Dublin, March 15, 2023 (GLOBE NEWSWIRE) -- The "Lyophilization Equipment Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering.
The lyophilization equipment market is expected to grow at a CAGR of 7.05% over the forecast period to reach US$3269.120 million by 2027 from US$2028.620 million in 2020.
The growing technological advancements in lyophilization equipment coupled with the rapid increase in the productivity of the food & beverage and pharmaceutical sectors has increased the scale of lyophilization, thereby simultaneously increasing the consumption scale of lyophilization equipment.
For instance, according to the data provided by the United States Department of Food and Agriculture, in October 2022, the cold storage stock for beef, broiler, and other chicken items in the US stood at 1,349.35 million pounds which showed an increase of 17.6% in comparison to the stock volume in 2021 for the corresponding month.
Based on the technology, the lyophilization equipment market is segmented into manifold freeze dryers, rotatory freeze dryers, tray-style freeze dryers, and others. The tray-style freeze dryers are expected to grow at a significant rate during the forecast period of the lyophilization market. The specialty of these freeze dryers is that they provide instant quick drying of the products by performing bound water removal and unbound water removal freeze drying.
Owing to their rich performance benefits, they find high applicability in major end-users of lyophilization equipment such as pharmaceuticals and food & beverage. Furthermore, continuous advancements are being made to provide a more effective and innovative tray-style dry freezer for preserving pharmaceutical drugs, vaccines as well as processed food and & beverages items.
The end-use application of lyophilization in pharmaceutical and biotechnology will occupy a significant market share owing to the high applicability of lyophilization equipment for preserving biopharmaceutical drugs, vaccines, and other antibiotic drugs. The extensive use of lyophilization equipment in the pharmaceutical sector is one of the major contributing factors driving its market growth. Lyophilization equipment enables drug developers to extend the shelf life of a drug without affecting its quality, it also enables drugs to be easily transferred without being degraded.
Lyophilization equipment is majorly used in preserving protein-based drugs and injectable vaccines as they are very sensitive and tends to undergo several changes owing to fluctuations in storage conditions. With the growing instances of various immunological and metabolic diseases, the demand for protein-based drugs has increased, owing to which various pharmaceutical companies are establishing major collaborations with one another for new product innovation of protein-based drugs.
For instance, in February 2022, Interprotein Corporation and SPERA PHARMA Inc. entered into a strategic collaboration that aims at the research & development and commercial manufacturing of peptide and novel small molecules pharmaceuticals products for various major health diseases.
Furthermore, in February 2022, AMGEN announced its collaboration with Plexium Inc. where the two companies will research and develop new protein therapeutics agents for the treatment of cancer along with other serious diseases. Owing to such strategic collaboration for introducing new types of protein-based drugs in the market, the demand and usage of lyophilization equipment are also expected to increase, thereby boosting the market growth during the forecast period.
The high material cost of the lyophilization equipment and high degree of expertise requirement coupled with stringent government regulations such as regulations by the US Food and Drug Administration can hamper the market growth of the lyophilization equipment during the forecast period.
Market Developments:
- In February 2022, Lyophilization Technology Inc. launched its new innovative lyophilization processing products in dual-chamber syringes and cartridges. The equipment provides a wide variety of product processing ranging from biologics such as a vaccine, and proteins to small molecules.
- SP Scientific Products, in June 2021, launched its SP Hull LyoStar 4.0 R&D pilot-scale lyophilizer equipped with Process Analytical Technology tools and provide improved shelf mapping, reliability, process accuracy, and superior shelf freezing.
Market Segmentation:
By Technology
- Manifold
- Rotatory
- Tray-Style
- Others
By Accessories
- Vacuum System
- Clean-in-Place System
- Drying System
- Others
By Application
- Food Processing
- Packaging
- Medical Application
By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Others
- Middle East and Africa
- Saudi Arabia
- Israel
- United Arab Emirates
- Others
- Asia Pacific
- China
- Japan
- South Korea
- India
- Indonesia
- Thailand
- Taiwan
- Others
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 146 |
| Forecast Period | 2020 - 2027 |
| Estimated Market Value (USD) in 2020 | $2028.62 million |
| Forecasted Market Value (USD) by 2027 | $3269.12 million |
| Compound Annual Growth Rate | 7.0% |
| Regions Covered | Global |
Key Topics Covered:
1. INTRODUCTION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
5. LYOPHILIZATION EQUIPMENT MARKET BY TECHNOLOGY
6. LYOPHILIZATION EQUIPMENT MARKET BY ACCESSORIES
7. LYOPHILIZATION EQUIPMENT MARKET BY APPLICATION
8. LYOPHILIZATION EQUIPMENT MARKET BY GEOGRAPHY
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
10. COMPANY PROFILES
Companies Mentioned
- OPTIMA Packaging Group GmbH
- Millrock Technology, Inc
- SP Industries Inc.
- Azbil Corporation
- GEA Group Aktiengesellschaft
- Lanconco
- Martin Christ Gefriertrocknungsanlagen GmbH
- Hof Enterprise Group
- ZIRBUS Technology ZmbH
- Lyophilization Technology Inc.
For more information about this report visit https://www.researchandmarkets.com/r/s7fy8f
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
