Lyophilization Equipment Market size worth over $9 Bn by 2026
Published Date: November 10, 2020 Authors: Sumant Ugalmugle, Rupali Swain
Lyophilization Equipment Market size is set to surpass USD 9 billion by 2026, according to a new research report by Global Market Insights, Inc.
Growing application and value of lyophilization for preserving various products such as tissues, plasma, pharmaceutical products and food among others will influence the demand for lyophilization equipment in the coming years. Freeze-drying increases the shelf-life of the products, thereby making them easy to store, ship and use. It is an extremely practical solution for several challenges that the biopharmaceutical industry experiences. Thus, with expanding pharma and biotech industry, the adoption of lyophilization equipment is predicted to increase during the forecast timeline.
Innovations in lyophilization equipment will lead to higher product demand
Technological advances in lyophilization equipment will fuel the lyophilization equipment market growth. Innovations are being made in lyophilization equipment to enhance the scalability and quality of end products. The design space of the product also gives a vast opportunity for the companies to reduce the time taken for the process and cost of the equipment. A modern version of lyophilization equipment comprises separate drying chamber and ice condenser to diminish cross-contamination, unlike conventional equipment.
Growing number of laboratories will benefit rotary freeze dryers
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Rotary freeze dryers segment exceeded USD 117 million in 2019. Rotary freezers are widely used in laboratories for aqueous solutions. With increasing research activities and expanding laboratories in emerging economies, the usage of rotary freeze dryers will grow over the coming years.
Browse key industry insights spread across 135 pages with 181 market data tables & 12 figures & charts from the report, “Lyophilization Equipment Market Size By Product (Tray Style Freeze Dryers, Manifold Freeze Dryers, Rotary Freeze Dryers), By Scale of Operation (Bench Top, Pilot Scale, Industrial Scale), By Application (Pharmaceutical, Biotechnology, Biomedical, Food Processing), Industry Analysis Report, Regional Outlook, Industry Analysis Report, Application Potential, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Better flexibility and efficacy of bench top freeze dryers will impel its acceptance rate
Bench top lyophilization equipment segment is expected to witness around 10% growth rate till 2026. These freeze dryers are convenient, efficient and are suitable for laboratories and small-scale facilities. Furthermore, incorporation of advanced features in benchtop lyophilization equipment will boost customer preference.
Rising demand for blood and plasma products will accelerate the usage of lyophilization equipment in biomedical industry
Biomedical application held for around 10.5% of the lyophilization equipment market share in 2019. Lyophilization method helps in preserving biologics at very low temperature and for long period of time. Its application majorly includes freeze drying of vaccines, plasma products, blood and its components, etc. Growing demand for plasma and its products in therapeutics and regenerative medicine will subsequently spur lyophilization industry size during the forecast period.
Presence of prominent industry players in Europe will help to cater to growing demand for lyophilization equipment
Europe lyophilization equipment market accounted for more than 31% of revenue share in 2019. Expanding pharmaceutical research and manufacturing sector will significantly impact the adoption rate of lyophilization equipment. Also, the booming food industry will augment the equipment demand. Moreover, prominent presence of major industry leaders such as Telstar, GEA Group and Sonderanlagenbau GmbH among few others in the region will assist market expansion.
Companies are seeking product advancements to drive their product portfolio
Some of the notable participants involved in the market are Labconco, Telstar, SP Industries, GEA Group, Buchi, Optima Pharma, and Scala Scientific and Optima Pharma. These players have undertaken few strategies such as product innovations and launch to expand their market foothold.
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