Selbyville, Delaware, Sept. 25, 2019 (GLOBE NEWSWIRE) --
Germany accounted for 27.4% revenue share of Europe lyophilization equipment market in 2018. Presence of major market players and well-established research and development facilities will increase the overall demand of freeze-drying equipment in the country. Rising demand of freeze-dried products including lyophilized drugs will support the business growth over the coming years.
Pharmaceutical segment accounted for over USD 1.3 billion in 2018. The rising demand of protein-based drugs coupled with increased freeze drying of active pharmaceutical ingredients (API) will drive the segmental growth. Bulk drying of API is performed through the process of lyophilization in order to achieve the chemical stability of active pharmaceutical ingredients that will positively impact the industry growth. Increasing demand of bio pharmaceutical drugs such as Infliximab, Rituximab and Etanercept will further lead to industry expansion over the forecast timeframe.
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Tray style freeze dryer segment accounted for USD 3.6 billion in the year 2018. This type of lyophilizer plays a vital role in long-term storage of labile drugs and vaccines. It facilitates both primary as well as secondary drying in order to produce high stability products with longer shelf life. Tray style freeze dryers can perform freeze drying in large quantities, in containers or in vials. Thus, cumulative demand for packed and frozen products worldwide will spur the growth of tray style freeze dryer market.
Global Lyophilization Equipment Market is poised to cross USD 8.5 billion by 2025; according to a new research report by Global Market Insights, Inc. Lyophilization equipment is widely used in improving the long-time stability of the products that will propel the equipment sales over the foreseeable period. Growing demand of preserved food and freeze-dried products are the key factors driving the growth of the lyophilization equipment market. In addition, rapid expansion of pharmaceutical industry has bolstered the market growth.
Increasing focus on development of biopharmaceuticals including protein-based drugs is encouraging pharmaceutical manufacturers to develop innovative products through freeze drying. Increased adoption of aseptic packaging in the pharmaceutical and food industries has further augmented the growth of the industry. The growing need for longer shelf life and higher stability of pharmaceutical products has broadened the market prospect of freeze-drying industry.
Browse key industry insights spread across 130 pages with 91 market data tables & 9 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 (U.S., Canada, UK, Germany, France, Spain, Italy, The Netherlands, China, India, Japan, Australia, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE), Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/lyophilization-equipment-market
However, high maintenance and set up cost of freeze dryer may restrict the growth of the market. The requirement of skilled workforce to operate complex machineries will also act as one of the hurdles for small and medium scale industries.
Industrial scale lyophilization equipment market is estimated to grow at 8.2% over the projection timeframe. The high growth can be attributed to extensive use in pharmaceutical and food industry along with the high efficiency of lyophilization equipment. Industrial scale freeze dryers are widely used in large scale industries for mass production of freeze-dried products. In addition, growing use of freeze dryers in biotechnology industry will further boost the segmental revenue.
China lyophilization equipment market will expand at 9.9% CAGR during the forecast period. Growing awareness regarding benefits of lyophilized products will result in substantial growth of China freeze dryer market. Currently, lyophilization is the standard procedure to store and stabilize drugs efficiently in the country, thus the development of pharmaceutical and biotechnological industries will stimulate the demand of lyophilization equipment during the analysis period.
Telstar, GEA group, Labconco, SP Industries, Optima Pharma, Buchi, HOF Sonderanlagenbau GmbH, Millrock Technology, Inc. and Scala Scientific are few of the major players functioning in the global lyophilization equipment market. New product launch and strategic alliances are the key business strategies implemented by these firms to strengthen their market position and achieve significant market share. For instance, in April 2019, Telstar launched a new compact GMP production freeze dryer providing conventional workspace with 20% lesser than a standard freeze dryer to fulfil consumer demand for compact freeze-drying systems.
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