Freeze-Drying Equipment Market Growing at a CAGR of 8.2% – Loss of Patent Protection of Several biologics

The report Freeze-Drying Equipment Market by Type (Tray, Shell, Manifold), Scale of operation (Industrial, Lab, Pilot), Application (Food, Pharma & Biotech), Accessories (Loading & Unloading, Monitoring, Vacuum Systems, Drying Chambers) – Global Forecast to 2025″, the global freeze-drying/lyophilization equipment market is projected to reach USD 7.3 billion by 2025 from USD 4.9 billion in 2020, at a CAGR of 8.2% from 2020 to 2025.

Opportunities: Loss of patent protection of several biologics;

The biologics market is one of the major contributors to the growth of the freeze-drying market in the healthcare industry. Biosimilars are expected to drive the growth of the biotechnology industry in the next decade. This is because several key biologics are expected to lose their patent in the coming years.

An increasing number of biosimilars are being developed in the market as a cost-effective alternative for biopharmaceutical medications for chronic disorders. The growing R&D and emergence of biosimilars will drive the market for the lyophilization of biologics and biopharmaceutical products. In recent years, over 30% of US FDA-approved parenterals were lyophilized drugs. Soon, more than half of all injectable drugs will require lyophilization, which will further create the demand for lyophilization solutions in the pharmaceutical industry.

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The tray-style freeze dryers segment accounted for the largest market share in 2019.

Based on type, the lyophilization equipment market is classified into tray-style freeze dryers, manifold freeze dryers, and shell (rotary) freeze dryers. In 2019, the tray-style freeze dryers segment accounted for the largest share of 72.1%. This segment is also estimated to grow at the highest CAGR of 8.2% during the forecast period. Growth in this market is largely driven by factors such as the increasing demand for contract manufacturing and contract lyophilization services in the pharmaceutical industry, the growing commercialization of labile drugs, and the rising demand for freeze-dried food products. Tray-style freeze dryers are also larger than manifold and rotary freeze dryers, enabling them to dry products in bulk.

The industrial-scale lyophilization equipment segment accounted for the largest market share in 2019.

Based on scale of operation, the freeze-drying market is segmented into industrial-scale lyophilization equipment, pilot-scale lyophilization equipment, and laboratory-scale lyophilization equipment. In 2019, the industrial-scale lyophilization equipment segment accounted for the largest share of 68.2% of the market. The large share of this market segment can be attributed to the high standard of quality provided by industrial-scale lyophilization equipment. Industrial-scale lyophilization equipment can also be customized as per process requirements.

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Key Market Players;

Some of the prominent players in Freeze-Drying Equipment Market are GEA Group (Germany), Azbil Corporation (Japan), Shanghai Tofflon Science Technology Co., Ltd. (China), IMA S.p.A. (Italy), SP Industries, Inc. (US), HOF Enterprise Group (Germany), Labconco Corporation (US), Martin Christ Gefriertrocknungsanlagen GmbH (Germany), Millrock Technology, Inc. (US), and OPTIMA Packaging Group GmbH (Germany).

Asia –Pacific was the largest regional market for lyophilization equipment market in 2019

The freeze-drying/lyophilization equipment market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2019, the Asia Pacific accounted for the largest share of 34.6% of the market and is projected to register the highest CAGR of 10.4% during the forecast period. The large share of the Asia Pacific regional segment can be attributed to the rising number of investments in this region, growth in R&D expenditure, and geographic expansion of lyophilization equipment companies in this region. Moreover, the presence of major players in the lyophilization market in the APAC region and the expansion of the manufacturing units of leading pharma companies in this region is expected to boost the market growth in this region in the forecast period.

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