The global lyophilization equipment and services market is estimated to expand at a considerable CAGR during the forecast period, 2021 – 2028. Lyophilization is a process for preserving perishable items and extending their shelf life by removing water content of the items while increasing the convenience of transport. Lyophilization includes a series of functions such as freezing the item, subsequently decreasing the pressure, and supplementing heat to permit the frozen water content to undergo sublimation. Lyophilization allows the direct conversion of ice from solid to vapor without transitioning it into the liquid state. The process can be concisely summed up as freezing, sublimation, and desorption. Lyophilization helps to simplify aseptic handling and enhancing dry powder stability.
The report on the global lyophilization equipment and services market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
Attributes | Details |
Base Year | 2020 |
Historic Data | 2018–2019 |
Forecast Period | 2021–2028 |
Regional Scope | Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage | Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Tray-style freeze dryers growing at a substantial CAGR
On the basis of technology, the market is categorized into tray-style freeze dryers, manifold freeze dryers, and rotary freeze dryers. The tray-style freeze dryers’ segment is anticipated to witness significant growth during the forecast period. This can be attributed to the versatility of tray-style freeze dryers and their ability to dry the items using different types of containers. Factors such as capability of in-bulk for long-term storage, mounting demand for freeze dried items, and fast producing capacity are the key factors that drive the segment growth.
Pharmaceutical & biotech manufacturing segment to hold sizeable market share
In terms of applications, the global lyophilization equipment and services market is segmented into food processing & packaging, pharmaceutical & biotech manufacturing, and medical applications. The pharmaceutical & biotech manufacturing segment is anticipated to register considerable growth during the forecast period. This can be attributed to the growing use of freeze-drying technology to convert aqueous solutions into final dry products and stabilizing needs to prolong shelf life of biotech products.
North America holds a significant share of the global market
Based on regions, the market can be classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America holds a significant share of the global market and is estimated to dominate the market during the forecast period. This is mainly due to rise in the research & development activities accompanied by the increasing adoption of biological products and approval of biologics.
Major players in the global lyophilization equipment and services market includes Azbil Corporation, GEA Group, Harvest Right, Hof Enterprise Group, Industria Macchine Automatiche S.P.A, Labconco Corporation, Martin Christ Gefriertrocknungsanlagen GmbH, Millrock Technology Inc., Optima Packaging Group GmbH, and SP Industries Inc.
Several companies have adopted research and development as a business strategy tool to withstand the competition along with expansions, joint ventures, acquisitions, and others to increase their market share. The strategies are aimed at providing better quality and new features to customers.
Major players in the global lyophilization equipment and services market includes Azbil Corporation, GEA Group, Harvest Right, Hof Enterprise Group, Industria Macchine Automatiche S.P.A, Labconco Corporation, Martin Christ Gefriertrocknungsanlagen GmbH, Millrock Technology Inc., Optima Packaging Group GmbH, and SP Industries Inc.
Several companies have adopted research and development as a business strategy tool to withstand the competition along with expansions, joint ventures, acquisitions, and others to increase their market share. The strategies are aimed at providing better quality and new features to customers.
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