The global freeze drying equipment market held a market value of US$ 2,118 Million in 2021 and is forecasted to reach US$ 3,346.08 Million by the year 2027. The market is anticipated to register a CAGR of 8.1% over the projected period. The market volume is projected to reach about 575,750 Units by 2027.
Freeze drying equipment also known as lyophilization equipment helps in the water removal process, typically adopted for the preservation of perishable goods. It extends the shelf life and prepares material for transportation. The market is anticipated to be driven by the rising demand for freeze-drying of new biologic drugs and injectable formulations. Furthermore, the increasing contract manufacturing & lyophilization services, coupled with the rising adoption of freeze-drying technology for delicate and sensitive materials of high value are also expected to boost the market growth.
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Despite the driving factors, stringent government regulations & policies coupled with the high cost of the freeze-drying technique are estimated to negatively hamper the market growth. The rising utilization of alternative drying techniques, especially in the pharma and biotech sector is also expected to restrain the market growth. During the COVID-19 pandemic, the market experienced a negative impact due to challenges in the supply chain and manufacturing.
Growth Influencers:
Increasing demand for freeze-drying of new biologic drugs and injectable formulations
Biologics are complex and need to be processed as well as stored under strict quality control guidelines. They need specialized conditions for preserving the integrity of the drug’s activity. According to an article by PCI Synthesis, as of August 2019, about 16% of the top 100 drugs are lyophilized. As per the same source, the percentage of lyophilized biological drugs is more than 35%. Such rising demand for freeze-drying of new biologic drugs and injectable formulations is expected to boost market growth.
Increasing contract manufacturing and lyophilization services
Lyophilization services are adopted by biopharmaceutical companies for keeping their APIs and drugs sterile. Also, these companies adopt 2 ways for bringing their drugs to market. One of these ways is contract manufacturing. Contract manufacturing organizations require freeze-drying equipment for the transportation of the drugs. Therefore, the rising adoption of lyophilization services and contract manufacturing organizations is expected to boost market growth.
Segments Overview:
The global freeze drying equipment market is segmented the equipment type (form factor), scale of operation, capacity, and application.
By Equipment Type (Form Factor),
- Bench-top freeze-dryers
- Tray-style freeze dryers
- Manifold freeze dryers
- Rotary freeze dryers
- Mobile freeze dryers
- Parts & Accessories
The tray-style freeze dryers segment is anticipated to hold the largest share of about 37% owing to the increasing demand for contract lyophilization and manufacturing services. The parts & accessories segment is expected to grow at the fastest CAGR of around 8.2%.
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By Scale of Operation,
- Industrial freeze dryers
- Commercial freeze dryers
- Laboratory freeze dryers
- Pilot-scale freeze dryers
The industrial freeze dryers segment is expected to hold the largest market share and is expected to surpass a volume of 314,000 units by 2025. This is because of the high standard of quality provided by the industrial-scale lyophilization equipment. The laboratory freeze dryers segment is estimated to witness the fastest growth rate of around 9.1% during the forecast period.
By Capacity,
- < 10 kg
- 10-150 kg
- 150-500 kg
- 500-1000 kg
- >1000 kg
The < 10 kg segment is expected to hold a market value of USD 200 million in 2020. The 10-150 kg segment is estimated to witness the fastest growth rate of around 9.6%. The 150-500 kg segment is anticipated to surpass a market volume of 184,000 by 2023.
By Application,
- Biotechnology
- Chemicals & Pharmaceuticals
- Food Processing and Packaging
- Dairy
- Vegetable & Meat
- Nutraceuticals
- Other Farm & Agri products
- Healthcare/ Medical
- Others (Research, Preservation)
The biotechnology segment is expected to hold a market volume of 52,132 units in 2020. This is due to the high demand for freeze-drying equipment by biotechnology companies. Within, the food processing and packaging segment, the other farm, and Agri products segment is estimated to witness a growth rate of 11%.
Regional Overview
Based on region, the global Freeze Drying Equipment market is divided into Europe, North America, Asia, Middle East & Africa, and South America.
Asia consists of China, Japan, India, South Korea, Southeast Asia, and the Rest of Asia. The region is expected to hold the largest market share owing to the presence of a large number of contract manufacturing organizations, especially in India. Southeast Asia consists of Malaysia, Indonesia, Singapore, Thailand, Vietnam, the Philippines, and the rest of southeast Asia. The Malaysia region is expected to surpass a market volume of 2500 units by 2024.
The European market is expected to hold the second-largest market share owing to the presence of major market players in the region. The region consists of the UK, Germany, France, Italy, Spain, Russia, and the Rest of Europe. The UK region held a market value of over USD 44 million in 2020 and France witnessed a growth rate of 8.4% during the forecast period.
The North American region consists of the United States, Canada, and Mexico. The Middle East & Africa region consists of Saudi Arabia, UAE, South Africa, and the Rest of the MEA. The South American region consists of Argentina, Brazil, and the rest of South America.
Competitive Landscape
Key players operating in the global Freeze Drying Equipment market include Azbil Corporation, Biopharma Process Systems Ltd., BÜCHI Labortechnik AG, Cryotec Fr, Cuddon Freeze Dry, Freeze Drying Systems Pvt. Ltd, Freezedry Specialties, Inc., GEA Group, HOF Enterprise Group, Industria Macchine Automatiche S.p.A., Labconco Corporation, Lyophilization Systems Ltd., MechaTech Systems Ltd., Millrock Technology, Inc., OPTIMA Packaging Group GmbH, Scala Scientific B.V., SP Industries, Inc., Tofflon Science and Technology Co. Ltd, Zirbus Technology GmbH, and other such prominent players.
The approximate market share of the top 5 players is near about 35%. These market players are involved in collaborations, mergers & acquisitions, and new product launches to strengthen their market presence. For instance, in March 2021, GEA refrigeration technologies opened its new service branch in Patterson, California, the U.S. the company aimed at enhancing its customers’ experience through this service center.
The global Freeze Drying Equipment market report provides insights on the below pointers:
- Market Penetration: Provides comprehensive information on the market offered by the prominent players
- Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
- Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
- Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global Freeze Drying Equipment market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
- Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The global Freeze Drying Equipment market report answers questions such as:
- What is the market size and forecast of the Global Freeze Drying Equipment Market?
- What are the inhibiting factors and impact of COVID-19 on the Global Freeze Drying Equipment Market during the assessment period?
- Which are the products/segments/applications/areas to invest in over the assessment period in the Global Freeze Drying Equipment Market?
- What is the competitive strategic window for opportunities in the Global Freeze Drying Equipment Market?
- What are the technology trends and regulatory frameworks in the Global Freeze Drying Equipment Market?
- What is the market share of the leading players in the Global Freeze Drying Equipment Market?
- What modes and strategic moves are considered favorable for entering the Global Freeze Drying Equipment Market?
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