Lyophilization Equipment Market drivers of growth analyzed in a new research report

Lyophilization Equipment–Market size is projected to experience significant growth from 2019 to 2025. Rapid expansion of the food processing and pharmaceutical industries will stimulate global lyophilization equipment business growth in the forecast period. Also, growing demand for packaged food items in the U.S. coupled with increasing income levels will drive the market in the coming years. Increasing demand for lyophilized products, growth in contract manufacturing services, and technological advancements in lyophilization techniques will drive the market growth.

Increasing demand for biopharmaceuticals and injectable therapeutics such as monoclonal antibodies, proteins, peptides, enzymes, biologics, and vaccines will positively impact industry growth in the coming years. Additionally, free drying or lyophilization is the most preferred method to stabilize live, attenuated vaccines. Also, according to the research conducted by Martin Christ GmbH, approximately 60% of the biopharmaceutical products require lyophilization for attaining effective results in clinical trials, thus leading to market growth in the future.

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However, the high cost of setup and maintenance of equipment may restrain the lyophilization equipment market growth. Furthermore, stringent government regulations may limit product approvals, thereby hampering the lyophilization equipment market growth.

Tray-style freeze dryers segment will hold a significant revenue size over the forecast years due to its extensive applications such as rapid freezing, maximum capacity in the preservation of food, high quality and handling friendly design, large volume freezing, and energy efficiency. Additionally, various technological advancements will boost the segment growth. For instance, RevoPro, a laboratory tray styled freeze dryer is available with one to five shelves with a maximum capacity of storage. Various advantages associated with tray-style freeze dryers will significantly boost market growth.

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Industrial-scale free dryers market is expected to witness significant growth over the forecast period. These freeze dryers are extensively used in food processing techniques, preserving daily nutritional supplements or nutraceuticals, and preserving blood serum products. The equipment is widely used in large scale industries due to its high performance and efficiency applications. These applications are expected to drive the adoption of lyophilization industrial-scale free dryers over the projection timeframe.

Biotechnology and pharmaceutical manufacturing segment will show momentous growth owing to the availability of safe, beneficial and improved lyophilization equipment and its extensive usage to preserve biological products such as proteins, enzymes, vaccines, viruses & bacteria, and penicillin. Growing infrastructure to provide quick therapy transitions and favorable reimbursement policies will offer growth opportunities to drive the segmental growth.

North America lyophilization equipment market is estimated to foresee a lucrative market growth over the forecast period due to the presence of major biopharmaceutical companies and increasing investment in R&D activities coupled with supportive government policies. The U.S. based biopharmaceutical market will witness a robust growth of lyophilized based technologies. Also, the favorable regulatory procedures will boost the U.S. lyophilization equipment industry growth over forthcoming years.

Asia Pacific lyophilization equipment market is estimated to witness lucrative growth over the forecast period due to the presence and development of major pharmaceutical and biotechnology companies in these regions, especially in China, Japan, and India. Moreover, rising government investment that supports the R&D activities will accelerate industry growth. For instance, according to the National Bureau of Statistics (NBS), in 2018, research and development (R&D) expenditure by China has increased to 11.6% in 2017 from 10.6% in 2016.

Few of the key companies operating in lyophilization equipment market include GEA Group, Tofflon Science and Technology, Azbil Corporation, SP Scientific and Hof Enterprise. The industry players focus on strategic initiatives such as new product launch and mergers and acquisitions to maintain their market position. For instance, in April 2018, Lyophilization Services of New England (LSNE) acquired PSC Biotech’s Parenteral Manufacturing Facility, an aseptic fill finish manufacturing company to expand its manufacturing facilities and to add new service offerings. This strategy will expand the company’s lyophilization equipment market product portfolio.

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
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This release was published on openPR.