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Global Lyophilization Equipment and Services Market by Applications, Equipment, Service Type in 2020
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The global lyophilization equipment and services market is predicted to touch US$4,805.4 mn by 2020. In terms of equipment type, the segment of tray lyophilizers is predicted to lead the market all through 2020. The demand for this segment is on the rise owing to longer service life, corrosion resistance, ease of handling, optimum performance, and compact designs of tray lyophilizers. This segment is predicted to rise at a CAGR of 8.20% from 2014 to 2020.
Strong Demand for Lyophilization Equipment from Nutraceuticals to Drive Market Growth
By service type, bulk lyophilization segment held the leading share in the past and is predicted to maintain its superiority all through 2020. This is owing to large production capabilities associated with the use of bulk lyophilization service. Application-wise, there is a substantial demand for lyophilization equipment from the segment of nutraceuticals and this segment is predicted to expand at a CAGR of 8.60% between 2014 and 2020. There is an increasing demand for lyophilization equipment and services in both Europe and North America owing to the rising research activities in these two regions.
A number of biopharmaceuticals including biologics, peptides, enzymes, plasma, proteins, vaccines, and antibodies experience a huge demand owing to their high employment in life-saving medications. All these products undergo a number of chemical reactions such as aggregation, fragmentation, hydrolysis, etc., hence reducing their overall biological activity and resulting in degraded products. Thus, these substances are lyophilized for manufacturing high-quality products, hence boosting the growth of the lyophilization equipment and services market.
Growth in Contract Services Market to Increase Adoption of Lyophilization Equipment and Services
Furthermore, the cost and time reduction and an exponential product commercialization have fuelled the overall market for contract services. This has further enabled the manufacturers operating in nutraceuticals, biopharmaceuticals, and pharmaceuticals to outsource expensive procedures including lyophilization equipment and services, thus fuelling the growth of the overall market, stated TMR.
On the other hand, the process of lyophilization is immensely labor-intensive and costly and demands adept manpower for delivering high-quality products. In addition, the installation of freeze drying microscopy lab may incur substantial cost owing to the employment of components such as polarized-light microscope, liquid nitrogen-cooled thermal stage, imaging system, and , vacuum pump. Hence, the huge cost of installing a well-organized lyophilization facility may raise the cost of services. This factor may impede the development of the overall lyophilization equipment and services market, says a TMR analyst.
Nonetheless, the introduction of newer technologies such as precipitation, deep freeze drying, and vacuum freeze drying is a key opportunity in the market, Transparency Market Research (TMR) finds in its new study.
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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