SELBYVILLE, Del. - November 12, 2020 - (Newswire.com)
According to the latest report "Lyophilization Equipment Market by Product (Tray Style Freeze Dryers, Manifold Freeze Dryers, Rotary Freeze Dryers), Scale of Operation (Bench Top, Pilot Scale, Industrial Scale), Application (Pharmaceutical, Biotechnology, Biomedical, Food Processing), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026", by Global Market Insights, Inc., the market valuation of lyophilization equipment will cross $9 billion by 2026. Growing demand for lyophilized products, along with the expansion of the pharmaceutical sector, will spur the market growth.
Rising research and development in the biopharmaceutical sector primarily drives demand for lyophilization equipment. Biological products are sensitive to moisture and heat and require specific temperature conditions for storage. Lyophilization techniques cater to these specifications, contributing to the quality and shelf life of the products. The technology helps to preserve the integral structure of samples, assisting researchers in the drug development process. With increasing adoption of freeze-drying techniques in R&D of vaccines and molecules, the market will witness significant revenue.
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Along with pharmaceuticals, lyophilization has wide applications in the food sector. Perishability is a major concern related to food and can be effectively addressed with the lyophilization of food products. Growing urbanization and changing lifestyles has escalated the consumption of preserved food. Increasing use of freeze dryers in preservation will encourage the demand of lyophilization equipment in the food industry.
The manifold freeze dryers segment accounted for over 24% of the lyophilization equipment market share in 2019, owing to the integration of advanced technologies and sensors to obtain highly lyophilized products. These are equipped with vacuum sensors for reading conditions in presence of water vapors.
Bench top lyophilization equipment exceeded more than USD 440 million in 2019. Bench top systems offer economically feasible solutions for a liquid sample of a comparatively small size. The advantage of cost-effectivity and ease in handling associated with these systems will stimulate the segment growth. Escalating research and development activities in pharmaceutical and biotechnology industries further boosts the product adoption in the coming years.
The biotechnology application in the lyophilization equipment market held around a 15% revenue share in 2019. Most of the biotechnology firms are involved in supply of lyo-ready or pre-lyophilized products, which is driving demand for lyophilization in the sector. Benefits associated with products include longer shelf life, simplified product use, reduced refrigerated warehouse requirements, and lower shipping costs. Therefore, extensive applications of lyophilization techniques in development of freeze-dried biological molecules will positively affect the biotechnology segment demand.
Europe's lyophilization equipment market is estimated to register growth of 8.5% till 2026. Growing burden of chronic diseases among elderly population has benefited the pharmaceutical industry in the region. With increase in production and commercialization of drugs and vaccines, lyophilization equipment will also showcase increased demand. Moreover, business expansion of firms operating in the food sector will impel the demand for lyophilized products. Industrial development will stimulate the regional supply of lyophilization equipment.
Major players operating in the lyophilization equipment market are Telstar, GEA group, Labconco, SP Industries, Millrock Technology, Inc. and Scala Scientific among other players. Established leaders are expanding their industry presence by undertaking various strategic initiatives such as augmentation of their product portfolio and collaborations. For instance, in August 2020, SP Scientific announced the partnership with i-Dositecno, an aseptic systems developer firm in Spain. This partnership will allow SP Scientific to offer broad lyophilization product range that will eventually assist in business growth along with the expansion of the customer base.
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Table of Contents (ToC) of the report:
Chapter 3 Lyophilization Equipment Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2015 - 2026
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 Regulatory landscape
3.5 COVID-19 impact analysis
3.6 Comparative analysis of tray, manifold and rotary freeze dryers
3.7 Growth potential analysis
3.7.1 By product
3.7.2 By scale of operation
3.7.3 By application
3.8 Porter's analysis
3.9 Competitive landscape, 2019
3.10 PESTEL analysis
Browse the Complete Table of Contents (ToC) at
https://www.gminsights.com/toc/detail/lyophilization-equipment-market
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision-making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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Original Source: Lyophilization Equipment Market Revenue to Cross USD 9 Bn by 2026: Global Market Insights, Inc.
