Lyophilization Equipment and Services Market to Exhibit Strong Growth in the Coming Years

The global lyophilization equipment and services market is progressing at an optimistic CAGR of 8.5% from 2014 to 2020. The market was valued at US$2.73 bn 2013. According to a research report released by Transparency Market Research, if the current pace and expected market trends hold true, this market shall reach US$4.8 bn by the end of 2020. This data is given in a report titled “Lyophilization Equipment and Services Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.”

Lyophilization is a process encountered in the pharmaceutical industry as well as in the manufacturing industry of biotech equipment. The process is used to extend the life span of biological products and samples, including vaccines, proteins, blood plasma, antibodies, and enzymes. These are biological materials that are usually extremely sensitive to external changes.

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According to the TMR report, the global lyophilization equipment and services market currently holds a major driver responsible for its positive growth rate: The increasing risk that pharma companies run regarding the contamination of samples and products. These are often extremely high-value products that are sensitive to external impositions and therefore need a high level of chemical protection. The process of lyophilization itself has undergone several key advancements in terms of technologies used, further boosting this market.

The global lyophilization equipment and services market is also growing due to the increasing number and amounts of commercially available and cost-effective vaccines, due to the growing prevalence of diseases and a growing human population.

The report provides a segmented analysis of the global lyophilization equipment and services market, on the basis of equipment type, services type, applications, and geography.

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In terms of equipment type, the market was segmented into freeze drying microscope, rotary lyophilizers, tray lyophilizers, and bench-top lyophilizers. The market was dominated by tray lyophilizers, which held a share of 45% in 2013.

In terms of applications, the global lyophilization equipment and services market was segmented into nutraceuticals, diagnostics, biopharmaceuticals, and pharmaceuticals. It was dominated by the pharmaceuticals segment in 2013.

In terms of services, the market was segmented into bulk lyophilization, aseptic filling, and cycle development.

The geographical examination of the market reveals Europe as being the dominant region in terms of market share in 2013. This region held the top spot owing to the major and novel advancements in technologies in the region, and a medical industry structure that is conducive to highly active clinical trials.

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About us:
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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This release was published on openPR.