Lyophilization Equipment and Services Market 2023 | Overview by Leading Key Players: AZBIL CORPORATION, GEA GROUP, HOF ENTERPRISE GROUP, LABCONCO, MILLROCK TECHNOLOGY

Global Lyophilization Equipment and Services Market Highlights
The lyophilization equipment and services market is expected to register a CAGR of about 8.5%, during the forecast period, 2018 to 2023. Lyophilization, also known as freeze-drying, is a process used for preserving biological material by removing the water from the sample, which involves first freezing the sample and then drying it, under a vacuum, at very low temperatures. APAC to dominate the market, due to growing amount of packaging industries in this region that include to usage of Lyophilization Equipment and Services, and the growing amount of investment in R&D in developing nations.

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Rising Demand for Lyophilized Products
Lyophilization is growing rapidly with the growth of biotechnology, but non-biotech products can also benefit. Lyophilized products in biotechnology and pharmaceuticals include injectable solutions, proteins, peptides, and vaccines. The number of such products has been growing steadily. It is expected that approximately 25% of biotechnology and pharmaceuticals products will be lyophilized in the coming future. The growth of the market for lyophilization equipment and services will be driven primarily by the introduction of new products, specifically biologics, such as monoclonal antibodies (MABS) and recombinant proteins. This, along with other factors, like increasing demand for food preservation and technological advancement is lyophilization techniques. This, along with factors, like technological advancements in lyophilization methods will lead to fast growth of the lyophilization equipment and services market in the forecasted period.

Major players –
AZBIL CORPORATION, GEA GROUP, HOF ENTERPRISE GROUP, I.M.A. INDUSTRIA MACCHINE AUTOMATICHE S.P.A., LABCONCO CORPORATION, MARTIN CHRIST GEFRIERTROCKNUNGSANLAGEN GMBH, MILLROCK TECHNOLOGY INC., OPTIMA PACKAGING GROUP GMBH, SP INDUSTRIES, INC. AND TOFFLON SCIENCE AND TECHNOLOGY CO., LTD. amongst others.

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Increasing Utilization of Alternative Drying Techniques in the Pharmaceutical and Biotechnology Industries
Alternative drying techniques for lyophilization, like vacuum foam drying can provide enhanced process and storage stability of bovine serum albumin, and other biotechnologically relevant components. In a recent study the protein protective efficiency of different stabilizers was compared in vacuum foam drying and lyophilization. The results confirmed that vacuum foam drying is short, simple, and industrially economical process for biomolecules preservation. This, along with factors, like failure to meet the CGMP regulatory guidelines and high setup and maintenance cost of freeze drying equipment will lead to a slowdown of lyophilization equipment and services market.

APAC to Witness Considerable Growth in the Forecast Period
Asia-Pacific region held nearly one-third of the global market share, followed by North America with a share of nearly 30%. The highest market share of Asia-Pacific region is due to the presence and expansion of major pharmaceutical and biotechnology companies in these regions, especially in China, Japan, and India. Shift of pharmaceutical companies to this low cost manufacturing region as well as focus of expansion of major market players is the major growth drivers for the lyophilization equipment in this region.

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This release was published on openPR.