NEW YORK, Dec. 14, 2023 /PRNewswire/ — The lyophilization equipment and services market is expected to grow by USD 2.65 billion from 2023 to 2028. In addition, the momentum of the market will progress at a CAGR of 7.92% during the forecast period, according to Technavio Research. The market is segmented by end-user (pharmaceutical and biotechnology companies and other healthcare service providers), product (tray-style freeze dryer, manifold freeze dryer, and rotary freeze dryer), and geography (North America, Europe, Asia, and Rest of World (ROW)). North America accounts for 36% of the growth of the global market during the forecast period. The US is one of the main countries that contributes to the lyophilization equipment and services market in North America due to the presence of various large-scale pharmaceutical and biotechnology companies. Moreover, there is a rise in the focus on the R&D of genes and other nucleic acid-based products in the US, including antisense oligonucleotides (ASOs). Hence, such factors drive the market growth in North America. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read a Free PDF Sample Report
ATS Automation Tooling Systems Inc., Azbil Corp., Baxter International Inc., Coriolis Pharma Research GmbH, Cryotec.Fr, GEA Group AG, HOF Sonderanlagenbau GmbH, Labconco Corp., LaboGene AS, Lyophilization Technology Inc., Maquinaria Industrial Dara SL, Martin Christ Gefriertrocknungsanlagen GmbH, MechaTech Systems Ltd., Millrock Technology Inc., OPTIMA packaging group GmbH, Shanghai Tofflon Science and Technology Co. Ltd., Thermo Fisher Scientific Inc., W. L. Gore and Associates Inc., Yamato Scientific Co. Ltd., and IMA Industria Macchine Automatiche Spa
ATS Automation Tooling Systems Inc: The company offers lyophilization equipment and services such as Lyoscan system.
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Lyophilization Equipment And Services Market: Segmentation Analysis
- The market growth by the pharmaceutical and biotechnology companies segment is significant during the forecast period. There is an increasing use of lyophilization technology to extend the shelf life of a wide range of biological products, such as antibodies, proteins, peptides, coagulation factors, growth factors, cytokines, vaccines, nucleic acids, and antibody-drug conjugates. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
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“Besides analyzing the current market scenario, our report examines historic data from 2017 to 2021”- Technavio
Lyophilization Equipment And Services Market: Driver & Trend:
- The advantages of lyophilization over conventional drying drive the market growth. There has been a strong presence of lyophilization or freeze-drying in the market for over three decades to stabilize different types of chemical components. Moreover, it is increasingly being used by pharmaceutical and biotechnology sectors, due to its potential advantages over conventional drying, which comprises crystallization, filtration, and precipitation. Hence, such factors drive the market growth.
- Technological advances in lyophilization
- Rising demand for biobanks
- The rise in demand for controlled nucleation in lyophilization is a primary trend in the market. A significant trend in the global market is controlled nucleation as nucleation behavior can impact the different steps in the lyophilization processes and product attributes. In addition, the lack of control of the nucleation temperature can have an adverse effect on product uniformity and can lead to suboptimal lyophilization cycles. Hence, such factors drive the market growth.
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What are the key data covered in this lyophilization equipment and services market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the lyophilization equipment and services market between 2023 and 2028.
- Precise estimation of the lyophilization equipment and services market size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the lyophilization equipment and services market across North America, Europe, Asia, and ROW
- A thorough analysis of the market’s competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the growth of lyophilization equipment and services market players.
Historic Market Sizes
Five Forces Analysis
Market Segmentation by End-user
Market Segmentation by Product
Market Segmentation by Geography
Drivers, Challenges, & Trends
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