disease. The rising number of cases worldwide has increased the need for humid and heat resistant pharmaceuticals making the equipment more needed.
Moreover, the increasing global need for freeze dryers substantiates its significance in the biopharmaceutical sector, along with the growing emphasis on pharmaceutical and food industries coupled with the increasing manufacturer's focus on developing products with longer stability.
Lyophilization Equipment Market Trends
Lyophilization Equipment Market Analysis
Based on product, the market is segmented into devices and consumables. The devices segment is bifurcated into tray-style freeze dryers, manifold freeze dryers, and rotary freeze dryers. Further, the consumables segment is segmented into lyoguard trays, manifolds and vial holders/adapters, vacuum pumps, product sensors and temperature probes, pouches, and other consumables. The devices segment dominated the market with the largest revenue of USD 3.4 billion in 2023 and is expected to grow at a significant CAGR over the forecast period.
Based on scale of operation, the lyophilization equipment market is segmented into bench-top lyophilization equipment, pilot-scale lyophilization equipment, and industrial scale lyophilization equipment. The bench-top lyophilization equipment segment of the market, which held a 49.7% share in 2023, is poised for substantial growth in the coming years.
Based on application, the lyophilization equipment market is segmented into autoimmune diseases, respiratory diseases, gastrointestinal disorders, oncology, cardiovascular diseases, infectious diseases, metabolic disorders, and other applications. The autoimmune diseases segment is anticipated to reach USD 985.6 million by 2032, driven by the significant growth in the global healthcare landscape.
Based on industry, the lyophilization equipment market is segmented into pharmaceutical, biotechnology, biomedical, food processing, and other industries. The pharmaceutical segment is anticipated to reach USD 2.7 billion by 2032, driven by the significant growth in the global healthcare landscape.
The North America lyophilization equipment market is forecasted to reach USD 4.4 billion by 2032. The U.S. dominated the North American market with the largest revenue of USD 1.9 billion in 2023.
The lyophilization equipment market in the UK is expected to experience significant and promising growth from 2024 to 2032.
Japan lyophilization equipment market is anticipated to witness lucrative growth between 2024 and 2032.
The lyophilization equipment market in Saudi Arabia is expected to experience significant and promising growth from 2024 to 2032.
Lyophilization Equipment Market Share
The market for lyophilization equipment is regarded as fierce owing to competition from both larger international companies and small to medium size enterprises alike. Key to formulating a good strategy in the market is regular development of new technologies such as modernized energy efficient freeze dryers and new process control features. Key players in the industry play a pivotal role as they tend to facilitate major investments into research and development and drive the industry. Furthermore, market consolidation and expansion activities such as mergers, acquisitions and strategic partnerships are important in realigning to changing regulatory environments while focusing on processes and even sustainability and quality of the products still maintain the industry competitiveness.
Lyophilization Equipment Market Companies
Some of the eminent market participants operating in the lyophilization equipment industry include:
Lyophilization Equipment Industry News:
The lyophilization equipment market research report includes an in-depth coverage of the industry with estimates and forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments:
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Market, By Product
Market, By Scale of Operation
Market, By Application
Market, By Industry
The above information is provided for the following regions and countries: