LONDON--(BUSINESS WIRE)--The global lyophilization equipment and services market is expected to grow at a CAGR of above 8% during the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global lyophilization equipment and services market for 2016-2020. The market is further categorized into three product segments, including tray-style freeze dryer, manifold freeze dryer, and rotary freeze dryer, of which the tray-style freeze dryer segment dominated the market with more than 53% of the overall market share in 2015.
“Many advanced lyophilization technologies such as PAT technology, controlled ice nucleation during freezing, and miniaturization techniques have been introduced in the market. For instance, in March 2016, Baxter Healthcare customized the freeze drying process and introduced its advanced lyophilization technologies in the US. This technology during product freezing helps reduce the resistance to mass flow of water vapor through the drying cake within a short duration,” asserts Srinivas Sashidhar, a lead research tools analysts from Technavio.
Technavio’s research study segments the global lyophilization equipment and services market into the following regions:
- Americas
- APAC
- EMEA
In 2015, with a market share of over 50%, EMEA dominated the global lyophilization equipment and services market, followed by the Americas with above 37% and APAC with more than 12%.
Lyophilization equipment and services market in EMEA
In 2013, the global sales of lyophilization equipment and demand for associated services was the highest in Europe. The advances in novel technologies for lyophilization and related active clinical trials have led to the demand for equipment and services in the region.
In Western Europe, the number of biobanks and tissue banks is increasing annually due to government and public support. Biobanks and tissue banks are major end-users of lyophilization equipment and services.
“Compliance regulations in the pharmaceutical and biotechnology industry encourage end-users to adopt advanced freeze drying equipment. New drug innovations require more advanced freeze dryers for storing and processing, creating demand for freeze dryers. Germany, the UK, and France were major manufacturers for freeze drying equipment in Europe. The scope of these equipment and services is limited in the Middle East and Africa. Lyophilization equipment and services are expensive, which many companies and medical facilities based in the region cannot afford,” adds Srinivas.
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High investments in R&D of drugs fueling the lyophilization equipment and services market in the Americas
In 2015, the US was the leading contributor in the Americas as the region has many established companies that are extensively investing in the R&D of drugs. Due to the advances in freeze dryer technologies in the US, the demand for freeze dryers for drug and vaccine storage is likely to increase. Countries such as Brazil and Mexico are major emerging markets for lyophilization equipment and services in the Americas.
The sales of tray-style freeze dryers were high in the Americas owing to the presence of top-tier pharmaceutical and biotechnology companies. New technologies such as active freeze drying technology for lyophilization are likely to be introduced in the US. The governments of the US and Canada are funding the development of lyophilization equipment due to the technology's demand among hospitals, pharmaceutical and biotechnology companies, organ registries, and biobanks. Countries such as Brazil and Mexico are major untapped markets and present significant growth opportunities for vendors.
Lyophilization equipment and services market in APAC
In 2015, China, India, Japan, and South Korea were the leading contributors to the market. Many pharmaceutical companies are expanding in China and India for the development of drugs due to the presence of less expensive labor and significant growth opportunities. The food processing industry will lead to the demand for freeze dryers due to the rise in the supply of packaged food.
The adoption of novel technologies due to the presence of a fast-growing consumer base has led the governments of various countries to implement favorable policies. The number of contract manufacturing companies is increasing in countries such as India, Thailand, China, Malaysia, and Vietnam due to the presence of skilled labor, which will also lead to the demand for lyophilization equipment and services.
The top vendors in the global lyophilization equipment and services market highlighted in the report are:
- Azbil Telstar
- GEA Group
- Labconco
- Thermo Fisher
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