Lyophilization Equipment and Services Market - Global Growth, Trends, and Forecast 2019-2024 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 20, 2019--
The “Lyophilization Equipment and Services Market - Growth, Trends, and Forecast (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.
The market for lyophilization equipment and services is being driven by factors such as rising demand for lyophilization products and technological advancements in the same.
In the past few years, the number of biopharmaceuticals being developed and manufactured increased significantly. Moreover, the rising demand for aseptic packaging and preservation, as well as the increase in the production of protein-based drugs is expected to boost the demand for freeze-drying. Thus, the pharmaceutical manufacturers and equipment suppliers are moving toward an array of advanced process analytical technologies (PAT) to help optimize their freeze-drying operations.
In the case of the biologics, the formulation and storage in aqueous solution result in instability. Lyophilization can help to improve their long-term stability. The process of lyophilization is a complex and multistep process that requires a sound understanding of both the product and the process-related attributes to ensure higher operational efficiency and consistency in producing acceptable final products.
As most of the food and pharmaceutical products could not be commercially viable without lyophilization, their usage is inevitable. Hence, there is a rising demand for lyophilized products, which is expected to create tremendous growth opportunities for the lyophilization equipment and services market, over the forecast period.
Scope of the Report
Lyophilization is a freeze-drying process that removes water from a product after it is frozen and placed under a vacuum. This is in contrast to dehydration by most conventional methods that make water evaporate using heat.
Key Market Trends
Tray-Style Freeze Dryers are Believed to Register a Healthy CAGR Over the Forecast Period
The rotary and tray freeze-dryers have a single large reservoir for dried substance. Tray style freeze-dryers usually have a rectangular reservoir with shelves, on which products, such as pharmaceutical solutions and tissue extracts, can be placed in trays, vials, and other containers.
The tray-style freeze dryers are typically more sophisticated, compared to the manifold dryers. These dryers are used to dry a variety of materials and to produce the driest product for long-term storage.
The major advantage of Tray freeze-dryers is that it can dry products in bulk or in vials or other containers. Furthermore, improved freeze-drying techniques are being developed to extend the range of products that can be freeze-dried, to improve the quality of the product, and to produce the product faster with less labor.
For instance, recently one of the market players, GEA, launched new RAY PP (Pilot Plant) batch freeze dryers during Anuga FoodTec in Cologne. This equipment is designed for small-scale and R&D drying of general food products, as well as very sensitive products, such as lactic acid bacteria, enzymes, and lactoferrin.
Thus, owing to all above-mentioned factors, the market is expected to register healthy growth over the forecast period for this particular segment.
North America to Dominate the Market in Coming Future
The major factors driving the growth of the lyophilization equipment and services market in North America include an increase in the research and development activities and the rising approval of biological products. In the North America region, the major market players are teaming up with academic institutes to develop and transform the freeze-drying process, also called lyophilization. For instance, in 2018, the Purdue University researchers and industry leaders are teaming up to transform the process of lyophilization.
Furthermore, the rising approval of biologics in the United States is expected to increase the overall demand of the lyophilization equipment’s over the forecast period, resulting in a steady growth of the market. In 2018, there was 11 mAb approved, which account for almost 20% of all the drugs authorized by the FDA in 2018.
Thus, owing to all above-mentioned factors, the market is expected to witness a high growth rate over the forecast period.
The market for lyophilization equipment and services is moderately competitive with most of the local companies having a prominent share. Due to the rising demand for these products, several new companies are coming up in the market and they are expected to hold a substantial share in the near future.
Porter’s Five Force Analysis
For more information about this report visit https://www.researchandmarkets.com/r/b8ooi5
View source version on businesswire.com:https://www.businesswire.com/news/home/20191220005220/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
INDUSTRY KEYWORD: TECHNOLOGY CHEMICALS/PLASTICS HARDWARE MANUFACTURING
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 12/20/2019 06:37 AM/DISC: 12/20/2019 06:37 AM